Economy

Dumb Trump Lies: My Most Asked Question at G7 is ‘Why Does American Media Hate America?’

Posted by on August 25, 2019 at 12:20 pm. 3 Comments :

The leaders of the seven largest national economies in the world (the Group of Seven, or G7) are currently meeting in Biarritz, France. There is surely much to discuss about international trade, currencies, investments, labor, the climate crisis, and more. But Donald Trump, alone among his colleagues, is fixated on an issue that has long been a fetish that he can’t seem to shake off.

Donald Trump

While in France Trump has predictably tweeted up a storm about a variety of matters that have nothing to do with the G7 summit. He wished happy birthdays to Sean Connery and Regis Philbin. He thanked Fox News clowns Diamond & Silk for a flattering tweet that was more than a month old. He defended his blasphemous assertion that he was “the Chosen One” and the “second coming of God.” And he kept his Twitterati apprised of every time he had a meal.

However, by far Trump’s pronouncements revolved around his paranoid obsession with the media. It’s a topic so consuming that he virtually ignores everything else going on at at this annual gathering. At least seven times he whined about one complaint or another with the press that he regards as “the enemy of the people.” And this hyper-concentration on this subject managed to make the full circle back to a bizarre projection of his own neuroses onto others. In the course of this dissembling, Trump manufactures flagrant lies to support his delusions. For instance:

So Trump wants people to believe that the heads of the world’s biggest countries are all concerned, not with critical matters of international economics, but with Trump’s personal battle with the press that he despises. He tries to pretend that the problem is with media hating America, as opposed to the media simply doing its job by reporting on him and his administration’s efforts to ignore looming threats. He is not America. Trump also accuses the press of rooting for the country to fail when, in fact, they are only covering the very real danger signs in the economy. Dangers that he himself is responsible for, and may even have intended for his own benefit.

In addition to this ludicrous assertion that all the other world leaders are hounding him with questions about the press, Trump also tweeted that “The Media is destroying the Free Press!” Which is like saying that the shoes are destroying those things you wear on your feet. He claimed the press is trying to “force a Recession.” Which, if the past is any indicator, would likely hurt the media more than most other businesses. He said that the media’s purpose in destroying itself is to hurt his prospects for reelection. Which is a pretty unselfish thing to do, don’t you think?

Trump also tweet-bragged about disreputable polling in order to stroke his own fragile ego. But he forgot to note that even a couple of his favorite pollsters showed him at low points of the year. And he twice ranted about Fox News hiring former Democratic National Committee official, Donna Brazile, falsely accusing her of giving Hillary Clinton debate questions. He’s still obsessing over the 2016 election.

It would be nice to say that the American people can rest assured that their President is hard at work in France, hammering out global solutions with other leaders. But no one thought that was going to happen anyway. As usual, he is embarrassing himself and the country with his ignorance, incompetence, and narcissism. And he continues to make the case for his impeachment and/or commitment to an institution – penal or mental, take your pick.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

The Chosen One ‘Hereby Ordered’ American Companies to Obey the Divine Will of Trump

Posted by on August 23, 2019 at 12:09 pm. 3 Comments :

The severity of Donald Trump’s mental infirmity is expanding at breakneck speed. Just two days after Trump proclaimed himself “The Chosen One,” and retweeted an anti-Semitic conspiracy crackpot who declared that Trump is the “Second Coming of God,” his Assholiness is now barking out deranged orders to his “subjects.”

Donald Trump Tyrant Dictator

In another one of his hallmark tweetstorms, Trump went off the rails, then turned around and dug them up with a backhoe. The subject of this nine-tweet opus was the economy and his daft notion that the Federal Reserve is conspiring against him to hurt his reelection prospects and bankrupt America. Of course Trump knows something about bankruptcy, having had at least six of his own. However this tirade was utterly preposterous and downright dangerous.

For one thing, Trump (as usual) has no idea what he’s talking about. He’s furious that Fed chairman Jay Powell hasn’t cut interest rates. His reasoning is that the economy is doing spectacularly well and a rate cut would make it even better. However, anyone with any knowledge of monetary policy knows that you only cut rates when the economy is weakening. So maybe Trump is inadvertently admitting something there. What’s more, cutting rates would provide a huge financial benefit to Trump personally, which may be the real reason he’s pushing so hard for it.

