E Posen And Cramer On Trade Wars And Cold Wars

Esteemed economist, Adam Posen, speaks out on trade wars and tariffs. This is one of his most important statements regarding the New World Order:

At the heart of that order, it put the liberal values of free trade and the rule of law. Over the next seven decades, the order, backed by U.S. power and bolstered by its growing legitimacy among other countries, prevented most economic disputes from escalating into mutually destructive trade wars, let alone military conflict. That allowed even the smallest and poorest countries to develop their social and economic potential without having to worry about predation by stronger neighbors. By taking much of the fear out of the global economy, the U.S.-led order allowed market decisions to be driven by business, not bullying. 

The order is far from perfect and has applied clear and hurtful abuses to the masses, and Posen points out many abuses. But the alternative to US guidance likely will prove the be much worse.

Dr. Posen is the president of the Peterson Institute for International Economics. He is a member of the Trilateral Commission, and the CFR. He is an insider. That makes some people uncomfortable. This is likely because many have observed that there is a fine line between free trade and abuse of empire.

The US set up a system whereby free trade would thrive and nations would improve economically all over the globe. The theory behind that is that the more affluent the consumer, the more they will buy from our corporations.

But the system was seriously abused at times. Three major abuses can be singled out:

  • American workers have been abused by jobs moving offshore without adequate compensation by the US government.
  • And American consumers have been abused by liar loans and by financial products imported from globalist banking. The Federal Reserve Bank did not bail out the borrowers but rather bailed out the sources of the toxic loans! This has not been pleasantly received by the American public. All that abuse, corporate abuse of consumers included, must be acknowledged and owned. But it still is not fully owned.
  • Nations claiming democracy have had their leaders murdered, sometimes at the hands of US forces. Latin America is a poster child for this past US behavior.

But Posen makes the case for free trade versus the ideas of tariff wars espoused increasingly by Donald Trump, and some of both political parties. Tariff wars are meant, in the long run, to either beat down a perceived adversary, or to set up something other than globalization.

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Disclosure: I have no financial interest in any companies or industries mentioned. I am not an investment counselor nor am I an attorney so my views are not to be considered investment ...

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Thorgood 2 years ago Member's comment

Trump has taken credit for the strength of the US economy and the stock market bull.You think he's stupid enough or delusional to set himself on fire with a cold war? Please stop fear mongering. My "bullsheet" alarm went off the minute you compared Trump to Hitler. My fourth grade teacher used to make us raise our right hand in class to ask a question..is she suspected too?

Gary Anderson 2 years ago Author's comment

Carol, I have been thinking of a response to you for awhile now. I didn't want to just react. I have written a lot on Talkmarkets about the New Normal. The New Normal has serious flaws. For one, the economy cannot become red hot. Bonds are the new gold, meaning that yields cannot explode or much of the economy would likely be in peril. Those bonds are used as collateral for derivatives. It would be nice to find a more benign substitute for the long bonds as collateral.

However, it is clear that Trump and his economic advisers want to take out the new normal. They have declared that is a stated goal. www.talkmarkets.com/.../trumponomics-increase-exports-slow-imports-bludgeon-the-new-normal

Now, consider, Carol, the way to break the New Normal is to export more, import less, let the economy grow white hot. Interesting that he doesn't want immigrants because we are running out of workers, but that is for another discussion. And what happens if the New Normal is broken? The goal is for rates on bonds to soar as people flood to the stock market and leave bonds, like in the old days. But it isn't the old days anymore, Carol.

If you take breaking the New Normal, bonds soaring on yields (which may not happen if people are suddenly afraid of stocks), and cutting imports from China, who will buy our bonds? Trump really doesn't care and taken to its farthest extension, he would not want to pay our bondholders (creditors), and may be perfectly fine with ruining the credit of the United States. He has stated this goal in so many words: www.talkmarkets.com/.../trumps-punishment-of-china-the-start-of-a-radical-rejection-of-foreign-capital

This experiment, Carol, is off the charts in terms of risk. He has no idea of the outcome and it can't be good. It would, in my opinion, put our nation on a war footing, although it will be with a trade war anyway. And this new economy could be fraught with danger. People don't take the time to see the whole picture of Trump's goals, of Wilbur Ross' goals. Maybe this last goal of paying creditors like China less money is just a dream. But, you have to take Trump seriously. He doesn't forget. He operates with abandon, he has a chip on his shoulder, and he wants the US to dominate the entire world. He wants to instill fear through the entire world.

