Stock Market

Trump’s Tariff Wars Will Destroy Agriculture, Dramatically Raise Company Expenses And Prices, Cause Massive Consumer Price Inflation, And Rising Unemployment

Donald Trump has announced a “Tariff War” against China, as the primary target, but also against most of our trade partners.

In so doing, he is guaranteeing a disastrous economy down the road.

In 1930, Herbert Hoover went along with the Smoot Hawley Tariff, and it helped make the Great Depression, which has begun months earlier, become an ever greater calamity.

But Donald Trump knows nothing about Herbert Hoover, and nothing about the effect of “tariff wars”.

So expect economic calamity, including American agriculture unable to sell their products overseas, causing a massive farm depression.

And expect that businesses will be harmed, and will start to raise prices, and those will be passed on to the consumers, all of us.

We will be paying a lot more for food, clothing, technology, and industrial goods of all kinds.

Also, many businesses, if they lose revenue, will lay off tens of thousands of workers, causing a massive rise in the unemployment rate.

And just today, the stock market reacted by losing nearly three percent, and dropping 724 points, and this will not be a one day phenomenon.

Donald Trump is destroying the revived and prosperous American economy accomplished by Barack Obama in his eight years in office.

It is almost as if he is purposely doing everything he can to wipe out the memory of our first African American President.

We have a very sick, demented President, and the nation is suffering, and will suffer ever more until he forced out of the Presidency, and it cannot come fast enough!

88 Months of Job Growth, All Time Record, So Future Is Economic Recession, Just A Question Of When And How Severe

America has experienced 88 months of job growth and an improving economy, an all time record, so the future is economic recession, with the only question being when and how severe it will be.

It is like gravity, in that what goes up must come down, and Donald Trump has been bragging as if he created the economic growth, when it was the contribution of Barack Obama, who was overseer over the greatest economic recovery in American history, and without war.

Franklin D. Roosevelt is credited with helping to solve the Great Depression in the 1930s, but it took until war spending for World War II for the recovery to be totally successful, while Obama avoided a major war, and created the economic conditions that now Trump is making it as if he did it all by himself in the past year.

Trump came into office with a great economy, while Obama came in at the worst time since Herbert Hoover, and had to deal with what we call the Great Recession.

As I write this, the stock market has had its two worst days in two years, losing 666 points on Friday, and 1175 on Monday, making for the greatest two day loss in stock market history. The market actually went down 1579 before it revived to 1175 by the close of trading. So it went down in the past two days by 1840, a total of seven percent of the stock market.

It will be interesting to see how Donald Trump reacts to this, since he loves to give himself credit for the improvement in the stock market, even though it was steadily rising under Barack Obama, who he will never give credit to on anything.

if the economy falters, Trump will lose a lot of his supporters, and his public opinion polls will collapse into the 20s instead of the low to mid 30s where it is right now.

Trump Tax Cuts Already Undermining Budget, And Threatening Social Safety Net Of Social Security, Medicare, Medicaid

The Trump tax cuts are already, just as they are going into effect, causing a massive shortage of government funds, and threatening the stability of the Social Safety Net of Social Security, Medicare, and Medicaid, and as well as educational, environmental, consumer, and labor laws.

This is precisely what the Republican Party of Speaker of the House Paul Ryan, Senate Majority Leader Mitch McConnell, and the Trump White House wants, to destroy the entire social and economic reforms and regulatory laws of the New Deal of Franklin D. Roosevelt, the Great Society of the Lyndon B. Johnson, and the reforms of Barack Obama, along with lesser reforms of Harry Truman, Dwight D. Eisenhower, John F. Kennedy, Richard Nixon, Jimmy Carter, George H. W. Bush, Bill Clinton and George W. Bush.

The Republican Party is now an extremist right wing party controlled by the Freedom Caucus and evangelical Christians, who will not be satisfied until they take America back to the 1920s and the Gilded Age.

