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The 10 great Deals to save America

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A President Trump determined to rid the nation of its mutant regime of Bubble Finance at home and failed interventionism abroad would need to make 10 great deals.

(1) A Peace Deal with Putin for dismantlement of NATO, cooperation in the middle east, strangulation of ISIS by the Shiite Crescent and a comprehensive worldwide agreement to end the arms trade and pave the way for general disarmament. (2) A Jobs Deal based on slashing taxes on business and workers and replacing them with taxes on consumption and imports. (3) A Sound Money Deal to repeal Humphrey-Hawkins, end the Fed’s war on savers and cash, abolish the FOMC and limit the Fed’s remit to passively providing liquidity at a penalty spread over market interest rates based on sound commercial collateral.

(4) A Glass-Steagall Deal to break up the giant financial conglomerates, limit the Fed’s liquidity window to 'narrow banks' which only take deposits and make loans and deny deposit insurance to any banking institution involved in Wall Street trading, derivatives and other forms of financial gambling. (5) A Federalist Deal to turn back most of Washington’s domestic grant and welfare programs to the states and localities in return for a mega-block grant with a 30-year phase-out. (6) A Regulatory Deal based on an absolute 4-year freeze on every single pending regulation, and then subjecting every existing statute to strict cost-benefit rules thereafter. (7) A Liberty Deal to get Washington out of the war on drugs, criminal law enforcement and regulation of private conduct and morality.

(8) A Health Care Deal based on the repeal of Obamacare and tax preferences for employer insurance plans and their replacement with wide-open provider competition, consumer choice and individual health tax credits. (9) A Fiscal Deal to slash post-disarmament defense spending, devolve education and other domestic programs to local government and to clawback unearned social security/medicare entitlements benefits from the affluent elderly. (10) And a Governance Deal to amend the constitution to rescind Citizens United, impose term limits and establish public finance of all Federal elections.

America is fast heading toward ruin under the existing policy regime, and these 10 deals could establish the charter for a new way forward.

Read the full article at David Stockman's Contra Corner

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