[Marxism] Helsinki: Was it "excellent"? Should we care?
lnp3 at panix.com
Sun Jul 22 06:39:09 MDT 2018
I may write something longer on this at some point but we should not
overlook the possibility that there is an underlying incoherence in
Trump's domestic and foreign policy that has a lot to do with his
authoritarian rule and that makes it problematic to see it as if guided
by a master plan.
For example, despite all the talk about Putin and Trump being in some
kind of secret cabal, Trump has begun to ship anti-tank missiles to
Ukraine that will likely help Kyiv subdue the secessionists.
There are also major contradictions in Trumponomics that the NY Times
commented on yesterday:
President Trump accused China and the European Union on Friday of
manipulating their currencies to gain an edge in global trade and
escalated his criticism of the Federal Reserve for raising interest
rates, saying those moves were putting the United States at a disadvantage.
But behind Mr. Trump’s criticism is an economic paradox of his own
making: The very policies he has pushed, like tax cuts, increased
government spending or protectionist tariffs, are fueling many of the
global changes that he finds so troubling.
A booming United States economy is strengthening the dollar against
other currencies, and Mr. Trump’s tariffs are prompting some countries,
like China, to take steps to protect their exporters. The Fed, concerned
about too rapid an expansion that is fueled in part by the enormous
fiscal stimulus ushered in by the White House, is slowly raising rates
to keep the economy from overheating.
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