And this past week, the beginning of the end of what is now 88 months of economic expansion and job growth is evident, as today, the stock market collapsed with a 670 point drop, and a 1,000 point drop over this entire week. This is the biggest drop in two years, about 2.5 percent in the past week. It is also the biggest drop since the financial crisis of late 2008, which led to the Great Recession.

This was predictable, as no market or economic growth can continue to expand forever and already, the seven years and four months of expansion, since the last months of 2010, is an all time record.

We will go through very rough times from now on, and yet the wealthy top one or two percent will continue to gain massive tax cuts, while the rest of America suffers.

We are on the road to potential social uprising, as the American people realize that a President who lost the popular vote, and has engaged in illegal acts, works to undermine the investigation of Russian collusion, money laundering, abuse of power, violating the emoluments clause, and obstruction of justice, at the expense of the American people, but makes sure his class of wealthy people continues to benefit.

The Trump public opinion rating in the mid 30s is likely to collapse into the 20s at this rate, but will the Republican Party try to rectify itself in Congress, or will they continue to collaborate in treason and corruption, and destroy their historical legacy long term?

We shall see in the months leading up to a likely massacre in the midterm elections this November.

State Of the Union: Lowest Watched In A Generation, Teleprompter Speech Soon To Be Forgotten, Except For Anti Immigration Pitch, And Exaggeration Of Trump Economic Accomplishments

Donald Trump’s State of the Union Address was the lowest watched in a generation, a teleprompter speech soon to be forgotten, except for his anti immigration pitch.

He said he would grant Dreamers under DACA the allowance to remain and a path toward citizenship, which will infuriate nativists.

But in exchange, family of all immigrants beyond immediate family would be barred from migration, ending what Trump called chain migration or family reunification. Immediate family is only spouses and minor children, and parents, siblings, and adult children of immigrants would be barred, as he calls them “distant” relatives. This has nothing to do with if any have committed criminal acts. This statement of Trump led to a noticeable reaction of boos by Democrats, and rightfully so.

How heartless and uncaring Trump displays himself to be about family members! This is clearly the work of racist and nativist aide Stephen Miller.

What native born American would feel that this is proper, to deny family the right of migration?

This is the true Donald Trump, a nativist, racist, who has no compassion or conscience, such as the case of the Detroit, Michigan 40 year old immigrant, brought to America when he was ten years old, having committed no crimes while here, and now deported away from his wife and children, and sent back to Mexico, a nation he has not seen since thirty years ago, and having no connections or friends in that nation. What kind of person with any principles does not have humanitarian, and compassionate exceptions to any rule, when it destroys families?

Trump’s attack on MS-13, an international gang formed in Los Angeles that commits murders and other crimes, was a vast exaggeration of that group, and Senator Kamala Harris, who prosecuted gang members as California Attorney General, appropriately attacked Trump for scapegoating and fear mongering to justify the hard line proposal on immigration and family.

Additionally, Trump exaggerated the economic revival, which was NOT due to him, but to the steadily improving economic situation under Barack Obama, who came in with a massive economic collapse on his door, occurring during the George W. Bush Presidency. Obama created the greatest economic revival since Franklin D. Roosevelt and the New Deal, and did it without a major war.

So Trump inherited a great economy, and the job growth, unemployment rate and stock market improvements did not match what Obama had done in previous years, but Trump continues to lie and deceive about how the wealthy gained most of the tax cut that the Republican Party forced through without any input or bipartisan attempt by Trump.

Barack Obama Produced An Economic Miracle Without War, Better Than FDR, But Not Acknowledged By Donald Trump

This blogger saw a headline on MSNBC yesterday, stating that the stock market was on an upward spiral for the 8th year in a row in 2017.

That is correct, and Donald Trump keeps on reminding us of that fact.

But what he and the cable station did not make clear with that headline, is that the stock market has been going up steadily since 2010, the second year of the Barack Obama Presidency.

