He’s cutting taxes … again. No wait … he isn’t cutting taxes! He’s reversing his trade tariffs. No wait … he isn’t doing that, either! Just what the hell is the fool in the Oval Office doing??? Nobody knows, for sure.
Economists have been predicting that the nation will see another recession before the end of 2020. I am not an economist, but nonetheless put my two cents worth in and say I think it will come by the end of 2019, or at least a harbinger of a recession. Trump has seemingly believed that his house of cards would stand at least through November 3rd, 2020 … election day.
Well, last week there were some warning signs. First, Trump’s latest round of tariffs on imports from China sent retailers into a frenzy, with the holiday shopping season on the horizon, and so as the Dow headed south, Trump postponed those tariffs, and the next day all was well once again. Then, the bond market flashed a warning signal, as the spread between the 2-year Treasury note and 10-year bond inverted for the first time in more than a decade. That has historically presaged a recession, and so once again the market turned southward, losing about 3% last Thursday.
Trump to his base, the only people who believe a word he says, claimed that …
“Our Economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed. The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well. If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!”
Oh, wouldn’t it be lovely if the “man” actually had a clue about what he is speaking?
He talks of further tax cuts. Our national debt and budget deficits are both already at a historic high … and he wants to cut revenue even more??? Where the heck is the money going to come from to keep the government functioning, to pay Social Security checks and pay the military and pay for food stamps, Medicare/Medicaid, etc., etc., etc.??? How will the United States pay its loans? Has the “man” no sense of how the economy works, how revenue vs expenses work, how a budget works? Yeah, silly question, isn’t it? He has no concept … he thinks you have to have an ID to buy groceries.
But it gets even better (where ‘better’ means ‘worse’ in the alternative universe). Remember back in May 2016, when Trump was hot on the campaign trail and he made this statement …
“People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government. First of all, you never have to default because you print the money, I hate to tell you, OK?”
Oh, my aching head!!! Donnie, Donnie, Donnie … it is NOT that simple! The money that is printed is expected to be backed up with real assets! This is not an effing game of Monopoly but is real world economics!
Printing more money will only exacerbate the problem, yet that is precisely what Trump is proposing to offset the market downturn that he swears doesn’t exist. Or rather, that he believes has been created by his enemy, “the media”.
“The Fake News Media is doing everything they can to crash the economy because they think that will be bad for me and my re-election. The problem they have is that the economy is way too strong and we will soon be winning big on Trade, and everyone knows that, including China!”
People … sigh … the incumbent does not know what he is doing. He does not understand how global markets work. He does not understand how the economy works. He barely understands how to wipe his patootie. To my republican friends: I beg of you, please study this situation, try to understand what your “hero” is doing to not only this nation, but to the world.
Most presidents are not economists. But then, most presidents hire economic advisors who ARE economists, who DO understand how the world of economics and high finance works, and more importantly, they actually LISTEN to those paid advisors. Trump is convinced that his “gut” (and there is certainly enough of it) is smarter than all the advisors that WE THE PEOPLE are paying, and he listens to nobody. Folks … there is a price to be paid for this folly. We will all pay that price. Think about it.


I woke up this morning, flipped the television on, and saw … a doorman walking back and forth in front of a building. The television camera steady on the door to what was obviously an upscale high-rise, doorman in his fancy uniform with gold braid trim, walking back and forth. The banner at the bottom of the screen read something to the effect that Trump would be coming out any minute to go vote … for himself. This was this morning’s “breaking news”. Since it appeared that the camera was going to just sit there watching the doorman and awaiting the glorious arrival of the trumpeter, and then would likely follow his limo all the way to the polling place, then watch him enter the polling place, after a sigh of disgust, I turned the television off and proceeded with the tasks of the day.
Pulitzer Prize-winning George Will is a columnist for The Washington Post, with whom I rarely agree, yet I have more respect for him than for most any other columnist today. Will is politically conservative, while I am moderate-liberal, but he is respectful, intellectual and above all fair. He is an “equal opportunity” pundit who criticizes whichever side deserves it. And this campaign season, he has taken issue with none other than Trumpty=Dumpty! I knew I liked George! According to Will, Trump’s rhetoric about limiting freedom of the press will be comparable to a re-enactment of the Sedition Act of 1798. The act made it a crime to “write, print, utter or publish, or cause it to be done, or assist in it, any false, scandalous, and malicious writing against the government of the United States, or either House of Congress, or the President, with intent to defame, or bring either into contempt or disrepute, or to excite against either the hatred of the people.”
newspaper, or to see the online news sources reigned in such that they cannot report on the actions of the Trump administration? And what about us? Those of us who write blogs, who write op-ed pieces for newspapers would also be silenced. The reality, of course, is that even if Trump were to somehow win the election and become president, he could not change the 1st amendment easily, I suspect not at all. But the very fact that he wants to, that he is willing to trash what is arguably the most important right we are granted by the Bill of Rights, is troublesome, to say the very least.