None of this helps the majority of people who voted for Trump, supposedly against the big business, Wall Street candidate Hillary Clinton. What does Trump offer capital? He says that he is going to make “phenomenal” cuts in corporate taxes on profits, lower taxes for the top 10 percent of income earners, deregulate the banks and finance sector that caused the global financial crash in the first place, and introduce a program to build bridges, roads, airports, and other infrastructure projects.
These are designed precisely to boost the profitability of capital, specifically American capital, cruelly at the expense of the very people who voted for him and deliberately at the expense of America’s economic rivals, namely China, Europe, and Latin America.
The strategists and owners of capital are turning a blind eye to Trump’s antics and instead hoping that he will successfully implement his economic promises. Why is this? Well, as it was once said, “It’s the economy, stupid!” His first four weeks in the presidency have seen bans on Muslim immigrants (reversed and then revised), appointments (and resignations) of wacky advisers, wild tweets, and attacks on the capitalist media for not backing him 100 percent in his fake news and alternative facts.īut what has been the reaction of the world’s financial markets, of the investors, big banks, hedge funds, and asset managers? The stock markets have been booming, reaching all-time highs. The “most powerful person in the world” is a bigoted, misogynist, super-egoist who appears to take no sensible advice and reacts like a spoiled child. The election of Donald Trump as US president has shocked the world’s elites.
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