Comment submitted by Cash McCall
Excellent article. To add to that, its is springtime when the manics become unhinged. Trump is off in mania. Reckless mania.
It is also worth noting that six economists left dept of Agriculture for a heavily researched report that showed Trump Tariffs and RINOtax were harmful to farmers and farm income which is down 50% on the manic depressive’s watch.
Everyone is forced to placate this bastard. The market tumble today was from Trump Tweeting he would put 20% Tariffs on european autos. There is never the mention that the US already had Tariffs of 25% on SUVs and Trucks from Europe.
The worst part of this Trump market shock is that others had pre information. The sell off was undoubtedly mutual funds and pension funds that were not the insiders of the Trump burning dumpster Administration. Saudi big Kingdom fund is reputed to be ready to buy Chinese indexes and may have gotten their entry point from Trump.
Center of attention that’s what this walnut brained orange loser requires at all times.
Let me remind you that in spite of Trump’s claim to be a great negotiator there are no deals and he fell flat on his face with Obamacare repeal and replace. NAFTA2 is not going anywhere. Grassley told Trump to remove the Aluminum and Steel Tariffs from Canada and Mexico or he would Kill Trump’s meaningless changes.
Trump told all his idiots that he had the power to end NAFTA. NAFTA is a Congressional Treaty and Trump has zero power to remove it. RINOs gave him the opportunity only to make changes to it and all changes would have to be approved by all three party nation’s legislatures. Trump browbeat and delayed so long that Canada and Mexico waited to see what would happen in the midterms. Trump got destroyed and is in GRIDLOCK. Mexico and Canada are in no hurry to approve it. If they don’t approve it, then the original NAFTA remains. So much for cheap Trump yapping.
Out of all of the smoke and fog, Trump doesn’t have a single deal to show for anything. NOTHING.
Where is the wall? Gone and nobody knows where. It was in the news the Pope was bringing in a big caravan and suddenly the wall was blacked out. No more news.
Joe Biden, an imperfect candidate has one virtue, he is electable. He gets along with Republicans and more importantly Conservative voters will crossover, so will Libertarians. Trump will be delivered a landslide defeat in 2020 on a scale like the midterms. But Trump won’t run if he sees a big defeat. His fragile ego could not take it. That will leave Pence. Hard to imagine anyone voting for Pence.
Let’s understand a few things about the great negotiations. 1) not one Automaker supports trump’s changes to NAFTA. Not one. 2) not one domestic steel or aluminum company supports trump’s tariffs. Not one. Bush II did this previously. Bush Tariffed foreign steel. By the time Bush II decided it was a bad idea, 40% of domestic steel producer went belly up and 200,000 jobs were lost in fabrication. So what does the orange idiot do… knowing this history he repeats it. Not one steel or aluminum maker has expanded operations. Prices are up, margins are up but sales are down, demand is down.
Manufacturing has slumped 6% under Trump. Midwest manufacturing even worse. There are roughly 50,000 jobs in domestic Steel in America and 5 million in metal fab that uses various types of imported steel not made in the USA. So Trump sacrifices the 5 million jobs for the supposed protection of 50,000 jobs. Bush II already did this. If Tariffs worked then Bush II would have fixed the problem, instead he made it much worse.
So no-deal Trump and he has nothing but a burning dumpster for foreign policy. His Generals called him an idiot and now you have war in Afghanistan, Syria, Iraq, a failed Bay of Pig coup in Venezuela and posturing to pick a fight with Iran. Then there is the endless meddling with China. Messing with China is like messing with an adolescent boy that is going to grow up to be twice your size. Nothing Trump does makes sense nor has he had any success in anything. It is all an unmade bed.
Trump is by far the worst and dumbest in US history.
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https://www.zerohedge.com/news/2019-05-07/luongo-economic-warfare-man-strikes-again