Trump: Destabilizing the Economy-Is It Really Intentional? If So, for What Reason/s?

The Jack Hopkins Now Newsletter #300

Photo by Natilyn Hicks Photography on Unsplash

Destabilizing the Economy: Is It Intentional?

Many critics of Trump have argued that some of his policies...particularly his handling of trade, international relations, and economic management...have destabilized the economy.

What history/information are they using to measure this?

We Can Find Plenty of Answers in Trump’s FIRST term:

Trade Wars and Tariffs:

During his presidency, Trump initiated a trade war with China in 2018…imposing tariffs on hundreds of billions of dollars’ worth of goods.

While he argued that it was necessary to protect American industries, critics argue that it hurt many sectors of the U.S. economy…particularly agriculture…manufacturing…and consumers who faced higher prices on everyday goods.

Some analysts suggest that Trump's economic policies were designed more to serve his political narrative than to bolster long-term economic growth…arguing that these policies disrupted global markets and created volatility…destabilizing the U.S. economy.

Tax Cuts for the Wealthy:

Trump's 2017 tax reform, which primarily benefited corporations and the wealthiest Americans, was seen by many as an effort to create inequality under the guise of stimulating growth.

The tax cuts didn’t lead to the job creation and economic benefits Trump promised, but rather contributed to a ballooning deficit and deepening economic inequality, weakening the stability of the broader economy.

Handling of the COVID-19 Pandemic:

The COVID-19 pandemic, which hit during Trump’s final year in office, was a major economic shock. Trump's inconsistent response to the pandemic…downplaying its severity early on and failing to implement a comprehensive national strategy… worsened the public health crisis, deepened economic instability, and ultimately exacerbated unemployment and poverty.

The lack of effective federal leadership during this time had far-reaching consequences on both the economy and public trust in the government.

Inflammatory Rhetoric and Policy Uncertainty:

The divisive rhetoric used by Trump, alongside his unpredictable policymaking, created instability in both domestic and international markets.

His inconsistent policies…particularly regarding climate change…immigration…and regulation…made it difficult for businesses to plan long-term, while his antagonistic stance toward global allies undermined international confidence in U.S. leadership. This unpredictability is often seen as detrimental to maintaining a stable, functioning economy.

Undermining Democracy: The Shift Toward Autocracy

When it comes to the importance of democratic principles, Trump’s actions and rhetoric pushed toward the erosion of democratic norms and the consolidation of power in the executive branch…thus potentially leading to an autocratic form of government.

Some key aspects of this argument include:

Attacks on the Electoral Process:

One of the most stark examples of Trump’s undermining of democratic norms was his attempt to overturn the results of the 2020 election.

He pushed false claims of election fraud…pressured officials in multiple states to overturn results…and incited the January 6th Capitol insurrection. These actions were a direct attack on the constitutional processes that ensure free and fair elections.

The idea of questioning and undermining the integrity of elections itself can destabilize democratic systems, making it easier for authoritarian movements to gain ground.

His refusal to concede the election and his actions to delegitimize the vote reflected a desire to upend democratic institutions in favor of securing power by any means necessary.

Centralization of Power:

Throughout his first term, Trump frequently used his office to undermine independent institutions and create a more centralized, unchecked form of governance.

This includes his disdain for checks and balances…evident in his attempts to limit congressional power…his frequent dismissal of judicial rulings…and his open contempt for investigations into his actions.

His appointments of loyalists to key government positions, as well as the firing of officials who didn’t comply with his wishes…were…and continue to be an effort to create an environment where dissent within the government was minimized and where power could be concentrated in the hands of the executive branch.

Weakening Civil Liberties and Press Freedom:

Trump’s repeated attacks on the free press and his tendency to disparage protestors and critics have raised alarms about the future of civil liberties in America.

The term "enemy of the people," which he directed at journalists, signals an autocratic impulse to silence those who question or challenge the authority of the leader.

