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Alternative Visions – Trump’s Election and Economic Consequences—US and Global – 11.11.16

Jack Rasmus discusses the economics behind why Trump won the election, and the economic legacies of the Obama regime behind why the white working class in the great lakes region—from Pennsylvania to Wisconsin—abandoned the Democrats and voted against the political elites and Clinton. Jack refers listeners to his shows earlier this year and predictions this would happen. (see also articles on his blog, jackrasmus.com). The no-college white working class vote was key, along with lower turnout for Clinton among Latinos, youth, and even African-Americans compared to 2008 and even 2012. The show then reviews the areas of economic consequences expected from a Trump election, including: booming stock markets, rising bond interest rates, big corporate tax cuts coming quickly, Infrastructure spending, more price gouging by pharmaceutical companies and health insurers, the early dismantling of Obamacare and Dodd-Frank bank regulation acts, likely repeal of alternative energy credits, restoration of the Keystone pipeline project, gutting of the EPA’s funding, suspension of proposed industrial plant emissions, refusal to implement the Paris climate accords, boosted production of gas fracking, pipelines, and coal production, an immediate Federal Reserve rate hike in December and more likely in 2017 now, renewed attacks on social security, surging government deficits and debt, general deregulation of business and across the board repeal of Obama executive orders and passage of anti-Latino immigration legislation. The consequences for the global economy are also considered, with focus on emergency markets currency collapse, capital flight and further recessions, rising US dollar and falling oil prices, China’s currency devaluation, Europe and Japan QE policies, and likely measures addressing free trade including NAFTA, TPP, and TTIP.

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Alternative Visions – Interview with Jill Stein, Green Party Presidential Candidate – 11.04.16

Dr. Rasmus interviews Jill Stein, Green Party presidential candidate, discussing the real issues of the presidential election and her Party’s positions and solutions to the deepening political and economic crisis in the USA. Topics addressed include Green party proposals for tax reform. Reversing job destroying NAFTA, TPP, and free trade treaties. What to do about escalating healthcare costs and prescription drug price gouging. How to eliminate student debt and provide free public college education. Solutions to the growing retirement crisis and how to fund doubling of social security benefits and Medicare for All. Who Jill would appoint to the Supreme Court and reverse Citizens United. Her proposals for immigration reform. And Green party positions on preventing US military confrontation with Russia in Syria, East Europe and with China in the south China seas, toward which the US continues to drift. How claims of ‘lesser evilism’ to vote Democrat to oppose Trump is a dead end and why voting a third party is the only way forward.

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Alternative Visions – ‘Behind the Presidential Debates—What They Reveal for 2017’ – 10.21.16

Jack steps back and discusses the three presidential debates in a broader context, focusing on what the debates reveal about what is coming in 2017: i.e. more aggressive US foreign policy action in Syria, against Russia, and in Southeast Asia (Philippines) soon after the election. More attacks on civil liberties by US political elites to silence alternative perspectives like Wikileaks and other media. More internecine conflict within the elite ranks of the two main political parties as they deal with rising popular rebellion against the ‘political class’, on both left and right. Republican and Democrat party elites ‘shoring up’ their rules to avoid Sanders-Trump type internal challenges re-occurring in 2020 and elite efforts to more tightly control their primary nomination processes and conventions. A growth of independent political parties as ‘rebellion against the political class’ moves outside the two party structure. Rising rent, healthcare, and inflation, and continuing wage stagnation for the bottom 90% of the workforce as US recession returns in late 2017. Growing disaffection of the millennials from the political system. (Next week: interview of Jill Stein of the Green Party and Gary Johnson of Libertarians).