Trump began his rant by insisting (again) that “The Economy is strong and good.” He ridiculed the idea that a recession might be imminent, contrary to the analyses of most credible economists. He then accused his critics of being “willing to lose their wealth” to defeat him in 2020. Which is pretty unselfish of them, don’t you think? Following that, Trump whined some more about the Fed and then fired off the big question:

That’s right. Trump thinks that the Chairman of the Federal Reserve, who he appointed, might be a more fearsome enemy of the United States than the leader of a hostile nation that carries billions of dollars of U.S. debt, has a stockpile of nuclear weapons, and a standing army of more than 2,000,000. Of course, this question is easy for Trump because he doesn’t regard Xi as an enemy at all. He has repeatedly referred to him as his friend. Which leaves only Powell as the foe who must be vanquished.

Nevertheless, Trump goes on to demean China (which won’t help with future negotiations) as an outlaw nation and asserts that “We don’t need China and, frankly, would be far better off without them.” Within minutes of that tweet the stock market took a precipitous dive. However, the most disconcerting part of it was Trump’s assumption of dictatorial powers that he definitely does not have:

There is absolutely no authority in the Constitution, or any other legal document, that allows the President to issue such orders. It is, in fact, antithetical to the concepts of democracy and free markets. It’s ironic that this Republican president who bellows incessantly about the dangers of socialism, would make statements that only a communist tyrant (i.e. Xi, Putin, Kim) could embrace. And yet, none of his fellow Republicans have said a word to refute him.

As if to underscore all of this idiocy, Trump went on to demonstrate just how ignorant he is about world affairs and economics. His last tweet in this series bragged that “Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China.” The last two and half years? The U.S. economy has always been larger than China. This is like trying to take credit for the Sun being hotter than Pluto.

You have to wonder how Trump’s glassy-eyed disciples can continue to back him when he’s gushing out such ludicrous ideas and proposals. His evangelical supporters haven’t condemned his blasphemous Messiah Complex. And now his GOP backers are silent about his authoritarian commandments and his anti-free-market aspirations for control over American businesses. This type of loyalty has a name, and it’s been said before. Trumpism is not, as he calls it, “the greatest political movement in the history of our Country.” It’s a cult! And it threatens every ideal that Americans have cherished for 243 years.

UPDATE: Trump posted a tweet acknowledging the 600+ decline in the Dow, but made a joke out of it because American businesses and investors (including workers and retirees) losing a fortune is just so funny. But more importantly, he added four more tweets in the afternoon wherein he escalated the tariff disputes with China into a full-blown trade war. Enjoy the coming Great Trump Recession, everybody.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

Blindered Trump Flunky Larry Kudlow Doesn’t See a Recession Now, Or in 2007 Either

Posted by on August 18, 2019 at 11:25 am. 1 Comments :

The past week has generated considerable concern about the state of the economy. And among the most anxious observers is Donald Trump, who knows that his reelection is dependent on being able to tout a positive outlook. However, due to his own ignorance and incompetence, the real world isn’t cooperating. The stock market is down for the third consecutive week. The dreaded “yield curve inversion,” a fairly reliable signal of an imminent recession, took place. And there’s a global slowdown in manufacturing and consumption.

Donald Trump Rally Trash

So how is the Trump White House responding to these warnings that will impact every American? They are sending out their most accomplished liars to peddle utterly false impressions of the health of the economy. Topping that list is Trump’s Director of the National Economic Council, Larry Kudlow. He’s a notorious failure whose record for accurate predictions is almost comical. The President hired him after watching his Trump-fluffing performances on Fox News.

On Sunday morning Kudlow made the news talkies circuit to blatantly mislead the nation about their economic future. His performance was notably ineffective, at least partly because he appeared to be stinking drunk, which the Internet couldn’t help but notice. More importantly, his summary of the rosy scenario that the White House is pitching could not have been more deliberately deceitful. In an exchange with NBC’s Chuck Todd on Meet the Press, Kudlow engaged in this fantasy (video below):

Todd: The private sector seems to be concerned about the trade war with China, that there are some rough waters ahead. Maybe a recession, that those odds have risen. What do you see?
Kudlow: Well, I tell you what. I sure don’t see a recession. […] Most economists on Wall Street towards the end of the week have been marking up their forecasts for the third and fourth quarter. That echoes our view. What we’ve got here, consumers are working at higher wages. They are spending at a rapid pace. They’re actually also saving while they’re spending as an ideal situation. So actually I think the second half of the economy is going to be very good in 2019. No, I sure don’t see a recession.

