Summary
Robert Reich argues that Wall Street, not political or institutional checks, will be the primary constraint on Donald Trump’s upcoming presidency.
While Trump’s cabinet includes disruptive figures like RFK Jr. and Pete Hegseth, his pick for Treasury Secretary, Scott Bessent, a hedge fund manager tied to Wall Street, signals an intent to reassure financial markets.
Wall Street’s fear of inflation and stock market instability could curb Trump’s tariff plans, despite their populist appeal.
Ultimately, Reich criticizes the reliance on markets, rather than democratic mechanisms, to limit Trump’s power.
AMA request: Someone who genuinely believes that Trump’s cabinet will be anti-Wall Street.
I believe his (and Putin’s) goal is to destabilize (destroy) the western order, devalue the current global currency (USD), crash the central banks, fully shift economic power eastward, inflate crypto.
Tariffs on all north American trading partners will cause harm to the entire continent and beyond.
If none can trade, none can profit. If the tarrifs go to gov, with this admin, will they really?
The only thing pro wall street will be how they siphon off whatever wealth is left, pump and dump, crash and burn.
Trump has no goal other then self gratification and being the center of attention. Putin’s goal is to destabilize the US and he’s doing that by supporting Trump.
Paradoxically Trump only cares about cash of which I imagine is American currency. So confusing.