I don’t either.

Ryan, Trump and McConnell: These were our leaders on January 20, 2017: Inauguration Day

Just because you and I don’t remember the 2020 Recession, that doesn’t mean it didn’t happen.

The official arbiter of recessions — the Bureau of Economic Research — says there was one.

When Donald Trump took office in January 2017, he inherited an economy in its 91st month of economic expansion following the end of the Great Recession in June 2009. That expansion continued into 2020, becoming the longest on record, peaking at 128 months in February 2020.

The National Bureau of Economic Research officially recognized the Recession of 2020 as the shortest on record at just 2 months, with the trough of that recession occurring in April 2020.

One milestone which helps to mark the 2020 recession is the price of oil. During the month of April 2020, the price of a barrel of West Texas Intermediate was absolutely erratic, actually closing Negative at (Minus $37/bbl) on April 20, 2020. [Was gasoline free that day? I don’t recall.]

Back to January 20, 2017, Trump’s Presidential Inauguration Day.

Paul Ryan, a Republican from Wisconsin, was serving as Speaker of the House.  Mitch McConnell, a Republican from Kentucky, was the Senate Majority leader.

Ryan was first elected to the House in 1998 at age 28. He developed a reputation as a no-nonsense deficit-hawk fully focused on reducing entitlements and reducing taxes. Ryan had been serving as Speaker of the House since 2015.

The 2017 Tax Cuts and Jobs Act (TCJA) was Paul Ryan’s swan song, eagerly supported by Trump and most congressional Republicans.

Unfortunately, it was exactly the wrong time to enact this complex piece of legislation, primarily because it relied on untested assumptions at a point in time when the U.S. was riding the tail end of the longest economic expansion in history. It created massive increases in our national debt; it favored investment increases in oil and related industries (which to some appeared to be a means to curtail pending increases in oil prices); and exuberant expectations that repatriation of corporate profits parked offshore would be used to create domestic jobs turned into a massive stock buyback across the market.

In early February 2018, Paul Ryan began to reflect on the true consequences of the TCJA. He tweeted, “Julia Ketchum, a secretary at a public high school in Lancaster, Pennsylvania, said she was pleasantly surprised her pay went up $1.50 a week. She didn’t think her pay would go up at all, let alone this soon. That adds up to $78 a year, which she said will more than cover her Costco membership for the year.”

In April 2018, Ryan announced his intention to retire from Congress on January 3, 2019 — the end of his current term — thus ending a 20-year career representing his constituents in Wisconsin — so that he could spend more time with his family.

Left to its own devices, the 2017 TCJA may have created an unchecked economic calamity.

Then came the Covid-19 Pandemic which turned into an unforeseen international societal and economic tragedy – and clearly was the trigger which caused the 2020 recession. Yet, the impacts of Covid didn’t begin to surface until 1st quarter 2020, so there is a 24 month period following the January 2018 introduction of the TCJA which economists are now examining to help create real context around current (mid-2022) economic uncertainties.

Even a neophyte like me can add the 2022 Russian invasion of Ukraine to: (a) the long-term economic damage created by the TCJA; (b) the Covid wild card; and (c) the economic devastation of Trump’s tariffs, particularly on our agriculture sector. When we spread the numbers, we can begin to see an almost perfect recipe created under Trump’s watch sufficient to decimate any economy.

Despite the open hostility and recalcitrance of elected Republicans currently serving in Congress, I must give Joe Biden and the Democrats a 5-Star rating for refusing to capitulate, and for keeping the ball moving forward.

The most recent reactions to the FBI raid on Mar-a-Lago from Fox News and among Donald Trump’s followers confirm that Donald J. Trump might be a very dangerous cult leader.

The American Psychological Association (APA) associates Cult Leaders with those who exhibit narcissistic psychopathy in their actions and behaviors.

Cult leaders usually are psychopaths with a desire for power who often take ideas from politics, religion and psychology to fulfill their purpose. Through mind control, they are able to filter their thoughts and behaviors into “fanatical faith and belief” among followers.

According to a number of APA-approved research studies, “a destructive cult is an authoritarian regime, which uses deception when recruiting as well as mind-control techniques to make a person dependent and obedient.”

