Trump’s Vanity Will Destroy The Global Economy

Guest Post by Tom Luongo

Last year I asked the question “Will Trump torch the global economy on the bonfire of his vanity?”

A year later we have the answer. It’s a resounding, “Yes.”

I wrote after Trump pulled out of the JCPOA:

Donald Trump wants regime change in Iran. His cancellation of the JCPOA was a decision born of his myopia. He has surrounded himself with people who reinforce his view and manipulate him via his vanity.

And the price of implementing his current plan will be a global debt crisis which no one will escape. …

He wants to remake America and the world in his image while undoing anything President Obama touched…

We have a leaked (yeah, right) memo explaining this is the plan. Nothing Trump has done since he’s been in office has been contra to this goal; overthrowing the theocracy in Iran…

In fact, it has been a step-wise move in this direction with each decision he’s made.

Today Trump has pushed this plan to its extreme. He’s fomented a trade war with China and threatened sanctions on anyone doing any business will Iran outside its border, now including all strategic metals.

He’s threatened Lebanon with extinction and Iraq as well. His foreign policy mouthpieces are making pronouncements and twisting arms.

And of this for the United States. He’s doing this for the basest of reasons. His ego. And, for him, that means doing everything to support his upcoming “Deal of the Century” between the Palestinian authorities and Israel. That it is the first step towards peace in the Middle East.

But it isn’t.

Israel leaked the terms of the Palestinian surrender yesterday. What was whispered to be a terrible plan is actually laughable if any of this is true.

Like Theresa May’s EU Withdrawal Treaty this looks like a document written by one side as terms of surrender in a war whose outcome is very much in doubt.

The Kushner plan looks like every other “offer” Trump has put on the table in the last twelve months. Surrender or die.

  • A tripartite agreement will be signed between Israel, the PLO and Hamas, and a Palestinian state will be established that will be called “New Palestine” and will be established in the occupied West Bank and Gaza, with the exception of the settlements. Israel would release Palestinian prisoners gradually over the course of three years under the deal.
  • The settlement blocs in the occupied West Bank, which are illegal under international law, would form part of Israel.
  • Jerusalem will not be divided but is to be shared by Israel and the “New Palestine” with Israel maintaining general control.
  • Palestinians living in Jerusalem would be citizens of the Palestinian state but Israel would remain in charge of the municipality and therefore the land. The newly formed Palestinian state would pay taxes to the Israeli municipality in order to be in charge of education in the city for Palestinians.
  • The status quo at the holy sites will remain and Jewish Israelis will not be allowed to buy Palestinian houses and vice versa.
  • Egypt will offer the new Palestinian state land to build an airport, factories and for agriculture which will service the Gaza Strip. Palestinians will not be permitted to live on this land.
  • A highway would be built to connect the Gaza Strip to the West Bank 30 metres above Israel. Funding for the project will mainly come from China, which will pay 50 per cent of the cost, with South Korea, Australia, Canada, the US and EU each paying a ten per cent each.

And for this ridiculous offer Trump is willing to hang the entire global economy and the future of civilization. And I say this with no amount of hyperbole because what’s the walk back from this at the end of Ramadan, when this deal will supposedly see the official light of day?

There is no walking this back. Just like Trump is stuck in his trade talks with China.

Trump backed himself into a corner with China, essentially demanding it give the U.S. ultimate say over its fiscal, monetary and trade policy.

The Chinese aren’t going to agree to that any more than the Palestinians are going to agree to a Palestinian State in name only, administered like a Native American reservation by Israel.

Lebanon is not going to accede to Pompeo’s demands to remove Hezbollah from its government. North Korea isn’t going to give up its nukes so the U.S. will allow it to trade with dollars. Negotiations with Trump are nothing of the sort.

They are terms of surrender.

And Trump, in full re-election mode, is running around telling his MAGApede followers, “China broke the deal.”

There never was any deal. There was a draft agreement China took back to Beijing and altered to suit the demands of any sovereign nation. And Trump threw a temper tantrum which is creating massive uncertainty all across the capital markets.

It’s not just about the Dow Jones, which Trump watches like a hawk. It’s about global currency and bond markets.