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Alternative Visions – Presidential Debates & the US-Russia-Syria Conflict – 10.14.16

Jack provides a brief overview of important developments in the global economy this past week, focusing on China. Renewed financial bubbles in real estate and rapidly slowing China exports that reflect a slowing global economy are discussed, as is the Asia region economy in general. The ‘canary in the Asian economy goldmine’, Singapore, recorded a -4.1% GDP contraction, as shipping sector indicators reveal a global economy and trade continuing to stagnate. Most of the show then focuses on the 2nd presidential debate of last week. Special attention is given to the comments by Clinton on the Russians—i.e. the declaration of alleged hacking of the Democratic party; the assertion that Russia is behind the recent Wikileaks revelations about Hillary’s ‘dual’ strategy (of saying one thing in closed meetings to business and bankers while another, sometimes opposite, to the general populace in her campaign); and her explicit statement in the debate the US should impose ‘no fly zones’ and commit US special forces to the conflict in Syria. Is the US sliding toward a direct confrontation with Russia in Syria? Does Hillary’s position represent the US war hawks’ re. Syria? Reading between the lines, the 2nd presidential debate appears to suggest so.

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Alternative Visions – Why the FED Will Soon Raise Rates And What Happens When It Does – 10.07.16

Dr. Rasmus explains why a Federal Reserve interest rate hike is coming very soon. Why central bank monetary policies in US, Europe and Japan have failed miserably to generate real economic growth since 2010, but were always focused on boosting stock, bond and other financial markets. Now, however, they no longer even stimulate financial assets but are increasingly causing financial instability in pension funds, insurance annuities, bank margins, retirees’ consumption, and will therefore soon be shelved. Anticipating the shift, central banks in Europe and Japan are adjusting their monetary policies in turn. The likely negative consequences of the US Fed rate shift globally are discussed. A new shift to fiscal infrastructure spending, business tax cuts, and abandonment of austerity fiscal policies are now on the agenda following the US election and in 2017 in Europe and beyond. The show concludes with analysis of the 1st presidential debate and why Trump, despite a disastrous debate performance may still win critical ‘swing states’ in November.

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Alternative Visions – Deutsche Bank & the Deepening Euro Bank Crisis – 09.30.16

Dr. Jack Rasmus reviews recent developments in the growing instability in Germany’s largest bank, Deutsche Bank, and explains how it is a reflection of a deeper, ongoing crisis in the Euro banking system itself. Parallels of Deutsche Bank—the ‘Goldman-Sachs’ of Germany—with the 2008 crash of US Lehman Brothers investment bank are discussed, with Rasmus predicting the German central bank, Bundesbank, will eventually bail out Deutsche—unlike the US decision in 2008 to let Lehman go under. Also addressed: how Rasmus’ theoretical work published earlier this year, ‘Systemic Fragility in the Global Economy’, predicted the growing crisis in the Euro banking system, which is now expanding beyond Italy’s banks to Germany and beyond. How the Deutsche crisis is exacerbating in-fighting between the Bundesbank and the European Central Bank, the ECB, and attacks on ECB chair, Mario Draghi. The Deutsche-Euro bank crisis is a reflection of the growing awareness of the failure of the ECB and other central banks’ QE and negative rates policies—including the US Federal Reserve—to stimulate the real economy and only boost stock and other financial markets. Jack explains how the Deutsche affair is also a reflection of the failed structure of the Eurozone currency union itself. The show concludes with brief comments on Saudi Arabia/OPEC’s recent decision to cut oil supplies to raise global prices, how Japan is considering redefining its GDP in order to raise growth on paper, and on the phony debate on taxes during the recent 1st presidential debates this past week between Clinton and Trump. (For more on Jack’s analysis of the 1stpresidential debate, read his article at his blog, jackrasmus.com, or go to the PRN website articles archive).

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Jack Rasmus – Hillary’s Ghosts

On the eve of the first presidential debate, concern is growing among Democratic candidate Hillary Clinton supporters that her previous lead in the polls is narrowing and Republican rival Donald Trump is nearly "neck and neck" in voter support in key "swing states." In what are two of the three ‘bellweather’ states—Ohio and Florida (the other is Pennsylvania)—Trump appears ahead going …