mauldineconomics.com / BY JOHN MAULDIN / NOVEMBER 20, 2016
“The problems of victory are more agreeable than those of defeat, but they are no less difficult.”
– Winston Churchill
“Crying is all right in its way while it lasts. But you have to stop sooner or later, and then you still have to decide what to do.”
– C.S. Lewis, The Silver Chair
“I must have a prodigious amount of mind; it takes me as much as a week, sometimes, to make it up!”
– Mark Twain
No matter who won the presidency, the economic way forward was not going to be easy. The Republican team understands they must “stand and deliver.” But as we will see in today’s letter, that is not going to be easy. I’m going to depart from the normal format of my letters, where I talk about the economic realities we face and how we should invest, and instead offer my view of what I think the Trump administration and the GOP-led Congress should do.
Please note, this is not necessarily what they will do. In complete candor, what I’m proposing will be remarkably difficult for certain members of the Republican and Democratic Congress to countenance. It requires accepting some significant philosophical heresies that are anathema to all politicians (different heresies/anathemas for different politicians, according to their philosophical bent), but I see it as the only way forward if we want to dodge a deep recession and/or a greater crisis in the future.