Trump refuses to understand that conducting foreign policy isn’t building a freaking casino. You can’t just walk away and negotiate with the guy who owns the lot next door.

And using threats of invasion, military intervention and hybrid warfare to impoverish people is not only insulting and barbaric, it’s counter-productive.

Everyone around the world now knows Trump’s game and are unimpressed. They are all willing to take a hit or two here. Trump keeps upping the ante.

But this exposes cracks in the global financial infrastructure. The most important point of failure is in Turkey, which the U.S. is attacking through the Turkish lira.

President Erdogan’s insistence on defying Trump’s edicts on Syria, Iran and Israel while building pipelines from Russia and buying Russian S-400s has led to a sustained attack on the currency.

But that, in turn, is pressuring Italy, as it has an enormous exposure to Turkey’s corporate debt markets. Things are getting real for Erdogan and the next step is for him to declare force majeure, close the capital account and default on a lot of this debt.

This could easily precipitate a sovereign debt crisis across Europe, as Rickards points out in the link above, comparable to 1997 in Thailand or 1999 in Russia.

But I think this one will be far worse since the global economy is so much more fragile today than then after a decade of insane monetary policy. The ECB and Bank of Japan have completely destroyed their sovereign bond markets. The Fed is now floating similar ideas of rate targeting the yield curve, which is just QE by another name.

And Trump’s advisory team is only focused on the geopolitics of the situation because Turkey cannot be lost to the Russia/China/Iran axis forming in Asia. They see the economic strangulation of Turkey, Iran and Venezuela as geopolitical tactics for regime change.

Do you think they see the bigger picture? Do you think they see the potential for global collapse or just a few people ‘getting their hair mussed?’

George C. Scott, Donald Trump or John Bolton?

We have to realize that speech is closer to truth than comedy.

If Bolton’s team do realize they are fomenting a monetary crisis on purpose then that should truly scare you.

Erdogan survived a coup against him fomented in a similar way to the one that just failed in Venezuela. He no longer trusts us or wants to be in an alliance with us. That will cost him and the Turkish people, given this situation.

Turkey is being prepared for the same balkanization that Syria and Libya have undergone.

The same thing goes for China and Russia and Iran. The trade war is a means by which to attack China’s fragile banking system, but that’s hard to do behind a closed capital account.

Fighting an economic war on all fronts eventually leads to an unstable global economy. It leads to people changing their trading habits and a meltdown of a world sustained only through egregious amounts of debt.

And it seems at this point Trump is willing to flirt with burning down the rest of the world to leave the U.S. in a somewhat better state than the rest after it’s all over.

It comes back to Trump’s ego and his obsession with solving the Gordian knots of geopolitics. People like John Bolton tell him how to achieve those goals through the most obnoxious means possible and Trump goes along with it because they are both bullies.

He wants the medal for peace in the Middle East, and Jared Kushner’s plan is the only path he has now. He’s pot-committed to it. The deal is stillborn given the terms of surrender on offer, however.

All of these people — the Palestinians, Lebanon, Syria, North Korea, Turkey, China, Iran and Russia — would rather eat dirt at this point then give Trump anything at all.

He complains that Iran won’t call him. Why should they? So he can insult them? The gross sense of entitlement in his demeanor precludes any negotiations.

If this deal wasn’t DOA it would have been presented by now. But the screws had to be tightened all the way, way beyond what is remotely reasonable. Because that’s all Trump knows. Double Down. Tweet more. Be a jackass.

What happens when this is rejected?

What happens when China shifts more of its oil purchases to Iran flaunting U.S. sanctions?

Will the U.S. seize Chinese company bank accounts?

What happens when Russia and the Syrian Arab Army wipe out the last of the U.S.’s proxies in Idlib and Hama while Turkey stands by and lets it happen?

Remember back in 2017 when Trump was threatening fire and brimstone on North Korea to get them to the bargaining table? Xi and Putin went along with it trying to help him get the wins he needed to solidify his power in D.C.

Trump snookered them, hired Bolton and Pompeo and the rest has been a clown show ever since.

