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An Open Letter To President-elect Trump. Watch Free Video

An open letter – and video – to President-elect Trump outlining how to make America’s economy great again.

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Dear Mr. President,

You can make America’s economy great again. Here’s how:

INVEST, Mr. President – not only in infrastructure but also in the industries and technologies of the future.

You have been elected President at a unique moment in history that gives the government of the United States the ability to borrow and invest in the US economy on a scale not only large enough to rebuild America’s infrastructure, but large enough to also induce a new technological revolution that would restructure the entire economy and make it great again – greater than ever!

If you grasp this opportunity, the United States will have unassailable supremacy in the industries of the future; you will lock in another American Century; and you will improve the well being of every American – and the well being of every person on this planet.

However, you are also becoming President at a time when the global economy is in real danger of collapsing into a depression, one from which it might not recover for decades. One misstep on your part and instead of making the economy great again, you will make the Great Depression again.

Here’s what you need to know – and to act on – to succeed.

The global economy is an enormous economic bubble that has been inflated by Credit. If the Credit contracts, the bubble will pop and the New Great Depression will begin. If interest rates go up significantly, the bubble will pop and the New Great Depression will begin. It won’t be a short and sharp depression like 1921. It will be long and devastating like 1929 to 1945. That’s the bad news.

Here’s the good news. You are absolutely right to call for government investment in infrastructure. Don’t stop there. During your administration, the government can borrow and invest trillions of dollars in the US economy without causing inflation. The combination of Globalization and Fiat Money makes this possible.

You not only have the opportunity to rebuild American infrastructure so that it is second to none as you promised to do in your victory speech. You also have the opportunity to invest in 21st century industries and technologies on a scale that is too big to fail, thereby guaranteeing that the United States remains the most prosperous and powerful country in the world for many decades to come.

In the past, the government could not run large budget deficits without causing high rates of destabilizing inflation. Today, the United States government can borrow and invest many trillions of dollars at little to no cost – and do so without causing inflation.

The attached video explains why. It also describes the kind of government investment that is required to pull the United States and the world out of this economic crisis – and the extraordinary benefits that such investments would produce.

Very large-scale government investment in the industries and technologies of the future will lift America’s poor out of poverty. It will save the middle class. And it will make the most prosperous segments of our society wealthy – and healthy – beyond their wildest dreams.

Watch this video now – and make America’s economy great again.

Most respectfully,

Richard Duncan

Economist and Author

-ends-

 

Note: the video accompanying this Open letter is available for posting on websites free of copyright.

2 comments

  1. Excellent summary on the risk and opportunities of the US and world economy, Richard. I’ll try to get some of my fellow World Bank economists interested in it.

    Where do I find the charts and presentation to download?

    Cheers

    Charles


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