Donald Trump began his inaugural address by declaring that “the Golden Age of America has only just begun.” One hundred days later, “golden” in no way applies to the state of the country, the economy in particular.

“Chaotic,” “recession,” “headwinds,” and “stagflation” are far more apt and common characterizations of the Trump economy. And those terms may describe the best case scenario. As the New York Times reported:

“What now looms large are uncomfortable questions about what happens if the international community starts to lose faith in the dollar and other U.S. assets, something that economists warn would be costly for Americans.”

Worse than a recession, we could be heading toward a permanent downgrade in U.S. economic fortunes if the world’s investors dump dollars and U.S. debt. The Atlantic’s Annie Lowrey explains: “Stocks, bonds, and the dollar are declining in tandem. The United States’ hegemony over the financial markets is at stake.”

With the loss of confidence in American stability (that Trump has provoked) comes a declining dollar, higher interest rates, weaker growth, reduced earnings, more expensive imports, and a lower standard of living for Americans. Bloomberg warns: “With the US’s economic prospects waning, free movement of capital is becoming an Achilles’ heel as investors of all stripes start to flee US assets.” On top of that, the U.S. becomes “weaker in international negotiations, and less capable of sanctioning terrorists and drug cartels.”

Make America Weak Again.

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