Now he has no real relationship with any of them now. No one will deal with him seriously. And it’s not about the election next year. It’s about Trump and his unwillingness to actually make deals. So, we’re stuck with threatening the world with more beatings until morale improves.

These next few weeks are going to tell us whether China is ready to finally put chips on the table and call Trump’s bluff.

He’s pushed this gambit as far as he can go. Bolton likely assured him Iran and China would be ready to fold by now. He’s running out of time to have something, anything to campaign on in 2020 because he’s pushed the world to the brink of ruin to satisfy his immense ego.

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Tim
Tim

Now, wait just a cotton-pickin’ minute!

I’ve been reading about the death of the economy for 10+ years now. I’ve seen hockey-stick graphs. I’ve learned about the Federal Reserve Bank, which is neither Federal, nor does it have reserves. That institution was created in 1913, when Fred Trump was still just a little boy. I learned about how Nixon closed the gold window in 1971, when Trump was just a young man, avoiding Vietnam. So much of The House of Cards was built long before Trump ever became President.

And now, just now, the global economy is Trump’s responsibility? Something seems wrong with the premise of this article. Either that, or someone is trying to confuse me………

For all I know, Trump was elected solely for the purpose of declaring bankruptcy in the country.

Iconoclast421

Well to be fair, as much as 20% of the real economy has been destroyed over the last 10 years. It is difficult to quantify because of all the money printing. But the economy is substantially weaker than just about anyone is willing or able to admit.

Joe Padilla
Joe Padilla

As much as I don’t like Trump, more than 20% actually in the last 10 years when you take out all the luxury apartments and retail that has unnecessarily been built. Our FED is acting like a fabulously below average college student who keeps maxing out his student loans and maxing a new credit card every semester. All the while living in a luxury apartment, taking great spring breaks and attending the best gym on campus while carrying around a fresh cup of Starbucks looking fabulous everywhere he goes.

It’s going to end. And badly. I hope this time it hits the rich people proportionately to the poor. But the FED has ways of making the rich look a lot better than they really are. So get ready workers. You are going to take it again. I wish I could blame this on Trump, but this has been coming for decades. And low interest rates won’t fix what is coming. The joke is, low interest rates made it much worse.

MASTER OF UNIVERSE
MASTER OF UNIVERSE

The Duck was elected to quack like P.T. Barnum II in order to drum up volatility [VIX] due to Secular Stagnation [Larry Summers] and unmanageable deficit & debt-to-GDP. Americas only chance was to drum up full employment and lie about all the econometrics in the process. The Duck was brought in to defend the lies of state because he is a text book Psychopath and the sociopaths in the deep state trust text book Psychopaths because they are likeminded.

MOU

Mygirl...maybe

Luongo and his perpetual Orange Man Bad. Ho Hum.

Hardscrabble Farmer
Hardscrabble Farmer

If one man is capable of ‘destroying’ the global economy then it isn’t very stable, is it?

The most overblown, hyperbolic, and hysterical headline I have read all year.

Anonymous
Anonymous

What say you Trumpsters? Defend these fucking war mongers and you lose your soul. The only response we hear here is that Don is better than Hillary. Low fucking bar.

CCRider
CCRider

I love articles like this. I have no fucking idea when the economy will collapse and neither does anyone else, save perhaps those with the power to bring it on. But I really enjoy the mewling and teeth grinding it causes of the Trump Is Our Savior crowd.

Vote, my ass

capndiesalot

Again, bullshit. War mongers? where’s the war? Every conflict we’re dealing with is as a result of the mistakes of others. At least, President Trump hasn’t decided to use our troops as cannon fodder with bullshit rules of war, and the REST of the crap we’ve been dealing with since the slimy democrat-socialists got us involved in Vietnam. Furthermore, your low “fucking bar” received over 60 million votes…obviously, there’s a lot of suckers allowed to vote in the United States.

CCRider
CCRider

Where are the war mongers? Is this a joke? Pompeo-bolton-abrams-haley-haspel. Try reading a fucking book.