This is a radical and dangerous regime, potentially, with a few extras for the base, who can't probably grasp most of this anyway. But they do grasp the America First, and the hatred of all things foreign. And that keeps them in Trump's camp as he attempts to lead the United States down the path of destruction. Again, I am waiting for Donald Trump to prove this all wrong. But the problem is he and his team keep proving that it is likely the correct analysis of his radical regime.

Thorgood 2 years ago Member's comment

Dude, you send me a link that's two years old to back your opinion. Trump has backed off a good bit of that ancient history so I won't address the nuts and bolts of the New Normal. You bring up some disturbing thoughts but all of it has yet to play out. Chill til we know more Isay. Trump is was and always will be a businessman first. A statesman second. I dismiss 80% of what he says as PT Barnum bloviation. You just can't take the actor side of him seriously. I think he does it to grab the media's attention while other more important policies are being crafted in the war room. He really doesn't have as many options as you give him. He can't singlehandedly lead our country on the road of ruin. Get a grip. He's not dumb and I doubt he is going to set himself on fire with a strategy that will allow him to lose an election.

We all know Trump has a massive ego and wants to win on all battlefronts. Punish China? Some might argue China has been punishing us far too long.

In the Art of the Deal Trump says in order to win, you need to humiliate your opponent. Maybe he's just huffing and puffing a lot buying some time poking China in the eye every so often. China is doing the same. They'll wait til after the midterms to see if the results bend in Trump's favor. So you basically have a stalemate. The crouching tiger is far more patient than Mr Ready Fire Aim. It's a battle of the titans. The Art of War (thousands of years of history) versus the Art of the Deal (in the recycle bin at Amazon) Place your bets, kiddies. It should be more entertaining than anything on Netflix right now. Cheers Carol

Gary Anderson 2 years ago Author's comment

I reported on policy. That breaking New Normal policy is still in place. Asia is the biggest market for business in the world. China is nowhere near as interventionist as the USA is. We are all over the world, troops everywhere. So, Asia has 4.5 billion customers. We are penny wise and pound foolish if we pursue a trade war against China, India, etc. Your idea of adversaries and a cavalier attitude is Trump-like. But it is wrong, and makes no sense for world prosperity. You think it is a game. Trump thinks it is a reality show. All I can say is get real, Carol.

Frank Underwood 2 years ago Member's comment

I always knew that the Statue of Liberty with her upraised arm was secretly a Nazi supporter!

Gary Anderson 1 year ago Author's comment

This article is still relevant, Frank, as Trump now is escalating a trade war with Mexico. He has repulsed China. His fascism is showing, Frank. His economic isolationism is far more dangerous than political isolationism.

Danielle Rogers 2 years ago Member's comment

Don't forget the makers of Sure deodorant! :-)

https://www.youtube.com/watch?v=4y4LGzUENaA

Joe Black 2 years ago Member's comment

Yes Carol, while I found the article through provoking, that part was a weak analogy at best. Raising one's hand does not mean Trump was trying to get people to show a nazi salute or shout "Heil Trump!"

Old Time Investor 2 years ago Member's comment

Don't dismiss the entire article because of one poorly placed analogy. The improper comparison to Hitler aside, this is a good, nay, an important article, that is worth a serious read.

Gary Anderson 2 years ago Author's comment

It cannot be proved that Trump was referring to Nazi behavior, but it was not the first time he has done this. Last time it was a forward raise of the hand and it was explained away. But it looked just like a Nazi salute. If it jumps like a frog, it could be a frog.

I said students of history would be concerned about Trump getting his base to raise their hands. They could get used to doing it!

Michele Grant 2 years ago Member's comment

A part of me wonders if Trump wanted people to think this.

You are right Gary that this isn't the first time he's asked for a raised hand, and it does look eerily like a nazi salute. Trump must have known that at least his detractors would seize upon this. Maybe he thinks they look worse than him when they accuse him of nazi behavior. Otherwise, why not just ask them to take a pledge by placing their hands over their hearts, like we do when we pledge allegiance to the flag. No one could have taken issue with that.

Angry Old Lady 2 years ago Member's comment

Lol, "bullsheet" alarm. Love it!

Ayelet Wolf 2 years ago Member's comment

As a Jewish woman, I am particularly sensitive to the increasingly common comparison of Trump to Hitler. Whether you like Trump or not, there is no equivalence between Hitler who orchestrated the extermination of 11 million people (including 6 million Jews), and Trump whom, to my knowledge hasn't murdered anyone.

