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President Trump, You Can Make America’s Economy Great Again. Here’s How

Posted November 15, 2016

I have just uploaded a Macro Watch video in the form of a presentation to President-elect Trump.  

This is the most important video I have ever made.

Here’s how it begins:

 

President Trump,

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 have also been elected at a time when the global economy is in grave danger of collapsing into a depression, one from which it might not recover for decades – if ever. 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. One wrong move on your part and the economy will spiral out of control into a depression. 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.

In this presentation, I’ll explain why. I’ll also describe 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.

 

Macro Watch subscribers can login and watch How To Make America’s Economy Great Again now.

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http://www.richardduncaneconomics.com/product/macro-watch/

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6 comments

  1. I agree with you until the part of globalization.
    Tariffs and trade wars will finally put the last nail on the coffin of china bubble economy. They will start to default and go through what the US went on 2008 and cause a shock wave around the world. Even if the US could then produce and sell new technologies who wil be the US of China? Where is the demand in a global recession

    The US under a protecionist policy will likley cause inflation and limited borrowing capacity because I dont think the FED will approach higher inflation other than raising rates, the 8 years of global QE and reach for yield era will go into unwind in less than a year, with hard to imaginable defaults or severe japanifications of nations.

    But i do think trump has a time-window he could work out until protecionism and higher inflation finally kicks-in and goverment investment on new world technologies starts to show effects. The two will hit at unsychronized times which will be good.

  3. US must invest in R&D of new technologies. We the people must identify, encourage, involve and mobilise the best and the brightest among us, those who shine in training and education, those with extraordinary resources of skill and character, those most capable to put their know how, their minds and hearts together to elevate existing technologies to new levels and develop new technologies out of which a new industries would evolve. It is the Know How, Technological and Industrial Advantage that must be reestablished. The rest of us plebs and deplorables must be made less dependent and more shovel ready. Irrational exuberance and irresponsible wastefull behaviour must be reined in and sanctioned. There is no shortage of money but there is a shortage of responsible people, work order and discipline. FED can establish and vary the rates and the value of US$ to any degree, Monetary and fiscal policy can can controll value of work and inflation to a fine detail, providing we the plebs control the moral hazard. Domestic policy – strict adherence to the rule of law. Foregn policy – remember that friends come and go and enemies stay forever.

  4. Since you don’t advocate helicopter money being used for college loans. How do we avoid inflation creating high technology jobs that provide employment for disgruntled former factory workers (since the implications are that we are continuing to rely on cheap foreign labor to combat inflation – perhaps either manufacturing the new technology abroad, or automating manufacturing here) and if we neither educate nor employ said workers how do we avoid the continued political backlash we are seeing today? Such backlash is exactly why we are seeing the desire for tariffs and immigration reform that is likely to lead to global economic meltdown. Political solutions to economic crises have historically seemingly lacked understanding of nuances in financial systems. Can we hope for more in this case? I hope this administration has a deep understanding of how exactly the global system of finance actually functions. I would like to believe that they are harvesting information from the brilliant minds of differing opinions on this topic. Dicey road ahead and I will do what I can to spread information about this.

    1. I do believe the government should provide very, very large grants to universities to advance research in 21st Century technologies. I also believe that the government should provide grants and scholarships to university students so that they can become the world’s leaders in these fields. The United States must educate the next generation so they can be employed in the industries of the future. Investing in education (and not only at the university level) is a key part of the kind of INVESTMENT that is needed to restructure the US economy. I wrote about this in my last two books, The Corruption Of Capitalism and The New Depression.

  5. DEAR MR. DUNCAN
    EVEN BEFORE YOU MADE YOUR LATEST VIDEO, WHICH I HAVE NOT SEEN YET, I WAS THINKING ABOUT SENDING A LETTER TO PRESIDENT ELECT TRUMP, OR HIS STAFF, CONGRATULATING THEM FOR THEIR ELECTORAL VICTORY, AND TO ASK THEM TO PLEASE CONSIDER LOOKING INTO YOUR WORK REGARDING HUGE INVESTING IN INFRASTRUCTURE AND NEW TECHNOLOGIES, WITHOUT BORROWING OR RAISING TAXES, WHICH WOULD BE GREATLY BENEFICIAL TO THE US ECONOMY. I AM CONVINCED THAT YOUR IDEAS WOULD WORK AND WOULD HELP MR. TRUMP MAKE AMERICA GREAT AGAIN. IF THE FED CAN PRINT TRILLIONS FOR ITS TOO BIG TO FAIL FRIENDS, WHY CANT MR. TRUMPS GOVERNMENT PRINT A TRILLION DOLLARS FOR THE AMERICAN PEOPLE WHO ELECTED HIM? I THINK THAT IT IS ABOUT TIME THE US GOVERNMENT TO RECLAIM ITS SOVEREIGN, AND I SHOULD ADD CONSTITUTIONAL RIGHT TO ISSUE MONEY FOR THE NEEDS OF ITS OWN PEOPLE FIRST, AND NOT ONLY FOR THE 1PER CENT. I SINCERELY BELIEVE THAT YOU ARE THE RIGHT MAN FOR THE JOB. YOUR PLANS WOULD NO DOUBT WORK WONDERS FOR THE US ECONOMY, I JUST DO NOT KNOW HOW TO CONTACT HIS TRANSITION TEAM. RESPECTFULLY
    JAIME

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