The Trump Disaster Plan

Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

“Will an unapologetic Trump instead now escalate his slurs, bray at the moon, play out his current angry Ajax role to the bitter end, and thus himself end up a tragic hero — appreciated for past service but deemed too toxic for present company?” — Victor Davis Hanson

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Earlier this year I sent out a promotion for my newsletter called “The Biden Disaster,” referring to the growing problems America faces — double-digit-percentage inflation, excessive regulation, higher taxes and a bear market on Wall Street.

In the past week, we have seen another alarming trend unfolding, what I call “The Trump Disaster Plan.”

President Trump endorsed weak, and often extreme, candidates to gain control of the Senate. So far, not a single Republican endorsed by Trump has won a seat held by an incumbent — in Georgia, Pennsylvania, Arizona, or Nevada. As a result, the Senate will remain in the hands of the Democrats.

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All’s fair in love and war… and politics. Many of my Republican friends are crying foul and “voter fraud” once again by the Democrats, but they only have themselves to blame.

For example, in the key state of Nevada, Adam Laxalt lost by several thousand votes, giving the Senate to the Democrats. Yet, only 63% of registered Republicans voted on Nov. 8… 14 points lower than the 77% turnout in the 2020 presidential election.

That means that 138,000 active registered Republicans stayed home on Tuesday and didn’t vote.

Get the picture? The Republicans need to stop blaming the Democrats and take a look at themselves in the mirror.

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A Silver Lining in the Silver State

But there is good news! The man who shut down Las Vegas for over a year and closed down FreedomFest in 2020 two weeks before our conference, costing us hundreds of thousands of dollars in losses, won’t be coming back.

That’s right, folks, Nevada Governor Steve Sisolak has been defeated by Republican Joe Lombardo, the former police chief of Clark County. The people of Nevada had the good sense to punish the dictator who destroyed thousands of small businesses and jobs in Nevada. We look forward to returning to a free Las Vegas (after our conference in Memphis next July 12-15, 2023).

Too bad the good people of California didn’t do the same to Governor Nuisance (Newsom).

Good News on Wall Street: Republicans Take the House

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But not all is lost. Republicans can put up great candidates, such as Governor Ron DeSantis in Florida, Governor Chris Sununu in New Hampshire and Senator Rand Paul in Kentucky.

And the House will now be controlled by the Republicans, which will help to block any radical proposals by the Biden administration. This is good news for the stock market, as investors are looking forward to “no changes” in fiscal policy for the next two years.

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Monetary policy is still a question mark. If price inflation comes down, and the Fed backs off its aggressive tight-money policy, the stock market could soar.

Are the Republicans on Their Way to Losing Again in 2024?

It’s time for Trump to see the writing on the wall and learn a lesson from one of his heroes, General Douglas MacArthur, who considered running for the highest office in the land but ultimately decided to retire and write his memoirs: “Old soldiers never die, they just fade away.”

Trump had his day in the sun. He was popular back in 2016. Many Americans liked his irreverent and brash style.

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In many ways, he reminds me of Jerry Brown, who, in the 1970s, became governor of California because he refused to move into the governor’s mansion and played the role of a humble public servant.

But eventually, his public persona became old hat, and voters tired of his routine.

The same has happened to Donald Trump. If he had been smart, he would have switched personalities when was the 45th president. If he had acted presidential during that time, he would have easily won re-election. Instead, he continued his “narcissism, lack of self-control, abusive treatment of advisers, his puerile vendettas,” to quote the Wall Street Journal. 

Jerry Brown did change his persona and went on to become governor again in California from 2011-19.

Unfortunately, Trump has yet to change his stripes and has acted like a spoiled child since he lost re-election in 2020.

The Danger of Blind Ambition

And now, he’s doubling down by running again and, like the emperor with no clothes, is unable to see the disaster he is creating for the Republican Party.

The Democrats are elated, knowing that Trump is the most vulnerable candidate for president, and will energize the Democratic base in 2024.

Wisely, more and more Republican leaders and even former members of the Trump cabinet are turning their backs on Mr. Trump, including his own Vice President Mike Pence. Even historian Victor Davis Hanson, who authored the book “The Case for Trump,” has recognized the former president’s fatal flaws. (See quote above.)

The Future Belongs to Florida and Governor DeSantis

On a national scale, the Republicans can also cheer the reelection of Governor Ron DeSantis, who won an overwhelming victory on Tuesday night.

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Under his leadership, Florida changed its voting process so that Florida officials start counting absentee and mail-in ballots 22 days in advance of the election. As a result, almost all election results were announced on Tuesday night. Hopefully, other states will follow Florida’s lead.

