Donald Trump is not very good at running the economy, but he does have a great imagination about how he runs the economy. Trump continually boasts about the incredible amount of foreign investment coming into the country. It was $20 trillion last I heard, but it might be up to $30 or $40 trillion the next time Trump decides to boast about it.

This boast has absolutely nothing to do with reality. Contrary to what Trump says, there is no boom in auto factories or any other factories coming into the United States. Factory construction has actually plummeted since Trump came into the White House, after booming under Biden.

The looniness about the investment boom should be kept in mind when considering Trump’s deal to take control of 65 billion barrels of Venezuela’s oil. Trump is promising that this deal will both lower gas prices and be used to refill the Strategic Petroleum Reserves that he has largely drained as a result of his war on Iran.

If Venezuela doesn’t honor this deal, what will a future administration do, take them to court? Or will they send US soldiers to die for Venezuela’s oil?

While people are naturally offended by the blatant imperialism in this deal, that is precisely the reason why there is not much cause to be concerned. The basic story is, because the deal is so transparently an effort by the United States to steal oil from a country that it controls militarily, it is virtually guaranteed that as soon as the country is not run by a U.S.-installed dictator, Trump’s deal will be dumped in the trash.

This point was well-made by Venezuelan economist and opposition leader Ricardo Haussman........

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