Steve Bannon has been fired from the Trump team, and many are saying good reddens. It was Bannon who has been the one with the most confrontational approach and has really been clashing behind the curtail. Bannon said in the interview that the main front was China: “We are in a trade war with China” and if the US were not to win this war, they would fall back as a world power permanently into insignificance. Bannon’s statement is really absurd for he has clearly no real understanding of the world economy. His focus of China and trade is the same stupid reason James Baker created the G5 back in 1985. We are plagued by people who pontificate on the world economy with zero experience.
Bannon is an American media executive, formerly a film producer, who served in the Navy for 7 years and then worked at Goldman Sachs as an investment banker mergers and acquisition but never rose very high. In the 1990s, he became an executive producer in the Hollywood film and media industry; he produced 18 films between 1991 and 2016. He may understand media, but I believe he is clueless with regard to how the world economy functions.
Bannon is being very vindictive. He has come out and said: “The Trump presidency that we fought for, and won, is over.” He added: “We still have a huge movement, and we will make something of this Trump presidency. But that presidency is over. It’ll be something else. And there’ll be all kinds of fights, and there’ll be good days and bad days, but that presidency is over.”
When we look at trade as a percent of net investment outflows from the United States as it has invested around the world (excluding FX trading and derivatives), we can see that going into 2007, trade fell to just 31% of net investment capital outflows. Post-2007, net investment flows out of the United States have been greatly diminished as capital contracted and began to hoard and thus trade has risen sharply as American have invested less overseas. If we really look at trade as a percentage of total capital flows globally, we are looking at less than 15%.
CAPITAL flows to developing countries between 1990 and 1997 was hailed as the way to bring them into the global markets. However, after a series of international financial crises that culminated in the 1997 Asian Currency Crisis, what emerged was an increase in the doubts about the benefits of such flows. They did not distinguish between n”hot” money trading currencies rather than direct investment. This shallow analysis has led to great misunderstandings of international capital flows.
Underlining this new skepticism emerged from academic studies that implied only a weak relationship between capital flow liberalization and long-run economic growth. They did not understand the true distinction between “hot” money and actual investment in the private sector which is distinct from trading currency and government bonds.
Those concerns tempered the enthusiasm for capital inflows and have led to a reassessment of the policy approaches to attracting and managing them. Recently, this has manifested in laws that have attacked foreign investment in real estate, which is not the “hot” money that blew up the world in 1997. Nevertheless, this prejudice against capital inflows is systemic without comprehending what is really at stake.
Bannon is part of the problem for he focuses only upon trade and assumes, as did James Baker, that lowering the dollar will somehow create jobs by increasing exports. This is just a very narrow view of the world economy and is part of the crisis we face because those in power are clueless.
I’m hearing he resigned.
So was he fired or did he resign?
And does this mean he will now be for or against Trump, something else I’m hearing discussed.
He is for Trump, against the people Trump has chosen to surround himself with, but the original ideals for his administration are gone.
I expect Bannon to viciously and repetitively attack all the goons
surrounding Trump.
Note: I realize the structure of my 1st sentence is incorrect but I do not have the mental attitude, time, patience to do it right.
(thanx in advance for your understanding)
I heard he’s bringing out his own line of men’s fashion.
Oh yeah, Martin. You’re smarter than Trump. Get a life.
He lost me when the word reddens appeared. WTF is good reddens? A purposeful sunburn?
Rid·dance
ˈridns/
noun
The action of getting rid of a troublesome or unwanted person or thing.
Martin never proofreads.
That really shows disrespect for the reader in my opinion. Every article of his is filled with errors. I wonder if he is one of those whiz bangs who uses some kind of computer voice dictation program?
I tend to not give much credit to authors that are wreaked with misspelled words.
List:
1) reddens – riddance: “the action of getting rid of a troublesome or unwanted person or thing.”
2) clashing behind the ‘curtail’ – uh, try ‘curtain’… it works better.
3) between n”hot” money trading – the extra ‘n’ caused the backward quote mark
As I understand it, Bannon is behind the end the “administrative state” which had allowed the executive branch to skirt Congress through the expansion of imposing regulations, seen as a good thing by Washington D.C. Constitutional Attorney Jonathan Emord.
