Jan 27, 2025 The Intersection with Popok
in what's going on.
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Trump FAILS on CAMPAIGN PROMISE... Supporters PISSED
Jan 27, 2025 The Intersection with Popok
Trump failed to mention Cryptocurrency in his warped inaugural address and failed to immediately establish what the Crypto Bros wanted -- a Trillion dollar National Crypto Strategic Reserve in his executive order, establishing a "working group" to one day look into it, pissing off the digital assets community leading to a major sell-off worldwide. Popok with his Wall Street and cryptocurrency background reports.
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Trump is an idiot who bankrupts every business he controlled. He wants to the implement tariffs of President McKinley’s days that started the economic depression of 1893 to 1898 only surpassed by the Great Depression.
“Yet Trump spent months talking up McKinley’s supposed virtues on the campaign trail, largely because he was (like most Republicans of the 1890s) an advocate of high tariffs. “In the 1890s, our country was probably the wealthiest it ever was because it was a system of tariffs,” Trump told one audience. In his second inaugural address, Trump even gave McKinley credit for the Panama Canal, which was not begun until nearly three years after his assassination.
Trump claimed that the deceased McKinley “gave Teddy Roosevelt the money for many of the great things he did, including the Panama Canal,” before going on to complain that President Jimmy Carter “foolishly” gave the canal to Panama. Trump claimed the United States “lost 38,000 lives in the building of the Panama Canal.” (In reality, around 5,600 laborers died, about 350 of them Americans.) And “We have been treated very badly.” (We haven’t.) And “China is operating the Panama Canal.” (It isn’t.)” Trump promised, “We’re taking it back,” without specifying how. (Earlier, he promised to measure his success by “the wars we never get into.”) This was part of a more sweeping pledge to turn America into a “growing nation” that once again “expands our territory.”
Trump has been talking in recent months about buying Greenland and even making Canada the 51st state, although, mercifully, neither warranted a mention in his inaugural address. The latter suggestion appears to be a joke, but the former seems earnest. He is even trying to rewrite maps by renaming the Gulf of Mexico as the Gulf of America and changing Denali’s name back to Mount McKinley.
Thus, Trump’s affinity for McKinley would appear to run deeper than mere tariffs. McKinley is remembered, after all, primarily for his promotion of U.S. imperialism: He fought a “splendid little war” against Spain and subsequently turned the Philippines into a U.S. colony, took possession of Guam and Puerto Rico, annexed Hawaii, and made Cuba into a protectorate. Trump seems eager to inaugurate a new era of territorial expansion and high tariffs, à la McKinley. A glance back at the 1890s suggests why these are both really bad ideas to resurrect.
McKinley did not make America incomparably rich: In 1900, at the height of protectionism, U.S. GDP per capita was, in inflation adjusted terms, $11,519 — less than Kazakhstan’s today. By contrast, after decades of free trade policies, U.S. per capita GDP in 2023 was $82,769. The McKinley Tariff Act of 1890 — sponsored by McKinley when he was a House member — proved so unpopular that it led to the Democratic landslide of 1892, and it certainly did not set America on the path to limitless prosperity: The economic downturn from 1893 to 1898 was one of the worst in the nation’s history. Unemployment in 1894 spiked to 18.4 percent, the highest level until the Great Depression.”
MORE AT:
The Washington Post
Why McKinley makes an alarming Trump presidential role model
William McKinley was at best a mediocre president, but he had attributes that appeal to Trump.
January 26, 2025 at 6:30 a.m. EST Yesterday at 6:30 a.m. EST
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