First of all, it is patently untrue that “most economists on Wall Street … have been marking up their forecasts.” To the contrary, many have been sending up flares to warn of what they see as an inevitable decline. To be sure there are those with more optimistic views, but those types of Pollyannas have always been around just prior to the sky actually falling. Case in point…Larry Kudlow in 2007, who insisted that “The pessimistas were wrong…There’s no recession coming.” That was just a few months before the worst recession in nearly a century:

Kudlow went on to justify his horribly missed call by lying that “Every other forecaster” was saying the same thing. While he was not alone, there were some more accurate predictors, including current presidential candidate Elizabeth Warren. And Warren is cautioning people to be aware of another similar downturn. Some of the indicators are economists’ estimates of third-quarter GDP growth at about two per cent, way short of the four percent that Trump promised. Also, the manufacturing sector is slumping with output that has fallen 0.4 percent in July. Plus, the University of Michigan’s survey-based index of consumer confidence fell sharply in August, reaching its lowest level since 2016.

Meanwhile, Trump is telling his glassy-eyed disciples attending his cult rallies that “You have no choice but to vote for me, because your 401(k), everything is going to be down the tubes. Whether you love me or hate me, you have got to vote for me.” So did Trump just admit that voting for him would result in an economic catastrophe? That would be uncharacteristically honest of him.

Of course, he didn’t actually mean that. He was engaging in his classic brand of fear mongering to make sure his cult followers stay frightened and in line. But the truth is that Trump couldn’t care less about the financial prospects of the American people. He is solely focused on his own interests – either personal finances or reelection – and that is what’s driving everything he does and says. His Deplorables won’t learn that until it’s too late. But hopefully they will be spared that suffering, which can be avoided if citizens come together to vote Trump out or back Congressional efforts to impeach him.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

Trump is Panic-Tweeting Fox News Denials of Imminent Threat of the Trump Recession

Posted by on August 14, 2019 at 12:13 pm. 3 Comments :

In case you haven’t noticed, Donald Trump has failed at nearly everything he promised to accomplish. There is no wall on the southern border. HIllary Clinton has not been locked up. He has no denuclearization deals with Iran or North Korea, no trade deals with China or Mexico or the EU, no infrastructure bill, and Obamacare has neither been repealed nor replaced.

Donald Trump, Stock Market

The one key issue that Trump has been clinging to for two years is his argument that the economy is booming. Let’s set aside for the moment the fact that that isn’t true. Many critical indicators such as wage growth and job creation are lagging (and trailing Obama’s record). But Trump has been using the stock market as his evidence of a strong economy. That, of course, demonstrates his ignorance of economics. The stock market only reflects the value of equities that are mainly traded by giant financial institutions. It is not a gauge of the economies health.

However, now even Trump’s misapplied measuring stick is biting him in the asinine analyses he’s been peddling. On Wednesday the market has fallen off a cliff, and specifically due to Trump’s ill-considered policies on trade and taxes. And the site of this downturn has thrown him into a tizzy of excuse-making. If he doesn’t have this to brag about, he’s got nothing but his racism left to hold his cult together.

Consequently, Trump unleashed a series of tweets intended to shore up the catastrophic financial news of the day. And they leaned heavily on his top economic advisers at the White House – er, I mean at Fox News. Trump’s Shadow Cabinet was busily papering over the bitter truth that everyone can plainly see. And Trump embraced it frantically for fear of having to take any responsibility. Rest assured that he will greedily steal credit for the economic boom times from 2010 to 2017, during the Obama administration, but blame Obama for the crash of 2019.

The tweetstorm began with a familiar Trump whine: “The Fed has got to do something! The Fed is the Central Bank of the United States, not the Central Bank of the World.” Indeed. And the Fed is doing its job. But that job is not to save the stock market. It is to manage inflation and to promote monetary and financial system stability. Trump only wants the Fed to cut interest rates for his own selfish interests. First, he hopes that it would artificially stimulate further over-exuberance in the stock market, boosting his reelection prospects. And secondly, it would reduce his own interest payments on over $350 million dollars of outstanding variable interest loans.

The next tweet was another Fox News reference wherein they blindly praised Trump’s tariffs saying that “you can’t tell me that it has hurt our economy.” That’s obviously true. Not the part that tariffs haven’t hurt the economy (they have), but the part where he says you can’t tell him that. And you can’t tell Trump that (or anything) either. It’s like yelling a non-existent border wall. He will continue to tell the same lies, even after he’s been proven to have lied.

