US no longer has resources to individually maintain world order
This summer, while being a presidential candidate from the Republican Party, Donald Trump outlined his economic program in Detroit, which offered a sharp decrease in taxes, along with a significant increase in the army and infrastructure costs. According to Trump, the US must rely on its own energy and the labor force, while now the country imports energy resources and many US companies have established production abroad. The candidate promised that he would defend the interests of metallurgists and car makers, improve infrastructure drastically. Trump did not elaborate how he will implement this program in terms of opposition from the Congress.
Yesterday, the Russian economist, statistician, writer and political analyst Mikhail Khazin outlined the US economic outlook during a meeting of the Zinoviev Club: "If Clinton became president, there would be an easing of the monetary policy, the resumption of the emission. According to Trump, they should improve the national economy. But how to improve the economy, which has so many debts? Before the crisis, the financial sector was 70%, now it is only 35%. In any case, there is no reproduction of capital at the zero-rate. That is why the rate should be increased. But they cannot raise rates with such debts. Therefore, it is necessary to declare corporations and households bankrupt and write off debts".
According to Khazin, the whole problem of the global crisis is a problem of demand: "The supported demand by money obtained from emission. But the war can reduce demand, that is, aggravate the crisis. Financiers need the war only for a single purpose - to absolve themselves of their responsibility through force majeure. That is why hey like the Middle East so much. According to Trump, the simple economic logic is: to raise the rate, because when raising rates multinational financial institutions crumble and disappear. But the dollar will not be an investment instrument if raising rates, the only payment option for all countries of the world is to create of regional investment currencies. Naturally, trough emission, because the monetization of all the regional currencies is very low, their place is taken by the dollar. We automatically see the world collapsing in the foreign exchange areas".
The economist is convinced that in this situation, Trump does not have any personal feelings nor to Putin nor to Xi, but they are his partners in the framework of establishing order. "Opening of the General Assembly of the United Nations in 2013, Obama said:" We [the US] have no more resources to unilaterally maintain the world order. Either we will get support, or the world order will be changed". He said directly, but nobody listened him. Now the time has come. If we comply with that logic, then we will agree with Trump. And if we do not comply, then we will not agree, regardless of personal likes or dislikes."
Meanwhile, according to Khazin, "the entire leadership of the Russian government, the Central Bank, the main expert institutions are within the same team, which supports Clinton, so Trump will not talk neither to Nabiullina, nor to Kudrin, nor Shuvalov, nor to Dvorkovich. They are representatives of his enemies. "