See VIDEO:
Armstrong is a typical example of the sort of fool whose entire world view revolves around economics and money. Yes, Trump promised to bring jobs back to America, reform taxes, renegotiate unfair trade agreements and all the rest. That is all fine. The core of his message, though, has nothing to do with all that. Trump’s message was a call to save the American nation. Steve Bannon was the one powerful person around Trump who understood that. Now that he is gone Trump will lose whatever chance he had of winning this battle. We are headed for total disaster, folks.
I disagree that we are headed for disaster. Now that Bannon is free to say what he wants and to call out whoever he pleases it changes the whole game. My gut tells me Bannon’s departure was planned.
The Left and the Establishment think they scored another scalp. Wrong, brace for impact.
Bannon will now call out the traitors. Get the popcorn ready. Lefty and Establishment heads will be exploding.
I hope you are right but fear you are not.
Thank God? I don’t think so. God’s too worried about that escalation of war on innocent and defenseless brown people likely to happen now that the war lovers have a clear field of fire.
God doesn’t “worry”, he has a will and declares when it will take place. He leaves how it is carried out to man’s own choice through his free will.
Oh. I guess you don’t do irony. My apologies to God.
Pu-lease. If God was in the slightest bit worried about anything our little piss-ant world decided to to do, we would all be eradicated in a microsecond. All HE would have to do is give a little bump to a 30 kilometer wide asteroid in the Kiper belt, and with in days, we would have a much bigger “threat” than the Russians. Or HE could simply make the Yellowstone super-volcano burp, not erupt, simply burp, and that is that. And both of those would only come about if HE decided that we should actually KNOW what hit us. If HE wanted to preserve the planet completely, HE would simply just make all of our hearts stop at the same time – sort of a human EMP. No mess, no fuss.
God, has a lot more to deal with than our little tiny pebble in the vast universe (possibly multiverse) than these piddly issues…..and, for those arrogant enough to think that we are in ANY way more than simply tiny Ants on a big log, explore the basics of physics or the workings /size of the universe some time, and it may give you a clue as to our “significance” before GOD.
Anon, your theology is warped. You do not understand the significance of man before God.
Nor the value of Earth. I will spare you a lecture but I will offer these words for consideration:
What is man that You are mindful of him,
And the son of man that You visit him?
5 For You have made him a little lower than the angels,[a]
And You have crowned him with glory and honor.
Man is fallen, not as he was made.
And God is quite capable of dealing with him as such, that is what most of the Bible is about.
Armstrong has many charts, data, super duper software running on powerful computers and can predict the future with uncanny accuracy which makes Armstrong the smartest sumvabitch on the planet. Just ask him.
Martin Armstrong, you are a flaming globalist who IF you are an American citizen deserves a rope around the neck of your treasonous ass !
Communist China IS our enemy along with former POTUS Clinton and the members of the 106th CON-gress, who in May of 2000 gave us Permanent Normal Trade Relations (PNTR) with the Red Chinese. PNTR that opened our markets on a two-way street….American manufacturing jobs along with the wholesale transfer of both our manufacturing technology, our manufacturing equipment and our raw materials OUT to the Chicoms. Then returned to us, without tariff, finished products with the timeless brand names of former American manufactures now hawking their Chink produced items under the names made famous by generations of AMERICAN manufacturing workers ! In turn, Amerika has become a debtor nation with trillions of dollars in trade deficit with the ChComs alone.
Today, one cannot find paper clips made in the USA. 90 million working age American citizens are not working. Of many Americans who do work, the vast majority now work for some form of government, localgov, stategov and/or fedgov….producing NOTHING, NOTHING of value.
American traitors sold the sovereignty of this country down the proverbial toilet in May of 2000. Low-lives such as yourself continue to produce the lies that producing, keeping and protecting American manufacturing is a fool’s errand. The only fools are those who have and continue to succumb to your treasonous rhetoric of globalism. You deserve a meeting with the Tree of Liberty.
President Trump was elected to counter the destruction of what is left of the Republic. We, the believers in President Trump, will not go quietly away should you and the Deep State succeed in removing our President. Scum like yourself, John Kasich, John McCain, Mitt Romney, Lyndsey Graham and a host of Democrat communists too numerous to mention, will meet a traitor’s fate should this former United States of America descend into civil war.
May you rot in Hell !
They don’t make paperclips in the USA?? This shit is really pissing me off now. Has Trump even mentioned bringing paperclips back to ‘Murica? I’ll bet he hasn’t. Fucker.
