Huawei may get the last laugh when Trump realizes he hurt his tech sector when he used the giant Chinese tech company as a trade bargaining chip. Huawei’s half-yearly revenue figure shows a 23 percent increase after Trump imposed the ban. And the company’s 5G division has 50 5G contracts on the books. Trump told U.S. techies he would get back to them with license information once the Chinese signed his one-sided and dictatorial trade agreement, according to the Washington Post.
Trump keeps hammering Elijah Cummings. Mr. Trump insinuated Cummings is a crook. Mr. Trump claims funds earmarked for Baltimore improvements disappeared, and Cummings knows where they went. Trump wants to break Cummings for investigating Ivanka and Jared.
The Cummings Oversight Committee and two other Congressional committees are all in on the Trump-takedown. But Trump makes it sound like Cummings is the bad guy. Mr. Trump plays the oppressed people against the system. Trump creates a problem and then he tries to solve the problems he created. The Trumpster is the savior of the oppressed in the eyes of his voter base. But when his political snake oil wears off, and the Trumpians find themselves in a Trump-created recession, 2008 will look like a lightweight recession compared to a Trump recession, according to the New York Times.
The interest rate cut may not be enough to stop the economic bleeding caused by Trump’s tariffs and sanctions. The president keeps pushing for a dollar devaluation to make American products more competitive. But China and Europe will do the same thing if Trump pushes for an intentional dollar devaluation.
Government economists think the country will be in a Trump-inspired recession in 2020, and it could hang around a while. Plus, economists say the national debt is on Trumpian spending steroids. The Trumpster likes to spend the people’s money, according to the Washington Post. Mr. Trump will add more than $4.1 trillion to the national debt by the time he’s up for re-election. According to recent government reports, the economy grew by a meager 2.1 percent in the first six months of 2019. Last year, Gross Domestic Product growth was 3.2 percent.
Mr. Trump sent Mnuchin and Lighthizer to Shanghai to push his deal to control how China does business in the global marketplace. Mnuchin told Trump the Chinese don’t want to talk about a new trade deal until he leaves office. But Mr. Trump told the press the Chinese reneged on the deal he said he had with President Xi at the G20 Summit.
President Trump told the press he can wait until his second term to get the trade deal he wants. The Trumpster told the Chinese he’ll charge them more when he beats Biden. The Chinese told Trump his insincerity and bullying have to stop if he wants to talk to them about buying more farm products.
Dil Bole Oberoi