BTW, 63 million voted for the other half of the 2 party duopoly. And 97 million of us told you all to stick your precious democracy up your asses.

ottomatik
ottomatik

What war has he started?
Thought so…you suffer from TDS just like those bitchez on The View.
I’ll be happy to join your condemnation when he actually starts some shit or bayonets some schmucks asshole.

CCRider
CCRider

Point taken. In the world we now live in, to our shame, a president who hasn’t yet started a war is as peaceful as we get. If the provocative moves he’s made at Russia is his idea of smart negotiations then he’s crazier than I feared. He’s risking nuclear annihilation by drawing nato right up to their borders and for what gain? You any safer? Richer? Freer? Me neither.

As for my TDS I wholeheartedly accept the compliment but it’s far too limiting. I detest all politicians. I don’t like being bossed and stolen from.

ottomatik
ottomatik

Detestable lot indeed, i just cannot help but wonder how much he is really “in control” of the monstrous beast that is Washington DC.
It appears that he is literally surround by blood thirsty fucks trying every trick in the book to force his hand. And so far he has out foxed them. Look at Venezuela, he appears to be walking a tight rope, I would suggest that any other would have already authorized regime change and CNN cunts would be jizzing all over live pics of bombed out day cares.
Not that I know this is a fact, he might be part of some insider plot, but I have to call it like a see it and allow for the chance of much needed change. Cuz I dont see it anywhere else, at all.
And I will join you in condemnation when he starts bombing fucks, anywhere. Well except maybe California.

Captndiesalot

I challenge you to find a single instance of President Trump starting a shooting war, where US troops have been deployed when he wasn’t dealing with a bunch of shit left behind by previous “leadership.” Otherwise, STFU…

capndiesalot

Nonsense. The Chinese have taken trillions in US$ and rebuilt their nation. Now, they’re building their military. Either we deal with these idiots, now, or have a shooting war, later. The Palestinians will never deal with the Israeli’s and frankly, I could care, less. Islam has inflamed the whole world with its cult of death, slavery, rape, and robbery. Again, we can deal with them as peacefully as possible or wake up and decide that enough is enough with this cult.

Diogenes’ Dung
Diogenes’ Dung

Sure thing, it’s Trump’s misplaced trust in his weather vane that is blowing up the world economy.

Not banksters who fund political piracy, and whose coordinated malfeasance is the new American blueprint for getting ahead at everyone else’s expense. That’s not apparent for weenie writers whose powers of observation are confined to peewee ballparks.

Where was Chicken Luongo when Banksters blew up the financial system and Ovanity puffed before Wall Street’s Warlords, claiming only HE stood between them and the victims of their rape, who were coming after them with pitchforks?

Obama, Mr. I, Me, Mine, the vainest person on this plane, peeled plenty of the bad apples in our economic pie.

Mygirl...maybe

Orange Man Bad…nuff said.

Iconoclast421

War with Iran would almost certainly result in the destruction of Israel. I’m usually very much anti war, but a bit less so in this case.

Diogenes’ Dung
Diogenes’ Dung

Israel’s destruction will kill America’s pimp.

MASTER OF UNIVERSE
MASTER OF UNIVERSE

On March 10th around 11:00am 2008 Bear Stearns time New York shitty the American bureaucracy figured out that the Treasury Secretary, Goldman Sachs-of-shit, and Lehman Brothers Inc. were at loggerheads financially. On September 16th 2008 the establishment elites figured out that the Western empire of Fractional Reserve Banking was too far into asset inflation to undo the misallocation of global finance so they planned to consolidate with underground nuclear blast protected safe houses away from populations that were undoubtedly going to be decimated by World War Three & hot conflagration between superpowers that are diametrically opposed to being subjugated by competing superpowers.

GAME ON between superpowers all vying for market share and financial supremacy. The American Government has shown the world how adept it is at financial supremacy when they ushered Nixon into office for his bastardization of sound money so that America could continue to pretend that it still held hegemon status with a petro-backed reserve currency instead of the gold backed underwriting standard of the world & history of banking in modern times.

America’s manifest destiny is to finally receive appropriate comeuppance for manufacturing a control fraud that literally destroyed the entire world beyond repair.

