Trump Flips On Five Core Campaign Promises In Under 24 Hours

Tyler Durden's picture

Blink, and you missed Trump's blistering, seamless transformation into a mainstream politician.

In the span of just a few hours, President Trump flipped to new positions on several core policy issues, backing off on no less than five repeated campaign promises.

In a WSJ interview and a subsequent press conference, Trump either shifted or completely reversed positions on a number of foreign and economic policy decisions, including the fate of the US Dollar, how to handle China and the future of the chair of the Federal Reserve.

Goodbye strong dollar and high interest rates

In an announcement that rocked currency markets, Trump told the WSJ that the U.S. dollar “is getting too strong” and he would prefer the Federal Reserve keep interest rates low.  “I do like a low-interest rate policy, I must be honest with you,” Mr. Trump said. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But that’s hurting—that will hurt ultimately,” he added. “Look, there’s some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good.”

Trump then said the one thing that every other currency manipulator realizes all too well: “It’s very, very hard to compete when you have a strong dollar and other countries are devaluing their currency.

During his campaign Trump had repeatedly said that a "strong dollar" policy would be beneficial for the US economy, despite our repeat warnings that he will inevitably reverse on this, especially if and when the "Goldman" circle of advisors starts providing macroconomic advice.

It is unclear if the shift in Trump's policy will mean that US economic data will now "mysteriously" begin to deteriorate to justify not only his request for a weaker dollar, but to also hit the breaks on Yellen's plans for further rate hikes over the next 2-3 years. In any case, the debate over the Fed's balance sheet unwind, and the trajectory of Fed hikes, is now on indefinite hiatus. 

The biggest loser here, again, are America's savers who may have been hoping that their bank deposits will finally earn some interest.

As for the most notable outcome from this Trump statement, is that it counters his "desire" for a weaker dollar with the Fed's tightening bias. Will fireworks fly as Trump realizes that Yellen's actions are prompting the strong dollar? Stay tuned for what may be the most entertaining clash yet: Trump vs Yellen.

* * *

Labeling China a currency manipulator

Trump also told the Wall Street Journal that China is not artificially deflating the value of its currency, a big change after he repeatedly pledged during his campaign to label the country a currency manipulator.

"They’re not currency manipulators," the president said, adding that China hasn’t been manipulating its currency for months, and that he feared derailing U.S.-China talks to crack down on North Korea. Trump routinely criticized President Obama for not labeling China a currency manipulator, and promised during the campaign to do so on day one of his administration.

Trump's declaration also means that Peter Navarro may as well pack his bags, as the Goldman economic advisory team has now won its contest with the "Bannon nationalist" circle.

* * *

Yellen's future

Trump also told the Journal he’d consider re-nominating Yellen to chair the Fed's board of governors, after attacking her during his campaign." I like her. I respect her,” Trump said, “It’s very early.”

Trump called Yellen “obviously political” in September and accused her of keeping interest rates low to boost the stock market and make Obama look good. “As soon as [rates] go up, your stock market is going to go way down, most likely,” Trump said. "Or possibly.”

* * *

Export-Import Bank

Trump also voiced support behind the Export-Import Bank, which helps subsidize some U.S. exports, after opposing it during the campaign.

“It turns out that, first of all, lots of small companies are really helped, the vendor companies,” Trump told the Journal. “Instinctively, you would say, ‘Isn’t that a ridiculous thing,’ but actually, it’s a very good thing. And it actually makes money, it could make a lot of money.”

Trump’s support will anger conservative opponents of the bank, who say it enables crony capitalism.

* * *

NATO

Finally, Trump said NATO is "no longer obsolete" during a Wednesday press conference with NATO Secretary General Jens Stoltenberg, backtracking on his past criticism of the alliance. During the campaign, he frequently called the organization "obsolete," saying did little to crack down on terrorism and that its other members don’t pay their “fair share.”

“I said it was obsolete. It is no longer obsolete," the president said Wednesday.

Trump has gradually become more supportive of NATO after it ramped up efforts to increase U.S. and European intelligence sharing regarding terrorism. Trump still insisted that NATO allies “meet their financial obligations and pay what they owe.” He said he discussed with Stoltenberg his desire that allies put 2 percent of their gross domestic products into defense by 2024.

