Letter Re: Trump’s Presidency: A Replay of the 1980s

JWR:

Trump is savvy. He will split the bankers if he is aggressive in eliminating Dodd Frank. Reinstatement of Glass-Steagall may also be perceived as favorable by many main street bankers as less regulation will be necessary. He will need to win over that chunk of the banking world as he has planned to go after the “Carry Trade” exemptions, which will alienate investment bankers. The FDIC is not on the investment banker side of things. I am trying to remember what it was like in the 1980s when Reagan’s policies took hold. I think it comes again. Without a doubt, the banks are “fragile”.

I just picked up six cases of rice to go with three cases of beans from the Mormons. There is crushing inflation coming. We cannot just sit in a defensive hole and survive that. – R.V.

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