Stucky,
Curious….would you care to share your sector of the economy ? That is, .gov or private sector ? If you do share, be honest.
.fukoff —– that’s my sector.
Honest.
Stucky,
Yep….you are the keyboard warrior asshole I thought you were. You are a government weasel.
Martin Armstrong’s column was unintelligible. Was he drunk when he wrote it?
While it’s possible that Bannon’s critique of Chinese Mercantilism is a little simplistic, Armstrong offers a stream of (un?)consciousness instead of a rebuttal.
Any idiot with the slightest understanding of finance can recognize that if Chinese business people are taking our dollars and recycling them into 3-4% return US real estate projects instead of supposedly much higher-return domestic Chinese investment opportunities, then there is a Bubble building up in China. Even adjusted for a healthy Chinese desire to diversify capital holdings, this is a bizarre phenomenon. If the Chinese currency freely floated, this phenomenon would not occur. Surely Dr. Armstrong recognizes that the Capital account must be offset by the Trade account in the long run.
When the Japanese bought Rockefeller Center at a crazy price, the bell rang. Recently, the Chinese bought the Waldorf Astoria for a ridiculous price. But Bannon must be the idiot in the story, right?
Cap’t Willy, You reminded me of the casino practice of delaying winning whales until they lose the booty they won at the casino.
In a similar fashion, the Chinese, Saudis, whoever, is allowed to make money in the US but they are highly encouraged to reinvest their winnings in Wall Street. Of course, when we eventually get pissed off at them for such slights as trying to claim their money, we put a hold on it due to some humanitarian offense.
After a few years they resort to hard-ball tactics and we give them part of their money back but we make sure the public sees it as taxpayer money; which it will be if Wall Street has any say, and they do.
I glad Southern Saga said we are headed for a disaster.I hope that means you’ll be sticking around for awhile.Leaving for another country never has sit very well with me. I don’t care what the rationale behind the motive .Somebody is going to have to stay here and help clean this shit up. Especially men with experience in government/ military.
I could leave tomorrow. I have property and a well-paid job overseas. But the USA is MY country. There is no place in it for Marxist scum or their useful idiots like Senators Flake, McCain, Graham, Schumer, Booker, and so on and so forth. So I will stay. My true deam job would be Lord High Executioner. I spent a long career hunting down and eliminating Reds in Latin America. How I would enjoy such work here!
Cheer up. You may get your chance.
I pray for that chance every night.
Count Me In….But there are Higher People on the Food Chain that need to be Dealt with First!
I suggest you lay down until the urge passes.
How about “going to exotic places and meeting exciting people” and helping primary those asshats? Hunt down some new voters? Retail politics can be rewarding and you frequently kill no one while defeating them in detail is possible and everyone walks away to play another day and society can be better for it.
BB,
You are an idiot if you believe “men with experience in government/ military.” are going to “help clean up this shit.” Those scum are the reason why you now dwell in the former USA.
A short rooe and a tall tree to every one of your saviors.
Aren’t trained, certificated, economists the people largely responsibly for the situation we find ourselves in? The people that, when confronted with a reality that doesn’t conform to their predictive models, determine – after much discussion – that the problem lies with reality rather than their predictive models?
Bannon could not possibly have done any worse than they have.
I think you are speaking of Reagan’s VooDoo economics. Do you think it is a good idea to continue experimenting as he did with the economy?
Bannon had no responsibilites, his was an honorary shit job and he could see that come November, he’d be sitting at the kiddie table for Thanksgiving dinner.
It was time to blow Trump’s Taco Stand or continue to get ignored by everybody and slighted by that snotty kid, Jared.
Well the economy certainly did well under Reagan, a world record of economic growth.
Maybe we should pursue more experimentation along the same lines as he did.
Mainly Greenspan, Bernanke, and a bit of it is aimed at Yellen.
AC;
Dart throwing monkeys would likely have us in better shape had they been adopted instead of the FED in 1913.
To be fair to The FED, it did keep its actual customers in great shape and delivered a high quality product for its actual target audience.
I am told those trillion Dollar letters of credit the favored few were given to wave around in ’08 were “targeted.”
the left thinks it is always right business men think they are right the worker thinks hes right but they all forget the gov’t will screw the goat and no one wins