Episode 45 April 13, 2020.

CLP Topic Category: Economic Collapse.

 U. S. National Covid Economic Collapse and the Collapse of the U. S. Dollar.

Our podcast today is titled, U. S. National Covid Economic Collapse and the Collapse of the U. S. Dollar.

This podcast audio and text is just the introduction to a much longer article, available at the clpnewsnetwork.com. 

The other sections of the longer article are: 

Section 1. The Origins of the Economic Collapse.

Section 2. The Collapse of the National GDP.

Section 3. The Effect of the GDP Collapse on the U. S. Dollar as International Reserve Currency.

Section 4. The Collapse of the U. S. Dollar.

Section 5. Trump’s Economic Goals for Economic Growth. 

The full audio and text of this podcast is available for free, for one week. The entire historical archive of all CLP podcasts is available for an annual subscription of $30.

Introduction: How The Covid Political Public Relations Panic Damaged the U. S. Economy.

Our podcast extends the analysis of Angelo Codevilla about the economic effect of Trump’s initial March 15, 2020,  “15 days to stop the spread,” decision  to shut the U. S. economy down, and his subsequent decision to shut the nation’s economy down for an additional 30 days, on March 30, 2020.

In his article, “Is the President Forgetting Politics 101?” Codevilla combines a political analysis with an economic analysis in order to describe President Trump’s decision to shut the U. S. economy down.

Codevilla’s analysis begins with the identification of an American “ruling class” that is at war with President Trump’s effort to defend the sovereign national economic interest. 

The ruling class wants globalism, not Trump’s economic nationalism. 

Codevilla writes, 

“The ruling class savors the grip on us that it has achieved during the past three weeks—above all the presumption that we must quietly accept non-legal decrees from on high. It will not give up that grip without a fight. President Trump has placed himself on a path that leads to political suicide. He did this by surrendering to the ruling class—Drs. Anthony Fauci, Deborah Birx, et al, not to mention House Speaker Nancy Pelosi, his judgment on whether and for how long, the country should be shut down.” 

We extend Codevilla’s analysis of the ruling class to include their motivation to damage Trump, politically. Trump had been having campaign rallies where he touted the stock market and economic growth as benefitting working class Americans.

It was imperative for the political forces who hate Trump to take those two issues away from him.

TABLE B-56. Common stock prices and yields, 2000-2019 

The Dow Jones increased from 24,719, in 2017, to 28,538, at the end of 2019.

The GDP was increasing at an average annual growth rate of 3%. 

TABLE 8-9. Real gross domestic product by industry, value added, and percent changes, 1997-2018 

After the ruling class unleashed the fear panic, the Dow Jones dropped to a low around 18,000, and GDP is expected to decline about 35% by the end of 2020.

The ruling class used the public relaltions panic of Covid to destroy Trump’s two main political issues, and the damage to the economy, via shutting the economy down, was collateral damage to their main goal of damaging Trump.

As Bill Gates also suggested, banning large public gatherings, such as Trump rallies, may also be a good idea to stop the spread and flatten the curve.

Prior to the Covid panic, the ruling class had already damaged the economic structure of America with its political promotion of disastrous trade deals. 

The trade deals caused the American economy to bifurcate into a component of big companies that benefit from global trade, and the rest of the economy that is not connected to global markets. 

After the economy split into two parts, the labor market shifted from a diversified job structure to a job structure where 80% of all jobs were in the service sector. 

The ruling class had soothingly murmured, in 1992, that the