If Bush had wanted to whip people up into an inward-looking demagogic fervor instead of an external-facing one, he clearly could have accomplished that, too.
Since 2025, MAGA ideologues have been using this alleged plot as an excuse to dismantle government programs, stifle research, intimidate American citizens, and even distort American foreign policy.
After the financial deplatforming of Western proles and foreign elites, of Canadian truckers and 145M Russians, it’s clear that digital finance is a weapon of war.
this story tells us how an increase in foreign demand to save in the US rather than at home will push up the dollar, and cause the trade deficit, which is in effect how foreigners send us factories which they would rather build here than in their own countries.
The longevity of that consensus is itself remarkable: in 79 years of data, Republican presidents spent an average of $34 billion a year on aid, while Democrats spent $40 billion.
And so my argument is, that has now opened the door to the presidency of Donald Trump, which is potentially a deeply transformative moment that will change the size and shape of government, that may change our foreign policy profoundly, that may change our immigration policy, that may change the demographics of our country, all of that, and my thesis is that that's all been made possible by inflation.
For rich countries to maintain their working-age population ratios in 2050 through permanent migration (where each worker brings one dependent), Lant Pritchett estimates they would need to become 40-50% foreign-born.
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