Is Trump Following George W. Bush and Moving America towards Another Housing Crisis?

Capitalism

We all remember that George W. Bush’ failed fiscal policies led us into a near depression. His ‘trickle-down economics,’ which gave huge tax breaks to the wealthy failed to produce a reduction in unemployment. The one-percent dumped tens of millions into offshore accounts.

We were engaged in two unwinnable wars which cost us an unknown amount of capital because they were never included in the annual budget.

Possibly the worst action was deregulating Wall Street and large corporations. The major banking institutions took advantage of the opportunity to offer housing loans to families who were unqualified, but fallaciously told that they had no worries. Eventually foreclosures began by the thousands.

Steve Mnuchin is Trump’s nominee for Secretary of the Treasury. He foreclosed on thousands of home loans, profiting billions of dollars as the American people suffered. He also failed to report $100 million in assets to the Senate Finance Committee pursuant to his nomination.

Trump does two things, and two things only; he tweets, and he signs executive orders; (he loves his signature).

Today he signed a decree that permits big business to take actions which would benefit them by billions of dollars, while once again causing harm to the majority.

“Unless prohibited by law, whenever an executive department or agency (agency) publicly proposes for notice and comment or otherwise promulgates a new regulation, it shall identify at least two existing regulations to be repealed.”

The plutocracy is becoming a reality. With a hypocritical and submissive Republican controlled congress, our nation will be ruled by the wealthy, and the majority will exist to serve them. A plutocracy cannot exist without fascist rule, and I have already proven that Trump’s actions have begun to take control of our nation and permanently destroy democracy.

However; fiscal and governmental experts believe that the end result will be far less egregious than it appears. The Congressional Review Act will likely prevent many rollbacks of these restrictions. As with most of Trump’s executive orders, it is primarily an act to appease Trump’s supporters.

Trump is the world’s greatest con-man.

Op-Ed

By James Turnage

Source

Follow me on twitter; @jamesturnagenov

My fifth novel, “Four More Years,” is available on Amazon

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