The Conference Board, a research group that studies consumer confidence, let Trump know consumers may be getting the shaky-leg syndrome thanks to his tariff and sanction addiction. Consumer confidence fell in September, and that’s not good news for Trump’s great economy.
The Business sector of the economy stopped expanding when Trump first imposed the tariffs. And Trump 2017 Income Tax debacle adds $1 trillion to the more than $22 trillion national debt every year for the next four years.
The consumer sector of the market makes up 70 percent of America’s Gross Domestic Product growth. Consumer confidence goes first and then consumers stop spending when they realize Trump’s political snake oil will cost them their income tax return and then some this year, according to the New York Times.
Third-quarter GDP growth should be in the 1.8 percent range. But some economists think the real growth number will be less than one percent at the end of the year. If all of Trump’s tariff threats materialize, every American will pay more than $2,000 in tariff taxes in 2020, according to MarketWatch.
The other issue that plays a major role in the recession breathing down Europe’s neck is Trump foreign policy decisions. Mr. Trump told the UN globalism is dead. He’s all for nationalism and throwing allies under his hate-filled sanction bus. Mr. Trump plays a role along with Brexit and immigration in horsewhipping and then tying Europe to what some economists say will be a 2008 financial-damage type recession in 2020.
The repo market is short of cash thanks to corporations pulling cash out of that market to pay taxes this year. The repo market started acting the way it did right before the 2008 crash this month. That $1 trillion repo market is where banks short-term borrow from each other. The Feds have to inject cash into the market when repurchase rates jumped to 2.46 percent and the next day they hit 5.25 percent. The Feds will continue to buy Treasury notes indefinitely to stabilize the market, according to Fortune.
Nancy Pelosi let Trump know she has to impeach his ass over that stupid phone call he had with the president of Ukraine. Trump’s been tight with Ukraine for years. Mr. Trump has business deals in there, so he felt comfortable strong-arming the new president in order to help his campaign.
Some Trumpians say Trump wanted to Nancy to pull the impeachment after he saw the poll numbers. His Internet campaign manager said Trump sent a memo and started the “Official Impeachment Defense Task Force” to help him pay his legal costs.
Dil Bole Oberoi
