The 2024 Election – A Pivotal Moment for the American Economic System: A System of Our Own, Worth Preserving
The 2024 election is not just another event. It's a pivotal moment that will shape the future of the American economic system. The decisions made in this election will have far-reaching consequences, and it's a system worth preserving. The urgency of the 2024 election season is palpable, marked by a continuous and vital conversation among American voters about the pressing need for sustainable economic progress. This is the key goal of the 2024 election, of policies that, once achieved, will significantly improve Americans' standard of living, offering a hopeful future with a vibrant job market, raising incomes above inflation, and ensuring affordable housing, food, and other goods and services that Americans have traditionally taken for granted but have lost. This hopeful future is within our reach, and it's up to us to seize it.
Capitalism is not the problem - The real issue lies in the heavy weight of government regulations, inflation, manipulative monetary policies, and illegal immigration. Our nation has drifted away from serving the needs of Americans and instead to serving those who want to discard our Constitutional Republic for a socialist economy where the government picks winners and losers and controls the quality of your life. The discussion among voters that capitalism is too unpredictable to be trusted must be re-examined. It's not capitalism at the heart of the problem; the move toward more government control causes all the imbalances that prohibit the free market from properly functioning. The goal is not an unregulated economy but one of common sense, drawing from the principles of the American Economic System of our Founding Fathers. The negative impact of socialism, which leads to loss of freedom, stagnation, and economic collapse, is not just a theoretical concern. It's a real and present danger, a path we must avoid at all costs. This is not a debate; it's a call to action against the detrimental effects of socialism.
The move toward socialism is not new; it has been a movement that incrementally changed the public perception of the role of government. Accepting more government is better for solving problems when the dynamic is just the opposite. When you consider the size of the government, it’s overlooked by the American people that in 2024, forty-two percent of the GDP is related to federal, state, and local spending and redistribution. That number is not getting smaller but continuing to grow. America’s dependency on government has been unprecedented over the decades, starting from FDR’s New Deal, which has morphed into the colossus of trillion-dollar deficits and overall deficits at the time of this writing of $35 trillion and forecasted to exceed $50 trillion by 2033. The continued growth will end in only a tragedy that will undermine our economic security now and for all future generations—but it’s a choice, not an eventuality. The question remains: will Americans wise up before it becomes too late to do anything about it? The time for action is now. It's time to wake up, take a stand, and make informed decisions. The weight of these decisions cannot be overstated.
What made America an economic juggernaut? - Was it socialism? A giant government bureaucracy? Was it Equity, Diversity, or Inclusion, a set of principles to promote societal fairness and equality? Was it government redistribution? Was it massive deficit spending? As you probably already surmised, it was none of these things. On the ash heap of history are prior civilizations that moved toward a top-heavy bureaucracy and failed most notably the Roman Empire. What lessons will Americans learn from the past? It appears the Americans living on Main Street will not heed that lesson. Over the decades, the pernicious growth of the government has gone unabated as Americans demand more instead of less by putting those in office who forgot how to add and subtract. What did it yield? It has stolen from Americans opportunities by replacing good-paying jobs with government spending that denies the economy the ability to create upward mobility in the standard of living.
How can you say that this is happening? All one has to do is look at what’s occurring to present and future Americans in the following generations by looking at their quality of life and economic development. It’s known that Boomers' offspring will not enjoy and experience the same quality of life as their parents. This applies to Generation X, Millennials, and Gen Z. The disenchantment of Americans that will follow defines how America has become a poorer population that has been diluted by government policies that sucked out America's developmental capabilities and production capital in favor of redistribution as the government grows and the population becomes poorer. As the population becomes more dependent, the government incrementally replaces productive capitalism, which is the heart and soul of progress. Today, tens of millions of Americans cannot own a home, get a good-paying job, pay off debt, get married, or start a family. But in the backdrop, the American people have a lot to answer for by electing socialists who do not have your best interests at heart just because of a particular label (D) or (R) by their name and believe everything they say. It's time to make better-informed voting decisions and take back control of our economic future.
The American Economic System - A beacon of prosperity and progress, often lost in the pages of history that should be taught in the classroom or mentioned in government, business, and finance. This system, the road map of how America became the tremendous economic juggernaut that rises all boats and has produced the most outstanding economy in world history, is a testament to our resilience and ingenuity. The victory of the American Revolution brought a shift toward populist economic thinking that was epitomized in Alexander Hamilton’s Treatise on Manufacturing (1791), which he presented to Congress as a formula for sustainable economic growth.
