Hi pints
IMO one presidential term will not turn around the US Government's economic
predicament because the economic rot has been happening since the Regan Regime
when Neo-Liberalism gripped the US Administration putting the economic elite in charge
(free market economics) This fundamentally gutted US manufacturing by giving licence
to US manufacturers to shift production offshore & import consumer products.
Trump simply brushed the surface of the US rot by focusing on the US/China Trade Deficit
and throwing tax breaks to corporations who simply pocketed the loot but did not repatriate
their businesses let alone the profits.
So the story of America at present is that the Billionaires are doing well due to Multinationalism
and offshoring profits in Tax Havens while the US economy is goung down the gurgle
(US still running massive Trade Deficits & Budget Deficits with about 45 million in poverty) .
https://thenewdaily.com.au/entertainment/celebrity/2022/01/02/must-tops-worlds-wealthiest/?utm_source=Adestra&utm_medium=email&utm_campaign=Morning%20News%20-%2020220103(I'm alright Uncle Sam)
In a society where the individual is Supreme , media & the electorate focus on individuals such as Musk, Bezos
etc as evidence that the economy is going well# & on a President & Vice-President as the causes of Governmental
woes when in fact the US Economic Woes are systemic which calls for economic reconstruction , not Govenrment
corporate Welfare , if the USA wants to compete favourably in the Global economy.
At present the financialisation of the US Economy wont do the trick, but merely kick the needed development can
down the road, IMO.
In a nutshell, The USA needs to re-invent Capitalism to survive, IMO.
# Trickle Down wet dreaming!!
