BALTIMORE – “How President Clinton Will Handle a Hostile Congress,” reads a headline in the Financial Times.
The “pink paper” isn’t waiting for the votes to be counted.
Many Republicans, too, have given up trying to get Donald Trump into the White House.
They’re abandoning him like a hunk of old cheese, hoping the smell doesn’t stick to their clothes; they want to get reelected.
Curiouser and Curiouser
And so, the curious presidential election of 2016 just gets curiouser.
What a spectacle!
Instead of attacking his opponent and her policies – which should be easy targets – Mr. Trump takes aim at his fellow Republicans.
Senator John McCain is “very foul mouthed,” Trump snarled on Twitter.
House Majority Leader Paul Ryan is a “very weak and ineffective leader.” And “disloyal” Republicans are “far more difficult than Crooked Hillary.”
Trump says the “shackles are off.” It’s time for bare-knuckles brawling, preparing to blame the Republican Establishment for his defeat. This should be fun.
But, behind the scenes, the serious conversations must have begun:
“Look,” says a sober voice from inside The Donald’s brain. “If you stay in the race, you will lose. Then, Hillary and the Republican Establishment will both be after you.
“Taxes… sexual harassment… labor law – they’ll find something to pin on you. You know how it works. You can always find something.
“You’ll be the biggest loser in presidential history. A schmuck. You’ll go down in history as the guy who destroyed the Republican Party. Maybe the guy who destroyed American democracy.
“Nobody will buy your wine. Or your steaks. Or stay at your hotel. Or play on your golf course. You’ll be lucky to end up broke again. Worse case, you’ll go to jail. And your wife will leave you. She’ll take what’s left of your money.
“Or what? Everybody hates Hillary. You’re probably the only Republican in the nation she could beat. It’s almost as if she asked you to run against her. Just sayin’…
“Drop out gracefully. Make a deal; heck, you’re the world’s best at dealmaking. You let Pence take the lead. In return, you’re a hero… standing aside for the good of the nation. No investigations. No grand juries. No loans called. No time in the pen.”
But that is not the only voice in The Donald’s head. He hears his fans, too. Adoring. Unquestioning. They goad him on…
And he sees his face on every TV screen and magazine cover. “Do you want to give that up?” asks one little devil. “You’re tremendous, believe me,” says another.
We are witnessing the meltdown of the Republican Party, caused by the intense heat of its own contradictions.
The story takes more time than we’ve got here. We’re going to tell it – as we see it – in the next issue of our Bill Bonner Letter. But here’s the Dummies guide version:
For many years, the Republican Party represented the voice of conservatism. It spoke from generations of bitter experience, telling us to beware of Big Government:
“Keep it little,” it said. “Keep it humble. Keep it under control. Keep its budgets balanced, its taxes low, and its ambitions limited. Stick to the Constitution.”
Traditionally, conservatives distrusted government social programs. In 1961, Eisenhower warned them to distrust the military, too; he knew it better than anyone.
The old conservatives considered government a “necessary evil.” But like heroin or Facebook, they knew it reaches the point of declining marginal utility fast. That is the message that won Ronald Reagan the White House in 1980 and again in 1984: Less is more.
But then, in the 1980s, there emerged a new species of “conservative.” A Deep State conservative who combined the worst features of left and right: a big spender at home and abroad. He saw the government as a tool that he could use to transfer money and power to himself and his Deep State friends.
This new breed took over the Republican Party; real conservatives gradually disappeared from public life. And without the resistance of the old conservatives, it was impossible to rein in the ambitions of the world improvers.
Even President Reagan ran some of the biggest budget deficits ever seen in peacetime, a phenomenon recalled in the excellent memoire by Reagan’s budget adviser, David Stockman, The Triumph of Politics.
And the Republicans signed on to every jackass war that came along – on poverty, on drugs, on terrorism, and, importantly, on markets.
In 1990, George H. W. Bush, who had been Reagan’s vice president and was now president himself, announced a New World Order.
How’s that for conservative… remaking the entire world!
His son took it further. He signed every dopey proposal that crossed his desk, including the biggest single increase to the Welfare State in nearly 40 years: Medicaid Part D, a huge subsidy to the drug industry. And he launched a “War on Terror” that has become a more or less permanent subsidy to the terror industry.
In Donald Trump, the word is made flesh; the faux conservative finds its ultimate expression.
There is no trace of conservatism in him – neither in his personal life nor in his public life… neither in his business practices (he is the “King of Debt”) nor in his programs for the U.S.
As near as we can tell (we doubt he knows himself), he has no interest in balancing the federal budget or in cutting government spending. He will continue mass surveillance of the American people. He will not curtail the welfare-state zombies nor bring the dogs of war to heel.
He does not propose to restrain government at all. He promises only to make Big Government work better – the very thing true conservatives know can’t be done.
But what really caused the collapse of conservatism in America?
