This is a syndicated repost published with the permission of David Stockman's Contra Corner » Stockman’s Corner. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
My new book has been published and will be officially released next Tuesday. However, preorders for the e-Book version are now available on Amazon and can be obtained by clicking this link:
Trumped! A Nation On The Brink Of Ruin… And How To Bring It Back
As I previously indicated, the book is an exploration of how 30 years of Bubble Finance policies at the Fed, feckless interventions abroad and mushrooming Big government and debt at home have brought America to its current ruinous condition.
In this context, it delves into the good and bad of the Trump campaign and platform, while, to use a spoiler alert, praising it with faint damn!
As Contra Corner readers recognize the only consistent way forward for America at this late stage of the game is a return to free markets, fiscal rectitude, sound money, constitutional liberty, non-intervention abroad, minimalist government at home and decentralized political rule.
Unfortunately, that is not about to happen any time soon—–even if by some miracle Donald Trump is elected President.
But what the book does claim is that the tide is turning against the failed Wall Street/Washington bipartisan consensus. I call this insurrection the “revolt of the rubes” in Flyover America.
This uprising against the rule of the financial and political elites has counterparts abroad among those who voted for Brexit in the UK, against Merkel in the recent German elections in her home state, and among the growing tide of anti-Brussels sentiment reflected in polls throughout the EC.
Needless to say, the political upheaval now underway is largely an inchoate reaction to the policy failures and arrogant pretensions of the establishment rulers. Like Donald Trump himself, it does not reflect a coherent programmatic alternative.
But my contention is that liberation from our current ruinous policy regime has to start somewhere—and that’s why the Trump candidacy is so important. He represents a raw insurgency of attack, derision, impertinence and repudiation.
If that leads to throwing out the beltway careerists, pettifoggers, hypocrites, ideologues, racketeers, power seekers and snobs who have brought about the current ruin then at least the decks will be cleared.
So doing, the Trump candidacy—win or lose—is paving the way for an honest debate about the Fed’s war on savers and wage earners, the phony Bubble Finance prosperity it has bestowed on the bicoastal elites and Imperial Washington’s delusionary addiction to debt, war and special interest racketeering.
Here is a brief blurb from the Amazon page on the book:
In TRUMPED! A Nation on the Brink of Ruin… And How to Bring It Back, David Stockman brings us an insider-turned-iconoclast’s report on how 30 years of financial and political misrule by the Washington/Wall Street elites have brought the U.S. to the brink of ruin.
He shows that the Fed’s destructive ZIRP and QE policies have buried Flyover America in debt while clobbering it with shrinking real wages and vanishing job opportunities. At the same time, the bicoastal elites have prospered mightily from the massive inflation of financial assets in the Wall Street casino and the debt-fueled expansion of Imperial Washington’s domestic rackets and global interventions.
Stockman argues that Donald Trump’s improbable candidacy happened because Flyover America has had enough of a rigged system that benefits the few but has failed to delivery economic recovery and real prosperity at home and a safer and more stable world abroad.
Stockman’s book is no testimonial on behalf of Trump’s candidacy, and contends that much of what he advocates is wrong-headed or downright reprehensible. But it does salute him as the rallying force for Main Street political insurrection because the existing regime of Bubble Finance on Wall Street and statist aggrandizement in Washington threatens incalculable harm.
Stockman also argues that there remains a way forward. He suggests the “political outlaw” who considers himself to be the world’s greatest dealmaker would need to “make ten great deals” to bring American back from the brink. These include a Peace Deal, a Jobs Deal, a Sound Money Deal, a Super Glass-Steagall Deal, A Liberty Deal and five more.
In this trenchant, wide-ranging and unvarnished account, Stockman draws on his unique 40-year career in Washington and Wall Street. After a career as a Capitol Hill staffer, two-term member of Congress and ultimately as President Ronald Reagan’s budget director, Stockman then went to Wall Street. For two decades as an investment banker and private equity investor he had a front row seat as the nation’s financial markets mutated into today’s Bubble Finance casinos.
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