Wall Street just had its worst week in more than ten years. Our nation’s trade deficit increased by seven percent in the last quarter. The national debt will increase by two-trillions dollars according to the latest economic forecast because of Trump’s “tax reform.” Soy bean farmers are losing their businesses. Auto workers are being laid off. The last two are the result of Trump’s unadvised tariffs.
Throughout the 2016 campaign Trump claimed to be a successful businessman. After his illegitimate election he failed to secure top economic experts into his cadre of advisers. Instead he chose fellow billionaires and millionaires to be part of his circle of sinners.
The issues concerning investors and financial experts are serious.
When Trump was sworn into office the stock market was strong. Policies adopted by President Obama’s administration resulted in the market rising above 20,000 for the first time in history. After Trump moved into public housing the trend continued. The most negative effect on the market is uncertainty and Trump makes rash and usually poor financial decisions.
Negative politics within Trump’s administration are creating a “scared” economic environment.
The “Bully President” refused to sign a bipartisan agreement which would allow the government to continue operating until February 8, 2019. If the spoiled child in the Oval Office doesn’t get his way and almost six-billion dollars in appropriations are not added to the budget, tens-of-thousands of government employees will be without employment at midnight on Friday.
Because Trump’s fake “tax reform” was nothing more than a gift to the one-percent and corporations, many economists believe that we are moving towards another recession. Investors are primarily wealthy Americans and executors of plans such as 401K’s. They are fully aware that it is not the market which fuels our nation’s economy. America depends on the “expendable income of consumers.” Wages have been stagnant in our country for the last 20+ years adjusted for inflation. The number of ‘good-paying’ jobs has declined in recent history.
It appears that Trump not only conned millions of uninformed voters, he fooled wealthy investors as well. Trump has failed America and removed the respect our nation once held in great esteem on the world’s stage.
The Truth Lives Here
Op-ed by this “Wise Old Fart,” James Turnage
Image courtesy of DonkeyHotey
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