• Business travel will be rethought • Technology will transform education in the future • Unemployment will be downwardly resistant. • Businesses will right-size again
OK, so we need to educate our ruling class on the basics of economics. We all know those principles, because we live them everyday. We know that we have to have positive cash flow if we are to be able to stay ahead of the game. We demand that of our state and local governments by making sure there are requirements that those governments must balance their budgets every year. There are no chances for those levels of government to continue spending over and above what is available in the revenue that is coming in.
President Trump was right. He was right in the 1980s, the 90s, the 00s, the 10s and today
Our national government is not so constrained. They can continue to print money that devalues the money you and I are trying to save. Subsequently, we must give some of that back to that central government by way of taxes. What a racket!!
And what about China? OMG. They give us the Coronavirus and then we find out they own a trillion dollars of our debt. What were we thinking? You know, President Trump was right. He was right in the 1980s, the 90s, the 00s, the 10s and today. He has been saying it for forty years! As I have said before, we have been in a trade war for forty years and now we have someone who is fighting back.
Things are going to be different in America going forward. Some things are good and some not so good:
Businesses will right-size again. Telecommuting will be quite different going forward. Many will abuse the privilege, but the work will get done, and people will be doing a lot more and will be more productive.
Unemployment will be downwardly resistant. We will not see a rebound there for many months, maybe years. The reason is that companies will have to hit the reset button, and while many will go under, many more will start up and find ways to find niches that weren’t there before.
Business travel will be rethought
Business travel will be rethought. Many enterprises will find that they got along just fine doing teleconferences and such. Likewise, many of the mega-conferences will be rethought, as well. Many of these things may come back, but it will be years before some make it. Air travel will likely go down, as well. The airlines may come back, but I am suspicious about seeing a big rebound.
Technology will transform education in the future. Many small colleges with small endowments may collapse over the next several years. Lines of credit will likely dry up. Many will likely shutter while others will merge with other institutions. We are already seeing this happen. Public institutions will likely have to cut majors, programs and facility improvements. The tuition will not be there and the students will likely find other means of getting their education.
Parents who are having to stay at home are finding out what is being taught to their children, and many of them are outraged at the curriculum content they are seeing. I cannot tell you how many of the nurses who have stopped by to see me to ask me about what is going on in K12 education. I simply tell them that this is what they get for not confronting their school boards over the common core curriculum. Thank you William Ayers, Howard Zinn and two generations of parents who have been educated this way. We don’t teach civics anymore, we don’t go to school board meetings and we don’t pay attention to what our kids are being taught. I suspect there will be a lot more home schooling going on in the near future.
Still, I am optimistic about the future. We will come roaring back with the afterburners lit.
Sam Clovis was raised in Kansas and attended the United States Air Force Academy, serving for 25 years on active duty as a fighter pilot. He retired as a Colonel and the Inspector General of NORAD and the United States Space Command.
Sam served as a Fellow at the Homeland Security Institute, contributing in national preparedness and immigration policy. He recently served as a tenured full professor of economics at Morningside College.
Sam has a BS from the Academy, an MBA from Golden Gate University and a doctorate from the University of Alabama. He served as national co-chair and chief policy advisor for the Trump for President Campaign, was a policy director during the transition period and served as the Senior White House Advisor to the US Department of Agriculture. He currently lives in rural Iowa.
OK, so we need to educate our ruling class on the basics of economics. We all know those principles, because we live them everyday. We know that we have to have positive cash flow if we are to be able to stay ahead of the game. We demand that of our state and local governments by making sure there are requirements that those governments must balance their budgets every year. There are no chances for those levels of government to continue spending over and above what is available in the revenue that is coming in. 
