The Trump team all set to blame others for possible upcoming recession.
I've been saying since the huge, deficit-increasing GOP tax cut bill, that a recession is likely in the near future. That's because deregulation (which the Republicans also did) + a huge tax cut bill for the wealthy (which cuts revenue and increases the deficit, in this case by $1.5 Trillion) = recession (IMO).
Now that the stock market is tanking, and TODAY OFFICIALLY ENTERED CORRECTION TERRITORY (I heard on MSNBC this morning), and with recession seeming to be much more possible, the Trump is at-the-ready with its explanations, all geared to whistle calls to his base on who to blame: The Fed's interest rate hikes.
I recently read a prediction that if a recession occurs, Trump and his team would blame the Fed and the Democrats. They also tried to blame Obama for the Republican Great Recession, too.
***"The only thing that really worries me about the economy right now is what the Fed is doing," says the "Trumponomics" co-author.
***"The Fed is what's going to put us in the next recession if they keep raising rates," Stephen Moore says.
***The Fed is expected to raise interest rates again next week. But the market is now putting low odds on any hikes next year.
https://www.cnbc.com/2018/12/10/fed-if-it-keeps-hiking-rates-will-cause-a-recession-stephen-moore.html
Notice the statement, "The only thing that really worries me about the economy right now is what the Fed is doing"? He's not worried about all the layoffs piling up, like GM and Verizon and others. Or the tanking stock market. Or the bad tariff tricks the President is pulling. Or including tax incentives in the tax cut bill for companies to offshore their businesses. He's not worried about anything that is related to any of his former boss's policies or actions.
A walk down Memory Lane of what Trump thinks about recessions, in case anyone is under the impression he CARES about the harm done to people in recessions:
In 2006, Trump said regarding a crash: “I sort of hope that happens because then people like me would go in and buy.” https://www.politico.com/story/2016/09/trump-housing-collapse-228708
In 2007 Trump said, “People have been talking about the end of the cycle for 12 years, and I'm excited if it is,’ he told the Globe and Mail in March of 2007. “I’ve always made more money in bad markets than in good markets.” https://www.nbcnews.com/politics/2016-election/trump-2007-i-m-excited-housing-market-crash-n578761
I didn't find it on the internet, but I heard a rally speech in his campaign where he states that he loves recessions because he can buy stuff for cheap.
= new reply since forum marked as read
a trump boot licker
I know, deficit spend to stimulate the economy! No, wait. They've been doing that for the past 18 months already.
