Trump is Panic-Tweeting FOX News Denials of Imminent Threat of the Trump Recession

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Gage Skidmore / Flickr Donald Trump...
Gage Skidmore / Flickr

In case you haven’t noticed, Donald Trump has failed at nearly everything he promised to accomplish. There is no wall on the southern border. Hillary Clinton has not been locked up. He has no denuclearization deals with Iran or North Korea, no trade deals with China or Mexico or the EU, no infrastructure bill, and Obamacare has neither been repealed nor replaced.

The one key issue that Trump has been clinging to for two years is his argument that the economy is booming. Let’s set aside for the moment the fact that that isn’t true. Many critical indicators such as wage growth and job creation are lagging (and trailing Obama’s record). But Trump has been using the stock market as his evidence of a strong economy. That, of course, demonstrates his ignorance of economics. The stock market only reflects the value of equities that are mainly traded by giant financial institutions. It is not a gauge of the economies health.

However, now even Trump’s misapplied measuring stick is biting him in the asinine analyses he’s been peddling. On Wednesday the market has fallen off a cliff, and specifically due to Trump’s ill-considered policies on trade and taxes. And the site of this downturn has thrown him into a tizzy of excuse-making. If he doesn’t have this to brag about, he’s got nothing but his racism left to hold his cult together.

Consequently, Trump unleashed a series of tweets intended to shore up the catastrophic financial news of the day. And they leaned heavily on his top economic advisers at the White House – er, I mean at Fox News. Trump’s Shadow Cabinet was busily papering over the bitter truth that everyone can plainly see. And Trump embraced it frantically for fear of having to take any responsibility. Rest assured that he will greedily steal credit for the economic boom times from 2010 to 2017, during the Obama administration, but blame Obama for the crash of 2019.

The tweetstorm began with a familiar Trump whine: “The Fed has got to do something! The Fed is the Central Bank of the United States, not the Central Bank of the World.” Indeed. And the Fed is doing its job. But that job is not to save the stock market. It is to manage inflation and to promote monetary and financial system stability. Trump only wants the Fed to cut interest rates for his own selfish interests. First, he hopes that it would artificially stimulate further over-exuberance in the stock market, boosting his reelection prospects. And secondly, it would reduce his own interest payments on over $350 million dollars of outstanding variable interest loans.

The next tweet was another Fox News reference wherein they blindly praised Trump’s tariffs saying that “you can’t tell me that it has hurt our economy.” That’s obviously true. Not the part that tariffs haven’t hurt the economy (they have), but the part where he says you can’t tell him that. And you can’t tell Trump that (or anything) either. It’s like yelling a non-existent border wall. He will continue to tell the same lies, even after he’s been proven to have lied.

Trump then tweeted that “Tremendous amounts of money pouring into the United States,” because “People want safety!” That completely contradicts the movement in the markets. Then Trump quote-tweeted another Fox flunky who said that Fed Chair Jay Powell was making mistakes by, among other things, being “data dependent.” Because why would anyone want to rely on actual data to make important decisions? That goes against the core philosophy of the Trump Doctrine of Alternative Facts.

So as the stock market descends, Trump grasps for support from his State TV fluffers who he knows will always prop him up, no matter how ludicrous and desperately they have to revise reality. There is no coherent argument that justifies Trump’s failures but, fortunately for him, Fox News is adept at spinning lies for any occasion. And the glassy-eyed Deplorables will believe anything that Dear Leader tells them.

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7 Comments on "Trump is Panic-Tweeting FOX News Denials of Imminent Threat of the Trump Recession"

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Dick Panico
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Dick Panico
.,,Well as usual, Trump is wrong ! The federal reserve is in fact the “bank of the world “. ..because our Dollar , is the reserve currency of the world ( at least for now ) . ..There are oceans of dollars , sloshing all over the world , held in place by “computers”, that (falsely indicate ), the mega rich own these dollars . Bit Coin , is now proving this theory to be wrong . The so called (bit coins )are mathematically created by ( financial engineering) maniac’s ,that know the dollar’s are now useless . ..And it’s… Read more »
DHG
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Actually the Anglo-American world power goes to its demise at the hands of Gods Kingdom fully functional. This is going to be a worldwide crash called the Great Tribulation that will be ushered in just as soon as the political destroys false religion. It is coming and soon.

Mick owens
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Mick owens

???

fishouttaH2o
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fishouttaH2o

Okay. Get back on your meds. You’re making as much sense as the impostor president dotard fool.

Debra
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Debra

My retirement is in the stock market and I sure am praying that I don’t lose it all. I don’t believe all the unemployment numbers either. I believe they are higher than they are reporting. Businesses are laying off. They got what they wanted in the tax break. Now they don’t care what happens to the economy. They will feel the burn as we the little people won’t be spending as much.

Dick Panico
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Dick Panico
…The tax breaks, mostly went to the very rich . Trumps (false ) economist’s , are those guys that tell us , what happened yesterday. But not what will happen tomorrow, because they haven’t got a clue. We don’t need anyone telling us what happened yesterday. We can figure that out for ourselves. We need an economist that can tell us what’s going to happen tomorrow. Larry Kuddlow is , not that guy. He’s a recovering alcoholic, drug addict , as he divulged ,when he was interviewed by Playboy !! Not an accredited economist. And it shows . ..Peter Navarro… Read more »
Johnnie Dorman
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Johnnie Dorman

One thing I can say for TRump, and that is that he truly holds to the Republican top heavy economic policies that have never worked.