BALTIMORE – “I couldn’t believe it,” said a friend with grandchildren in a private school in the Washington area. “Their school provided grief counseling!”
“Yes. Apparently, students were so upset by Donald Trump’s victory that the school thought it should provide psychologists to help them get over it.”
The New York Times, too, seemed to need therapy.
Its weekend edition is full of blaming, scapegoating, and flagellation. Hillary blames FBI Director Comey for her defeat. One columnist says white Americans have become racists.
Another says women are deplorable, too. They didn’t support Ms. Clinton as they should have. “Behind these angry white men are angry white women,” it points out.
Five days have passed since the election results were announced. Many people are still hysterical. They should calm down and take a closer look.
The System Works
Already, the dots are coming together. What we see is this: The system works!
That is, the system whose main purpose is to protect the system continues to do so.
“The Donald” may be getting ready to mount his throne. But the Deep State – America’s “shadow government” – stays in Heaven.
First, Mr. Trump used his victory announcement to signal that easy credit – upon which the system depends for funding – will get even easier.
To the easy monetary policy, he will add easy fiscal policy. As much as an additional $1 trillion will be spent on “infrastructure.” On credit, of course.
As one of Mr. Trump’s economic advisers, Anthony Scaramucci, wrote in the Financial Times this weekend:
While easy-money monetary policies have exacerbated the income divide, central bankers handcuffed by political dysfunction have had little choice but to provide extraordinary accommodation… [B]usiness people like Mr. Trump understand you can grow yourself out of excessive debt.
What we think he meant to say was that you can “inflate” your way out of excessive debt by spending more than you can afford – if you can get Congress to go along.
This new spending was just what President Obama asked Congress for and couldn’t get. It was what big-spending economists such as Larry Summers, Paul Krugman, and Joseph Stiglitz had urged.
It’s what the Financial Times has called for from the get-go. And now the same Republicans who stopped President Obama’s infrastructure spending proposals are expected to come forward and approve Mr. Trump’s program.
Steel! Ships! Concrete! Woohoo!