* * *

Add to this Trump's first, most prominent reversal, the launch of air strikes on Syria last Friday after repeatedly bashing Obama for even considering that, and Trump's transformation into a mainstream politician now appears complete.

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soulcalibur's picture

Getting more passed by the day. maybe I just don't get 4D chess

Laowei Gweilo's picture

so, US bombs NK alone?

or US compromises with China, and China helps with NK

 

i mean, i'm fucking livid about Syria

flip flip piece of shit

 

but you gotta be able to compromise on some shit IF it means getting other shit done, and labeling china a manipulator is mostly symbolic anyhow

 

if ditching the label helps get more business for US farmers (e.g. China just lifted tarifs on US beefs this week)

or gets China to help with NK so US can stop going it along as world police

seems it could be OK

DeadFred's picture

A. An evil doppelganger was substituted for the real Donald

B The witches who have been casting spells on him each month have succeeded

C He's really, really smart and playing a brilliant long game

I'm fingers crossed for choice C but a more than a bit worried.

Gaius Frakkin' Baltar's picture

So when does amnesty come back to the table?

I imagine this being part of the bill that funds the wall that's never built.

 

SMG's picture

FUCK YOU TRUMP! YOU LYING BASTARD!

ParticularlyStupidHumanoid's picture

:^)

#MAGA

If you don't love our president then GET THE FUCK OUT!

knukles's picture

Kinda well maybe somewhat but not really because he's a misogynist.  Other than that, it's OK.
Why does it all of a sudden seem like we the people are once again sucking on the hairy end of the lollipop?

nmewn's picture

Make lollipops great again! 

BaBaBouy's picture

MEET THE NEW BOSS... SAME AS THE OLD BOSS...
Da Da Da &&&

PrayingMantis's picture

... Trumpsformer : More than meets the eye ...

vato poco's picture

BHO last-minute EPA regs (and other assorted bullshit) ... is dead.

TransPacific Trade ... is dead. 

Global Warming Bullshit Scam ... is dead. 

Pipelines are back. 

Dems, while loudly squealing "unity, comrades", in possibly terminal disarray.

Clinton Crime Family & Foundation ...mostly shut down; possibly mortally wounded.

Soros on the run in Hungary, other countries to follow.

Still taking bids & specs on The Wall.

Scalia replaced with Gorsuch, not Obama.

I'm not seeing an unending litany of back-stabbings and failure here. Could Trump be doing more, faster? Yeah. Has he gone light years above & beyond what Yeb! or rubio or ANY OTHER machine republican would have done, much less the Klinton Kunt?

yeah.

vato poco's picture

hmmm. guess I done struck a nerve. I was right: ZH commenters really HAVE changed for the worse. Once were brilliant individualists- now just a gaggle of whiny crybaby pussies & Soros/spammer trolls. so fuck ya then.

bitchez.

Billy the Poet's picture

The Clintons are good people and you don't want to hurt them. Got it.

shivura's picture

you guys know Trump was a Soros/globalist plant all along. the mission was to destroy the right wing from the inside and all you dumbasses fell for it. Next step in the master plan is the economy tanking/Trump not doing shit to save it and guess what rises from the ashes?

SOCIALISM BITCHEZ!!

can't believe all you pathetic shit for brains thought Trump was a good idea, "fuckng 10 steps ahead of everyone.". why dyou think Obama sat on the Russian shit while Comey went forward with half-ass server bullshit?

YOU CHUMPS GOT PLAYED

Hillary would never have gotten anything done with the fucking monkey clown congress, 2018 would see GOP supermajorities and the type of fascist your kind would elect in 2020 would truly get the things done you want: kill homos, blacks, etc.... sorry, but soon you'll get to do that shit in VR, don't worry, and leave the RW to people that care about it you heartless, idiotic, dumbfucks...

Billy the Poet's picture

You're very passionate for a stupid bastard.

The_Juggernaut's picture

Most ZH people are turning on Trump because he made Putin look like a little bitch, that's all.

Billy the Poet's picture

I don't see how Trump's blunder could have made Putin look bad.

The_Juggernaut's picture

Right.  Putin's been sucking up to China and Trump slapped him right across the face while Xi was in town.  The two of them probably shared a good laugh about it, too, and what did Putin do about it?  Exactly what he can do, he issued a weak warning and probably took a few shirtless photos to feel better about himself.  Don't get me wrong, I like Vlad Putin but Trump fucking ruined him.