Obama had SEVEN years of economic growth, and the stock market up went up more than 250 percent in those eight years, unmatched in American history.

Additionally, unemployment went from 10 percent when Obama came into office to under 5 percent when Obama left office, a truly magnificent accomplishment.

Obama had to deal with the Great Recession that occurred under George W. Bush, and he brought about a tremendous revival, greater than Franklin D. Roosevelt during the Great Depression, which he inherited from Herbert Hoover. FDR needed the war spending on World War II in 1939-1940, before we entered that war in 1941, to fully revive the economy.

So Obama had a greater success than FDR, and without America going into or about to enter into a major war.

That is no mean feat, and yet, Donald Trump acts as if the great economy he inherited was all due to him, and refuses to give any credit to Barack Obama. Trump is extremely lucky to have had a good economy when he entered office, unlike FDR and Obama, but that makes what they accomplished, even more impressive.

So the facts are that Barack Obama produced an economic miracle, which will help him to rise in rankings of Presidents in the future, from the present Number 12 in the C Span Survey of Presidential Scholars in January 2017.

Republicans Gave Us The “Panic” Of 1873, “Panic” Of 1893, The Great Depression, And The Great Recession, And Are Now Further Harming America With Tax Cuts For Wealthy And Corporations

The Republican Party gave us the Great Depression of 1929 under Herbert Hoover, caused by Republican policies under Calvin Coolidge.

President Franklin D. Roosevelt, the Democrats, and the New Deal programs saved millions of Americans in the years from 1933 to 1939, when the military buildup for a potential entrance into World War II finally led to a total recovery of the economy.

Earlier, in the 1870s, Republican President Ulysses S. Grant presided over the Panic of 1873, which lasted until 1879, also under a Republican Congress.

In the early 1890s, Republicans, under President Benjamin Harrison, undermined the economy, and as Democrat Grover Cleveland succeeded Harrison in the White House, America entered the Panic of 1893, which did not end until 1898, and entrance into the Spanish American War.

And in late 2007 until early 2009, we had the Great Recession under Republican President George W. Bush, the worst situation since Herbert Hoover and the Great Depression, and it took the entire Barack Obama Presidency to bring unemployment down from 10 percent to under 5 percent, and the stock market grew by close to 250 percent.

Obama accomplished a revival that was greater than FDR, and without going to war.

Now, the Republicans are trying to ram through a massive tax cut for corporations and the wealthy top one to two percent, which will further harm America. It is likely to lead to another Great Recession, made worse by the likelihood that the Republicans will attempt to undermine Social Security, Medicare, and Medicaid in 2018, because of lessened funding with the cut in taxes collected. This will force massive cuts in the social safety net of the New Deal of FDR and the Great Society of President Lyndon B. Johnson.

Trump’s Public Opinion Rating Continues To Fall Despite Growing Economy, And A Growing Fear Of His Mental Instability

Donald Trump’s public opinion polls continue to plunge, down to the low 30s, and likely to fall further over time.

This is happening despite the growing economy, including the stock market, low unemployment. and strong job growth.

Trump has been very irrational in his behavior, and it is starting to become an issue discussed on cable news, whether the President is fit to serve, with much evidence that he is often inattentive; wanders off at ceremonies when he is supposed to remain present; and rages and fumes so much about the unfairness of how he is treated by fellow Republicans, who are pushing ahead on the investigation of his Russian collusion. And his public speeches are very unnerving as he makes a fool of himself, and demonstrates how much of a massive liar he is, and the horrible disposition he puts on display.

It is not uncommon for men and women in their 70s to start having mental issues, as the brain ages, but we are not talking here about just any man or woman, but the President of the Unites States, who has control of the nuclear codes, but may indeed be delusional.

Such a condition could undermine the entire country, and so it is time for Vice President Mike Pence and the cabinet, all loyalists to the President, to arrange a mental exam by psychologists and psychiatrists, as to the mental state of Donald Trump.

