Michael Roberts on the US elections and economic perspectives.
The mid-term Congressional elections saw a swing to the opposition Democrats in the Lower House and the Republicans were ousted as the majority party. This is a blow to President Trump who mounted a campaign based on fear of immigrant caravans flooding into the US from Latin America and supposed rising crime provoked by the Democrats. This line of attack did not work. But the perceived strong US economy seems to have had the effect of consolidating Trump’s position in the Senate. There the Republicans gained seats. Losing control of the lower house means that any further tax and financial handouts to big business and the rich are likely to be curtailed. But as the Republicans increased their hold on the Senate,Trump can expect to continue with his wild foreign policy outbursts and his ‘trade war’ with China.
Although there are more ‘progressive’, Sanders-type Democrats elected to Congress, the Democrat…
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