Federal Reserve Economists Thinks Trumps Tariff Addiction Hurts U.S. Manufacturing

Mike Pompeo wants to run for a Senate seat in 2020. Pompeo knows the Democrats want a piece of him for giving Trump the thumbs up when he decided to screw Zelensky. Pompeo knew what the president wanted to do long before Trump talked to Zelensky and asked him to do him a favor. Mr. Trump wanted to make Ukraine the bad guy in the 2016 election interference debacle, not Russia.

Mr. Trump and the Russians had a deal during the 2016 election. The deal started before Trump announced his run for president. Trump told Putin he would drop the sanctions if Putin gave him the green light to build a Trump Tower in Moscow. That tallest building in Europe project would give Trump serious bragging rights around the world. But Trump scrapped the project in 2016 when his ex-lawyer and fixer Michael Cohen ratted him out during his congressional testimony.

The president’s ego still can’t handle the reports the Russians helped him win in 2016, so he decided to use Ukraine as his scapegoat. Starting conspiracy theories is the Trumpster strong suit. Mr. Trump put his lead legal attack dog, Rudy Giuliani, to work to help him bring Ukraine to its knees. Rudy also made Joe Biden look like a criminal who helped his son stay out of trouble during a Ukrainian corruption sting. Biden’s son Hunter got a job with a Ukraine gas company while Joe was VP. Trump claims Joe pulled a quid pro quo number on Ukraine to keep his son out of a Ukrainian prison.

China claims the phase one deal is still under review by lawyers and translators. Mr. Trump needs a signed phase one deal before the 2020 election, but some economists think China won’t sign the deal Bob Lighthizer and his team put together.

President Trump told his voter base his tariff wars will bring manufacturing jobs back home, but that was more Trumpian snake oil. America’s manufacturing sector continues to shrink, and jobs continue to disappear thanks to the tariffs, according to Federal Reserve economists.

Plus, business investment is in the toilet, and big-ticket sales dropped two percent in November. Those signs tell economists a recession could be the economic flavor of the day in 2020. In fact, most Wall Street economists think a global recession will be in full bloom by June 2020 unless Trump gets help for his tariff addiction and his Narcissistic Personality Disorder.

Source: https://www.cbsnews.com/news/trump-tariffs-hurt-us-manufacturing-more-than-help-fed-study-finds/

Dil Bole Oberoi