The impeachment noise continues to grow as the White House tries to figure out how to get Trump out of the mess he created when he strong-arms Ukraine’s President Zelensky on the phone. Applying muscle to foreign governments so they do his dirty work is a Trump specialty. There’s a secret server somewhere in the White House that contains classified information. And that server also contains Trump’s calls to foreign leaders. Those calls have the scent of criminal activity in their DNA, according to the New York Times.
The Ukraine blowup doesn’t help the eroding economic situation in the U.S., according to investors. Some investors think the impeachment process will help stock prices, but other investors continue to run to the precious metal market and they stash cash to protect their assets.
The news that consumer confidence dropped in September is a sign a recession could be around the corner. Consumer spending is the heart of Trump’s great economy. If consumers decide it’s time to circle their financial wagons in 2019, a 2020 recession will be the next Trump challenge, according to MarketWatch.
The Feds cut interest rates by 25 basis points in September, but the cut had little impact on borrowing or business investment. And the upcoming budget battle could be the hurricane that blows the doors off America’s economic growth. Trump still wants $3.6 billion for his border wall, and the Democrats cut that out of the budget.
Neither political party wants another government shutdown, but if the Trump Administration and the Republicans don’t make some concessions, the recession could just be a few months away, according to the Washington Post.
According to a report by scmp.com, China wants to but more soybeans from the U.S. and Chinese leaders want Trump to stop the theatrics and get serious about a trade bill. American farmers lost their number one export partner when Trump went into tariff mode 15 months ago, and the farmers want Trump to settle the dispute sooner than later.
China’s top diplomat Wang Yi told UN members Trump’s tariffs will be the catalyst for a global recession. And if Trump decided to remove Chinese companies from the New York Stock exchange to curb investment in Chinese corporations China will retaliate, according to Wang.
Mr. Wang told the group China wants to resolve the trade issue as well as other issues like intellectual property thief. But dealing with Trump is like dealing with a schoolyard bully who wants to win regardless of the price Americans have to pay for him to claim victory.
Dil Bole Oberoi