China & Russian Federation:

‘Go ahead, Make America Great Again, punk.’

‘Are you feeling lucky, punk?’

MOU

TS

These people crack me up. Like any of them – or any of us – could do any better. Talkin’ shit is real easy.
I’ve never been an ‘always Trump’er; as far as I’m concerned he pulled some pretty shady shit during the Primaries. Having said that, I am most definitely not a ‘never Trump’er, either. What I am is most emphatically a ‘NEVER HILLARY’er. Or ANY Demo-fuck. And this from someone who really can’t stomach hardly any of the Republi-cunts, either.
We are truly blessed just by the fact that by Trump getting elected we bought some more time, to do whatever it is each of us believe we need to do in this day and age.
The world is running as hard and fast as it can toward a bitter end, and Trump sure as hell didn’t set the stage, he merely stepped out on it.

Diogenes’ Dung
Diogenes’ Dung

Bingo. There really won’t be an option except Trump in 2020.

American culture is currently colored by righteous Libtards, whose gender-blenders fist-fuck everyone as they constantly accuse Trump of rape.

Mustang
Mustang

Dear Tom,
Previously, I encouraged you to get back on your meds. Apparently, you have ignored my request. I will give you $20 to start taking them again.

Diogenes’ Dung
Diogenes’ Dung

B’da b’da $20!, ‘stang bda $20!, Who’llgimme $30, Bda bda $30?

Stucky

This dude will now go in my Dumbfuk file folder.

I am NOT a Trumpeteer. You all know that!! But, this is nothing more than a hysterical never-Trump piece of shit article.

As just one example; China has been fucking us for decades … stealing all our technology is especially irksome, as is their counterfeiting …. and Trump is finally trying to DO something about it …. and he’s against the attempt to right the ship?? Wow. Dumbfuk folder material for sure.

He says Trump is doing it because of his ego. More dumbfuk material. The ONLY person who would know that is Trump himself. Unless, of course, this Luongo dipshit can now read minds.

gatsby1219
gatsby1219

It ain’t easy being a superpower.

The US needs no one.

WWG1WGA

Thunderbird
Thunderbird

The world moves on regardless of who thinks they own it. The US cannot bring Iran’s oil exports to zero unless they put a blockade on Iranian oil shipments. That would be an act of war. It seems to me that the last time the US did this we got Pearl Harbor bombed.

We are at a dangerous crossroad. I am beginning to understand Albert Pike’s letter about WW1, WW2 and WW3. How could he know speaking about our times out of the 19th century?

Trump came to office to upset the status quo. He has certainly done that. But in doing that he is waking up a sleeping giant; the american people… and the people of the world.

Money has no spiritual value. It only has material value. And all material things die. Just like all empires eventually die.

We are all witnessing the death rattle of the current empire.

ordo ab chao
ordo ab chao

Thunderbird says:

” I am beginning to understand Albert Pike’s letter about WW1, WW2 and WW3. How could he know speaking about our times out of the 19th century?”

Maybe, he was shown ?

annuit coeptis novus ordo seclorum<<been planned a long time

Diogenes’ Dung
Diogenes’ Dung

Thank you. Thank you. Thank you!

Hall’s “Secret Destiny of America” was delivered yesterday, a fine old copy and I’m soooo excited but so far, I’ve been too preoccupied sniffing its yellowed pages to read it.

Diogenes’ Dung
Diogenes’ Dung

Perfect sound track for its digestion

Diogenes’ Dung
Diogenes’ Dung

Ahhhhhh… delicious… notes of Holy Water; the chalk and vinegar of beer hall urinals; lingering, burnt hair prayers offered to fiery platforms carrying aloft those who fly on wings of faith.

ordo ab chao
ordo ab chao

Hahaha….Is that Mephistopheles I see peakin out from behind Massa Dung?

annuit coeptis novus ordo seclorum-

ordo ab chao
ordo ab chao

Manly P. isn’t the one to whom monuments were built. That goes to the Sovereign Grand Commander Pike; Morals and Dogma be his book……..

annuit coeptis novus ordo seclorum-

Quote from wall in a beer hall urinal:

I’ve smoked dope, chewed rope, dirty danced, and French romanced:
I’ve farted, fought and phucked, shot at the moon, and drove a big truck:

I been to Maine, Spain, Spokane and Fort Wayne;
Been around the world, at two world’s fairs, hell,
I’ve seen goats aphuckin in the market square;

But I ain’t never seen no sheet, like the kinda sheet I see
goin’ on around here……..

