You may have noticed that, while the stock markets rose significantly during Trump’s first year, his second and third years have featured a market that is largely flat. And in the last few weeks, we’ve seen some of the worst single-day losses since the Republican-caused Great Recession, which happened 11 years ago.
Part of the problem is, the longest stretch of non-stop economic growth in history, which came about primarily because Barack Obama greased the wheel and then was smart enough to get out of the way and let the market handle itself for a while. And while he did that, the market did very well and we kept growing. And now, Trump feels he has to use his incredibly business acumen – which we have shown to be non-existent – to manipulate the economy into success.
And now you know why the sick markets are skittish. Two weeks in a row, the week has started with virtual market disasters, and both times it was because Donny felt the need to expand his tariff scheme, which isn’t working in our favor, not that Trump notices such things.
While Trump keeps talking about collecting “hundreds of billions” of dollars in tariffs from China, the fact of the matter is, they don’t pay the tariffs, we do. However, what’s worse is, China isn’t importing from the United States anymore. They don’t buy food from us anymore; they get it from Brazil and Russia, which means the $18 billion Trump and the Republican Party spent to subsidize farmers while Donny bled them dry is rather worthless, since it’s unlikely China will ever buy from them again.
Market analysts of all stripes have expressed concern over the state f the economy. You see, while Donny likes to brag about certain numbers, especially the stock market and unemployment, those numbers are indicative of little. For instance, our near-record-low unemployment just shows us that most people have jobs, it does not indicate that all but 3.7% of us are paying our bills. And while farmers do work their asses off, the “unemployment” figure is officially called “non-farm unemployment.”
Economists and market analysts are concerned because, if you go beyond the big marquee numbers, like unemployment and the Dow, numbers indicate problems ahead. Some are calling for a recession within the next year, which would be great for us, politically, but really; do we really want Donny in charge during a recession? According to him, the economy is the “best in history” and he’s still messing with trade. As I write this, Trump has delayed the additional tariffs that should have taken effect weeks ago until at least December 15, which means he can listen when experts tell him something – a little. He is still taunting the Federal Reserve, as if they have a significant role in the strength of the economy, and that caused the Fed to cut interest rates for the first time since 2008 – this time, by a quarter point.
According to economists, of course, the problem is not the Fed, it’s Donny. God luck finding a financial analyst or economist who will not point to the trade war as the reason s many models are saying there is a one-in-three chance of a recession in 2020, during the election. They say the $300 billion worth of Chinese imports subject to tariffs – the tariff scheme he’s postponed until December – will go into effect and it will have a negative effect on the country. Trump seems to have no clue that importing goods from China isn’t costing us anything and, in fact, American companies make trillions every year from those imported Chinese goods. Economists are also predicting no new trade deal with China within the next year, which will also hurt the economy.
Suffice it to say, Donald Trump is running the country the way he ran his businesses, and that is, into the ground. This is another reason for impeachment. Do we really want him running the government during a recession? Can we afford that? Trump and Republicans significantly reduced ur ability to bring the economy back should it fail, when they robbed the Treasury of $1 trillion per year going forward with their asinine tax cut. Add to that the fact that we are wholly dependent on imports and that the Fed has little room to cut interest rates in an emergency, and it’s clear that a deep recession could be devastating for large sections of the economy.
And once again; do we want Donny in charge if and when that happens? Hell, no we don’t.