I’ll give the Democratic party credit for innovative and progressive thinking, hands down, any day. But witchcraft? Well, apparently Donald Trump thinks so. Take a look.
Our Economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed, but the Democrats are trying to “will” the Economy to be bad for purposes of the 2020 Election. Very Selfish! Our dollar is so strong that it is sadly hurting other parts of the world…
— Donald J. Trump (@realDonaldTrump) August 19, 2019
Now this is an interesting approach to political analysis, I must say. Clearly, any signs of economic change, good or bad, are going to be reported immediately, and last month the inverted yield curve was reported. This economic indicator has preceded every recession for the past fifty years, so it is taken seriously. But Donald Trump, in his sublime ignorance of how the economy actually works, has now taken to blaming the “will” of the “selfish” Democrats for this dire economic flash point. Oh, and we willed the manufacturing sector to slow down the past two consecutive quarters, as well? So, let me see if I have this straight: the economy is a little bit like a spoon, and the Democrats are Uri Geller, and we can bend it with our minds — is that right? Wow, that’s impressive.
Trump is off his nut this morning on the economy. He’s bad mouthing Jerome Powell, again, apparently oblivious to how he praised him to the hilt the day he chose him.
Pres Trump Nov 2, 2017, announcing Powell as his pick for Fed chair:
"He’s strong, he’s committed, he’s smart…I am confident that with Jay as a wise steward of the Federal Reserve, it will have the leadership it needs in the years to come.” https://t.co/JMHUVMxML2
— Karen Travers (@karentravers) August 19, 2019
Strong, committed and smart has devolved to “clueless” and “horrendous lack of vision.” Okey doke. But Trump has a vision, yes siree.
Need more evidence President Trump is worried about the economy?
He's calling on Fed to use the tools it normally uses during a recession:
1) A full percentage point cut in interest rates (from 2.25% to 1.25%)
2) Quantitative easing = Fed buying bonds to pump money into economy https://t.co/06TVjsCx4w
— Heather Long (@byHeatherLong) August 19, 2019
Larry Kudlow informs us there is no recession, and we are glad to hear his views. We learned in 2007 exactly how much his economic opinion was worth, when he told us then, as he’s telling us now, not to worry about a thing. Maybe Kudlow could explain to us, why, if there’s no recession, Trump wants to employ the tactics that one uses during a recession to mitigate the fall? Just askin’.