Our views on the demise of conservativism are not unique to us. But our views on what caused it are. Follow the money…
More to come…
By Jeff Brown, Editor, Exponential Tech Investor
The parents of 1-year-old Layla had tried everything. All conventional treatments for Layla’s leukemia had failed. But they didn’t give up.
So they tried an experimental technology called gene editing. This is literally the stuff of science fiction. Remember how the dinosaurs were genetically engineered in Jurassic Park?
With gene editing, healthy DNA is extracted from a donor’s genome – its complete set of DNA – using “molecular scissors” (enzymes that can chop up DNA). It is then inserted into a cancer patient’s genome, essentially replacing the patient’s immune system with modified healthy cells.
This is exactly what happened with Layla at University College London. The treatment worked so well that, less than a month later, the new, healthy, “edited” immune cells had killed off all cancerous cells in her bone marrow.
That’s why one of the hottest topics right now in medical technology is a new system for gene editing called CRISPR-Cas9 (pronounced “crisper”). CRISPR-Cas9 is a tool used to edit a faulty gene and replace it with a healthy one.
George Church, a Harvard genetics professor who used CRISPR technology to splice woolly mammoth DNA into the cells of a modern elephant, talks about gene editing at TEDMED 2010.
There are a handful of very exciting companies working in this space – using gene-editing technology to cure diseases at the molecular level. And I’ve already recommended two of them to my Exponential Tech Investor readers.
The possibilities are extraordinary. Imagine cancer, Huntington’s disease, cystic fibrosis, and muscular dystrophy becoming completely curable. All are top targets for this new gene-editing technology.
P.S. I just put together an in-depth online presentation on gene editing… and how you can invest in this world-changing technology before it takes off. Watch here now.
Meet the Product That Will Replace Your Smartphone
Simplicity… ease of use… convenience… a meaningful improvement of some daily task or activity… These simple things are the hallmarks of successful technology adoptions.
Wells Fargo CEO Walks Away With $137 Million
As CEO of Wells Fargo, John Stumpf ran a hustle that saw the bank open multiple accounts in unwitting customers’ names… and then pocket the fees. He leaves the bank with a war chest totaling $137 million.
Don’t Expect Treasury Bonds to Diversify Your Portfolio
Once upon a time, investors added Treasury bonds to their portfolios to offset falling stock prices. Treasury bonds tended to go up when stocks went down… up until now.
Yesterday, Bill asked: Who still supports Trump? Today, he’s gotten some answers…
We, and many of our friends, still support Mr. Trump. We may not care for the man, but we care for what he stands for… and what he will do to the establishment elite if he gets elected. Heaven help us if he loses.
– John M.
I support TRUMP all the way. We need a conservative Supreme Court. We need a government following our Constitution and Bill of Rights. We need secure borders. We need law and order. We need a growing economy, jobs. To be blessed, we must bless Israel.
– Sharon S.
Donald Trump… warts, words, and all… is a simple choice! After a 30-year track record, the alternative in having Hillary Clinton putting the entire country over onto the Progressive Plantation and under the New World Order for the rest of our lives. This is unthinkable for those loving Freedom of Choice in the U.S.
The International folks may see it different, but the local folks are “sick and tired” of the rotted elite system that exists today in the U.S. It is time to stand up and be counted. It is either the Plantation or Freedom. I am old fashioned, and I prefer Freedom!
– Don C.
Although I agree that the election situation seems ludicrous, the American people are getting the government (and the candidates) they deserve. In the end, I care less about what Donald Trump has done than what Hillary Clinton will do.
– Michael W.
Trump is right about the Fed, our debt, crime in America, and our porous borders… to name a few. Some of which you have stated are serious issues that will cause serious problems in our country.
– Charlie S.
I still believe in Trump’s desire to make the U.S. strong again. No matter what HRC has done unlawfully (her lying, her dishonesty, her careless use of an unsecured server, her husband’s total disrespect for her and of ALL women while in the Oval Office), Trump’s childish talk in 2005 is more important to the masses (or so the media would have us believe) than her lengthy list of mistakes and schemes?
Trump has as much public office experience as George Washington did. That may sound ridiculous, but I want an outsider in the Oval Office in an attempt to do things right and untangle all the red tape. Pence is a wonderful counterbalance to Trump. I think that Trump will choose knowledgeable Cabinet members to guide him.
– Nancy L.
I know you people are smart, but some of the comments about the state of affairs leaves me puzzled. Some of us will stay here and fight if necessary because the country belongs to us. Generations of my family have fought for this land, so come and take it if you have the “courage.”
There are a bunch of us who will take a stand rather than run off to some Third World hideaway. I am a professional holster maker. I deal with a lot of DoD contractors and people you think do not exist. They are in the know… and if the wrong person is elected, times will get a lot worse.
– Rusty S.
In Case You Missed It…
Our resident tech expert Jeff Brown just released a shocking new video. In it, you’ll hear about an exciting new technology that could lead to a world without diseases.