The Swamp Is Winning by Bill Bonner
BALTIMORE – Judging by the Diary Mailbag (see below), dear readers would like to see a more positive attitude towards the president-elect.
We would like to take a more positive approach; we like wishful thinking as much as anyone.
In particular, we’d like to see Mr. Trump do away with the inheritance tax.
In the meantime, we’re just reporting what we see. And what we see now is a parade of swamp rats making their way to Trump Tower.
Donald vs. the Swamp
Maybe Mr. Trump has some clever strategy…
Maybe he is doing a feint – putting the varmints at ease while he prepares a full assault.
Or maybe he just doesn’t know what to do and finds the rats agreeable.
But so far, in the fight between Donald and the Swamp… the Swamp is winning.
Take this headline from Bloomberg: “Wall Street Wins Again as Trump Picks Bankers, Billionaires.”
The article tells us that less than 24 hours after he was chosen as Trump’s new secretary of the Treasury, Goldman Sachs alum Steven Mnuchin contradicted his boss. Trump says everyone will get a tax cut. Mnuchin says the rich will get nothing.
The Goldman guy (Mnuchin was at the firm for 17 years before starting his own hedge fund) is probably just trying to head off criticism. After all, the last thing the country needs is another Goldman plant in the Treasury lobby. They’re all over the place already.
But we’re not complaining about the swamp critters… or about Donald Trump.
The whole thing continues to be immensely entertaining – so many myths and misconceptions colliding… so many false promises and frauds crashing into one another.
We’re delighted; everywhere we look, we see a train wreck.
But in Flyover America, people turn their lonely eyes to Mr. Trump.
“Touch us! Heal us!” they wail.
They thought he was the Manhattan Messiah… who has come to give them life, and give it to them more abundantly. They expect him to bring back their jobs… and to make them proud as he makes America great again.
But to do so, he has to “drain the swamp.”
And they must be wondering, as we are, why so many crony insiders amongst the disciples?