UPDATE BELOW
In a series of remarkable tweets, this morning President Trump lashed out at the Federal Reserve once again and suggested that the Fed should have done something (today?). No one expected any activity from the Fed today.
He followed up by "ordering" American companies to seek alternatives to doing business with China, in response to news of retaliatory tariffs by China.
As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great...— Donald J. Trump (@realDonaldTrump) August 23, 2019
....My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?— Donald J. Trump (@realDonaldTrump) August 23, 2019
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far....— Donald J. Trump (@realDonaldTrump) August 23, 2019
....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..— Donald J. Trump (@realDonaldTrump) August 23, 2019
....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..— Donald J. Trump (@realDonaldTrump) August 23, 2019
....your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,....— Donald J. Trump (@realDonaldTrump) August 23, 2019
This is mad man mercantilism. The stock market quickly plunged following the tweets.....all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!— Donald J. Trump (@realDonaldTrump) August 23, 2019
-RW
UPDATE
Dow Closes Down for the Day More Than 600 Points
It's becoming increasingly unlikely he'll be reelected, and we'll be saddled with a radical left-wing socialist for president. That might not be too bad if the Senate or House are the other party, but the way the leftists on both sides of the aisle behave, who knows?
ReplyDeleteGiven how absolutely psychotic both major parties have become, it's difficult to care who becomes president anymore.
Someone looked at these tweets on my screen and asked me if the President really did put quotes around the word "brilliantly". The person then remarked: "He is his own parody"
ReplyDeleteIt's a very interesting situation. For all of the perceived problems and for all of his campaign promises, Trump has been very effective at ticking the boxes by applying simple and dumb band-aid solutions to each. Each of these "achievements" he can recite clearly and simply. He'll be re-elected.
ReplyDeleteOrders? You don't have no orders. You can't give no stinkin' orders! What, really, is the difference between a socialist tyrant and a merchantilist tyrant? I don't think I'm smart enough to properly answer that question in detail. However, one thing about which I am certain: Power corrupts. And the good start our founders provided in a balanced triumvirate has been so corrupted by power that I fear we'll never again realize anything even close. For me, July 4th has become a day of mourning.
ReplyDeleteI'm pretty happy he is punching China in the face. It's been a one side deal with these commie scum for a long time now. Sadly, libertardians show themselves to be ignorant ideologues as usual. If totally free trade theory is correct, where are those jobs lost to NAFTA?
ReplyDeleteAssociation dictated by Trump. Good idea.
DeleteYou think NAFTA was a totally free trade agreement?
DeleteIf there is an agreement between States, it isn’t free trade. I never considered that it was a one sided deal with the Chinese when I was buying goods I wanted made in China. You are more of a fallacy manager I think.
This is real life, not a game of Risk, you idiot.
DeleteYes, Joshua, I'm smart enough to know NAFTA was not free trade, but it was sold as such and libertardians worship at the alter of free trade.
DeleteI agree with you JB. NAFTA was not a totally free trade agreement. Also, free trade is not one-sided. Both sides enter into it voluntarily because they value what they are acquiring more than the dollars they have to part with to get it.
DeleteAs usual, TLM doesn't have a clue. Trump isn't just punching China in the face, he's punching the US consumer in the face because tariffs cause them to pay higher prices paid for tariffed-goods.
Derek F, so what goods will go up meaningfully in price to negatively impact me or most consumers? I've only been buying refurbished laptops or desktops once in a while and doubtful that a nickel or dime from a tool or consumable from Harbor Freight will drastically lower my standard of living if the cost are passed on at all.
DeleteIt seems China is a the petty one here and has no desire to elevate itself to Western standards of contract law integrity.
This seems weird. The president cannot order companies. It is outside of his powers. But I guess it works if people belive it.
ReplyDelete