Autocracies often begin by suppressing freedom of expression, and this rhetoric from Trump made many nervous about the future of a free press under his leadership.

Legitimizing Extremism and Violence:

Trump’s rhetoric emboldened far-right groups and extremist ideologies, which undermines democratic institutions.

His refusal to unequivocally denounce white supremacy during critical moments, and his incitement of violence (e.g., on January 6th), signaled a willingness to embrace undemocratic and violent means to achieve political ends.

The Bigger Picture: Autocracy or Just Self-Interest?

Whether or not Trump is consciously trying to destroy the economy or the democratic fabric of the country to level it for an autocratic regime is hard to definitively prove, even when we can see that’s what is happening.

If that sounds conflicting, okay…I agree. It does. Yet, at the same time, I think you know exactly what I mean.

Yes, I recently became aware there is reportedly a video/audio of him claiming that he is crashing the economy intentionally, although I have not seen it yet, if in fact it exists.

However, let’s assume it does, and that is what we see/hear him saying. Can we take that as the truth? No, not really.

In the past, when things have taken a turn for the worse, he has claimed that is what he wanted it to do. When he does this, it’s to protect his fragile ego and try to make his failure look like some intentional “master plan.”

Then, there are other times when he has just rattled something that made no sense because he had no idea what he was talking about. So, just because Donald says something doesn’t necessarily mean we can take it as something serious we can rely upon.

In short, what Donald says is worth about as much as one of his “Trump Coins.” If you follow the markets at all and keep an eye on his Trump “crypto,” you’ll know it isn’t worth jack-shit.

It could also be argued that some of his actions are driven more by personal ambition and the desire to remain in power rather than a strategic attempt to dismantle democracy or the economy entirely.

His behavior often appears to be purely self-serving...as he has shown a clear desire to maintain political control...willingly disregarding the potential consequences of his actions.

However, there’s a fine line between political self-interest and actions that weaken democratic institutions. Whether he wants to weaken democracy or simply act out of self-preservation, the consequences of his actions have already had significant ramifications on the political landscape.

There is a lot to unpack with Donald Trump’s behavior. His complexity is better described as "massive internal chaos," which he likely hasn't controlled for decades.

Whether his actions are intentional, motivated by ambition, or focused on self-preservation…the consequences in the short term...and very likely the long-term consequences as well…for low-income and middle-class Americans are going to hurt.

In that sense, it doesn’t make a good Goddamn why he’s doing it.

I knew when I started this newsletter 1 ½ years ago that this country was headed for rough waters. I knew that would be the case whether Trump was reelected or not. MAGA had become a force to be reckoned with and wouldn’t suddenly vanish just because Donald didn’t win.

I expected Bannon, MTG, and a corrupt Congress, along with other influential figures to still be playing their roles. I knew there wouldn’t be a hope in hell of a GOP/MAGA turn on Trump until and unless they felt a massive amount of Trump-induced pain...that put the squeeze on them...and their loved ones, and in a way that hurt like hell.

That time has arrived. Understandably, we’re feeling it as well. However, if this is what it takes for a massive shift to occur in the right direction, I’m ready to feel the pain...because the alternative is so much uglier. It would mean the end of all we have come to love.

That’s why I started the newsletter. I knew keeping our shit together, mentally, emotionally, spiritually, and physically...would be an absolute must. If we failed here, we’d fail everywhere. It's my area of expertise. The choice was clear. I’m glad you're part of The Jack Hopkins Now Newsletter ride. Sanity… is a useful thing :)

If you are a Paid Subscriber, be watching for this month’s Jack Hopkins LIVE Q&A announcement. I’ll send out the date and time in a day or two.

Rather than follow up with a Part II on this focus on Trump’s first term and how it applies to what is happening now, I will urge you to keep reading my periodic Trump Report postings, which go out to all subscribers. That will keep you up to date on the latest happenings in Trump's world and allow you to make your own determinations about his second term.

Okay…that’s it for the weekend. Be well!

Best,

Jack