That being said, I do think it is important to remember that Hitler was democratically elected. He rose to power by praying on people's fears, scapegoating minorities, and twisting the truth by continuously repeating lies over and over again through a crafty PR campaign. That is the same playbook as Trump and does bring chills to my spine.

Gary Anderson 2 years ago Author's comment

Well, I have Jewish DNA cousins. But I don't have your experience, Ayelet. However, Donald Trump ignored Puerto Rico and people died. That is murder in my book. As far as being compared to Hitler, I do not at this point. But I am quite certain that he adores Hitler, Kim, and other strong leaders. He fancies himself as a Hitler. He longs for that power.

Angry Old Lady 2 years ago Member's comment

I hope you didn't use the same DNA test that Elizabeth Warren did! :-)

Cynthia Decker 2 years ago Member's comment

I wouldn't go so far as to say Trump adores Hitler. But I would agree that he admires Putin and Kim. He definitely values strong leadership and probably is very frustrated about being hampered by the media, and democrats (and even some republicans). Being a CEO and filthy rich, rather than a career politician, it's likely not something he's used to. I'd be surprised if many people said no to him his entire life. I don't say this to disparage him, his background gives him various advantagous as well - not being PC certainly gave him a huge boost in the election. But this one aspect is certainly a point of frustration for him.

Gary Anderson 2 years ago Author's comment

Cynthia, think about it. What you are saying is that he values ruthless and merciless leadership. His frustrations are irrelevant. He likes people who do bad things. Now, as you go on to say, he is like a child who never gets a no thrown at him. Does that mean he is less than what he could be, just a wanna be and not headed toward a diabolical end? I certainly hope so. I would love to be proven wrong. I would want to be proven wrong. But it is clear to me that he wants to reshape world trade, stop much of our trade with China, and make the world a far more dangerous place. Only Trump can prove me wrong.

Thorgood 2 years ago Member's comment

youre as bad as the author. Hitler:democratically elected, etc,etc. Trump: democratically elected etc etc, therefore Trump must be another Hitler. Beyond stupid. Sophistry 101.

Ayelet Wolf 2 years ago Member's comment

Carol, on the contrary, I agreed with you that there can be no comparison. However, I agreed with Gary that some of Trump's words and actions do put a chill down my spine.

For example, Trump created a new government agency with one job - to publicize whenever an illegal immigrant commits a crime. What is the point of that? There can only be one - to try to turn public opinion against immigrants. Statically, immigrants are far LESS likely to commit a crime (I assume that's since they don't want to be deported).

I can not like certain actions of the Trump administration, and like others. I am not a Trump hater, nor a Trump lover. I don't condone or excuse everything he does. We can disagree with each other while still remaining respectful. In fact I have much respect for most of what you say.

Gary Anderson 2 years ago Author's comment

Of course he is. Wilbur Ross said there would be pain. Trump already was pictured raising his right hand in a more Hitler like salute. This is not the first time. If Donald Trump was serious about washing away fears of his love affair with Hitler, he would not have called himself a nationalist. He is already on video saying he has the right gene and German blood. Jim Cramer is not exactly a fear monger. If anything, we learned from Lehman that he can be late to the fear party. So for him to say that Trump wants a cold war with China, means he has given this a lot of thought. We will see if this is the right call when and if the 25 percent tariffs are applied to China after the first of the year. And Carol, I hope I am wrong. I would be happy to be wrong!

David Moore 2 years ago Member's comment

Gary

with all respect that is ridiculous.

Do not confuse a blatant unashamed love for this country ahead of any other, for Hitler!

When I arrived here in 2000 patriotism was openly encouraged but under the last apologetic administration it was demolished and became unfashionable even despicable.

The Germans were and are an incredible race,Hitler lived in the last stages of history where barbaric leaders set out to conquer the world militarily and they almost did,remember he came to power in a massive economic depression, one could refer to him as an incredible leader were it not for his awful treatment of Jews.

Being German is nothing to be ashamed of and neither is openly loving the USA.

He has openly embraced Putin and encouraged dialogue,he has defused the tension with North Korea and is simply correcting decades of trade imbalance with China.

Don't mix your dislike of our President with delusional perceptions of his connection to Hitler

Gary Anderson 2 years ago Author's comment

I have to take issue with you saying that Hitler would have been considered a great leader but for the Jews. I am dumbfounded by your statement. I hope you are just a troll and do not really mean that.

