Summary: Dr. Rasmus provides updates to Trump trade, tax, and Fed monetary interest rate policies, explaining how they are integrated responses designed to resurrect and restore neoliberal policy in a new more virulent, aggressive form after the failure of Obama to do so. How trillions of dollars in Trump’s tax cuts and war spending are producing annual trillion dollar budget deficits and adding $12 trillion more to the US national debt in the next decade. Trump’s recent announcement of more tax cuts coming before November plus another $85 billion to war spending will exacerbate deficits further. How Trump trade policy integrates with fiscal-monetary policies. Rasmus updates latest Trump trade actions illustrate a phony trade war with allies: trade war of words with Europe suspended, a deal with Mexico imminent, but positions hardening with US-China. Risks of China trade war morphing into a global currency war, and its consequences. Contradictions between Trump trade-fiscal-monetary policies emerging. Global central banks’ responses to Trump-Fed policies. (For a print analysis of how trade war with China may morph into a global currency war, see Dr. Rasmus’ blog, jackrasmus.com).