For review, Alexander Hamilton was America’s first Secretary of the Treasury and one of the original founding fathers of our nation. He had foresight and a vision to expand the economy from an agrarian world to a top-flight manufacturing power, including infrastructure investments, a robust industrial base, innovation/technology development, patent protections, strong defense, and constructive trade policies. Furthermore, he elaborated on a modern banking system and capital markets that included strong dollar and fair exchange rates. This resulted in an expanding economy and cooperative trade agreements to protect the country from predatory policies and created the building blocks of the American Economic Experience.
Americans must understand that the great wealth and standard of living we have taken for granted are rooted in Hamiltonian policies. These policies have made America the best place to live and offer the highest standard of living in recorded world history that other prosperous nations have imitated, and it’s the rejection of these policies that’s lowered America's standard of living.
America’s Free Trade Switch - In the twentieth century, instead of concentrating on policies that protected American jobs, industry, and standard of living, the United States Government was influenced by think tanks, NGOs, lobbyists—foreign/domestic, the business world, academia, Democrats, Republicans, who started redefining trade policies to reflect a global approach that they claimed increased our wealth and was a natural evolution of interlocking global markets that found the highest and best use of resources in markets creating lower prices under banner of free trade. The “Free Trade Era” that continues until the present day has significantly degraded the United States economy by diverting the means of manufacturing and production, including the service economy, around the globe to the disadvantage of the American worker. Places known as the “Rust Belt” left a blight that scared the soul of the Middle Class, leaving behind dilapidated buildings, empty railroad tracks, and the loss of high-paying jobs. Many will point out that these problems were inevitable, but remember that tax policies, regulations, and greed pushed these trends. The number of jobs lost since the 70s is in the tens of millions; that’s a multiple of a process that failed the vitality of cities and communities to offer adequate employment throughout America from coast to coast.
The Impact of Globalism - Globalism has created economies of scale by diversifying the means of production, where the parts of a selected product or textiles are from twenty different areas of the world, creating a finished product that has amplified “Free Trade.” Globalism is retreating as nations look to capture a more significant share of trade, which implies a degree of protectionism. However, a hybrid world of trade that allows a fair playing field of open markets and that promotes competition to dictate trade, where protectionism is used as a tool to protect against predatory pricing and product dumping as the world playing field has leveled out. Therefore, tariffs are tools that countries use to create equitable trade, which is a reminder of Hamilton’s legacy.
Hamilton’s Time - Hamilton could not have foreseen the effects of the technological revolutions that transformed the world, the massive entitlement state, income, corporate taxes, millions of pages of regulations, or the energy revolution. He would be appalled to see the denunciation of the Constitution established to fight the authoritarians and how the American Economic System was abused by the same type of people he fought. England, too, used the American colonies to enrich themselves at the colonist expense, the same as “Free Trade Policies” did to the American people. But despite all that has changed, Hamiltonian principles are immutable as his words still point the way to recapturing back the greatness of the “American economic system.”
If Hamilton had a chance to view our world today, what lessons would he take back, and what would he tell us? Like those Americans who understand what is occurring, Hamilton is inclined to get out of your comfort zone and fight back with all your might. Similar to the revolutionaries of their time, the grassroots must make an effort or get swallowed up if we don’t break the chains of the Aristocracy or, in today's parlance, the Globalists who have infected America and have attacked and imprisoned those who have a difference of opinion who use government gangsters and social media to shut down dissent. Hamilton committed high treason against the British Crown, who, if he had been captured, would have been summarily hung.
Trump versus Hamilton - Trump’s America First Movement represents the reintroduction of Alexander Hamilton’s subject on Manufacturing. The primary takeaway is Trump’s use of tariffs and reciprocal trade agreements that benefit Americans by creating an incentive to bring back production, capital, and investments. If you want to sell it in America, build it here. Stabilized the dollar by keeping the economy flush, accentuating supply and demand by lowering tax rates, accelerating depreciation, reducing regulations, and developing plentiful, cheap energy to create a price equilibrium that will lower inflation well below gains from increasing wages and productivity that Americans desperately need as interest rates fall to competitive levels that will moderate the housing market, creating greater supply translating into lower prices across the board for all goods and services. What is overlooked is how the tax revenue collection at historical levels is due to the Trump tax cuts. Interestingly, the Trump tax cuts during the Biden Administration provided the fuel that kept the US economy afloat despite all his efforts to diminish it and give it legs during his failed Presidency that he wants to reverse.
What About the Dollar – One issue that should be on every American's radar screen is the destiny of the U.S. Dollar, whose mismanagement is a prime threat to everyone's economic security. What will happen in the 2024 presidential election will determine our collective faith, and so goes the dollar. All Americans see the rampant inflation caused by massive trillions in deficit spending, artificially high interest rates, and the Federal Reserve monetizing the debt—where the U.S. prints bonds that the Fed purchases and they create money to loan to the U.S. government when they don’t have buyers for U.S. debt issues. Other factors pushing inflation are the excessive regulations that drive up costs in every sector of the U.S. economy and affect all goods and services, including the restrictions on energy output, limiting oil, liquid natural gas, and coal.
