Peter Koenig at The Saker Blog looks at the wreck that Trump is making of the global commerce status quo. Where as we assumed he was more of a bull in the china shop, perhaps it is something very different.
I think that this is BIG.
The globalization effort of the last several decades most benefited the owner class. Factories were moved to places where $2/day workers were unlimited, while cheap petroleum permitted transportation of finished products to market on container ships and trucks.
Local econmies and local jobs were damaged as those pesky $25/hour union workers in small town USA could be laid off and the school systems funded by their taxes fell into decay. The children played in abandoned lots where factories once stood and the unemployed union workers seek solice in Miller Lite, OxyContin and TV.
But the owner class absolutely LOVED globalization. It was enthusiasticly backed by both sides of the isle.
Then comes Trump disrupting trade agreements and sanctioning and threatening just about everybody trashing the globalized status quo.
From afar [Trump’s actions] looks like the most wicked and non-sensical trade war the US via Trump, is waging against the rest of the world – à la “Make America Great Again”. …. Knowingly and deliberately the west and it’s financial key institutions, IMF, World Bank, FED, European Central Bank – trick the public at large into believing their statistics and predictions – which, if one goes back in history, have always been off, way off.
So, in response to the latest Trump-promoted trade fiasco at the G20 in Argentina, the IMF is up in arms, saying this might lower world GDP by at least 0.5%. – Even if true, so what?
As one commenter at ZeroHedge points out, Trump is pissing off all the right people, so maybe he is doing something right. And that is:
[W]hat [can] renewed local production and monetary sovereignty bring to the world economy; precisely what Mr. Trump says he wants to propagate for the US of A – local production for local markets and for trade with countries that respect mutual benefits.
Rather than have the entire globe be the personal sandbox of the oligarchy, the destruction of globalization can bring manufacturing and consumption back into a local focus. This is the same kind of effect that the anticipated high oil prices of tomorrow will have. Crashed trade agreements start this movement today, before high oil prices force it tomorrow.
And rather than the entire globe being a single sandbox for predatory harvesting by the elite, the focus is changed to local economies who deal with each other in ways that benefits those local economies.
As we ponder the shape of a world without global supply lines, this could be a step foreward.
And oh does the Manhattan Elite hate Trump!!