Trump then tweeted that “Tremendous amounts of money pouring into the United States,” because “People want safety!” That completely contradicts the movement in the markets. Then Trump quote-tweeted another Fox flunky who said that Fed Chair Jay Powell was making mistakes by, among other things, being “data dependant.” Because why would anyone want to rely on actual data to make important decisions? That’s goes against the core philosophy of the Trump Doctrine of Alternative Facts.

LATE ADDITION: Trump squeezed out another couple tweets on this subject in the afternoon. One declared defensively, and without foundation, that “We are winning, big time, against China,” before deciding that “China is not our problem … Our problem is with the Fed.” That led into the second tweet that lashed out at “clueless Jay Powell” and the “CRAZY INVERTED YIELD CURVE!” This was not only a display of Trump’s wildly unbalanced mental state, but further evidence that he doesn’t have any idea what he’s talking about.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

So as the stock market descends, Trump grasps for support from his State TV fluffers who he knows will always prop him up, no matter how ludicrous and desperately they have to revise reality. There is no coherent argument that justifies Trump’s failures but, fortunately for him, Fox News is adept at spinning lies for any occasion. And the glassy-eyed Deplorables will believe anything that Dear Leader tells them.

Here’s Why Trump is So Obsessed with the FED and Doesn’t Care if the Economy Tanks

Posted by on July 31, 2019 at 3:01 pm. 9 Comments :

For much of his presidency, Donald Trump has been railing against the Federal Reserve Board (FED) for not being a mindless functionary that obeys his every command (like his incompetent Cabinet and the GOP jellyfish in Congress). What he obviously doesn’t understand is that there is a reason that the FED was designed as an independent agency that is insulated from pressure by the White House. Their objectives are often not aligned.

Donald Trump, Stock Market Crash

Trump would very much like to see the FED cut rates because all he is looking for is the short-term stimulative effect that a rate cut has on the stock market. That’s partly because he wants to artificially boost the market in advance of the 2020 presidential election. He often uses the market as a gauge for the health of the economy. That’s a viewpoint that only someone utterly ignorant about these matters could hold. The performance of the stock market only tells you what institutional investors think about the valuation of equities, which fluctuate independent of the broader economy. The economy, on the other hand, is comprised of many other factors such as consumption, employment, wages, trade, and inflation.

Trump has very likely been advised that there are flashing warning signs that the stock market is heading for a significant decline. It is currently in the midst of the longest bull market in history. That isn’t something to brag about. It means we are overdue for a correction. Homes sales, wage stagnation, depressed treasuries, illiquid credit, and the exploding debt, are all indicators that generally forecast a recession or worse.

But Trump doesn’t care about that. He has another motivation for cutting interest rates that is entirely personal. Contrary to his thoroughly bogus branding, Trump is failed businessman who has racked up hundreds of millions of dollars in debt, much of it with variable-rate loans. When he took office in 2017 he was the most indebted president in history, owing more than $350 million to Deutsche Bank alone. That debt is expensive to service. But when interest rates go down, so do the costs of servicing debt. Bloomberg reports that prior rate increases “may raise President Donald Trump’s cumulative cost from the U.S. central bank’s hikes since his inauguration to $6 million per year.”

So Trump has a distinct personal benefit when interests rates decline. That, and the political benefit of artificially (and temporarily) goosing the stock market, makes it wholly inappropriate for him to be battering the FED to lower rates with such ferocity and hostility. Were the FED to buckle to his demands it would leave the nation with no tools to respond when a real economic crisis occurs. That would result in what might have been a mild and manageable correction turning into a full blown recession.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

As usual, the people who would be hurt most by that would be the lower and middle income families whose savings would deplete and whose jobs would disappear. The rich would suffer a decline in their net worth, but would remain rich and well positioned to profit when the economy turns around. That is a built-in inequity in our economic system that advantages the wealthy by design. And Trump is purposefully exploiting it for personal gain, without the least bit of consideration for the harm it will cause to millions of working Americans.

Trump Misreads Poll on Support for His Impeachment, Posts Absurdly Wrong Numbers

Posted by on July 23, 2019 at 2:47 pm. 1 Comments :

The President of the United States is presently the subject of a rare debate over whether he should be impeached for crimes committed by him and/or his associates. While other presidents have been accused of high crimes and misdemeanors, none have been suspected of treasonous conspiracies in conjunction with foreign enemies. This is a situation unique to Donald Trump.

