Trump has placed the Reagan radical regulatory experiment on steroids.
For decades, this has been a Republican wet dream, Unbound capitalism that will police itself. For some self destructive reason they fail to recognize, accept, this economic theory always ends up like the final moment of a dying sun. It collapses upon itself and then explodes outward with great destruction.
When Reagan took office he put in place the biggest tax cuts since the 1920s. He put a freeze on all new regulations. He then deregulated the entire financial system. We all know what happened at the end of the 1920s. Reagan deregulated the banks, including the investment banks. Investment banks were allowed to go public (stock holders). They grew into giant corrupt monsters. Reagan privatized industries, attacked unions.
In the short term this improved the economy, which is not saying much because the economy was in bad shape when Reagan took office. During his second term you started to see the results of his radical policies. Corruption, greed, led to a stock market crash, bank scandal and recession. Reagan's failed theory continued on through Clinton and Bush which led to the Housing and Bank collapse in 2008. It nearly led to the 2nd world wide great depression.
Most Americans do not understand how close we were to a great depression in 2008. If we did not bail out the big banks they would have shut down for good. That would have shut down the payroll system. Thousands of businesses would have not been be able to pay their workers, game over.
Trump is doing what Reagan did and more. Trump has put a freeze on new regulations. He has eliminated thousands of regulations. At the same time Trump has down sized every government agency accept defense and veterans affairs. All the government agencies that perform oversight have been down sized. Agencies that protect the environment, financial system, labor, workers safety, food safety, etc, etc, etc.
All of this leads to corruption and fraud. This will result in scandals and economic problems in time. Under both Reagan and Bush it took to their 2nd term before the corruption, damage reared its ugly head.
I am 100% convinced we are heading for a major scandal and/or an economic crisis. How severe I don't know. Something else I am worried about is this. Trump has weakened the public safety net. He has also weakened the tools used to combat an economic crisis.
I started to prepare for this moment the day Trump was elected. I posted about it many times. What I believed then has been verified.
We are in great economic danger. Protect yourselves as best you can.
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