I guess that Trump has the minimum amount of money these days to buy himself complete political independence. That is what scares the rulers of the earth today, who are congregated in Davos, Switzerland, busy networking with the latest chattering class memes. Goldman Sachs does not own him. He can run a Presidential campaign out of his own pocket.
The prospect of Trump in the White House is ratcheting up anxiety among the 2,500 business and political leaders gathered at the Swiss ski resort for the annual World Economic Forum. With less than two weeks before voting in primaries gets under way and Trump in the Republican Party lead, those who fear a rise in protectionism and economic mismanagement are speaking out against the billionaire property developer.
“Unfortunately I do think that if there were to be a Trump administration the casualty would likely be trade,” said Eric Cantor, a former Republican House Majority Leader and now vice chairman of Moelis & Company. “That’s a very serious prospect for the world.”
Be afraid, elites, be very afraid.
The presidential race shows that the U.S. is not immune to the wave of populism sweeping the globe. In the U.S. case, the economy has recovered faster than other developed nations from the global slump of 2008 and 2009, and yet wages haven’t kept pace with a rebound in corporate profits. That’s helping candidates like Trump and Bernie Sanders who say the system is rigged against average Americans.
I recall that great patriot, public servant and war hero, George Herbert Walker Bush, being defeated after one term by a hillbilly genius called Bill Clinton because Bush was thought to be out of touch with Americans in an ordinary economic downturn. Here we are, in an eviscerated economy, and a President playing golf more than he is at the office, and a Democrat representative of the billionaire class trying to succeed a Democrat representative of the Muslim Brotherhood. How likely to you think Hillary is to be the next American President?