Trump’s economist Peter Navarro grabbed all the face time Friday, telling everybody who would listen that the economy is rocking. The rest of the economic community is spreading rumors of doom and gloom.
Navarro isn’t lying — in the short term. But by the time Donald Trump finishes destroying what is left of U.S. trade and goodwill, things will be a lot different.
The reported gloomy outlook is the result of Germany’s two-quarter slide into negative growth, a definition for recession. That is supposedly a precursor to a European economic slide that will creep across the Atlantic to bite Trump’s 2020 madhouse economy claims in the ass.
Navarro, buttoned-down in his conservative clothes and square glasses, denies the presumptions are true. On Friday he was telling everybody in television land about the burdens of an economics professor that he used to be, to illustrate his rock-hard conviction he can’t be wrong.
Officially, Navarro is Assistant to the President, and Director of Trade and Manufacturing Policy. Basically, he acts as Trump’s economic surrogate and soothsayer.
Navarro currently espouses, rather than teaches, supply side economics. In its simplest model, all the advantage is with the supplier, leaving demand controlled by suppliers who can and probably will manipulate markets to their advantage.
Supply side pirates set cost by artificially limiting supply, thereby increasing demand and cost by creating scarcity. Trump’s infatuation with supply side’s opportunity for rapacious greed is completely predictable.
“I teach that stuff. I mean, let’s remember – if anybody knows what goes wrong with these models, it’s the guy who knows how to teach them.”
Models are what economists create using formulas that seem more prediction than mathematical facts outside a controlled environment.
Navarro says much the same thing at every pit stop. He has been body slammed for preaching predatory economics to the mercantile community since Trump sidled up to him and joined him at the wallet.
Long ago, a semi-famous economics professor who served the Kennedy administration evolved into an aging tiger at the U. of Missouri, defending Keynesian economics that guided investment and growth for the first half of the 20th Century. He taught that guys like Navarro are essentially varmints and poltroons.
Keynesian theory is an ostensibly benevolent economic model that encourages investment in struggling economies to positively influence the health and goodwill of the world economy. It developed a big glitch around 1971 when all that goodwill suddenly came home to roost after little economies started competing in the same markets their benefactors did.
At the core of Keynesian theory is a cautious monetary policy and conservative fiscal policy to guard against rampant recessions and depressions. Trump hates the entire business. Scrooge and Trump share a similar disdain for their responsibility to the human race.
Thankfully, economic theory is like fog, a slippery substance that laps at the edges of market realities predicting what will happen next, knowing it could be meaningless in a cataclysmic instant.
Trumpian economic theory is a perfect example. Based on “throw shit against the wall and see what sticks” theory, Trump tosses out enough bullshit to dangerously influence “normal” market pressures.
In “Bizarro World,” where Trump lives, word spewed out he wants to buy Greenland. Denmark isn’t selling. While ridiculous on its face, his utterance is a perfect example of the kind of cataclysmic things stupid Mr. Trump says to shatter the tranquility of nations.
In early WWII, German Nazis occupied Denmark and subjected it to terrible cruelties until the end of the war. Among other things, Adolf Hitler needed northern air bases and a string of weather stations in Greenland so he could better bomb Europe.
“So what?” you might ask.
Greenland, the world’s largest Island, is an autonomous protectorate of Denmark. The barren, hostile, empty rock- and ice floe-covered island is coming into its own in the element-scarce world of the 21st century.
Unfortunately, since the advent of things like Nazis, Denmark is very sensitive to the actions and behaviors of its powerful neighbors because it is too big to hide and too small to influence much.
American-leased Thule U.S. Air Force Base on Greenland is a case in point. It is an essential outpost for the U.S. because its planes and electronic gadgetry keep tabs on Russian activities in the air space north of NATO Europe.
When Trump’s fantasy real estate deal leaked from the White House swamp — to say the least — it startled Danes.
It generated such a powerful reaction there, it was argued in Denmark’s press whether Trump’s offer constituted a reason to suspect the motives of the right-leaning, dictator-prone, power-mad narcissist with the bad do was a perverse threat.
One Greenlander tweeted: “Oh please God no” at the prospect, while another tweeted, “We are not something you can just buy. Keep away from our country,” adding the hashtag “#Jerk”.
Danish politicians also mocked Mr Trump’s idea, the British newspaper Independent reported.
“If he is truly contemplating this, then this is final proof that he has gone mad,” foreign affairs spokesman for the Danish People’s Party, Soren Espersen, told broadcaster DR. “The thought of Denmark selling 50,000 citizens to the United States is completely ridiculous”.
“If United States of America buy me and my Greenland fellows, then what? Are you sure? @WhiteHouse @realDonaldTrump,“ tweeted one Nuuk expedition company employee.
Nuuk is a town in Greenland. The entire island, one-fifth the size of the USA, has about 55,000 inhabitants.
According to its website the summers are cold; the winters are long, freezing, snowy, and windy; and it is overcast year round. Over the course of the year, the temperature typically varies from 11°F to 50°F and is rarely below -1°F or above 55°F.
Based on a website tourism score, the best time of year to visit Nuuk for warm-weather activities is from mid-July to early August.
Trump should move there.