Trump to run America to the tune of his business affairs

Trump promised the Americans higher wages and more opportunities to get to the White House. He has already failed them on both accounts and more. (Gallery Archive, from ‘The Campaign Trail with Donald J. Trump’. Donald J. Trump for President, Inc.)

Trump promised the Americans higher wages and more opportunities to get to the White House. He has already failed them on both accounts and more. (Gallery Archive, from ‘The Campaign Trail with Donald J. Trump’. Donald J. Trump for President, Inc.)

In the short period after the 8 November election that brought him to the Oval Office of the White House for the next four years, President – elect Donald Trump has more or less outlined the policy mix he is going to implement as from 20 January. His choices for key government positions and his personal and improvised tweets about crucial matters like the US-China relations have sent clear signs about his future policy options and tools.

Despite the fact that he is to assume the most serious office in the world, traditionally functioning under meaningful formalities and thorough examination of options by an army of advisers and experts, he keeps using his personal tweet account to introduce new foreign policy lines. It’s exactly the same when he sets to sketchily bring about far-reaching changes in the constellation of the American business universe and the main economic sectors.

Unpredictability to reign

In this way he tells everybody that he will manage the US government affairs as unpredictably and spontaneously as he has been running his business affairs. The fact that he has never held a government position and given his long personal engagement and active occupation in TV productions, makes him an odd choice for a solemn supreme political and military commander of his great nation. But let’s take one thing at the time.

Starting from Trump’s main political message during his long electoral campaign, he unswervingly invited to support him the Americans who are left behind and feel abandoned by the governing elites. It’s the tens of millions of people who have grave difficulties in getting a job and even when in employment find it difficult to make the ends meet. What did he do after getting their votes and winning the race to the White House?

Now it’s different

He chose Andrew Puzder CEO of CKF Restaurants as Labor Secretary, a sworn enemy of any prospect of increasing the minimum wages. This is a blatant denier of government regulation in the workplace and a strong critic of the workings of the National Labor Board Relations. Puzder will surely try to further deregulate the labor market, obviously to the detriment of the lowest paid Americans, who work in the restaurant and retailing business. If this is not a full contradiction between electoral rhetoric and White House policy and a betrayal of the left behind workers, then words have lost their meaning.

There is more to it though. Undoubtedly, education is one sure way for securing better prospects in the lives of people. It is also self evident that state supported schooling system offers such opportunities to the left behind Americans. Again Trump, with his decision to appoint as Education Secretary Betsy Devos, a billionaire supporter of private education, is undermining the prospects of the less educated to improve their lives, who voted for him. Devos is an advocate of the expansion of the private and charter schools and the relegation of the public education system. No doubt then that Trump favors the more affluent to the detriment of the less well off.

He stole the votes

In the financial sector which ‘produces’ 7.5% of GDP in the US, Trump has already done exactly the opposite of what he promised. In the four weeks after his election, the Wall Street stock exchange passed from one historical record to another, making the New York financial sharks much richer. In this brief period the fortunes on the few systemic bank CEOs have grown by hundreds of millions dollars without their owners having done anything.

Both the top economic jobs in the Trump administration are filled with persons coming from New York’s financial sharks’ pool. Steven Mnuchin, a top brass at Goldman Sachs for 17 years and presently owner of Southern California’s largest lender, OneWest Bank, is the new Treasury Secretary. Gary Cohn Goldman Sachs Group President and Chief Operating Officer is to become the head of White House National Economic Council. Their job will obviously be to protect the interests of the financial sector at the expenses of the rest of the economy and the society.

It’s another business project

On top of all that, Trump himself has made clear that he will not abandon the helm of his world-wide business empire while working in the Oval Office. He has also not clarified if he is not to use his new role in protecting the country’s national interests, in order to promote his private affairs. Being a businessman all the way through is rather difficult for him to avoid using his newly acquired powers in order to promote his business interests. Even without asking for anything, foreign governments and the US administration will think twice before declining a demand or scrutinising a business outlet of his immense world-wide economic empire.