Since the end of WWII, the dollar has been the world's prime reserve currency. It provides an effective foreign exchange mechanism where nations can confidently transact, facilitating monetary exchanges. However, the dollar’s journey has been bumpy. In 1971, President Nixon removed it from the international gold standard, which caused the dollar's devaluation, leading to most of the inflation during the 1970s and nations questioning the U.S. decision. To shore up the dollar, President Nixon and Henry Kissinger signed the Petro Accord with Saudia Arabia's Crown King that all oil sales would be transacted in dollars. In return, the United States offered the Saudis a security agreement and sold defensive weapons. The Petro Accord kept the dollar as the world's prime reserve currency, and the world went on as dollars were recycled and used as foreign exchange by countries.
With the dollar’s release from the pressure of maintaining fiscal responsibility under the Bretton Woods Agreement of 1945, the United States government had a green light to start using inflation to finance the government instead of raising taxes. The dollar had officially been converted into a fiat currency, which was no longer backed by gold but based upon the credit and good faith of the United States government. Over the decades, the United States used its prime reserve currency status to depreciate the dollar incrementally to satisfy domestic policy needs. It had a blank check to create as much debt as it wanted to expand its control over the nation with no accountability. It used its power to influence nations to accomplish its foreign policy ambitions; however, nations sometimes took expectations to the dollar hegemony and influence as they disagreed with the United States' actions that sanctioned sovereign nations and waged war.
BRICS & Dedollarization – If you follow the news, hopefully, you have noticed that BRICS nations are challenging the dollar's legitimacy by stating that the United States is abusing its power. The BRICS nations are Brazil, Russia, India, China, and South Africa. They have aligned with approximately twenty other countries and, most importantly, Saudi Arabia to trade among themselves and use their currencies instead of the dollar to settle foreign exchange.
What does this mean to the average American? The strength of the United States' global power lies in the dollar’s world reserve status, and out of all the nations revolting, the most important one is Saudi Arabia, which has decided to sell its oil reserves in currencies other than dollars. The relationship allowed the United States to run trillion-dollar deficits because there was an abundance of buyers of U.S. debt and flood the international and domestic zones with dollars without causing high inflation. A significant part of that is using the dollar as the benchmark to buy and sell oil, creating demand for dollars and debt.
What Happened - The accusation claims that the U.S. is interfering with nations' sovereignty by arbitrarily using economic sanctions, high interest rates from inflationary deficits affecting their economies, and potential national assets confiscation, causing a movement to replace the dollar as the prime reserve currency. Furthermore, the Biden-Harris Administration made a colossus failure by angering the Saudis over an international accusation of a member of the royal family murdering a reporter. The extent of whether it remains to be seen is necessary, but the fact is that keeping the Petro Accord intact is essential to the dollar; maintaining its hegemony is paramount and could affect every American because Biden made a critical error and demonstrated his misguided policies are consistent with his Administration that defines the lack of rational judgment throughout his government.
Ukraine—The Flashpoint – The Dedollarization controversy has deep roots in America’s conflict with the Russian invasion of Ukraine, which has multiple layers that identify the issues, including the political and domestic demonization of Russia that Democrats unsuccessfully used to try to impeach Donald Trump, the continuing false narrative that Russia is involved in interfering with American elections, the deterioration of American—Russian relationships that the Biden-Harris Administration stoked, and the insistence that Ukraine become part of NATO, Putin said for years, is a red line not to cross that American foreign policy consistently recognized.
The Russian political interference was disproved when the Muller investigation concluded there was no connection or collusion with President Trump. The political propaganda pushed out by the United States government was a pretext for America to incentivize Russia to move on Ukraine. The Russians advanced into a conflict when Biden implied that the Donbas Region was not a red line in his speech. To add insult to injury early on, former British Prime Minister Boris Johnson brokered a peace settlement that the Biden-Harris Administration rejected as a missed opportunity years ago. The community of nations sees what’s happening to their dismay. NATO went along with it to cover Biden’s actions. There are different sides to justifying the war with Ukraine or accepting to settle an end to the conflict. What has evolved is the proposition that Russia has territorial ambitions beyond Ukraine; therefore, an aggressive long-term strategy is essential, and defeating Russia must be the prime objective that resembles Korea, Vietnam, and Afghanistan. All these wars that lasted years cost billions and trillions of dollars, and the United States withdrew without a victory that had no meaningful effect where the assumption to fight these wars in the first place was incorrect.