Some have said that the Church of Scientology resembles a cult, perhaps generally benign rather than overtly destructive.

L. Ron Hubbard founded the Church of Scientology in 1954, and he struggled for many years to gain recognition for it as a legitimate religion. He was often at odds with tax authorities and former members who accused the church of fraud and harassment. Hubbard died in 1986, yet he created an infrastructure which is more powerful and resolute today than any time prior.

Al Qaeda was founded in 1988 by Osama bin Laden using a decentralized organizational structure which has survived his death. Most agree that Al Qaeda generally fulfills the criteria for a destructive cult, and a priority within the war on terrorism should focus on application of what we know about destructive mind-control cults.

Experts advise that the best strategy to stop cults from expanding and taking control of large segments of world population is to develop a deep understanding of the psychological aspects of how people are recruited and indoctrinated so that recruitment can be impeded and ultimately stopped.

History tells us that Adolf Hitler and the Nazis were a destructive political cult, led by a man with an extreme case of malignant narcissism, defined by a ferocious sense of ‘self’.

Malignant narcissists – sometimes described as Narcissistic Psychopaths — exhibit no empathy. They believe they are above the law; they frequently make threats or speak of committing violence. They’re often paranoid; they demand complete loyalty; and they rarely trust anybody.

Adolf Hitler, Vladimir Putin, Jim Jones and Sun Myung Moon are often cited as malignant narcissists, some more a threat to the continuation of the human race than others.

The most recent reactions to the FBI raid on Mar-a-Lago from Fox News and among Donald Trump’s followers confirm that Donald J. Trump must be a cult leader.

“These are dark times for our Nation, as my beautiful home, Mar-a-Lago in Palm Beach, Florida, was raided, and occupied by a large group of FBI agents,” Trump complained in a statement sent out via email by Trump’s Save America PAC. Never bashful in his quest to amass the largest political action fund in world history, his statement concluded with a request for donations: “Please rush in a donation IMMEDIATELY to publicly stand with me against this NEVERENDING WITCH HUNT.”

Almost immediately, Trump’s followers – ignoring the possibilities that Trump was flaunting U.S. laws and regulations – began to circle the wagons, claiming Trump is being unfairly persecuted by the Biden administration and other hard-left liberals. Alina Habba, one of Trump’s lawyers, spent time on August 9 with Jesse Watters on Fox News claiming that the entire FBI operation essentially was ‘illegal, immoral and perfidious’.

We only need to look back to the early morning of September 11, 2001, when 19 terrorists from the religious extremist cult Al Qaeda hijacked four commercial aircraft and crashed two of them into the North and South Towers of the World Trade Center complex in NYC. Then, a third plane crashed into the Pentagon in Arlington, VA. Passengers on the fourth hijacked plane, Flight 93, fought back, and the plane was crashed into an empty field in western Pennsylvania about 20 minutes by air from Washington, D.C.

Nearly 3,000 people died. It was the worst attack on American soil since the Japanese attacked Pearl Harbor in 1941.

The terrorists from 9/11/2001 failed to destroy the foundation of U.S. society by force. Undeterred, it seems that these and other external forces have focused on indoctrination as a means to destroy our nation.

The growth of the Trump Cult – estimated to be as large as 35% of the U.S. population today – is proof that constant and focused messaging can be a powerful tool to alienate people who feel disenfranchised, and a majority of those people look like me.

I’m now retired; an over-65 white male who fought it out for 4+ decades to survive and prosper in an ever-changing workplace environment. It would have been easy for me to give up and blame the changes and challenges on women; people of color; immigrants; or ‘government over-reach’.

In fact, most GOP effort over the past several years has consisted mostly of new state and local election laws that have restricted voting in ways that often place a disproportionate burden on Black and Latino voters.

The Trump Terrorists have been programmed to zero in on racial, ethnic, religious and gender differences on the notion that entitled white men could be deprived from their rightful legacy.

The very origin of the Trump campaign is “Let’s Make America Great Again” referencing back to the 1956-57 era when virtually every white male high school graduate could transition into a family wage job – with GM or Ford; in government; mining; agriculture; transportation; construction; or a myriad of other industries. Those were the days when a typical CEO made 20 times the salary of the average worker.

