The stock market had yet another tank today after falling on and off for the past month. Anyone above the age of one is old enough to remember a time where the stock market going up proved the US was doing better — now that it’s going down populist Trump supporters are ignoring it.
The same exact thing happened previously with Gross Domestic Products. When it was going up it proved Trump was great, then it went down and Tucker Carlson went on Fox News to talk about evil it proved the free market is — despite the fact it was created by socialists.
Either way, the President responded to it with multiple threads on Twitter. Here’s what he wrote:
The Economy is strong and good, whereas the rest of the world is not doing so well. Despite this the Fake News Media, together with their Partner, the Democrat Party, are working overtime to convince people that we are in, or will soon be going into, a Recession. They are willing to lose their wealth, or a big part of it, just for the possibility of winning the Election. But it won’t work because I always find a way to win, especially for the people! The greatest political movement in the history of our Country will have another big win in 2020!
Even — in fact, especially — by using anything Trump has previously used as proof an economy is good, the economy is in no way good. However, fair is fair and the market had not yet tanked yet.
Here’s what he said when the tank started:
As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?
Dude, I wished the Fed did nothing.
I should also note that Jay Powell was appointed as head by him and confirmed with a Republican controlled congress. If the President considers him such an enemy, why did he not only appoint him but allow Mitch McConnell to support him?
I should also note Trump could ask Congress to order the Federal Reserve to do whatever it is he wants. The Federal Reserve Charter directly says they can not deny an order from Congress. Yet, Donald Trump completely refuses to do such a thing because he does not wish for a strong economy. A strong economy leads to independence from the state, which no member of the state wishes for.
Here’s another one:
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop — it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!
First off, Fentanyl is already illegal.
Second off, this is just an example of the President once again hating the free market. The truth is those people didn’t move to other countries because they hate America, it was because America sets wages above the actual market value of them due to various regulations. This is the same reason many of them use illegal immigrants or automate. All of which are highly expensive processes that companies will only do out of desperation.
As I’ve pointed out a number of times, the absolute hatred the President has for China is simply him hating the poor of America. From an economic perspective, all China has done is make products cheaper for the average American. Donald Trump does not like low prices, hence why he tries to raise them with protectionism.
Poor people cannot afford higher prices caused by protectionism and local manufacturing. This is why the economy grew so much during the Clinton administration, due to his now hated policy of liberalizing relationships with China. I promise you many of the populists who hate him never lives through the George H.W. Bush recession.
This argument is made of fun of in populist spheres, almost as much as the argument that you aren’t being forced to buy from China, however, I can’t help but notice almost all populists are spoiled rich kids. What do Ann Coulter, Scott Greer, Pat Buchanan, Tucker Carlson, and Roger Stone have in common? Combined they’re almost as rich as Donald Trump.
The working class is simply unattractive to populism as most of them are not attracted to radical ideas. And if they are, it’s more likely for them to support libertarianism or socialism over populism, as populists tend to hate them.
About 50% of working class people live in cities, those are the people populists hate the most. Many Americans use social media, those people are hated by populists. Many Americans love consumerism, which is hated by populists. And I could go on.
Populists hate the poor, as does the President. So many things are wrong.