Donald Trump Impeach

Consequently, public polling on whether Trump should be impeached has emerged as an important gauge of his ability to endure another term in office, or even complete his first. And his historically low approval ratings isn’t helping him any. That may be why he is now disseminating obviously false information that makes his situation appear somewhat less dire. On Tuesday morning Trump tweeted this:

Notice that Trump didn’t bother to provide a link to the poll he referenced. That’s a common tactic he employs to prevent people from discovering that he’s a lying jackal. This tactic works well among his Deplorables who will believe whatever he says, even when there’s proof that he’s lying. But for the rest of us, we have to try harder to find out what the heck he’s talking about.

In this case, there is only one recent poll regarding impeachment with an 11 percent result. It’s the YouGov survey published July 18. This poll asked “Do you think the U.S. House of Representative should or should not try to impeach President Trump?” The overall response was 36 percent YES, and 45 percent NO. So where did Trump get 11 percent? That was the number of Republicans who said that he should be impeached. Democrats favored impeachment by 64 percent. So Trump is trying to pass off the GOP-only number as the number for all Americans.

For a bit of contrast, a Twitter user replied to Trump’s tweet with a Twitter poll of his own. At the time of this writing, 77 percent of more than 22,000 votes favored impeachment, while 22 percent did not. Of course, this is not a scientific poll, but it’s revealing that such a large majority of voters on Trump’s own Twitter feed want to see him impeached.

This isn’t the first time that Trump has gotten poll results horribly wrong. On one occasion, Trump retweeted a Fox News report that put his overall approval at 55 percent. Fox later admitted that they made a mistake and that the real number was 43 percent. In a rare correction Fox took down their story but, three months later, Trump still has not.

On another occasion, Trump bragged about the results of a Fox News poll that doesn’t actually exist. He said that his approval among African-Americans in this imaginary poll among was 40 percent. That’s not even close. It’s actually in single digits. A recent Washington Post poll put the number at three percent.

And then there was the time that Trump boasted about a poll showing him with 52 percent approval. Of course that was also in error. The 52 was really his disapproval. His approval in this case was only 44 percent.

Almost everything else in Trump’s tweets is also wrong. He’s taking credit for economic success that is almost totally attributable to his predecessor, President Obama. Stock market and jobs stats increased more during Obama’s administration than in Trump’s. And his tax cuts, regulatory moves, tariffs, and trade wars, were demonstrably harmful to the economy and particularly working people.

It’s hard to say whether all of this misreporting was the result of his poor comprehension skills or deliberate deception. Neither is a very good option. But we have a very serious problem when the President of the United States can’t grasp the results of a simple survey, and has no interest in ever setting the record straight when he’s wrong.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

What’s more, his attempt at mockery by saying “Gee, let’s impeach the President,” forms the core of his argument against impeachment. He thinks that if the economy is strong, there is no justification to impeach. But that’s nonsense. Impeachment is called for if the President is found guilty of high crimes and misdemeanors. And if he is, it doesn’t make any difference what the state of the economy is. A president who breaks the law during good times is still a criminal. But that’s just another simple concept that Trump is incapable of understanding.

Trump Suffers Fit of Hysterical Projection Syndrome in Desperate Attack on Joe Biden

Posted by on July 6, 2019 at 12:24 pm. 0 Comments :

For nearly two and a half years Donald Trump has been a walking textbook of debilitating psychoses. He has displayed symptoms of malignant narcissism, dementia, senility, paranoia, and antisocial personality disorder (aka sociopathy). He is a sexual predator and a bully who resorts to infantile behaviors when angry or afraid. And a group of psychiatric doctors and academics at Yale University deemed him “too mentally ill to serve.”

Donald Trump, Joe Biden

Now a new diagnosis can be made that describes Trump’s relentless determination to accuse others of what he does himself. The surest indicator of whether Trump has committed a crime is when he blasts out charges at someone else for the same criminal activity. And when that tendency reaches absurd levels of mania, as it so often does with Trump, we can call it Hysterical Projection Syndrome. And history will record Trump as Patient Zero for this malady. He presented a perfect example of it on Saturday morning with a frantic tweet (of course) aimed at Joe Biden, which we can break down to fully observe the depths to which Trump’s illness have driven him.