The nation comes before Donald Trump’s own ambitions and desires, and it is the responsibility of Pence and the Cabinet to put loyalty to the nation ahead of their support of Donald Trump!

The Pure Ignorance And Stupidity Of Donald Trump Is Beyond Belief!

Donald Trump is supposed to be an intelligent man, but if one listens to much of what he says, one can come to the conclusion that he is extremely ignorant and stupid.

He claims to be smarter than everyone, and that his best advisor is who he looks at in the mirror.

So he tells us that climate change and global warming is a hoax.

He informs us that Korea was part of China.

He tells us that his First Hundred Days are the most accomplished of any President, forgetting Franklin D. Roosevelt.

He talks about Frederick Douglass as if he was still alive, although he died in 1895.

He informs us that ISIL (ISIS) is due to Barack Obama, although it is actually due to the Iraq War initiated by George W. Bush and Dick Cheney.

He claims that the unemployment rate and jobs report under him is fantastic, while repudiating similar figures in the last months in office of Barack Obama as fake statistics.

He says that Barack Obama left a mess, even though Obama created more jobs in his Presidency than any President, and left us with a tripling of the stock market and halved the unemployment rate when he came in, having inherited the worst economic conditions since Herbert Hoover and the Great Depression.

He lies about inauguration crowds, and the numbers at the New England Patriots White House event.

The man is a perpetual liar and deceiver of the facts, and yet has millions of clueless people still honoring him.

It is in many ways as if America elected a totally inept, unstable, ill informed leader, and yet not an issue to millions of gullible Americans, which says legions about them, and is a sign of the massive problems we face.

Alternative facts, which means pure right wing propaganda, is rampant, and millions of Americans are totally unaware of the realities of science and history, and simply believe what right wing media tells them.

The Wealthy And Corporations Love Trump, Most Pro Business Since Calvin Coolidge, But The Great Depression Came After Coolidge!

The stock market has surged since the election of Donald Trump, and has hit the 20,000 mark and now the 21,000 mark, a 15 percent increase.

And why not? This nation, and its clueless masses, worship wealth and opulence over principle and ethics, sorry to say!

The wealthy elite and the corporations love what Donald Trump represents—massive tax cuts for the top one percent promised, and the end of most regulations of corporations in all fields of the economy.

This is already the most conservative President, just in pledges and promises, that we have seen since Calvin Coolidge nearly a century ago.

Even Ronald Reagan was not able to do so much so quickly, or pledge to do, as Donald Trump has been pledging to the elite wealthy.

Meanwhile, for the average American, and the blue collar whites who voted for Trump, they are not yet aware of the scam being perpetrated, as they lose their health care, their protection from environmental calamity, and their social safety net that they receive in greater numbers than minorities often have.

No longer can they get a lower interest rate on mortgages, or a greater overtime pay at work, or protection from being victimized by those who advise them on retirement investments.

Public schools will be harmed; gays and transgender people will be discriminated against in an open fashion; civil rights violations will not be investigated; and civil liberties of all of us will be undermined by a lawless, corrupt administration which is taking advantage of gullible citizens who thought a narcissistic billionaire, who has always treated his workers, contractors, and tenants with disdain throughout his life, could be trusted.

While the wealthy and corporations celebrate Trump, expect that we will have the same result we had under Calvin Coolidge and Herbert Hoover–the coming of the Great Depression; and the same results we had under George W. Bush, the Great Recession.

Remember also we had great economic recessions under Dwight D. Eisenhower in the 1950s; under Richard Nixon and Gerald Ford in the 1970s; and under Ronald Reagan and George H. W. Bush in the 1980s and 1990s.

The way we get out of economic depressions and recessions is to elect Democrats—Franklin D. Roosevelt, John F. Kennedy. Lyndon B. Johnson, Bill Clinton, and Barack Obama, with FDR and Obama being the most crucial Presidents in taking us out of the two greatest economic downturns of the past hundred years–1929 and 2008!

