Flanked by chief executives from American steel companies, he said the dumping of steel into the American market posed a threat not only to the economy but also to the military, which depends on steel for tanks, ships and planes.
“This is not an area where we can afford to be dependent on other countries,” Mr. Trump said. “We have a product where we actually need foreign countries to be nice to us in order to fight for our people. And that’s not going to happen any longer, believe me.”–New York Times, April 20, 2017
The above is the Trumper at his best. Yes, steel and its high tech composites are a defense issue. And the first goal is to make sure it is of the highest “American Quality”. Our mechanized military should have nothing but the best when they go to war. Plus material science can only advance when there is a final market for its products. The goal of the globalists was to weaken America’s defense of last resort, its heavy industry that could be converted to armaments. I would even make it mandatory that the steel industry for example have a plan for military conversion ready and updated yearly. The American people have chosen to be a militarized state; there is no backtracking now. Secondly, as my own data shows the link (r2 between military expenditures and the industrials is something like 62 percent. When you add a measure for Federal Reserve monetary policy to my model, the R-squared increased to just a shade under 80 percent of variance explained. As I’ve said, all you need to know is two things: 1) a measure for the Military-Industrial Complex, and 2) a measure that captures monetary policy of the Fed. For the latter I relied upon the price of gold, and it didn’t disappoint. That is, the flywheel of heavy armaments and the general health of this economy is tied to the military, money printing, and represents the quickest way of pump priming the economy as measured by the Nasdaq industrials. Like it or not, the military’s health is tied to our own general prosperity. Not allowing the dumping of inferior steel is totally justified on national security grounds.*
*Some data cleaning and pairwise deletions remain to be done on the data set, but I’m confident the correlations will remain robust. Examination of scatterplots indicate there are two distribution patterns for the Nasdaq Industrials and gold–i.e., the price suppression of the latter using paper future contracts, and the gold carry trade. Stop worrying about fake news, and focus upon fake Federal Reserve statistics like the price of gold.