Back around the time when I first started this blog, I predicted that the next president following Obama would sign into law a repeal of most, if not all, of the Dodd-Frank Act. And sure enough, with little fanfare as the media is largely focused on Russian phantoms or (more understandably) the destruction of what little public healthcare exists, the end of most of Dodd-Frank is proceeding down the legislative pipeline. Any hopes that the “populism” of a real estate mogul president would lead to tougher bank regulations is fading fast.
The greatest trick the devil ever pulled was convincing the world it didn’t exist. The drone strikes and wars being perpetuated by the same groups of people regardless of political affiliation made the idea of a deep state seem more and more an acceptable topic to discuss in 2016. But a major fault that parts of the US Left made, most blatantly by Jill Stein, was to assign Hillary Clinton as the sole, anointed candidate of the imperial state.
Trade, trade, trade. The only thing that President Trump has consistently raised as often as his racist hatred of immigrants and imperialist threats against Muslims is trade. The appeal of this invocation of trade is the idea that the trade deals of the past few decades (most infamously NAFTA) are responsible for the mass outsourcing of primarily working class jobs. It is an argument that does not enjoy the support of economic orthodoxy which stubbornly holds to its free trade dogma, but has broad political support outside of it. As Dean Baker points out, the increase of the trade deficit is directly correlated to the loss of manufacturing jobs.