David Moore 2 years ago Member's comment

it is risky to look at some one who caused so much harm to so many objectively but if you study his achievements prior to the war it is very interesting.

He pulled Germany out of the depression,created the autobahns,the peoples car (the VW. beetle) was an aspiring architect and an engineering visionary.

Donald Kaplan 2 years ago Member's comment

Interesting thoughts... especially that Hitler was "an incredible leader were it not for his awful treatment of Jews." I too often wondered what the world might have been like had Hitler been a peace lover instead of a war monger and racist. Or even just "normal" in his views.

Gary Anderson 2 years ago Author's comment

Even if he had treated the Jewish citizens fairly, he lashed out at the world and was headed for war anyway. He wanted dominance. He was a nationalist on steroids. He never could have been for peace because he rejected peace. With Trump, another said he was not for war. But tariff wars can lead to war. Trade with China helped lift us out of the Great Recession. What if the next one is worse and China is crushed as well as the US, economically? Then what? Angry powers make war and we have dabbled in regional wars for decades. We are a war machine. And add to that machine trade wars and the danger magnifies. Trump is making the world a far more dangerous and divided place.

Thorgood 2 years ago Member's comment

Tariff wars can lead to wars you say? Crossing the street can get you run over, too. Please, this is getting ridiculous. All you are doing is fear mongering thru the lens of your extreme biases. As a journal writer, you need to check your emotions at the door. Perhaps fiction writing is more your style. So far that's most of what I seem to see here in your article with a few factoids thrown in for effect. You are a sophist's wet dream my dear.

Donald Kaplan 2 years ago Member's comment

Gary, Hitler was who he was, you are right. It's just something I've been curious about as an alternative history buff. It all comes down to if you believe in nurture vs. nature. Are people born evil or were they made that way. What might have been had Hitler not been quite who he was...?

But I digress. I don't think David Moore meant to minimize Hitler's heinous acts. But Hitler did have a knack for galvanizing the people and instilling in them a sense of pride (even superiority) and patriotism and was able to get them to embrace various ideals (not all of them good mind you). He was a strong leader. But don't get me wrong, he was an evil leader. Hitler was one of the worst people to have ever lived and we'd all be better off had he never existed.

Gary Anderson 2 years ago Author's comment

Being German is nothing to be ashamed of. I totally agree. But Trump called himself a nationalist. It is not my delusion. It is his action. Think about it, he loves Kim more than Trudeau. Think long and hard about that. He loves a brutal dictator more than a leader of a democracy that buys more from us than it sells to us. POTUS is a warped thinker by any reasonable standard.

Rebecca Duncan 2 years ago Member's comment

Gary Anderson, you have more patience than I. There will always be #Trump apologists who refuse to admit he can do no wrong. Even when Trump is on record as making an inappropriate comment, these people excuse it away or deny the statement was ever made. Save your breadth.

David Moore 2 years ago Member's comment

I think the word loves is in appropriate and however he achieved it is irrelevant the threat of NK has been reduced.

President Trudeau reversed his support for Mr Trump at the press conference G7 summit falling out of favor for sure.

Gary Anderson 2 years ago Author's comment

Inappropriate? David, Trump said he fell in love with Kim. I am not making this stuff up. It is all able to be documented. This is the actual quote by Trump regarding Kim: "I was really tough and so was he, and we were going back and forth. And then, we fell in love. OK? No, really. He wrote me beautiful letters, and they’re great letters. We fell in love."

Kate Monroe 2 years ago Member's comment

You can't be serious, Gary. I know Trump has said some pretty wild things, but "in love?"

Gary Anderson 2 years ago Author's comment

That is a direct quote. See the quotation marks? I am not making it up. In West Virginia he said he and Kim fell in love. Here is the video. I don't know what more I can do. Must not have run on Fox News? Here it is: www.reuters.com/.../trump-says-he-and-north-koreas-kim-fell

Kurt Benson 2 years ago Member's comment

Kate Monroe, Gary speaks the truth. I was just fact checking this myself. Here is a link to a Reuters article with that exact quote!

www.reuters.com/.../we-fell-in-love-trump-swoons-over-letters-from-north-koreas-kim-idUSKCN1MA03Q

Thorgood 2 years ago Member's comment

yeah, you should take everything Trump says literally. I would say it was a creative way of saying we found we had more in common than previously thought. He was being hyperbolic, people. This is getting ridiculous.

