Rudy Giuliani told the press he’s ready to testify. Giuliani also said he wants to be the attorney that tries the impeachment case. That’s the kind of double-talk the Rudster likes to use during press interviews. But Rudy is neck-deep in the Ukraine fiasco, and he continues to stir the pot so Trump can turn America’s democracy into a hybrid form of democracy where he calls all the shots.
Giuliani has the Southern District of New York on his back for alleged money laundering, wire fraud, and other crimes related to his work in Ukraine and in other parts of the world. According to a recent report, Giuliani had conversations with Venezuelan President Maduro before Pence and Eric Prince tried to oust him from power. Evidently, Rudy believes he works for the U.S. government thanks to the president’s plan to use mobster tactics to negotiate with other countries.
Phil Hogan, the EU’s new trade commissioner wants Trump to end his escalating tariff war with Europe. Mr. Trump’s steel and aluminum tariffs hurt Europe’s manufacturing sector. If Trump follows through and imposes tariffs on French products, the economic damage will only get worse across the Atlantic, according to Hogan.
The trade deficit dropped for the third straight month thanks to an increase in exports and a decrease in imports. But the deficit is still a whopping $68 billion. Mr. Trump promised he would balance the trade books, but that won’t happen during his first term.
America’s manufacturing sector continues to feel the impact from the China trade war. U.S. consumers keep paying tariff taxes every month even though the president claims China pays the $40 billion the Treasury collected from taxpayers in 2019.
Low Unemployment and inflation are still the shining stars in Trump’s economy, but low-wage jobs are the engines that make the unemployment report feel more like fiction than fact. There may be 7 million jobs open in the U.S., but those jobs aren’t the jobs Americans want. Other economic factors like out-of-control spending, and Gross Domestic Product erosion continues to weaken the economy. The Feds keep the repo market afloat by injecting cash into that market every month so banks can borrow from each other at low-interest rates, and that’s not a healthy economic sign.
Higher consumer prices will be the flavor of the day in 2020. A new study by the Federal Reserve proves Trump’s tariffs will continue to erode economic growth in the U.S. and around the globe. But Trump continues to use tariffs to bully allies and to force consumers to pay hidden tariff taxes when they buy cars, electronics, and other products from other countries.
Dil Bole Oberoi