In short, Trump is betraying the left behind Americans by making Wall Street bankers richer and appointing some of them in key government positions. At the same time, he sides with Russia in a rather dark way and for obscure reasons and unnerves China by questioning the four decades old US position of ‘One China’. Beijing’s reaction was strong and clear. Last Monday 12 December the Foreign Ministry of China said that if Washington doesn’t recognize Beijing’s central interests on Taiwan any more, cooperation between China and US is “out of question”. The same source also added that China will reject any attempt by the Trump administration to use this issue as an additional chapter for negotiations in the list of commercial and security problems.

An oversized ego

All in all, Trump’s full u-turn on what he promised to voters, his chancy way of doing foreign policy and his decision to continue overseeing his businesses indicate that he views both the way he got to the White House and what he will be doing in there, as another business project of his. With business interests and an ego equally enormous, he is bound to transform a public office into a personal affair. His actions most probably will harm the average American and the US interests around the world, but he will surely service his business and his ego very well. Europe has to prepare to confront Trump’s aggressiveness in all fronts. He will try to squeeze out of Europe as much as he can, notably money! Having betrayed his compatriots he won’t stop at nothing when it comes to the European Union.

 

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

EU to spend €135.5 billion in 2014 or 6.5% less than this year

Biggest London City Banks ready to move core European operations to Frankfurt or Dublin?

A new global financial crisis develops fast; who denies it?

How did Facebook fool the Commission that easily during the WhatsApp acquisition?

The EU can afford to invest trillions in support of employment

On the euro but out of it?

Turkey caught in a vicious Syrian circle bringing terror and war at home

JADE Testimonial #1: Marcello @ Enlargement

On Youth Participation: Are we active citizens?

The Parliament accuses core EU countries of exploiting their dominant political position

EU to spend €6 billion on youth employment and training futile schemes

EU regional differences betray an unjust arrangement

World Health Organisation and young doctors: is there any place for improvement?

Summer pause gives time to rethink Eurozone’s problems

Two women threaten to tear the world apart

Imaginary Journeys Into Eternal China

MEP Cristiana Muscardini @ European Business Summit 2014: International Trade in Europe

High-technology manufacturing saves the EU industry

Galileo funding: A ‘small’ difference of €700 million

Can Europe and the US reverse their nationalist and xenophobic drift? Is the West becoming belligerent?

The Brits are not an exception and that’s why they voted to leave

Minsk “ceasefire” leaves more doubts than safety, with EU already planning steps further

ECB’s first flight in Eurozone’s banking universe will be just a reconnaissance

The British “nonsense”, the relaxed Commissioner and the TTIP “chiaroscuro” at this week’s Council

MWC 2016: IoT experts fret over fragmentation

Why France, Italy and the US press Germany to accept a cheaper euro and pay for Greece

IMF: How can Eurozone avoid stagnation

High level political talks didn’t break the stalemate in Ukraine

“Airbnb and YouTube are two great examples of a crowd based capitalism”, key stakeholders outline the boundaries of the 4th Industrial Revolution in Davos

Can the EU afford to block China’s business openings to Europe by denying her the ‘market economy status’?

Trump asked Merkel to pay NATO arrears and cut down exports ignoring the EU

EU to gain the most from the agreement with Iran

Who cares about the unity of Ukraine?

Brexit: when the hubris of one man can set the UK, the EU and the entire world on fire

Hollande protects the euro from the attacks of extremists

New chapters in EU-China trade disputes

Two major EU projects falter; the Schengen Agreement now freezes and Eurozone fails to resolve the Greek enigma

“No labels for entrepreneurs!”, a young business leader from Italy cries out

Europe slammed by Turkey’s shaky Erdoğan; both playing with immigrants’ agony

Inegalitarian taxation on labour haunts Europe’s social model

2013, a Political Odyssey: What future for Italy?

The EU Parliament and the ECB unknowingly or unwillingly fail to protect our financial assets

ECB’s new money bonanza handed out to help the real economy or create new bubbles?

Dear China

ECB: The bastion of effective and equitable Europeanism keeps up quantitative easing

JADE President opens JADE Spring Meeting 2014

Cancer research put at risk by General Data Protection Regulation? The possible dangers of a data privacy EU mania

Opening Remarks by H.E. Ambassador Yang Yanyi, Head of the Chinese Mission to the EU at the Chinese Fashion Night

An entrepreneurial point-of view on tackling the migration crisis and the risks of abolishing Schengen

France and Poland to block David Cameron’s plans on immigration

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s