David Moore 2 years ago Member's comment

I totally agree Carol.People have absolutely lost their ability to be objective,

Gary Anderson 2 years ago Author's comment

Wall Street has been very patient with Donald Trump, going over backwards to give him the benefit of the doubt when I saw the handwriting on the wall quite awhile ago. Now they are doubting him in his anger towards the Fed, his trade war with China, his announcement that he is a nationalist. I knew he wanted havoc, to break the New Normal, to break bond prices, to break global prosperity and replace it with regional interaction. This effort to explode an intertwined world economy is Madness. There is no other term for it. It is time for Trump to be objective before he should be trusted, because he sure cannot be trusted as things stand, David.

Stock Picks 2 years ago Member's comment

How do you know what Trump was thinking when he said what he said? Seems like everyone on the planet knows what Trump's "true" intentions are with what he says and what he does.

Gary Anderson 2 years ago Author's comment

I am not sure who you are asking, Stock Picks. But I would say that Trump has a pattern. If you follow the statements, over time, a clear pattern emerges. He is, after these bombing letters were sent, telling the media to back off him. He is the likely motivation for the bombs being sent in the first place. He needs to back off. One went to the former head of the CIA. Trump really is out there, and so many people seem to be unable to see this obvious truth.

William K. 2 years ago Member's comment

The insights shared in this post are quite disturbing. worse because they appear to be correct. I do NOT like war at all. To all of those who say "War is hell" I say don't be sugar coating it! Mister Trump is certainly not acting the way I would approve of.

David Moore 2 years ago Member's comment

He has openly embraced Putin and encouraged dialogue,he has defused the tension with North Korea and is simply correcting decades of trade imbalance with China how on earth do you conclude he is trying to start a cold war?

David M. Goldstein 2 years ago Member's comment

David, I agree with your statements. But you have to admit, Trump does have a tenuous hold on the truth at best. And he likes to ignore inconvenient facts, like how Russia helped to get him elected by meddling in the campaign.

David Moore 2 years ago Member's comment

Heaven forbid all politicians had their history reviewed as much as Mr Trumps has been and Hillary was a diabolical alternative.

He is not perfect but who is? What matters is that the economy is on full steam,we are not at war and things are improving at break neck speed.

There is to date no evidence of Russian meddling and I guess you dont move much with the lower income population who were out of work and desperate for a change...

Thorgood 2 years ago Member's comment

Don't bother trying to logically argue your points with emotional hotheads like the author and those that agree with him. Waste of time.

Flat Broke 2 years ago Member's comment

Is the economy doing better? Last time I checked, the stock market was in free-fall!

David M. Goldstein 2 years ago Member's comment

David, no need to attack or insult me. I am agreeing with you. And I agree that Hillary was just as bad in her own ways. And I am thrilled the economy is doing well overall.

But you have to be in denial if can't admit that there is proof of Russian meddling. Our own intelligance agencies said as much As did journalists, even Facebook. I don't blame Trump for Russia's actions, and America has interfered in plenty of foreign elections themselves. This is the world we live in and it's not going to change. So people should just get used to it and learn to not take fake news at facevalue.

David Moore 2 years ago Member's comment

No insult intended David :)

Thorgood 2 years ago Member's comment

It's time we stopped giving props to Russia as some evil megaforce that can take our country down. Please. Who the hell cares about Russia? Trump is no more than sycophant for Putin. And let's not forget, little Lithuania beat their asses twice.

Corey Gaber 2 years ago Member's comment

But what if Trump was a willing participant and colluded with Russia. That's even worse!

David Moore 2 years ago Member's comment

once again millions of dollars later ( i heard 400) there is still zero evidence.

When will people realize that he was elected by the working class who were desperate for change

Carl Schwartz 2 years ago Member's comment

Do you have a link to back up this claim? Everything I read said that our intelligence agencies had irrefutable proof that Russia was meddling. Facebook's Zuckerberg said the same thing. I believe whether Russia meddled wasn't at issue. I believe the investigation was to deteremine if the Trump team colluded with Russia, and in this there was no definitive evidence.

James Madison 2 years ago Member's comment

Is it any worse than how the Democrats colluded to try to win Hillary the primary at the expense of Bernie Sanders? That's not a conspiracy but a proven fact due to leaked emails. I find politics to be very hypocritical.

