For much of Trump’s illegitimate presidency the stock market continued the trend begun under President Obama’s administration. It rose to reach record highs. This is no longer the situation.
Because most investors in the market are wealthy, when Trump and his hypocritical party gave tax breaks to the wealthy and corporations under the guise of ‘tax reform,’ the market reached an all-time high. So, where is the market today?
Stocks were at a two-year low at closing time on Thursday. They showed a small increase at the opening bell on Friday based on the announcement that the U.S. and China were opening a new round of talks to end the trade war between them.
The market is not an indicator of our nation’s economy; it is a measure of how well wealthy Republican supporters are faring under his controversial economic policies. The market reveals the confidence, or lack of, corporations and their investors have in the government’s ability to increase trade and lower the trade deficit. Trump is not doing well.
His trade agreement to replace NAFTA includes very small changes. His goal was to remove President Obama’s name from the agreement. He has never been a “deal maker.”
Trump began a huge trade war with China when he implemented tariffs on imports, although his own advisers informed him that they would be a mistake. Trump has stated that trade wars are “good” and “easy to win.” In fact, he even tweeted that “you can’t lose a Trade War!” But Trump finds a way. His reason for the tariffs was to ‘reduce the trade deficit.’ The last quarter showed that the trade deficit had in fact risen by seven percent.
This is what happens when ignorant voters select a man who knows nothing about anything and refuses to learn or accept the advice of members of his administration who have experience in multiple areas where he is totally unqualified.
Millions of Americans elected a man who failed in business, his personal life, and as a human being.
Trump has cost Americans thousands of jobs. Soybean farmers have been crushed by his trade war with China. Coal Miners are watching their jobs disappear. His tariffs are forcing automobile manufacturers to close plants and layoff employees. The tourism industry has lost millions of jobs.
What would you expect from a man who has never worked a day in his life? He has been wealthy throughout his entire pitiful existence. With the aid of the Saudi royal family and Putin’s oligarchs, his wealth has risen. His entire life is a façade, and as a person, he is a fraud.
Republicans in Washington have continued to support his failing presidency. Therefore, they must go as well. Remember this on November 3, 2020. This is our country, not theirs.
The Truth Lives Here
Op-ed by this “Wise Old Fart,” James Turnage
Image courtesy of DonkeyHotey
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