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.

 

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Manufacturers Get Smarter for Industry 4.0

Why and how did ISIS and Muslim fundamentalism gain momentum this year?

‘Severe’ new US asylum restrictions will put vulnerable families at risk, UN refugee agency says

As Libya talks resume in Geneva, UN negotiator seeks to overcome sticking points

‘Well-being of two million’ in Gaza at stake as emergency fuel runs dry: UN humanitarian coordinator

Climate activist Greta Thunberg urges MEPs to put words into action

This is how COVID-19 is affecting informal workers

China’s New Normal and Its Relevance to the EU

China’s response shows how bold decision-making can contain coronavirus

Rohingya emergency one year on: UN says thousands of lives saved, but challenges remain

Africa: Urgent action needed to mobilise domestic resources as tax revenues plateau

A funding gap is hurting developing countries’ efforts to contain COVID-19

Huawei answers allegations about its selling prices

EU-China relations under investigation?

Decisive international action needed to end Israeli occupation: UN rights expert

Banks get trillions and the unemployed ECB’s love…

Gynecologic care in the 21st century

Modern society has reached its limits. Society 5.0 will liberate us

Western Sahara: a ‘peaceful solution’ to conflict is possible, says UN envoy

Bilbao’s city parks offer brain-training games for the elderly

ACP-EU : Agreement on climate change, migration and post-Cotonou

Industrial price dive may lead to point of no return

Long-term EU budget: Parliament wants safety net for beneficiaries

ESCALAR: up to €1.2 billion to help high potential companies grow and expand in Europe

SDGs and the historical and economic impact on Brazilian health

Sweden gives all employees time off to be entrepreneurs

How COVID-19 could open the door for driverless deliveries

A European student just sets the question of the day: What kind of education policies are missing in Europe?

EU is not only obsessed with Facebook but also blaims now innocent websites using social plugins to serve democratic dialogues?

Civilians ‘continue to pay highest price’ in Ukraine conflict, with peace prospects losing ‘momentum’

Viktor Orbán, Hungarian Prime Minister, at a 2015 event in Brussels, Berlaymont. (Copyright: European Union , 2015; Source: EC - Audiovisual Service; Photo: Lieven Creemers)

Hungary and Ireland build front to say no to EU tax harmonisation plan

Summertime Consultation: 84% want Europe to stop changing the clock

Can we understand how the universe was formed? A young scientist explains

MEPs to debate priorities for 28-29 June EU summit

Some progress made towards security in Mali, but still a long way to go, Security Council hears

UN rights chief ‘alarmed’ by upsurge in attacks against civilians in Syria’s Idlib

An economist explains how to go carbon neutral in our lifetime

Heard about deepfakes? Don’t panic. Prepare

Chinese tech investors are turning towards MENA. Here’s why

May a parody constitute a copyright infringement? European Court of Justice to give the answer

Social media and the lack of information for blood donation

New rules for audiovisual media services approved by Parliament

MEPs propose ways to boost plastics recycling

EU migration crisis again accentuates lack of unity and solidarity among member states

Barriers to trade: as protectionism rises, EU continues opening up export markets for European firms

This is how India can become the next Silicon Valley

Parliament supports European Green Deal and pushes for even higher ambitions

Trump ostracized by his party and world elites but still remains in course; how can he do it?

Address by the President Antonio Tajani at the funeral of Nicole Fontaine

Climate change is a disruptor. Here’s how to harness it for innovation

3 ways firms can master the digital challenges of the 4IR

SMEs turning to alternative financing instruments as growth slows in bank lending

The Ecofin deceives the SMEs with the EIB €10bn capital increase

Emotional stability and the COVID-19 pandemic: is it possible to reconcile them?

Civil society groups matter for Cambodia’s sustainable development: UN expert

Eurozone: Retail sales and inflation point to recession

What does Tsipras have to offer to the rest of Europe? Is it worth an early advance of €10 billion? Berlin sturdily denies it

UN member states express their will to tackle global migration but specific actions are still missing

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

Here’s how we can tackle the growing cybersecurity skills gap

More Stings?

Advertising

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 )

Google photo

You are commenting using your Google 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 )

Connecting to %s