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Dad just tossed me this...

https://mises.org/wire/austrian-economics-no-longer-unheard-music

From the article...

“The dismal science is in trouble, and it deserves to be in
trouble. Economic axioms cannot be flouted without
consequences—which means the central insights of the
Austrian school will prove correct over the coming decades.

Political money will unravel; commodity money will
reassert itself. Central bankers will force depositors into
the bizarro-world of negative interest rates, destroying
capital and dramatically hurting savers. Central bankers
similarly will do everything they can to avoid a stock
market crash. They will once again buy assets and prop up
equities, while telling us their fiat currencies are
healthy—even as they quietly buy more gold than they have in
decades.

Governments, businesses, investors, and individuals will
respond to loose monetary policy rationally, by borrowing
and spending instead of saving and investing. M&A, stock
buybacks, and other forms of financial engineering will
attempt to extract tiny amounts of value from moribund
companies and industries.

Federal Reserve officials will disavow outright
monetization of government spending (i.e. Modern Monetary
Theory), even as they partially practice it with an
increasingly debt-financed federal budget. All of this new
money and credit will not be neutral, but will primarily
benefit political and economic elites.

This monetary alchemy (h/t Nomi Prins) will not work.
Consumption will not magically substitute for production.
Demand-side stimulus, whether fiscal or monetary, will
produce only ersatz and short-lived economic growth.
Underlying incentives will continue to matter.

Political movements in the US toward greater degrees of
socialism and bigger entitlements (e.g. single payer
government health care) will encourage the gross
misallocation of resources, just as Austrians warn.

Bureaucrats, far more powerful than presidents or
Congress, will steer the economy based on political
expediency and without regard to market signals.

“Capitalism” will be blamed for any economic crises,
whether in jobs, housing, energy, stocks, or consumer
prices.

Positivist economists will explain everything after the
fact, with no acknowledgement of their their own complicity
and lack of foresight.

Nobody wants, or hopes for, a severe economic contraction.
Nobody wants to see people suffer from bad political and
economic policies. But debt and entitlements are
unsustainable. The Fed’s swollen balance sheet is
unsustainable. Moving toward socialism is unsustainable.
Austrians will be vindicated, but will they be heard?”

~Easy

Sorry, but this article about "Austrian economics" is so dusty it makes me sneeze.

Here are some modern, Trumpian concepts:

1) The "Free Trade" dogma is dead. It was good for Americans on a temporary basis, when we had all the factories ... but caused our factories to be shipped overseas ... BAD.

2) There is no economy without national heavy industries and high-tech industries, because it will eventually become impossible to mount a national defense. CHINA recently demonstrated this concept by threatening to cut our U.S. supplies of "Rare Earth" materials used in semiconductors, batteries and other sophisticated electronics including defense.

3) Now HERE is where FED POLICY comes in: A super-powerful U.S. dollar, the underlying reserve currency of the world, was great if all we intended to do was to buy stuff from other countries. But if we intend to have our own manufacturing and industrial economy, this no longer works. TO WIT: IF WE STOP RUNNING TRADE DEFICITS, and become NET EXPORTERS OF GOODS AND ENERGY, then THE WHOLE CONVEYOR BELT OF US DOLLARS which currently defines international finance BECOMES A THING OF THE PAST.

4) Hence, PRESIDENT TRUMP, in order to SAVE AMERICA, is monkeying around with the WORLD ECONOMIC SYSTEM AT ITS CORE.

5) There are so many factors that go with this! For example, the U.S. MILITARY is once again designed to PROTECT AMERICA AND AMERICAN interests---and not the global financial order.

6) Obviously, President Trump is taking a wrecking ball to international institutions (such as U.N., WTO, World Bank, IMF, Paris Accord, TPP, etc.) that were intended to be used to dismantle America. I expect this process to accelerate in the remaining 5.5 years.

7) President Trump is not interested in whether it is more efficient in some ABSTRACT WAY to make widgets in China. HE SEES THE ABSURDITY IN SAYING IT IS BETTER FOR AMERICANS TO LOSE THEIR JOBS, and SOMEDAY LOSE THEIR COUNTRY.

8) Oddly enough, Bite-me is CORRECT when he says President Trump is an existential threat to their way of life.

HE IS CHANGING THE VERY CORE OF THE WORLD'S FINANCIAL/ECONOMIC SYSTEM.

PS: Don't worry about "Fiat currencies." They are here to stay. Worry about whether the U.S. currency is in the service of our national sovereignty, which is exactly what POTUS is trying to accomplish by changing certain habits and behaviors of the FED. Eventually, if we WIN this cultural Civil War, the American public will be ready to take any necessary action with regard to control of the money supply.