First of all, there’s no way Trump wrote this tweet. Too many syllables. More to the point, Trump begins by disparaging Biden as “a reclamation project” who is “not salvageable.” Both of those terms are thinly veiled insinuations about his age. Trump has also attached one of his childish nicknames – Sleepy Joe – to Biden. However, while Biden is 76 years old, Trump is 73 years old. And he is the laziest president in history. It has been reported that he doesn’t start his work day until 11:00 am, after his morning routine (executive time) of watching Fox News. And he has played more golf (at his resorts from which he profits) than any president before him.

Secondly, Trump says of Biden that China is “begging for him.” We’ll set aside the fact there is no evidence to support that charge. Trump is implying that China likes Biden and wants to deal with him. But that’s exactly what Trump says about his own relationship with China’s Xi Jinping. How can he criticize Biden for allegedly having the sort of relationship that he brags about having himself?

Third, Trump says that Biden “deserted our military.” Again (and as is true about almost everything Trump says) there is no support for that charge against Biden. Although there is abundant support for it against Trump. He is a five-time draft dodger. He insulted all POWs for having been captured. He denigrates Gold Star families who are not Trump sycophants. He terminated healthcare and other services for vets. And he deported veterans who served in combat despite not being citizens.

Fourth, Trump also baselessly said that Biden deserted law enforcement. However, it is Trump who has viciously attacked the FBI, the Department of Justice, and others in law enforcement. Notably, he does that primarily to tarnish their reputations when he is the subject of an investigation – of which there are many. Trump is against cops for the same reason bank robbers are: They make it harder for him to get away with his crimes. So he goes ballistic. His vile attacks on special counsel Robert Mueller have included charges of lying, corruption, conflict of interest, and even treason.

Fifth, Trump also said that Biden deserted healthcare. Of course, he was at President Obama’s right hand when the Affordable Care Act was passed. Trump, on the other hand, has worked hard to sabotage it and is currently supporting a lawsuit that could result in killing it entirely. He has no plan to replace it or to preserve the most popular provisions, including coverage for those with preexisting conditions.

Sixth, Trump complains about the national debt, which is rising to a record $22 trillion dollars under his administration. Much of that is due to his own tax bill that provided corporations and the wealthy with steep and undeserved tax cuts. The Congressional Budget Office projects that Trump could add roughly the same amount of debt as Obama over two terms. However there’s a big difference between the two. Obama took office in the depths of the Bush recession when deficit financing was required to spur the recovery.

Trump, on the other hand, inherited a booming economy, which is the best time to pay off debt. But he nevertheless managed to increase it without any discernible gain. As Forbes Magazine (not exactly a bastion of liberalism) reported, “Trump’s deficits as a percent of GDP will exceed any other President’s during a time of economic expansion.” And the stock market, which Trump likes to use as a gauge of his success, performed far better during Obama’s term. The S&P 500 rose 66.2 percent under Obama, but less than half that (31.1%) under Trump.

Finally, Trump closed this tweet with the exclamation that Biden “Won’t win!” Well, that may be true. He may not even be the Democratic nominee. But the likelihood that Trump will win is pretty low considering that he is currently trailing all of the top Democratic contenders. And his approval rating is historically low. He is the first president ever to never crack 50 percent in approval.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

That’s a lot of flaming wrongness by Trump in one little tweet. And all of the whining about Biden actually applies much better to Trump. It’s important to acknowledge just how delusional he is as we approach the coming 2020 election. Trump’s psychological infirmities need to be a part of the campaign for all Democrats. He must be exposed as not just another callous and greedy Republican, but as an incompetent whose ignorance, hostility, and mental imbalance puts the whole nation – and world – in danger.

Trump’s Lies About China Paying Tariffs Gets Fact-Checked Live – On Fox News!

Posted by on May 12, 2019 at 11:00 am. 5 Comments :

America is currently suffering through a historically unique period wherein it is being misled on a daily basis by both it’s president and the State TV network (aka Fox News) that is propping him up. Donald Trump has been documented to have told more than 10,000 lies since his inauguration. And the pace of those falsehoods is increasing as he gets ever more desperate due to the unfolding web of criminality that he is frantically trying to cover up.

Donald Trump

The risk this poses for the country is significant. Trump doesn’t care how dishonest his impotent rants are, so long as they provide a distraction from his impending legal jeopardy. And he doesn’t even care if they introduce threats of war or other serious harm to the nation – and the world. Representative of that reckless disregard for the welfare millions is an entirely manufactured economic crisis that Trump has latched onto with fanatical fury. His shameless ignorance of economic and fiscal affairs is the real crisis that America faces.

