Showing posts with label economic down turn. Show all posts
Showing posts with label economic down turn. Show all posts

Tuesday, December 25, 2018

Time for GOP to Fire Trump


One has to wonder how bad and debased things in the White House need to become before Congressional Republicans reach the point of telling Donald Trump "you're fired."  Some have conjectured that this will happen only when the financial interests of the very wealthy and big business become significantly harmed.  With the stock market plunging and trade uncertainties rising, that point may be near at hand.  Add to this the rapid degrading of the United States' position in the world, and a perfect economic storm may be on the horizon - a storm that can be averted by restoring sanity and stability to the White House. I have absolutely no desire to see Mike Pence in the White House - hopefully Mueller will implicate him in Trump's treason with Russia - but something must be done to end the rampant chaos and criminality that define the Trump regime.  A column in the New York Times argues why Republicans need to accept the fact that  Trump needs to be removed, preferably sooner than later.  Here are column excerpts:
Up to now I have not favored removing President Trump from office. I felt strongly that it would be best for the country that he leave the way he came in, through the ballot box. But last week was a watershed moment for me, and I think for many Americans, including some Republicans.
It was the moment when you had to ask whether we really can survive two more years of Trump as president, whether this man and his demented behavior — which will get only worse as the Mueller investigation concludes — are going to destabilize our country, our markets, our key institutions and, by extension, the world. And therefore his removal from office now has to be on the table.
I believe that the only responsible choice for the Republican Party today is an intervention with [Trump] the president that makes clear that if there is not a radical change in how he conducts himself — and I think that is unlikely — the party’s leadership will have no choice but to press for his resignation or join calls for his impeachment.
It has to start with Republicans, given both the numbers needed in the Senate and political reality. Removing this president has to be an act of national unity as much as possible — otherwise it will tear the country apart even more. I know that such an action is very difficult for today’s G.O.P., but the time is long past for it to rise to confront this crisis of American leadership.
Trump’s behavior has become so erratic, his lying so persistent, his willingness to fulfill the basic functions of the presidency — like reading briefing books, consulting government experts before making major changes and appointing a competent staff — so absent, his readiness to accommodate Russia and spurn allies so disturbing and his obsession with himself and his ego over all other considerations so consistent, two more years of him in office could pose a real threat to our nation.
The damage an out-of-control Trump can do goes well beyond our borders. . . . Donald Trump has proved time and again that he knows nothing of the history or importance of this America. That was made starkly clear in Secretary of Defense Jim Mattis’s resignation letter.
Trump gloats at the troubles facing the European Union, urges Britain to exit and leaks that he’d consider quitting NATO. These are institutions that all need to be improved, but not scrapped. If America becomes a predator on all the treaties, multilateral institutions and alliances holding the world together; if America goes from being the world’s anchor of stability to an engine of instability; if America goes from a democracy built on the twin pillars of truth and trust to a country where it is acceptable for the president to attack truth and trust on a daily basis, watch out: Your kids won’t just grow up in a different America. They will grow up in a different world.
But this is not just about the world, it’s about the minimum decorum and stability we expect from our president. If the C.E.O. of any public company in America behaved like Trump has over the past two years — constantly lying, tossing out aides like they were Kleenex, tweeting endlessly like a teenager, ignoring the advice of experts — he or she would have been fired by the board of directors long ago. Should we expect less for our president?
That’s what the financial markets are now asking. For the first two years of the Trump presidency the markets treated his dishonesty and craziness as background noise to all the soaring corporate profits and stocks. But that is no longer the case. Trump has markets worried.
The instability Trump is generating — including his attacks on the chairman of the Federal Reserve — is causing investors to wonder where the economic and geopolitical management will come from as the economy slows down.
We are now left with the B team — all the people who were ready to take the jobs that Trump’s first team either resigned from — because they could not countenance his lying, chaos and ignorance — or were fired from for the same reasons.
I seriously doubt that any of these B-players would have been hired by any other administration. Not only do they not inspire confidence in a crisis, but they are all walking around knowing that Trump would stab every one of them in the back with his Twitter knife, at any moment, if it served him. This makes them even less effective.
If America starts to behave as a selfish, shameless, lying grifter like Trump, you simply cannot imagine how unstable — how disruptive — world markets and geopolitics may become. We cannot afford to find out.

Thursday, April 05, 2018

China’s Retaliatory Tariffs Will Hit Trump Country Hard

Areas to be impacted by China tariffs.
Donald Trump, a/k/a Der Trumpenführer,  seems hell bent on sparking a trade war with China.  Since Trump seemingly listens to no one and finds even briefings of more than a single page too taxing to read, perhaps he was oblivious to the fact that China would not just roll over and play dead when hit by tariffs by Trump.  Perhaps all he was focused on was bluster and "tough guy talk" so loved by his (in my view) cretinous/racist base.  In any event, China announced that it would play tit for tat and impose its own round of tariffs.  What is almost enough to make a progressive smile, is that China's proposed tariffs will hit Trump voting red states particularly hard.  Indeed, some states could find their economies significantly damaged and, rather than bring better economic times, Trump would have delivered economic hardship to his most loyal supporters.  China definitely knows how to deliver pay back to Trump.  Here are highlights from a piece in the Washington Post:

It was inevitable that China would respond in kind to tariffs levied against it by President Trump. [Trump] the president argued that the trade deficit and Chinese theft of intellectual property necessitated taking economic action. But the net effect is that China also will charge more for American products to enter its country — tariffs that are likely to affect places whose residents voted for Trump more significantly than voters in other areas.
The products to which China will add additional duties include manufactured products such as airplanes and vinyl records. (For some reason.) But they will also apply tariffs to a number of agricultural goods, according to CNBC, including:·        Yellow soybeans
·        Black soybeans
·        Corn
·        Corn flour
·        Uncombed cotton
·        Sorghum
·        Other durum wheat
·        Other wheat and mixed wheat
·        Tobacco
It won’t surprise you to learn that agricultural areas produce most of these goods. And rural areas supported Trump over Hillary Clinton in the 2016 election.
Take soybeans. Soybeans are heavily produced in the Mississippi River region . . . A tariff on soybeans affects a lot of places that backed Trump.
We can do the same thing for other products on the list, such as corn, which is heavily produced in the upper Midwest — a region that helped propel Trump’s narrow electoral-vote victory.  The map for wheat is dramatic, encompassing wide swaths of the country, mostly red.
[A]ny action taken by Trump that might negatively affect agriculture is almost necessarily going to affect places that preferred him to Clinton by a lopsided margin.
That seems clearly to be the case with the duties China will apply in retaliation for Trump’s tariffs.


Should these tariffs be implemented, frankly, I will find it difficult to not smile at the self-inflicted suffering of Trump voting regions. Deliberately put an unfit, racist, morally bankrupt individual in the White House and you deserve whatever misfortunes come your way.  Actions do have consequences.