One casualty of the House chaos is also a lesson for what a Trump chaotic president would mean to the financial well-being of this country. Investors hate chaos, and it destroys faith that we can meet our nation's financial obligations in the future. The article below is what happened in mid-November in the middle of a chaotic House caused by a minority of fanatical Trump followers. Our nation's credit rating was downgraded. The potential of credit downgrades can harm consumers and investors in American business and in government bonds..
This Trump-caused chaos would be on steroids and make what just happened in mid-November look like a hiccup. It all begins on Day One of the Trump presidency, and his ducks were already in a row, official paper already drafted, approved, and printed, just waiting for him to give the word. sign the executive order, and appointments of only his loyalists and yes people.
Update 2 16 2024:https://thehill.com/business/4426965-trump-added-8-4-trillion-to-the-national-debt-analysis/ While Trump's debt was partially caused by COVID, nearly 2 billion of the debt was owed to the tax breaks to the rich and the loss of revenue to the federal coffers. Trump is right in citing the relief measures in financial help to Americans to help them cope with the loss of income as one of the contributing factors, but what does he mean? He was sorry he did it?
Imagine if Trump were elected in November 2024. .He has made it clear on day one, after signing every executive order and appointment order as ready to go that first day that puts his loyalists, including military brass and business regulatory agencies, replaced that day with those who were there for one reason: saying yes to the boss. Dissension would not be permitted, skills and experience were not valued, and warnings of unintended consequences were ignored.. Among those mandates he has promised is to sign the insurrection act, replace the Joint Chiefs, and call in the active military to put down any street demonstrations of which the "boss" disapproves. Imagine how something like the Women's March occurred immediately after Trump was sworn in the first time, and imagine the military putting that one down. There would be no Gen. Milley to say it was unconstitutional in his opinion, either. What if, on day one, his appointments to the Federal Communications Commission decided to launch an investigation of media with some flimsy pretext to yank their licenses.. The only sin that the media committed was that it had a history of being critical of Trump. Trump has promised that. What if, on day one, Trump issued an executive order to replace all civil servants with those who signed a loyalty pledge to Trump, which is exactly the plan already in the works and names taken by the "Heritage Foundation" and already funded as Plan 2025..
That is just for starters, as business people recalculate and scramble to adapt. International businesses have had plenty of experience in dictator Orban's Hungary and in Putin's Russia, with doing business with autocracies/dictatorships. That model of awarding business licenses and contracts to loyalists is the most corrupt system possible. Either the business becomes the bootlickers of the "boss" , they give kickbacks, or they use bribery of key officials to get decisions that go their way. If they crossed the 'boss" in Russia, they ended up in jail or got the poisonous jab, or their airplane crashed, killing all, or they "fell" off a balcony. Now, Navalny, in a gulag, has been "disappeared". Update 2 15 2024: R.I.P. Alexy Navalny whose sin was exposing the corruption of the Putin regime and turned that outrage into his opposition to Putin. His main crime: blowing the whistle on Putin's corrupt benefit from his position. In Hungary, you just got your license to do business taken away if you did not please "the boss." What if the 60 percent of those who do not want such a dictatorship and find the Department of Justice only prosecutes the disloyal to Trump have to take to the streets. Imagine what investors in the US bonds would do if that chaos happened. Chaos destroys economies and business dealings. The certainty that dictatorship brings is wealth follows those who please the "boss" , even if what is offered and awarded is not best practices but what the "boss" thinks.
The"boss" we know now got his wealth by lying to creditors and lenders and had over 20 bankruptcies."Boss" Trump made the decisions.
If judges throughout the country court proceedings to deal with challenges that the boss was acting unconstitutionally and the country is tied up in knots for years or if Congress tries to revolt against unpopular edicts from the Boss., Chaos would be a long-term matter, not a temporary transition to dictatorship..
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