Goldman Sachs economists claim the U.S. economy is almost recession-proof. Trump’s claim that the phase one trade deal is in the bag may not be accurate, but Wall Street thinks it is. Obviously, a lot of those white collared money magicians never had much interaction with the Chinese government.
China has a history of changing agreements before and after officials sign them. China’s chief trade specialist Liu He is in Washington going over all the details of the agreement. Chinese lawyers and translators went over the agreement and made changes that could throw a monkey wrench in the phase one plan. China still wants Trump to lift all the tariffs. China also wants Trump to stop trying to sabotage their 5G platform around the world.
Huawei is still a threat, according to the Trumpster. So Mr. Trump sent Pompeo to Europe and Asia to stop countries from signing up for Huawei’s 5G platform in 2020. But most countries know Trump’s spying accusation is just a ploy to hurt China’s economy. Trump’s tariff hurt China, but the Chinese know how to play with their economic numbers. But IMF claims China’s economy will grow by 6.0 percent in 2020, and the U.S. will grow by 1.9 percent.
The U.S. economy took a tariff-whipping in 2019. Gross Domestic Product growth was 3.2 percent last January. According to the latest government projects, GDP growth dropped to 2.1 percent in December. Plus, Americans got hit Trump’s hidden tariff tax that lurks in prices of all products made in China and other countries. In 2019, Americans paid $40 billion in tariff taxes. The 2020 tariff-tax bill may he higher even though Trump dropped the tariff percentage on some Chinese products.
The other fly in the economic ointment is Trump’s latest move to blow Iran’s top military man to pieces outside the Baghdad airport. Mr. Trump gave the okay for drones to send General Soleimani to meet Allah. And that move sent the price of oil in orbit.
Iran’s supreme leader let Trump know he’s coming for him and his friends in the Middle East. Mr. Trump thinks Iran is too weak to make another move against him. But Iran likes to fight under the radar and hit hard like black belt Ninjas.
Nancy Pelosi told the press Trump made another stupid move without telling her. Mike Pompeo said Trump wants to de-escalate his beef with Iran. Pompeo is one of the witnesses Pelosi wants at the Senate trial. She knows Mike knows all of Trump’s Ukrainian secrets. Mike operates under the influence of Trump’s snake oil.
Read More: https://www.businessinsider.com/trump-planned-strike-iranian-soleimani-mar-a-lago-2020-1
Dil Bole Oberoi