Let’s hope the Republicans learn from Tuesday’s results: The future belongs to the winners (Ron DeSantis), not the losers (Donald Trump).

Trump needs to fade away and make room for a new generation. In my opinion, the future belongs to this man (the front-runner):

The question is, are Republicans smart enough to recognize the purple Kool-Aid that Trump is offering, or will they remain “the stupid party”?

Steve Forbes Endorses My Wife’s Book

Attention, Bible lovers! A new edition of my wife Jo Ann’s unique book, “Matriarchs of the Messiah,” has just been released with a full index in the back. It features the stories of the valiant women who are direct ancestors of Jesus Christ, including chapters on Eve, Sarah, Ruth, the wife of Noah (never identified by name), Mary, the mother of Christ and a couple of controversial figures, such as Rahab and Bathsheba.

The Bible is not just the story of the God of Abraham, Isaac and Jacob, but of Sarah, Rebecca and Leah as well!

Steve Forbes is a big fan of Jo Ann’s book. He writes: “Believers and nonbelievers alike will be fascinated and inspired by the women whose stories are skillfully told here by Jo Ann Skousen. Their trials, triumphs, strengths and shortcomings will speak to both women and men today. Skousen’s knowledge of the times in which they lived is particularly impressive.”

“Matriarchs” makes a great holiday gift. The price is only $20 and is autographed by the author. We pay postage if mailed in the United States. Go to www.skousenbooks.com.

Upcoming Appearances: This Saturday AAII Meeting in Raleigh, North Carolina

I’ll be speaking at the American Association of Individual Investors (AAII) this Saturday, Nov. 19, at 10 a.m. at the Jaycee Community Center in Raleigh, on the topic “My Favorite Investments Now that the Mid-Term Elections are Over.” My subscribers are invited. To reserve a spot, contact Carl Broadhurst, Program Chair, AAII – Research Triangle, at cbroadhur@aol.com. The price is $7 at the door. If you can’t make it, it will also be video recorded on Zoom. See you there!

Good investing, AEIOU,

Mark Skousen

You Nailed it!

How to Live Long and Prosper: 75 Years and Going Strong 

“Life should be exciting, inspiring and adventuresome.” — Elon Musk

Last week, I had the pleasure of speaking with Elon Musk, the CEO of Tesla and SpaceX, and the world’s richest man. You can read my report here: My Encounter with Elon Musk, the World’s Richest Man – Mark Skousen.

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During his presentation, he expressed enthusiasm about his life, despite its many challenges and criticisms. “Life,” he said, “should be exciting, inspiring and adventuresome.”

I feel the same way about celebrating going around the sun for three-quarters of a century! I feel a little bit like Benjamin Franklin, my ancestor, who wrote a friend:

“People who live long drink of the cup of life to the very bottom and must expect to meet with some of the usual dregs; and when I reflect on the number of terrible maladies human nature is subject to, I think myself favored in having only three incurable ones that have fallen to my share, viz., the gout, the stone, and old age; and that these have not yet deprived me of my natural cheerfulness, my delight in books and enjoyment of social conversation. There are many sorrows in this life, but we must not blame Providence inconsiderately, for there are many more pleasures. This is why I love life.”

I was interviewed on Addison Wiggins’ show “The Wiggins Session” on my birthday, Oct. 19, and reflected on my long and successful career. It starts off with a nice summary of gross output (GO), my major contribution to economics. Go here to watch it!

Addison states, “Mark and I have been colleagues for a long time; he is among the closest people to a living Milton Friedman as you can get.”

“In this session,” Addison adds, “we talk about:

  • A Fed pivot — or lack thereof — and the struggle to find sound fiscal policy…
  • Gross Output (GO), Mark’s breakthrough measure of total spending in the economy and the ‘top line’ in national income accounting.
  • Sing Sing… or teaching economics to prisoners (there is a lot to learn from the imprisoned, the extended metaphor does not escape me).
  • The Mt. Pelerin Society — 36 scholars invited by Professor Friedrich Hayek to meet at Mont Pelerin near Montreux, Switzerland, to discuss the state and the possible fate of liberalism (in its classical economic sense) in thinking and practice in 1947.
  • The success of his annual conference FreedomFest, and its impact on the freedom movement.”

As we celebrate the Thanksgiving holiday next week, I have much to be thankful for, including a wonderful wife and family, and great opportunities to teach, speak, write and travel in a world of advanced technology and much freedom. And most importantly, good health, for which I thank the good Lord. AEIOU!

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