The one thing we need to be concerned about most
When I lived in Paris and economic policy came up in conversation, the word “Gaullism” was uttered with disdain. Back in the 1960s, when six European nations were negotiating a unified economic and defense strategy, then Right-wing French President Charles de Gaulle proposed a doomed plan.
To this day, “The Fouchet Plan” is considered one of the greatest disasters of diplomacy in history. De Gaulle’s proposal included protectionist measures, such as tariffs on foreign goods in favor of French manufacturers. Basically, de Gaulle was only open to a unified Europe if France, “Could exercise leadership of other nations.”
That 1960s six-nation effort was a pre-cursor to today’s successful European Union. The Fouchet Plan was a portent of the economically disastrous Brexit. Contrary to Trump’s 2018 claim, “Trade Wars” are NOT easy to win. Even Mike Pence showed a basic understanding of capitalist economics, telling Treasury Secretary Bessent, “Free trade lowers the costs of goods.” On CNBC, Ontario Premier Doug Ford said, “Even the Republicans I speak to are saying, ‘This is crazy, what’s he doing?’ CEOs of the largest Fortune 500 companies are telling him, ‘Protectionism doesn’t work.’”
The media downplayed how Biden defied warnings of recession by implementing Keynesian bottom-up economics. The U.S. economy became the envy of the world, disproving once again that “Trickle-down economics” is nothing but a wealth-concentration scam. In less than two months under Trump, investors are bailing on U.S. stocks for stocks abroad.
Yet, last week, Trump had the gall to claim Biden favoring the working and middle classes over the top 1% a “fake economy.” The only fake is the 34-time convicted felon installed in the White House. Uncertainty is fatal to the economy. But one thing is certain, Republicans are economy killers and Democrats are economy saviors.
Protectionist policies are just another form of weaponized hate-driven xenophobic propaganda that the Right uses to convince its base to vote against its own best interests, in favor of the mega wealthy. Lies, hatred, and fear are the only GOP platform. Once Republican voters wake up and realize that they are being indoctrinated through misinformation, they will be as bitter as I was after realizing I was tricked into voting for Reagan.
My gravest concern is that this amoral onslaught, orchestrated by one of the most ruthless tyrants in history, Vladimir Putin, could break America’s spirit. Ruth Ben-Ghiat calls is Moral Deregulation. Russians cow to authoritarians, albeit occasionally rising up in short-lived revolts. But being in a constant state of anxiety wears one down. Hence the high alcohol consumption in Russia. But Americans must remain strong to fight against the Republican destruction of democracy. Democrats are the underdog. With nothing left to lose, that makes us powerful.
Chicago native Lorraine Evanoff earned her degree in French from DePaul University then became a Certified Financial Manager. She worked as a finance exec in film production for seven years in Paris, then in Silicon Valley during the dot-com era, and later for various Hollywood production companies, notably as CFO of National Lampoon. She is currently living in Los Angeles with her husband.