Trump is losing and trying to blame everyone else, after causing the worst stock market day of the year with his trade war.
MSNBC’s Ali Velshi said that Wednesday was the worst percentage drop of the entire year:
Trump has caused the worst stock market day of the year as his policies move the country closer to a recession. pic.twitter.com/aIFWXv27m6
— Sarah Reese Jones (@PoliticusSarah) August 14, 2019
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Trump tried to settle the markets by blaming the Fed for the recession that he is on the verge of causing:
We are winning, big time, against China. Companies & jobs are fleeing. Prices to us have not gone up, and in some cases, have come down. China is not our problem, though Hong Kong is not helping. Our problem is with the Fed. Raised too much & too fast. Now too slow to cut….
— Donald J. Trump (@realDonaldTrump) August 14, 2019
..Spread is way too much as other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are playing the game! CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win!
— Donald J. Trump (@realDonaldTrump) August 14, 2019
Presidents who refuse to budge on policy when they are clearly wrong and harming the country, are the sort of presidents who destroy economies and cause recessions. Trump knows nothing about economics. He is still pushing the universally debunked lie that China is paying the US tariffs. Trump is losing it and making an argument that people know is not true. An interest rate cut is not going to turn this situation around. An interest rate cut is a mixed bag. It is not a cure-all for the economy, and should not be used in an effort to paper over the damage that is being done with the president’s trade war.
Trump is looking to hold off a recession until after the election, but even if his trade war stops tomorrow, it might be too late.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