In 2021, S&P 500 CEOs averaged $18.3 Million in compensation — 324 times the median worker’s pay. 

This inequity is the foundation of the real American dilemma. It has nothing to do with ‘deep state’ or a ‘swamp’ in D.C.  It is really grounded in the Dark Money culture which pervades our elections. Trump has plenty to say, but he has never addressed the real issues which haunt American workers.

Meanwhile, the Cult of Agent Orange is alarming, and it threatens to annihilate our entire nation.

We can do better, folks, and we must do better if we intend to survive as a nation.

A recent post by Mark Sumner on Daily Kos both caught my eye and stopped me in my tracks.

https://www.dailykos.com/stories/2022/6/17/2104655/-Donald-Trump-operates-on-One-Simple-Trick

I’m retired, so I have plenty of time to read, reflect and think about things. I try not to let the intensity of the moment get to me. I’ve found it’s better for me to stop, think and express my feelings in words. It may not change anything, but it does soothe me and help keep my blood pressure under control.

Here is my reaction to Mark Sumner’s excellent observations:

It seems that Trump has much in common with each of the historic figures (below).

They represent a rare but dangerous sub-species: Charismatic leaders who lack any social conscience, and are further devoid of the ability to empathize and identify with others on a genuine personal level.

In classic terms, these folks are narcissistic psychopaths, and most satisfy some of their urges by torturing and/or killing others. They are high-functioning individuals each of whom developed a rich repertoire of very effective coping mechanisms which allowed them to ‘fool some of the people all the time’.

Where Trump deviates from the rest of these folks is that he just isn’t very smart.

He refuses to read, study and listen to experts which limits his ability to develop a deep understanding of the world around him, thus leaving him incapable of originating, advancing and executing a productive and original strategy.

Trump is evil but shallow; he acts entirely on impulse. He treats his closest advisors like cannon fodder. Throughout his long career of grifting, pillaging and piracy, he never saw a bridge he wouldn’t burn.

I believe if Trump does live another 5 years, he will experience a precipitous fall from grace dwarfing even the saga of Bernie Madoff.

However the future unfolds, Trump will most certainly join this list of very bad actors for all of eternity:

Adolf Hitler; Joseph Stalin; Vlad the Impaler; Pol Pot; Heinrich Himmler; Saddam Hussein; Idi Amin; Josef Mengle; Ivan the Terrible; Genghis Kahn; Ayatollah Khomeini; Vladimir Putin; David Koresh; Charles Manson; Jim Jones. And the list goes on…

In her recent opinion piece published in the NY Times (6/11/2022: ‘Donald Trump, American Monster’) Maureen Dowd compared Donald Trump to Frankenstein, suggesting that Trump willfully planned to overthrow our government.

Maureen has been in her business for a very long time, and – like a good marksman — she rarely veers far from center of the target.

There is an overwhelming body of evidence which confirms that Donald Trump is self-centered and lacking in empathy, the basic ingredients of a narcissistic personality.

Over the years, Trump developed an entire repertoire of very effective coping mechanisms which allows him to ‘fool some of the people all the time’, enabling him to convince about 30% of American people (mostly of European ancestry) that he actually cares about them. And, that he understands their frustrations related to the growing influence of immigrants and other non-Europeans on U.S. society and our economy; and the growing influence of ‘the deep state’ which blocks the voice of the people.

In her essay, Dowd acknowledges Trump as a narcissist, and she comes quite close to the bullseye.

What she may have missed is that Trump is the most dangerous of the species, what some have called, ‘the toxic narcissist’.

Clinical psychologist John Mayer, PhD. describes a toxic narcissist: “… continually causes drama in others’ lives at the very least and causes pain and destruction at the very worst.” Mayer notes that a subset of toxic narcissists, known as psychopaths, are ‘unstable, aggressive – often violent — and will show no remorse for their behavior’.

Dowd seems to have veered slightly off the trajectory toward the bullseye when she allowed the possibility that “Trump was deadly serious about overthrowing the government.”

