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Unraveling of the Trump Presidency

March 10, 2020

Much to the disappointment of my colleagues and investors, I have been very critical of Donald Trump’s administration of his Office.

He brings to office a businessman’s conceit that government can be run like a business and proudly stated that “We have too many people” in government.

His Office of Presidential Personnel was not the center of a concerted effort to nominate or simply hire professionals committed to his philosophy of government–whatever that is. And when appointments were made, he seemed to give preference to persons of wealth, career military and, when necessary, current and former Republican officeholders.

No attempt was made to find and appoint political conservatives with government experience. The few exceptions have done well (Larry Kudlow, Mike Pillsbury, Elizabeth DeVos are three that come to mind) and of those three, two are extremely wealthy.

Lurking behind the curtains in President Trump’s mind are failed enterprises whose failures may be attributed to his dyslexia and bad–even illegal–management.

The President is right to fear federal prosecutors in the office of the U.S. Attorney for the Southern District of New York. I suspect that the Trump organization (Donald, Don, Jr., Eric, Ivanka)  engaged in a sophisticated form of money laundering for Russian oligarchs and engaged in the practice of bribing foreign government officials in contravention of the Federal Corrupt Practices Act (FCPA).

Because Donald Trump is an “ear learner,” not an “eye learner,” President Trump lacks understanding of details of policy so important in government. And unlike a business where workers are employees, most government executives serve for life and aid and abet the powers and reach of their respective agencies irrespective of who is the Chief Executive. As one CIA agent told me “We know how to take care of people like him” referring to a political appointee critical of the CIA.

That makes government service very risky for political appointees and requires knowledge and valor in opposition to –or sycophancy and acquiescence–the Deep State. The latter two characteristics were dominant, even in the Reagan Administration.

Since January, the President’s dyslexia impaired his response to the Covid-19 pandemic which response was “off” by a mile. Testing kits were inadequate and Labs where test results were processed are too few and easily overwhelmed.

Covid-19 is now affecting the value of stocks thus removing President Trump’s reliance on growth in the value of registered securities. If he’s right, however, and this “pandemic” is less lethal and pervasive as some predict, Trump will do well in the 2020 election.

Add to that the choice of Democrats who may select a socialist or an older man exhibiting signs of dementia as their nominee for President in the 2020 election and Donald Trump’s good luck may continue.

But what are the prospects for the future of our country?

 

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