The president keeps poking the Iranian bear. The Iranian den of bears told Mr. Trump to watch his back and get ready for an ass-kicking, missile style. As the Trumpster continues to break international wars, world leaders prepare for the worst. They know another Middle Eastern war will body slam the global economy.
The International Monetary Fund’s latest report claims global economic growth will be 3.2 percent in 2020. That estimate was before the Trumpster sent an Iranian hero to meet his maker. Oil hit $70 a barrel when that news hits the presses. China and Russia told Trump his drone attack ranks at the top of his list of stupid economic and financial decisions he made during his three-year monarchy.
A war with Iran will bring global economic growth down to 2.0 percent, according to some economists. The IMF report said the U.S. economy would grow by 1.9 to 2.0 percent in 2020, but the economists can kiss that estimate goodbye.
Mr. Trump seems determined to bring Iran to its prayer-saying knees. But he’ll also brings the world closer to a recession. And central banks in Japan and Europe don’t have enough interest rate cutting gas in their tanks, or cash, to handle it.
The U.S. Central Bank is in a little better shape. Powell and other members can cut interest rates down to the bone to help stop the economic bleeding. The U.S. economy has a fever. Trump’s tariff-bug added a major symptom to the list of economic signs that show Trump’s great economy claim is another Trumpian lie.
Two Fed members recently said the low unemployment number isn’t really that low. The Work Force Labor ratio number proves only 63 percent of the civilian-age workers are in that percentage. Millions of people don’t look for work for several reasons.
Consumer confidence slipped for the fourth straight month in December. That’s another fly in the economic ointment. Consumer spending fuels economic growth. Consumers stopped buying big-ticket items when they realize Trump will continue to make them pay tariff taxes in 2020.
Former Fed Chief Ben Bernanke told a group of financial wizards, he thinks Powell and his group of economic gurus have the tools to prevent the recession Trump keeps fueling. The Feds continue to inject cash into the repo market every month, and they can still cut interest rates at the next meeting if the economic situation continues to erode a warp-speed.
Dil Bole Oberoi
