Donald Trump, You Can't Ride Two Horses With One Ass
It's not your economy stupid or is it?
Trump started taking credit for the economy from day one. In fact, the economy was doing great because of the processes put in place by President Obama and would be the case for about two years.
Trump's trade wars, tax cuts, his new policies and rolling back President Obama policies are coming home to roost.
Trump wants more tax cuts, but even members of his administration are warning against them.
Walmart did great this last quarter, but many others did not, in 2019 alone there are now over 8000 brick and mortar businesses shutting down.
Trump still tells his base and tries to convince all of America that the economy is great. The economy was great under President Obama's policies, but it wasn't Trump's policies that have made his first two years seem great.
We need tax cuts or does Trump just want tax cuts?
When Trump starts out by saying that he's looking for tax cuts, but has to make sure to let the American people know that the economy is still growing and a recession isn't near, it's a sign that it's time to worry.
As a parent, this reminds me of a twelve year old who did something he shouldn't and he knows mom and dad are about to find out so he comes out with an excuse before the crap hits the fan.
Trump wants to cut payroll taxes and maybe capital gains taxes, it's not because of fear of recession, it's just to keep the economy moving.
If he cries wolf before the wolf comes to town, he's endangering the economy. Putting the cart before the horse, he will be using options that he could use later if a recession does come.
Right now, though it has slowed, unemployment is still low and consumers are still spending, but with a recession scare like Trump is making, consumer spending is usually the first to slow down and could quickly kick America into a recession.
If you've read Trump's "Art of the Deal", right about now he would be getting ready to hire an attorney to go out and file bankruptcy and renegotiate. This is American and he can't file for bankruptcy, but other countries could call in on their loans to America and then where will we be?
Investors are watching, some like JP Morgan are preparing for a downturn that could happen in a year from now.
And while Trump is pointing his finger on the media and others for a possible recession that "isn't coming", the buck actually stops with Trump and his policies that have helped his cronies and not all of the American people.
No, Donald Trump, unlike your personal attacks on twitter to anyone you feel threatened by, this is a fact that the American people need to be aware of so they can prepare. It's not about politics, it's about economic survival.
© 2019 Lady Liberty
