Trump wedges us all with Glass-Steagall

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You just never know who is going to back what these days do you? From Bloomie comes new Trump policies:

“We need better negotiated trade agreements that put America first,” the platform said. “Republicans understand that you can succeed in a negotiation only if you are willing to walk away form it.”

Trump has been a vocal critic of trade deals such as the TPP and the North American Free Trade Agreement, saying they have cost U.S. jobs and should be renegotiated. His stance has pitted him against some party stalwarts and pro-business groups such as the U.S. Chamber of Commerce.

“We support reinstating the Glass-Steagall Act of 1933 which prohibits commercial banks from engaging in high-risk investment,” said the platform released by the Republican National Committee.

“We are supporting the small banks and Main Street. We talk about legislation that affects, you know, some of the mistakes made in repealing Glass-Steagall and some of the mistakes made in imposing Dodd-Frank. The platform reflects those things,” Manafort said.

Marriage between one man and one woman “is the foundation for a free society and has for millennia been entrusted with rearing children and instilling cultural values,” the platform says in a confrontation of a contentious social issue that some younger members of the party see as counterproductive to expanding the GOP’s reach.

…Addressing abortion, the platform said, “We assert the sanctity of human life and affirm that the unborn child has a fundamental right to life which cannot be infringed. We support a human life amendment to the Constitution and legislation to make clear that the Fourteenth Amendment’s protections apply to children before birth.”

…”The United States seeks to assist in the establishment of comprehensive and lasting peace in the Middle East, to be negotiated among those living in the region,” it says. “We oppose any measures intended to impose an agreement or to dictate borders or other terms, and call for immediate termination of all U.S. funding of any entity that attempts to do so. Our party is proud to stand with Israel now and always.”

Fabulous to see Glass-Steagall back even if the rest is off the reservation.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.