Hardscrabble Farmer
Hardscrabble Farmer

“I been to Maine, Spain, Spokane and Fort Wayne;
Been around the world, at two world’s fairs, hell,
I’ve seen goats aphuckin in the market square”

I wrote that. It was my last road tour, 1999.

Sam Fox
Sam Fox

I have no sympathy for the devil. I am gonna shout YIPPPPPPIIIIEEEEE! big time when that thing hits the lake of fire.

I suppose un-Constitutional big govt, over regulation, losing manufacturing to other nations, the badly lost war on some drugs, other countries eating our lunch via terribly bad trade policies & deals– especially China, income taxes & the ‘Federal’ Reserve are Trump’s fault as well. Oh Lordy! Farmlands are flooded. Trump did it!

Give the dimms, fake conservative RINOs & the NWO a pass, blame Mr. T. SUUURRRRE! Chicken squat.

SamFox

ordo ab chao
ordo ab chao

Ruffle some feathers in your hen house, Mr. Fox?

annuit coeptis novus ordo seclorum- it doesn’t matter whether it’s your Nero hero, Trump; or Sam Sausage, the same strings would be pulling them.

Watchin cartoons this morning, Sam Simpleton?

Diogenes’ Dung
Diogenes’ Dung

Sheeeeessh, Ordo. I mean, dang, Bro. Maybe lighten up on Fox’s TV?

This place be a shit-show cartoon or flies like me wouldn’t be here.

I thought Fox’s TV was reporting on the cartoon goats fucking in our market square.

niebo
niebo

LOVE IT but try this version:

Boat Guy
Boat Guy

End of the line for the US economy or everybody else . So I say screw the rest of the world , America and American citizens first . Don’t like that move , get the fuck out , go away . The new world order bullshit has done enough undermining of the US and it’s citizens . America First

niebo
niebo

I can’t recall who suggested it first, but right around the time he was elected, someone posed the idea that “they” would pull the plug on the economy and blame Trump, so that there was no way he could be re-elected in 2020. Of course, anybody who is awake knows what a scam the economy is already/has been for decades and across however many other administrations, but WE aren’t the FSA who will lose their minds and what meager situational morality they may exercise and go “full-loot” at the first opportunity. Those guys are the problem, not only because of arrested development but also because they buy what the media sells them, and I cannot believe the sh*t the media has been selling for the last 3 years (and that people actually buy it), lies, propaganda, and imaginationism, and all because HRC lost? No, but that’s part of it. Because Trump won. Sounds like a word game, but HE ran on a platform of nationalism (America first), justice (“lock her up”), and anti-corruption (drain the swamp). THEY wanted the puppet HRC to get her marching orders from the CFR and rain hellfire and damnation onto the US. But instead, they got his inauguration speech, and I think it terrified them: “Give the power back to you, the PEOPLE” is the LAST THING these bastards want and wanted to hear, and now they know now that they have at least half a country to distract/deter/discourage/demoralize/destroy before THEY can seize power again and do as they will. We are the last nation to stand in the way of the NWO, and they know it, so they have to unleash all of the powers they possess to silence truth and broadcast their lies and lies and lies.

So, maybe he is the bankruptcy king, and maybe he is the controlled-opposition, “put” there to fulfill the role. Or maybe they will hang the economies of the world around his neck like a millstone. Either way, this BS article is exactly the type of propaganda to expect in the future: Trump=devil.

ronehjr
ronehjr

In case you haven’t noticed, the global economy is ruining the globe. Out of control production of crap we mostly don’t need are ruining the environment(not through global climate change, but the destruction of the natural habitats of other things besides humans), and leading to mass migrations, which are destroying the West, and will lead to war in the not so distant future. There is a price for unchecked greed, and we are about to pay it.

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