The Aftermath – The Biden-Harris Administration used a common propaganda theme that’s been used since WWI to garner support from the American people, known as the fight to defend democracy. The entire Democratic caucus in the House of Representatives, one-half the Republicans and all the Democrats in the Senate, and a handful of Republics voted to pave the way with over $100 billion in aid to Zelensky and his government to fight an American proxy war with Russia that had nothing to do with democracy in Ukraine.
To subdue the Russians, Biden-Harris placed sanctions on them, locking them out of the SWIFT transaction system on exports, energy, and goods to punish them to submit and withdraw. But it completely backfired as Russia found alliances with China, Brazil, North Korea, and others and was unable to restrain the Russian Ruble as Russia developed a close economic and security partnership with China that put them in their orbit, shifting the geo-political balance of power that was muted since the 1970s under Nixon that Biden-Harris had undone. Here is yet another foreign policy blunder that has to be corrected under the Trump Administration. As the BRICS block of countries starts to corelease and other countries join the dissatisfaction with the Biden-Harris Administration in conducting its domestic and foreign policies, it is putting the United States and the dollar on notice that it has overstepped its bounds in forcing sovereign nations to the dictates of self-serving interventions for purely political reasons and using Ukraine as a venue to commit financial crimes and money laundering allegedly committed by the Biden family that the U.S. House of Representatives discovered by James Comer’s committee that the Biden-Harris Administrations FBI and Department of Justice are stonewalling. Adding insults to injury, it has been floated that the Biden-Harris Administration pay for the war by confiscating and using billions in frozen government bonds owned by the Russians. A move to do this will send shock waves worldwide that will discredit the United States by stealing property that would aggravate and shake the foundations of the dollar and the legitimacy of the United States among the community of nations. The fact that this type of move is even discussed demonstrates the rank arrogance and incompetency of the Biden-Harris Administration.
What Does that Mean for Americans – There is an imminent danger for all Americans, no matter your political stripes, party affiliation, alliances, or associations, is the planned devaluing of the dollar as a matter of policy that has been accelerated under the Biden-Harris Administration all House and Senate Democrats, one-half of House Republicans and twenty oscillating Senate Republicans that has put Americans done this reckless and dangerous path. The inflation created has two goals: to devalue the trillions in debt the government is making and to punish American’s standard of living by replacing free enterprise with government absorbing an increasing amount of America’s Gross Domestic Product (GDP). The further shift away from the Hamiltonian “American Economic System” represents a clear and present danger from a bureaucratic top-down command economy that transfers America’s wealth to the government and a monopolistic economy where Main Street continues to grow poorer and Wall Street wealthier.
The destabilization of the dollar abroad is a process that will not happen overnight but will be incremental, depending on what the United States does with its domestic spending and monetary policies and its continuation of waged proxy wars. The antagonists are igniting the BRICS block against America, the Chinese, and the Russians, who intend to achieve a global hegemony where the Chinese Yuan or the Russian Ruble replaces the dollar. Presently, an ad hoc arrangement exists that has directed transactions to be settled unilaterally among countries, but with that said, still, eighty percent of all transactions find their way to settle in dollars. What has demonstratively changed is that the United States controlled seventy-five percent of the foreign exchange reserves. Over the decades, it has been reduced to under fifty percent, which is no surprise as competition also plays a role. Although Saudi Arabia has started to settle oil in other currencies, at this point, it’s not affecting the dollar as the shift is not enough to make a difference, but that will change if the United States doesn’t get its house in order.
A Warning -- What’s over the horizon for the United States and all Americans is if the Biden-Harris policies stand, will eventually and soon over the coming years flatline the economy and drag the dollar down will threaten the American's way of life, which all of us have enjoyed that is slipping away. Americans now realize that events change our lives fast, and the out-of-control government that has broken all the Constitutional checks and balances has upended the promise of our free enterprise system and a stable dollar.
A Solution – In 2024, there is a candidate, Donald Trump, who embraced the Hamiltonian American Economic System that worked so well during his first term that kept low inflation below wage gains so Americans have plenty to enjoy their lives, increased good paying jobs, provided tax relief to businesses to expand output and gave Americans of all economic classes more after-tax income, grew tax receipts to a historic level, kept interest rates low, and for the first time in American history the United States was energy independent and the global leader in petroleum, natural gas, and coal. The Trump economy gave Generation X, Millennials, and Gen Z economic opportunities, lifted blacks and Latins, single moms, and gay and hard-working families, and preserved the promises of the American Economic System, the standard for prosperity that built America.
Decision 2024 – Trump for President to restore American Greatness – It’s your choice.