Guderian's picture

They don't come any more naive and delusional than you, do they?

winged's picture

Agree. He has no clue about the real reason for the conflict with Russia.

http://biblicisminstitute.wordpress.com/2015/03/17/the-truth-about-the-c...

stizazz's picture

“As soon as [rates] go up, your stock market is going to go way down, most likely,” Trump said. "Or possibly.”

Most likely, possibly, blah, blah, blah.

The US is in deep shit with Trump.

HowdyDoody's picture

And Team Chump, via Tillerson, is still insisting 'Assad must go' except it should now be 'organized'.

Beware the curse of 'Assad must go'

http://starecat.com/content/wp-content/uploads/assad-must-go-curse-polit...

SubjectivObject's picture

The upper echelons want something to do, anything.  Catch that cash wave.  Go along to get along.

The rear echelons, not so much.  Your military is a hollow principle, but, hopefully, it will get you killed also.

Ace Ventura's picture

How you're repeatedly arriving at this conclusion is beyond baffling. The only thing that appears to have been ruined here is Trump. Colossal betrayal of his base, while breaking all form of records for most promises broken in a given period.

The only thing of Vlad's that's ruined is his underwear....from laughing so hard he pissed himself.

SomebodySpecial's picture

At the least when you post...you should upvote you-self. Can't believe you had zero up-votes so I fixed it for you!

Wise up...

Carl Spackler's picture

Putin is a small tool of a small nation (see population and demographics....old people with rapidly declining population ).

Under Obama, Putin has fear. That's now gone.

All Putin has left is nuclear weapons. No other leverage, gas and oil are plentiful and cheap.

manofthenorth's picture

"small tool of a small nation"

Ever look at a map ??

HowdyDoody's picture

Sure, that is why Nutty Yahoo makes desperate attempts to get time with Putin in Moscow. Maybe he wants to give Putin a personal presentation over the 'Iranian threat'.

http://4.bp.blogspot.com/-Cfo4liP8xyE/VO-9cv6jSTI/AAAAAAAAt8U/gbcf7DEjj-...

TeamDepends's picture

Only one problem with that, the commies failed miserably in their attempts to disarm us. And Trump CAN NOT go there, else he'll be toast before sunrise. Oh, and none of us want to kill homos and blacks-put down the dailykos for Gods' sake!

Heywood Jaeatme's picture

Well don't look at me, I voted for Gary Johnson

PTR's picture

Shoot. I wrote in "None of the Above" for the first time in 7 presidential cycles.

Just 'cause you never know.

God bless you for having the fortitude to vote for Johnson.

Semi-employed White Guy's picture

That's not something I'd be bragging about.

FlKeysFisherman's picture

"you guys know Trump was a Soros/globalist plant all along."

 

Sure and only you were intelligent enough to figure it all out. I suppose Martha Raddatz spent several months under the tuteladge of Cate Blanchett so her on air meltdowns would be convincing.

Those dastardly globalists sure are thorough.

Sam.Spade's picture

I don't think that is fair.  I believe Trump was what he seemed to be when we elected him.

But the meat-grinder will kill any man.  Even the best.

I have a friend who argues that every President-elect since Carter has had an 'Ah-OK' meeting behind closed doors with the top members of the Secret Service.  That's where they show him a movie of Kennedy being shot, taken from the Grassy Knoll at the moment his head explodes.

Those men all had family, so they all got the point.  

Wouldn't you?

Trump only proves that TPTB are unstoppable from within.  He only proves what we should have already known:

If we want our freedom back, we must retake it with our own hands.

But how?  When the government knows everything we do or say?  When they know if we own firearms, or wealth, not to mention, where we go, who we talk to, and even what we say?

Until this century, the answer was always pretty negative.  But now, thanks to the Internet, that has changed.  Because cyberspace is a double-edged sword.  True, all our searches, all our Facebook thoughts, all our browsing history is now known by The Deep State if we allow it.

But the key phrase is '...if we allow it.'  Because we don't have to.  Instead, we can hide on-line.  We can choose to become anonymous.

Don't believe it?  Then ask yourself why we still have spam.  Or database hacks.  Or ransomware. Or on-line pedophilia

The Internet is the most complex and sophisticated machine mankind has ever created.  By far.  And no one really knows how it works.  Or where the dark corners are.

