Bannons War Room, Released on 7/31/24

Jim Rickards recently appeared on Bannons War Room to discuss the Trump-Vance economic plan to create high-paying jobs in the U.S.

In Jim’s own words it “Started with Alexander Hamilton. I call it the American System 2.0.”

Jim says there are two ways out of the U.S. debt crisis. “One is reduce the debt. Well, I’m not counting on that, I’m not very optimistic about that, the debt’s going to keep going up. The other one is to increase growth.”

So what is the growth plan?

Trump’s plan includes tariffs on China and other nations. Jim acknowledges that this will cause inflation. However, he says although you might get a one time bump in inflation in some things, “What you’re going to do is encourage U.S. industry and U.S. growth.”

“What Trump is really saying to the world is, hey, if you want to sell in the United States, that’s fine. But build it here. If you want to sell it here, build it here, and increase investment in the United States. Increase high paying jobs.”

This is the same thing Alexander Hamilton proposed in 1789, he says. It was given the name “The American System.” This four-part system included high tariffs, infrastructure investments, a national bank to provide liquidity as needed, and strong defense.  Abraham Lincoln and Ronald Reagan supported a similar system, as does Donald Trump.

This “American System” stands in stark contrast to the globalist approach of recent administrations, which promoted “free” trade while ignoring intellectual property theft and competitive advantages gained by other countries, particularly China. In short, the globalist system undermines U.S. interests.

“I’m very optimistic about what I call this American System 2.0… The way you get out of the debt trap… you can grow faster, and that’s the key.”

It’s an “America First” system, and that’s the point, Rickards says.

Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy.

  america first, politics, Trump, us economy, vance