By Erik Wallbank - May 5, 2025
Given that a Harris presidency would have been worse than Trump that is not a reason to not critique Trump. With Harris gone an enigmatic Trump requires critiquing. Consider the Ukraine enigma. Vance supports 100 more days of negotiation while the State Department demands that Russia accede to Trump’s conditions, or we just walk away.
May 8th is the 80th anniversary of VE Day, the defeat of Germany in Europe. It’s of huge significance to the Russians, much bigger than for the United States and the other WWII allies. Will President Trump attend the event in Moscow? Not likely, but he did take the time this week to remind Americans it was the US that won WWII. Maybe it was in the movies, or with George C Scott as General Patton sneering at his Russian counterparts, but not in fact. When the US went to war in December 1941 most of our allies had been at war since 1939. 251,000 Americans were killed in the entirety of WWII. Between 27 and 28 million Russians died, with the Russians causing 80% of German troop losses. One million Russians died at Stalingrad. What Trump said (and not showing up in Moscow) is an indicator of clinical narcissism.
Not since JFK have president to president negotiations taken place. Trump works with Putin and his poll numbers fall because a majority of Americans have been propagandized into seeing Putin as a menacing thug. Still, the task would be easier if Trump had a a basic understanding of geopolitics and diplomacy. Trump came to prominence for firing people on TV, not the best fit for a president negotiating peace treaties. Any CEO who has to fire recent appointees may not possess the best judge of character.
Why is there not peace in Ukraine? Trump resists accepting the reality that Russia’s demands for security must be met. For a man who rules by executive orders (many of which are blatantly unconstitutional) why not bite the bullet and end the war? Trump is the guy that was shot in the ear by the deep state. What’s he got to lose, he ain't getting a 3rd term, neither constitutionally nor by any lawful means. We see Trump negotiating but will it lead to peace? Why does he remind us, while denying it’s his war, that he gave Ukraine Javelins to destroy Russian tanks? And that farce of a deal with Ukrauine - with side treaties to supply parts for F16s and minerals for future weapons funding?
It’s a given that Trump wants to get out of the Ukraine debacle, so why can’t it get done? Begin with the networks, the permanent state, universities and, to a degree, the US voting public all being controlled by globalists - antithetical to Trump talking with Putin. Then there’s Trump himself. He has no issue with going after Americans critical of Israel, so why can’t he show that same determination for an end to the Ukraine War? Trump (not understanding the issues between Israel and Palestine) doesn’t understand the causes that led up to the Russian invasion. Instead he sees a deal in the making. Could Trump end the war without Ukrainian input? Of course, Ukraine never mattered.
Meanwhile, back in the States foreign investors in US paper are paying a tariff to participate. Since Inauguration Day the exchange rate for the dollar has fallen 6%, something Trump wants, and foreign purchases of Treasuries have lost 6% in foreign currencies. This policy is intended to make US exports cheaper and more attractive (if we had any). Instead, it makes imports more expensive for things we need but don't make. Trump wants Americans to not buy Chinese imports when, really, we have no choice.
Ask yourself about the hubris involved that allows an hotelier to risk the US economy, and the financial well being of already cash strapped Americans, for what he sees as a geopolitical deal. Then consider a world playing games, involving complex reasoning. Russians play Chess, Chinese play Go, but Americans play poker - a simple, short-term, game with few rules where the outcome depends on force of personality - bluffing.
So, how are we looking economically? Subway closes more than 600 stores. UPS expects to reduce its workforce by 20,000 (2025), citing new or increased tariffs. At the Port of Los Angeles incoming cargo volume will be down this year more than 35%. Container bookings from China to the United States have fallen by as much as 60%. 74% of all US workers are currently living paycheck to paycheck. Apollo Global Management is warning that mass layoffs in the trucking industry are imminent.
It is a fact that our republic has been under siege for decades. Think of it in terms of software and hardware: cultural acquiescence and acceptance being the software, and our system of governance being the hardware. When democracy goes the cultural software goes first, then the hardware. The political climate allows for unconstitutionality - then comes the attack on the infrastructure. The degeneracy of the cultural software did not begin with Trump, it was well established before the turn of the century.
Donald Trump loves the prepositional phrase - adjectives and adverbs make up for a lack of content. He demands direct Russia/Ukraine talks while expressing he would rather be Pope. Or, we are not going to fly around the world at the drop of a hat to mediate meetings. Or, we did more than any other country, by far, in producing a victorious result in WWII . . . nobody was close to the US in terms of strength, bravery or military brilliance. Across the world he is being viewed as being off his bloody rocker.
Separation of Powers is the message of the US Constitution - our “infrastructure”. The Founders had King George as a model and they did all they could to forestall a 'King Obama' or a 'King Trump'. Unless Americans challenge Trump go fear for the Republic. Some of Trump’s executive orders are positive but, in the end, if his overall policies hasten economic collapse, or war with the Global South, things like red dye, illegals and Title IX won’t matter.
The world is becoming a hellhole. The EU locks up questioners and gets ready to go after crypto - for “security”. But, on the other side, China’s RMB will soon be convertible to 38% of global currencies. And what took 3 to 5 days to settle under SWIFT will take 7 seconds to process at a 98% reduction in cost - no need for the US. Because of ill-thought-out policies dollars will come home to a reality of $17T in US equities, $7T in treasuries and $5T in corporate bonds - 20-30% of US paper assets with 70-80% held by Americans. The dollar will be trash, but thankfully we stocked up on gold, silver and lead.
Get my articles by request, or comment, at: erik@neverhadaboss.com . . . and thanks!
