The New Deal Bookend
19th February 2025
ZMan scopes it out.
The assault on the Blob has taken up most of the attention in Washington, along with the reproachment with Russia, but the biggest item on the Trump agenda is the restructuring of the American economy. If you listen to what Trump says when asked about what has been happening thus far, it often circles back to the economy and how he imagines it to be after his changes. The thing is no one in the media follows up on it so Trump is never asked about that end goal.
There were some hints in the Russia coverage. One of the participants from the Russian side was the head of their sovereign wealth fund. This is something Trump has said he wants to create for the American government. A sovereign investment fund is a state-owned investment fund that does the same things a private investment fund, except it also has an eye on policy. A sovereign wealth fund acts as an additional level in both foreign and domestic policy.
This is not a thing you typically see in the West, as the Western economic model is built on the assumption that the government should not meddle in markets. This is a big lie, of course, as Western governments regulate everything. The thing is the regulations are dictated by the market makers through the miracle of regulatory capture, so the political class has limited control of the regulations. A sovereign wealth fund would put the political class on an even footing with the market makers.