Dave Stockman released his latest book “Trumped! A Nation on Brink of a Ruin” on Monday.
I read an advance copy last weekend.
I could not put the book down. It’s the book I wish I had written if only I had time.
Chapter 1 starts off with Stockman’s take on the revolt of Flyover America kindled by the Trump campaign. He mildly praises Trump with a bit of damnation thrown in, pretty much my position given the alternatives.
“Trumped!” is not really about Donald Trump, the man. Rather it’s about broken contracts and the conditions that led to the rise of Trump in the US, Brexit in the UK, and deteriorating economic conditions globally.
Politically speaking the book is anything but one-sided. Stockman goes after “feckless John Boehner” and his “equally spineless” replacement, Congressman Paul Ryan.
Stockman takes on the Fed and the ECB. The “Fed doesn’t serve the Main Street economy: It lives to pleasure Wall Street,” says Stockman, quite accurately.
In regards to Europe, Stockman states the “EU-18” owes Germany so much that permitting any country to leave is unthinkable in Berlin. The call for ‘more Europe,’ it is a desperate gambit to keep alive an utterly flawed and contradiction-ridden monetary, fiscal and political union that never should have been concocted in the first place.”
Stockman is a former Congressman and Ronald Reagan’s budget director.
In regards to defense spending, Stockman says “The one thing that I learned during my time on both ends of Pennsylvania Avenue is that the defense budget, and the military-industrial complex that perpetuates it, is the mother’s milk of fiscal irresponsibility.”
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