Gary Anderson 2 years ago Author's comment

Thank you William. I hope the ideas in this article are widely shared. And we hope Trump pulls back but he appears to be more radicalized as time goes on. It is an incremental evil that appears to be possessing him.

David Moore 2 years ago Member's comment

Evil?

where are people drawing these analogies from

Hitler

White privilege

When will you all realize that you have been drawn in to the emotional garbage can and lost sense of objectivity?

Richard J. Schwartzman 2 years ago Member's comment

You are right David. People have begun to throw around these words too easily and they become watered down and meaningless. No one else has committed mass murder to the extend of the Holocaust and by comparing people to him is a disservice to all those who died.

When people compared the immigrant holding centers to concentration camps, it made me sick. They were practically club med by comparison.

Gary Anderson 2 years ago Author's comment

You have to always be on the lookout for those who may emulate the evil man. Trump brought this on himself. I never said he was Hitler. I am saying he loves and emulates strong men. He has said things like, we may give a third term a shot. Come on, we at least have to be aware he loves nationalism, which is a code word for his base. We just cannot bury our head in the sand. He is not on Hitler's level by any means. We get that. But he has run over the rule of law and how far that goes is anyone's guess. People MUST be concerned, on at least some level.

David Moore 2 years ago Member's comment

Gary why is being a Nationalist a bad thing?

This country is like the rich uncle the whole family came calling on except, it's so indebted its at breaking point and needs to draw hard boundaries or crash.

This isn't a luxury but a necessity

The President isn't being racist when he says it, he is speaking to all Americans and he is saying the things that people dont want to hear.

Once the rich uncle (Sam) recovers he can start being generous again

Gary Anderson 2 years ago Author's comment

Well, study Hitler. Although he started his trade wars from a recession, he built a powerful economy which was meant for war. Nationalism is aggressive to very aggressive. The very aggressive is war. Nationalism is not just isolationism. It is worse. It is a manifestation of cultural superiority. Donald Trump believes he is genetically superior, and it is on video.

He believes that America is culturally superior, giving us the right, he thinks to bash the entire world. Other presidents have given lip service to American Exceptionalism, and generally went on pragmatically. George W Bush was a precursor to Trump. He left not a popular man. But he planted the seed of us vs them.

Romney was caught saying the 47 percent. So, not all Americans are included in the American Exceptionalism! But American Exceptionalism was taken by W. and the neocons to mean American Empire.

Donald Trump has defined that empire on steroids. He aims to bust any idea that the USA could be exceptional among many exceptional nations. That won't do for him. He is arrogant. He is dangerous. It will lead to a hurtful isolation if it continues. We will be excluded from worldwide supply chains. We will have lost out on the one thing that was to save us from the lost jobs of globalization. Just when we were poised to cash in and have friends, with large populations, Trump pissed it away. Maybe forever.

Richard J. Schwartzman 2 years ago Member's comment

Yes, that is fair to say.

Dan Jackson 2 years ago Member's comment

You and David are right. People shouldn't be throwing around words like "evil" and "Hitler." That includes Trump who shouldn't use those terms either (don't know if he's compared people to hitler, but he's called plenty of people "evil" including those who opposed Brett Kavanaugh).

Moon Kil Woong 2 years ago Contributor's comment

First Republicans need to stand up for free trade and a balanced budget. Next they need to use the separation of powers they rightfully have to force compliance. Republicans can't honestly hope for Democrats to be the standard bearers of these two things which has helped America. Although the US deficit is bad, Republican fiscal conservatives have pressed for centuries to mitigate our spending. Without them we would look something like Italy by now. Likewise it was free trade which helped propel the US into global dominance. The reversal of this weakens the US more than anything any foreign power could do against us and more than any weapon the US could build. In the end, economic power is more dominant than military power among the superpowers.

John F. Donaldson 2 years ago Member's comment

"First Republicans need to stand up for free trade and a balanced budget." - Yes!

Gary Anderson 2 years ago Author's comment

Well said, Moon. But the Republicans appear to be the prisoners of Trump's base. They are either cowards or have some inside information that this nationalist nightmare will be over soon. I hope for the latter but I am not confident.

William K. 2 years ago Member's comment

I am REALLY NOT looking forward to "an Armageddon" in the near future. Life is OK as it exists presently. Don't folks learn from history at all????

Doug Morris 2 years ago Member's comment

Unfortunately, humans are very very bad at learning from history. And as the saying goes, those who fail to do so...