Those are the places we must learn to hide.  To organize in and strike back from.

Those are the shelters we must use to regaining our freedom.

Thieves Emporium is a primer on this subject delivered in the form of a fast-paced novel to keep you reading it.

Some have called it a blueprint for rebellion.  Others think it is 1984 written for the digital age.

The Daily Anarchist loved it and called it 'Barely Fiction'.  The editors of The Daily Bell thought it was so good they ran it as a serial which you can still read on-line for free.

Or you can buy a copy, cheap, from Amazon (rated 4.6 in 118 reviews), Nook (Also 4.6, though without so many reviews), Smashwords (ditto), or iBooks.

But whatever you do, Trump has proven one thing to us all.  You must now plan to act on your own, to empower yourself by learning to fight back anonymously, or you must learn to suck jackboot and consign your children to be digital serfs forever.

Your choice.  But you must make it now.

http://www.thedailybell.com/editorials/max-hernandez-introducing-thieves...

https://www.amazon.com/Thieves-Emporium-Max-Hernandez-ebook/dp/B00CWWWRK0

 

Zorba's idea's picture

My modest proposal is some April 18th in the near future 100 million american taxpayers refuse too mail it in to the FED's. A unified FUCK YOU! Unless and until average american citizens stop feading the beast nothing will change...ever. CONgressional whores aren't going to fix shit, potus's aren't going to fix shit, the american "cororatized" justice system isn't going to fix shit. Then and only then can we begin to recover the lost Republic.

Sam.Spade's picture

A good idea, except for two points. 

First:  Decisions are always made along the margins.  All the IRS has to do to break such a protest is pick the most prominent member and throw him in jail.  Then repeat with the second on the list.  Continue until the rest give up.  Call it the Wesley Snipes defence.

Second:  The purpose of taxes in our country isn't to raise money for the government.  That is done using the printing press.  Rather, the objective is to impoverish the masses.  Those with wealth (what used to be called the 'middle class') have power and can resist.  Those subsisting on food stamps do not.  Taxes are the way the government converts the former into the latter.

detached.amusement's picture

that very reason is why the illegal and unconstitutional withholding bullshit exists, because they know nobody would pay

GadExp's picture

Bad proposal. 

 

Better proposal is to never send them another dime again.

 

losthorizons.com

shivura's picture

You're very passionate for a stupid bastard.

Sam.Spade's picture

And you are very stupid for a passionate one.

beemasters's picture

"I have a friend who argues that every President-elect since Carter has had an 'Ah-OK' meeting behind closed doors with the top members of the Secret Service. That's where they show him a movie of Kennedy being shot, taken from the Grassy Knoll at the moment his head explodes."

You don't believe that for a second, do you? Twitter is now mightier than the Secret Service. Trump knows that. Besides, if he was clean, he would rather quit than to sell his soul to the Darkside. He is a liar and has been from the start. Just look at his calling the Clintons "good people" shortly after election.

Sam.Spade's picture

If power were definable by only one single metric, you might be right.  But it is independently:  the control of communications, the control of violence, and the control of money.  Each is completely different from the other.

Thieves Emporium makes this pretty clear, I suggest you go to the free web site and start reading it.

francis_the_wonder_hamster's picture

I'm one of your upvotes because, yes, most of your points are positives (I'm not convinced Trump won't flip flop on Global Warming Alarmism as he's never understood the issue).

That said, he most certainly is flip-flopping on other issues, but more importantly, he was a symbol to the rest of the world that the Globalists could be beaten.  Now that he's joining them, he makes the battles of the Le Pen's of the world more difficult.

As a Libertarian, I'm not surprised as he represented some of our policies without having the ethical foundation that these ideals come from.

BTFDemocracy's picture

vato poco -- ... and I thought it was just me who thought that

spiral galaxy's picture

Dead on! The site has been infested with Soros & prog trolls. And the speed and number of up arrows appear for the prog drivel is astounding! Makes one wonder if Tyler hasn't sold out to Yahoo, etc.

valjoux7750's picture

Agreed, I've only been a member for about a year and a half and in the past month or two I does seem that the flakes have worked their way in here bigly.

SomebodySpecial's picture

I used to live in Hawaii.

They had a saying for the the white people that "moved in" then said

It's getting too crowded (now that I'm here)

I don't remember what the saying was!

Maybe " the last Halle"