Playing To The Base

It’s common knowledge that President Donald Trump’s political base is composed mainly of white Americans without college degrees. These folks are mad as hell, and they’re not going to take it anymore!

The highly educated elite look down their noses at them, while immigrants and African Americans are stealing their jobs. Donald Trump has felt their pain and given voice to their resentment. But all the while, he has been screwing his followers while they thank him for doing so.

Know more about Russia than your friends:

Get our free ebook on how the Soviet Union became Putin's Russia.

Q3 2019 hedge fund letters, conferences and more

Exclusive: York Capital to wind down European funds, spin out Asian funds

Jeffrey Aronson Crossroads CapitalYork Capital Management has decided to focus on longer-duration assets like private equity, private debt and collateralized loan obligations. The firm also plans to wind down its European hedge funds and spin out its Asian fund. Q3 2020 hedge fund letters, conferences and more York announces structural and operational changes York Chairman and CEO Jamie Read More

Please consider Trump’s three main economic initiatives – the $1.5 trillion tax cut, his continuing attempts to abolish Obamacare, and his disastrous trade war with China and our other major trading partners.

The tax cut has gone mainly to the top one percent and to huge multinational corporations. The abolition of Obamacare would leave tens of millions of working-class and poor Americans without any medical insurance,

And the trade war is costing the average American family about one thousand dollars a year. Worse still, it has pushed American agriculture and manufacturing – both key Trump constituencies – into recession.

But not only have Trump’s three main economic initiatives hurt his base, but his loyal followers even thank him for doing so. After all, their blood  enemies – the college-educated elite, along with the immigrants and African Americans -- have also suffered from Trump’s economic stewardship. That makes their sacrifices well worthwhile.

Some might consider this behavior masochistic, but, in a sense, it is truly heroic. Think of the bravery of a group of American combat troops whose position has been overrun by the enemy that calls for an artillery strike upon their own position.

About the only Americans who have made major gains from the president’s economic initiatives are the rich. And one of the richest of the rich just happens to be Donald Trump.