“I don’t think we’re having a recession,” Trump told reporters on Sunday in an attempt to quell fears over a potential market crash. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”
“I don’t see a recession,” he continued. “I mean, the world is in a recession right now. Although, that’s too big a statement.”
Toss in some paranoia:
Trump accused the media of deliberately precipitating an economic apocalypse in order to run him out of office. “The Fake News Media is doing everything they can to crash the economy because they think that will be bad for me and my re-election,” he wrote on Twitter. “The problem they have is that the economy is way too strong and we will soon be winning big on Trade, and everyone knows that, including China!”
The paranoia doesn’t end there. The New York Times reported on Sunday that in addition to his public grievances about the economy — which have also been directed at Federal Reserve Chairman Jerome Powell, whom Trump has accused of hamstringing growth by not cutting rates by enough — the president has been griping privately to aides and allies that everyone is out to get him and that all of this talk of an economic downturn is part of a multi-pronged scheme perpetrated by enemies who he believes are more concerned with sticking it to him than they are with the welfare of the United States. Very sane. Very normal.
I think there’s some dim understanding that somebody needs to do something. There’s a story out this evening that the Administration is considering a temporary payroll tax cut, among other things.
Weaponized paranoia always has been at the heart of El Caudillo del Mar-a-Lago‘s political identity. In the tangles of his mind, he is always standing strong and alone against a vast array of enemies, including the minions of The Deep State and certain Guatemalan toddlers. If he feels like his presidency* is in serious peril, he’s liable to go off the deep end. He’s already setting up the members of the cult to refuse to accept the result of any election he doesn’t win. (He’s recently gone off again about those busloads of Massachusetts voters who drove to New Hampshire to deprive him of his win there in 2016.) If a recession hits, he’s already blamed his own Fed chair and the evil media. Who would be left?
“Our Economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed, but the Democrats are trying to ‘will’ the Economy to be bad for purposes of the 2020 Election,” Trump tweeted. “Very Selfish! Our dollar is so strong that it is sadly hurting other parts of the world.”
Yes, evil Democrats with their mighty mind-beams are willing the economy to slow.
A slowing economy wouldn’t necessarily be terrifying, except that the people in charge of the economy are the likes of Trump and Larry Kudlow, who have no clue what they are doing. So there’s little hope we’re going to escape some consequences. See also Paul Waldman, Trump’s Scam Is Failing Him, and He’s in a Panic Over It.
But while we’re speaking of mental instability– we are hearing more about Trump’s very serious idea about buying Greenland.
Trump made it clear on the tarmac as he prepared to board Air Force One, bound for the G7 summit in France, that he thought Greenland had a price, in the same way that everything and everybody has a price, and Denmark could be a willing seller.
He said: “We protect Denmark like we do large portions of the world. So the concept came up and I said, certainly. Strategically it’s interesting. It’s essentially a large real estate deal.”
The art of the deal is to spot your adversary’s weakness. Trump said Greenland was costing Denmark about $700m (£575m) a year in subsidies. While he pointed out this drain on the public finances, it was clear he saw it as a bargaining chip that could be used to persuade Danish taxpayers.
The Financial Times, in a mock assessment of Trump’s bid, put a price of $1.1tn on the combined value of Greenland’s mineral and defence assets.
Yeah, there’s a G7 summit coming up, in the French seaside town of Biarritz. This should be fun.
The country's "Ugliest American" is going to Europe.
Well, at least Putin won't be there, so tRUMP won't have the opportunity to make goo-goo eyes at him, or reveal secrets or receive instructions. Or to kiss Russia's Dictators' ass.
I feel sorry for the other G7 leaders. They have to deal with a bigoted, petulant, ignorant/stupid man-child with soap-bubble thick skin.
If Mark Twain was still alive to write about this trip, he might have titled the book, "Maliciousness Abroad!
Greenland is a win-win for Trump. If Trump and the world at large is talking about Greenland, the media isn't talking about concentration camps, House investigations, Russian interference, Trump running from any meaningful gun reform, Democrats running for president, yada, yada, yada. I expect Trump will milk Greenland for all the distraction it can offer.
If discussions actually went somewhere, Trump would pretend it's the biggest thing since the Louisianna Purchase. (and continue to keep the spotlight away from scandals) Yes, we need to ridicule the ridiculous, but let's not neglect what Trump wants us to overlook.
Trump fears (correctly) that there will be a downturn in the economy before November 2020. That will be disastrous for his reelection. I would not put it past the leaders of nations who Trump has offended (a long list) to precipitate a US recession to drive a stake through Trump's presidency.
If Russia with its bad intentions can conspire to interfere in our democracy to put this idiot in place, it would not surprise me, and I would welcome it in the name of justice, to see other countries in the sane world work just as hard to make sure the sun sets on Trump in 2020, and that he faces some measure of justice afterwards.
Maybe Trump is thinking about Barron's future in the family biz and securing valuable seaside land parcels in Greenland with taxpayer dollars:
Nah. That would imply an ability to plan ahead and comprehend science. Melania or Ivanka might have put him up to it though. Hmmm.
It would also imply he actually cares about anyone other than himself.
As they say, ain't happenin'!
The PM of Denmark decisively refused to open discussions/negotiations/bribery attempts by team Trump. SHE (the PM of Denmark) said, and I paraphrase, that she hoped it was a joke. The premier of Greenland had also rejected the offer. Being the oaf that he is, Trump indicated that the deal would be w/ Denmark to sell Greenland as if the residents of Greenland had as much say in the negotiations as Native Americans when France sold territory west of the Mississippi to the US.
Anyhow, the trip to Denmark is off in September though Trump is leaving the door open for future talks, meaning Trump is looking for leverage over Greenland and/or Denmark. (Regime change in Denmark?) For the moment, the distraction is dead, which means the focus of the media may shift back to real issues.
I'm waiting for a Democrat to discuss selling Texas to Mexico to offset the cost of the tax cuts and the deficit and see how the Republicans react.
He can't even build his wall let alone buy Greenland. Now he has new tax problems too. He might even play lets make a deal and leave to avoid prosecution.
Trump's buffoonery is reaching a crescendo. I think it's time for the repugs to pull the rip cord.