As the title suggests.

Trump is more of a Mercantilist. The USA and global economy is being stunted by Trade Tariffs, Protectionism, Subsidies, breaking free trade agreements, starting wars and military activity such as the Iran war and Strait of Hormuz closure.

Adam Smith would vomit if he saw the state of the USA and what he has done.

Average American citizens will suffer the most through high gas prices, food prices, high cost of living crisis. While he pockets Billions at your expense.

Applying the lessons from the Wealth of Nations book could re-direct the current trajectory of the USA.

Lmk your thoughts and opinions if you agree or disagree....

A university economics professor once failed an entire class. That class insisted that socialism works and that no one should be poor, no one rich, that everyone is equal...

The teacher told them: "OK, we'll conduct a socialism experiment in this group.

All grades will be averaged, and everyone will get the same grade, so no one fails and no one gets a 10."

After the first test, the grades were added up and divided by the number of students, and everyone got an 8.

The students who had studied hard were upset, but those who had studied less were delighted.

As the second test approached, the students who had previously studied a bit started studying even less, and those who had studied harder told themselves they wanted a "free ride" too, so they also studied less.

The average for the second test was 6.

When the third test was given, the average grade was 4. To everyone's great surprise, all the students failed.

The teacher told them that socialism will eventually fail, because when half the population realizes it doesn't have to work, because the other half will take care of them, and when the half that worked realizes there's no point in working anymore, because others are benefiting from their labor, that's the end of any nation.

This story may be a fable, not a fact, but the moral is true.

Trickle-down economics — the theory that tax cuts and deregulation for corporations and high earners will stimulate investment and benefit everyone — has been extensively debunked by modern economic research and historical data. What worked was TAX!

Just started this podcast today. While I have issues with the sound quality, the topic is really interesting—a conversation about paying fair taxes. The hosts are a journalist and a tax lawyer who predicted how the tax code would concentrate wealth into the hands of the few 30+ years ago. (He’s publishing a book on this next spring I think.)

The first episode breaks down the tiers of wealth. He describes 6 levels—the lowest being the decamillionaires ($10M to $99M) all the way to Elon Musk, the part time trillionaire (depending on what he’s doing to his stocks). Stephen Land (the tax lawyer who identified these tiers) identifies $10m as the smallest amount of wealth necessary to pay for all your needs and most of your reasonable wants (comfortable retirement, good health care, first class travel).

I’m excited for the 2nd episode which features Patriotic Millionaires (rich people who want to pay their fair share in taxes)!