Last week Trump threatened China with increased tariffs if they didn’t capitulate to demands that Trump seems obsessed with but refuses to specify. He tweeted repeatedly that China would suffer if they didn’t comply, throwing the stock market into a tizzy that produced a 600 point drop. Trump believes (or pretends to) that the tariffs he seeks to impose would be paid by China. Probably around the same time that Mexico pays for his idiotic border/vanity wall. He even said that the tariffs would be more financially advantageous than actual trade with China.

Every economist with a pulse knows that tariffs are not paid by countries. They are paid by the importing businesses (i.e. U.S. companies), and those costs are generally passed on to U.S. consumers. It’s a de facto tax that would burden every American family. Nevertheless, Trump tweeted or retweeted his ignorant assertions twenty-six times just in the past week. He is apparently impervious to the facts and logic associated with this (or any) issue.

On Sunday morning Trump’s stubbornness was brought into the spotlight by his favorite “news” network Fox News. His Director of the National Economic Council, Larry Kudlow, was interviewed by Chris Wallace, when the subject of tariffs came up. Kudlow tried to obediently tow the Trump line, but his embarrassing failure to do so resulted in this exchange (video below):

Wallace: It’s not China that pays tariffs. It’s the American importers, the American companies that pay what is, in effect, a tax increase, and oftentimes passes it on to U.S. consumers.
Kudlow: Fair enough. In fact, both sides will pay. Both sides will pay in these things.
Wallace: But the tariffs on goods coming into the country, the Chinese aren’t paying.
Kudlow: No but the Chinese will suffer GDP losses and so forth, with respect to a diminishing export market and goods that they may need…
Wallace: I understand that. But the President says that China pays the tariffs. They may suffer consequences, but it’s U.S. businesses and U.S. consumers who pay, correct?
Kudlow: Yes, to some extent. I don’t disagree with that. Again, both sides will suffer on this.

First of all, as Wallace pointed out, whether or not China suffers GDP losses is a completely different question than who pays the tariffs. And Trump said explicitly that China’s “massive payments go directly to the Treasury of the U.S.” That’s a lie that even Kudlow couldn’t support. Trump also said that “Tariffs will make our Country MUCH STRONGER, not weaker.” Which Kudlow unequivocally contradicted by saying that “both sides will suffer on this.”

That last comment should ring in the ears of all Americans. Trump’s chief economic advisor admitted on national television that Trump is causing the U.S. to suffer. Many Americans already know that. Particularly the farmers who have already been hurt so badly by Trump’s tariffs that he had to promise them a bailout paid for by every other American.

And you can add to the list of sufferers all of those impacted by Trump’s sabotage of ObamaCare; those dealing with the effects of natural disasters, especially in Puerto Rico; those whose wages have been stagnant for years as Trump’s Republican Nationalist Party opposed increasing the minimum wage; and those residing on a planet that is rapidly deteriorating due to deliberate abuse in pursuit of profit. When it comes to making other people suffer, Donald Trump can finally take credit for really being the best at something.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

Trump’s Pitiful Ignorance of Fiscal Policy is Driving His Dangerous Assault on America’s Economy

Posted by on April 30, 2019 at 2:34 pm. 2 Comments :

The risks posed by the unprecedented incompetence of Donald Trump are more apparent with each passing day. He has damaged our nation’s relationships with decades-long allies, while cozying up to hostile enemies. He has maligned Americans in politics and the press as corrupt, dishonest, and even treasonous. His agenda is one of tearing down the accomplishments of his predecessors and replacing them with empty rhetoric or worse, policies that significantly harm the American people.

Donald Trump, Stock Market

Trump was frighteningly unprepared for the presidency and he hasn’t bothered to study up for the job since assuming it. One of the areas where Trump has the least amount of knowledge is the economy. He has repeatedly demonstrated that he would not allow his stupidity to get in the way of his boneheaded initiatives. His notion that we should ignore the numbers and “feel” the market is just as dumb as it sounds. And the tendency on his part to plow right ahead despite having no clue what he’s doing was evident in his tweets Tuesday morning:

For starters, Trump should not be using China as a model for U.S. fiscal policy. China is a holy mess right now. And with regard to his claim that the Fed has “incessantly lifted interest rates,” he is either lying or comatose. Rates currently stand at a historical low of 2.5 percent, and they have been there since last December. Nevertheless, Trump believes that Interest rates should be cut, something that isn’t done if the economy is expected to be strong. That’s when interests rates usually are hiked as a hedge against inflation, and a cushion in the event of a downturn or recession.