The Positive Contributions Of The Barack Obama Presidency

So here we are on the last full day of the Barack Obama Presidency, which I have been writing about since August 2008, and just about daily since 2010.

Barack Obama has been an historic President, and will end up in the top ten of our 44 Presidents over time, if not immediately.

Barack Obama was the most pilloried President since Richard Nixon, but for no good reason, and a lot of it was based on pure racism, sorry to say, but the truth.

But Obama brought us a dignified, classy persona to the White House, as did his wife Michelle.

He gave us the biggest expansion of our health care system, and much of it will survive the Donald Trump and Republican onslaught in the end.

He gave us the concept of limited military involvement, after decades of too many interventions overseas, and ended our involvement in Iraq, and cut back dramatically on the unwinnable war in Afghanistan.

He gave us the possibility of ending the threat of Iran as a nuclear power, and opened up a new relationship with Cuba, after 55 years of ignoring reality.

He accomplished through the use of technology and drones the elimination of thousands of terrorists worldwide, and took the gamble to bring justice to Al Qaeda leader Osama bin Laden.

He started moving the focus of American foreign policy to Asia and the Pacific, and kept good relations with America’s NATO allies, and kept Russia’s Vladimir Putin on edge. about how America would react toward his aggressive stands.

He made climate change worldwide a crucial focus, and participated in international agreements, and accepted science over conspiracy theories, and made us realize global warming was a danger to American national security.

He took an economy that was the worst since the Great Depression, what is called the Great Recession, and turned it around, with the greatest job growth over eight years in American history, the greatest stock market growth, and the greatest drop in the unemployment rate that has occurred in any administration.

He accomplished in health care what Presidents since Theodore Roosevelt to Franklin D. Roosevelt to Harry Truman to John F. Kennedy to Lyndon B. Johnson to Richard Nixon to Bill Clinton to George W. Bush had been unable to do.

He brought about the revival of the American auto industry, and advanced the rights of workers to overtime pay and increased minimum wage, and the rights of consumers through the creation of the Consumer Financial Protection Bureau.

He advanced women’s rights, including to equal pay, and gave DREAM kids a reprieve from possible deportation, and promoted the idea of universal pre school and community college education, and worked to try to deal with the student loan crisis.

He advocated fair treatment of Muslims in America, and became the champion of gay equality in the military, gay rights in society, and gay marriage and transgender rights.

He became a great advocate of the environment, adding to our national parks and national forests and endangered sites, and continued the tradition of earlier exceptional environmental Presidents, including Theodore Roosevelt, Franklin D. Roosevelt, John F. Kennedy, Lyndon B. Johnson, Richard Nixon, Jimmy Carter, and Bill Clinton before him.

He utilized executive orders to expand the rights of the American people, and worked for legal and judicial reform, and appointed Sonia Sotomayor and Elena Kagan to the Supreme Court.

He cared about the weak, the powerless, and the forgotten groups in American society, and set a good moral basis in his own life and that of his family, becoming a model for young people as to how a President should conduct himself.

He avoided lashing out at those who promoted bigotry, and also showed emotion after his failed attempts at immigration reform and gun safety legislation. He had real tears, emotions, and sincerity in the Oval Office, which has hardly ever seen that, and hard to think of any earlier President quite like Obama.

He also faced the greatest number of threats of any President since Abraham Lincoln, as delineated in my Assassinations book, and demonstrated great courage and equanimity in waking up every day, knowing he was a target for hate mongers who wished him and his family ill will.

And finally, he had two terms of office without any hint of a personal, or otherwise, major scandal!

So Barack Obama was a FINE MAN, a different spelling of this author’s and blogger’s last name, and he will rise in the Presidential rankings to the top ten, and likely higher in the middle of the top ten at some point in the future, as he was truly a transformational President!

Goodbye, President and Mrs Obama, we will miss you, and wish you many decades of good health, prosperity, and happiness, as you continue to contribute to American betterment! God bless you both!