Financial analyst Barbara Boyd explains how the Trump administration with Secretary of Treasury Scott Bessent is attracting many trillions of investment back to America and has created hundreds of thousands of jobs by reviving Hamiltonian economics.
As headlines warn of a $40 trillion U.S. debt and a “bond market explosion,” Barbara Boyd argues a fake news manufactured financial panic is being used to attack President Trump ahead of the midterms.
She spotlights Treasury Secretary Scott Bessent’s “discreet” plan—echoed by Vice President JD Vance—to get economic growth to outpace debt by directing credit into productive investment rather than speculation or consumer handouts as Australia is doing with inefficient renewables subsidising foreign companies with tax breaks at taxpayer expense to de-industrialise the nation.
Boyd frames the approach as an updated Alexander Hamilton model: sovereign credit for infrastructure, technology, and industry to expand real output and contain inflation, while curbing Wall Street and Fed-driven speculation. She cites Bessent’s focus on domestic production and supply chains and highlights executive-order priorities including advanced manufacturing, nuclear and fusion power, a Moon colony by 2028, and breakthrough science.
The episode also features Vance’s critique of free-trade policies, “deaths of despair,” and a $1B Cleveland-Cliffs investment in Middletown, Ohio.
It would be a waste of time ensuring Treasurer Jim Chalmers watches this video. It is doubtful he has the mental capacity to understand what Barbara Boyd is explaining.
Readers should be aware Australia was built on a similar system with tariffs protecting our primary production and manufacturing until the de-regulating, free-trading Liberal and Labor parties reversed it in favour of the big end of town and by shifting our industrial base to Asia under the Lima Declaration signed off by Gough Whitlam.
Hamiltonian economics
Hamiltonian economics is a system of national mercantilism and government-assisted development proposed by Alexander Hamilton, the first U.S. Treasury Secretary. It focused on building a strong central government, establishing public credit, creating a national bank, using protective tariffs, and promoting industrial growth to free the young nation from European economic dependence.
Core Pillars
- Assumption of Debt: The federal government took on Revolutionary War debts from both the states and the Continental Congress to unify financial standing and build national credit. [1, 2]
- National Bank: The creation of the First Bank of the United States managed government funds, issued uniform currency, and provided vital business loans. [1]
- Industrial Tariffs: Protective tariffs and excise taxes (such as the whiskey tax) shielded infant domestic manufacturing from foreign competitors and raised public revenue. [1, 2, 3]
- Implied Constitutional Powers: Hamilton successfully argued that the U.S. Constitution granted the federal government broad implied powers to manage the national economy. [1]
Historical Impact and Legacy
- Laid the foundation for the 19th-century American System of Economics.
- Sparked a fierce debate with Thomas Jefferson and James Madison, who favored an agrarian society.
- Shifted American industry toward becoming a dominant global manufacturing power.