The Fed is currently in a holding pattern. That is generally an indication that they anticipate weakness going forward. To the extent that cutting rates would provide a boost to the economy, Trump is way off base. They might temporarily boost the stock market, but the stock market and the economy are two different things. Besides, the last thing we want is a market that “goes up like a rocket.” That sort of volatility, more often than not, results in a crash landing.

Let’s face it, the only thing Trump cares about is appearances. He wants a facade of economic strength going into the next election cycle. He admitted as much in his tweet with his ludicrous suggestion that lower rates would “make our National Debt start to look small.” Setting aside the fact that that doesn’t make any sense at all, it is also very different than having a national debt that actually is small.

It was Trump and his Republican Nationalist Party that shoved through a tax bill that added trillions to the debt while shifting the tax burden from corporations and the wealthy to working families and the poor. And Trump is still committed to addressing the new debt that he created by cutting programs like Medicare and Social Security. That’s an agenda that is overwhelming opposed by broad majorities of the American people. Let’s be sure that they find out about that before it’s too late.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.

To Sarah Sanders: If Congress is Too Dumb to Understand Trump’s Taxes, Releasing Them Can’t Hurt

Posted by on April 14, 2019 at 12:20 pm. 5 Comments :

Donald Trump’s media relations have been a case study in both a totalitarian hostility toward the free press and a narcissist’s obsession for attention and adulation. He has repeatedly referred to the media in Stalinist terms as “the enemy of the people,” while lashing out personally at journalists and networks that he doesn’t think are sufficiently adoring.

Donald Trump

Trump’s White House has all but abandoned the daily press briefings that every other president in modern times has held. But he continues to send his press Secretary, Sarah Huckabee Sanders, out to the same TV news networks that he maligns. While there she does nothing but disseminate flagrant lies, packaged propaganda, and irrational defenses of her bosses many offensive utterances. Case in point: Sanders went on Fox News Sunday with Chris Wallace to try to shore another bad week for Trump. When the subject turned to the President’s stubborn refusal to release his tax returns, Sanders let this bull fly (video below):

“Frankly, Chris, I don’t think Congress – particularly not this group of congressmen and women – are smart enough to look through the thousands of pages that I would assume that President Trump’s taxes will be.”

Seriously? Trump’s first responses to this question were promises that he would release his taxes and would be happy and proud to do so. That later shifted to a lie about being audited, which he said prevented him from releasing his returns. It doesn’t. Most recently he has just declared that he isn’t going to do it under any circumstances. Which should cause any thoughtful citizen to wonder why he’s lied for so long and what terrible things he is trying to hide?

But for Sanders to make such a vicious ad hominem attack on the entire institution of Congress only escalates the suspicions that Americans should have. After all, it is the job of Congress to conduct oversight on matters like this, and many members have professional experience and training in economics. The insult by Sanders is just a lame attempt to avoid the real issues that concern Trump’s corruption and nefarious business relations that may include Russians.

If Sanders thinks Congress is too dumb to comprehend Trump’s taxes, why does the White House she represents think they are capable of developing a new healthcare plan; or ratifying international treaties; or passing Trump’s Tax Scam; or regulating everything from energy to banks to defense policy? Her scattershot slander only reinforces this administration’s aversion to the American ideal of democratic self-rule. According to Trump World, we’re all too stupid to be allowed any such privilege.

However, if Sanders really believes what she’s saying, then why would she have any objection to Trump’s taxes being released right now? After all, Congress won’t be able to understand them, so what’s the harm? In reality, this is just another example of projection by Trump and company. This is a man so inept that he bankrupted four casinos. He is the one who is so painfully idiotic that he can’t comprehend even simple matters, particularly about the economy. Take for instance his Sunday morning tweet about the Federal Reserve Board:

None of that is true. It’s pure fantasy to suggest that the Dow would be 10,000 points higher, even if the Fed did what Trump wants. But they can’t do it because lowering interests rates when the economy is already overheated would result in inflation and a massive stock selloff as investors sell equities and shift into bonds. What’s more, if a recession should result (a real probability), there would be no way to mitigate its harm by lowering interest rates further. It’s a recipe for a depression. But that’s where this administration is determined to take us. They just hope it occurs after a Democrat is elected next year so they have someone else to blame.

How Fox News Deceives and Controls Their Flock:
Fox Nation vs. Reality: The Fox News Cult of Ignorance.
Available now at Amazon.