‘Chaos breeds chaos’: Trump’s erratic and false claims roil the globe. Again.

In Economy On

 

After his Argentine steak dinner last weekend with Chinese President Xi Jinping, President Trump announced that they had reached an “incredible deal” to temporarily suspend his trade war. But days later, Trump declared, “I am a Tariff man.”

Trump last week proposed stripping away electric-car subsidies from General Motors as punishment for the automotive giant moving to cease production at plants in the United States and Canada. But then his chief economic adviser, Larry Kudlow, said the White House would do no such thing. Targeting a single company, he explained, would be illegal.

Then there is the way Trump talks about how the economy works — imprecise at best, ignorant at worst. For instance, the president routinely says that China and other countries are paying billions of dollars to the United States because of his tariffs. But that is false. Tariffs are paid by companies, often U.S. firms, that import foreign-made products.

Once again this week, world leaders, U.S. lawmakers and jittery investors have been reminded that Trump’s words cannot always be trusted.

The whiplash nature of Trump’s economic policies and pronouncements bore tangible consequences on Tuesday, when U.S. stock markets cratered amid investor skepticism of Trump’s China talks. The Dow Jones industrial average dropped 799 points, or 3.1 percent, while the Standard & Poor’s 500-stock index fell 3.2 percent and the Nasdaq dropped 3.8 percent.

Read full article

You may also read!

Nancy Pelosi’s Coat Catches Fire

  After #PantsuitNation, #CoatCountry? It’s a strong possibility, given

Read More...

Mobile Sliding Menu

Common Ground
We don’t need to search any further for common ground in our country. We have it.
We all want the same things – a safe, prosperous, free, democratic nation with opportunity for all. At the same time, we will all be harmed if our democracy, our free press, our Constitution and our core American values are threatened. We will all certainly be harmed if reckless behavior triggers any number of potential armed conflicts.

None of us know how this will all play out so let's make a deal. Let’s get up to speed on the issues, establish some facts, take action and watch what happens together . . .