Although Maureen is correct that his actions (if successful) would result in an overthrow of our government, it’s doubtful that idea never ever entered Trump’s mind. He was, is and continues to be focused on the potential personal shame of losing. As a Toxic (and likely Psychopathic) Narcissist, Trump won’t back down and/or stop until he is abducted by aliens or is reinstated to the oval office.

Meanwhile, Trump has helped to inspire and energize a (mostly quiet) army of people – often identified as members of the Evangelical Christian faith — who just want everything to return to the American Promise of 1957.

Until these wayward folks can be helped to understand that our world in 2022 is much different from 1957, they are an extremely dangerous factor and they must be very carefully dealt with as the January 6 Commission saga continues to emerge.

Chair of the Select Committee Rep. Bennie Thompson (D, MS) & Co-Chair Rep. Liz Cheney (R, NV).

Today is June 9, 2022, the first day of a series of public hearings convened by the House Select Committee to Investigate the January 6th Attack on the U.S. Capitol, Chaired by Thompson, with Co-chair Cheney.

They are an Unlikely Duo, truly polar opposites in most ways, yet bound together by at least one common thread: an oath of office where they individually affirmed a solemn promise to “support and defend the Constitution of the United States against all enemies, foreign and domestic…”.

Thompson began his service as a Member of Congress in 1993 representing the 2nd Congressional district of Mississippi.  He is a black male; currently age 74; born, raised and still a resident of Bolton, MS: a small, rural and hard-scrabble town in Hinds County, approximately 20 miles from Jackson, the state capital.

Thompson’s voting record has been solidly ’liberal’. His legislative platform is and has been focused mainly on agriculture and rural issues; civil rights; homeland security; equal education; and health care reform.  He is a founding member of the Congressional Progressive Caucus.

Cheney began her service as a Member of Congress in 2017, representing the Wyoming at-large Congressional district. She is a white female; a lawyer; age 55; 3rd generation Wyoming resident on her mother’s side. Her father, former U.S. VP Dick Cheney, represented WY in Congress for 10 years.

Cheney is known as an “ideological conservative”, and a solid representative of the Republican establishment, noted for her focus on national security; support for the U.S. military; a pro-business stance; hawkish foreign policy views; and fiscal and social conservatism.

Prior to her ‘fall from grace’ for refusing to capitulate to the “stolen election theory”, Cheney chaired the House Republican Conference, the third-highest position in the House Republican leadership.

It seems perfectly clear from watching and listening to this first public hearing jointly moderated by this Unlikely Duo that the January 6th Insurrection is a seditious conspiracy against the Constitution of the United States.

It seems entirely plausible that House Republican leader Kevin McCarthy and Senate Republican leader Mitch McConnell have continued to advance and support blatant political lies — fully disproved by both facts and the courts —aimed to support what has come to be known as the “Big Lie”: an imaginary alternative outcome from the 2020 presidential election.

Are Kevin and Mitch potentially guilty of Sedition themselves, or merely complicit in their disruptive and subversive actions?

Most sad:  Rod Serling could have produced an entire season of The Twilight Zone off the McCarthy/McConnell fabrications.

How did The Trump Organization refinance a Trump Tower mortgage with a $100 million loan?

The new loan is a refinancing of a commercial mortgage the Trump Organization took out on Trump Tower in 2012. That was a 10-year loan with an interest rate of 4.2% that came due this year, according to a financial disclosure filed by Trump.

The lender of the original mortgage loan was Ladder Capital, a New York firm where the son of Trump’s longtime chief financial officer, Allen Weisselberg, is a senior executive.

The new loan was apparently consummated on February 15, 2022 with Axos Bank of California.

Axos Bank? ‘Never heard of them’, you say.

Axos is a small [$14 Billion] boutique west-coast Federal Savings & Loan, formerly known as Bank of Internet, USA.

Axos has been in the press recently because of apparent ties to World Business Lenders and allegedly predatory loans to small business owners at rates of up to 268% APR, evading state usury laws by evoking the Axos federal charter.

CEO Gregory Garrabrants is head of Axos Financial Inc., the holding company which owns Axos Bank.

In 2018, Garrabrants compensation was $34.5 Million, more than Jamie Dimon of JPMorgan Chase & Co. ($31 Million) and Goldman Sachs Group Inc.’s David Solomon ($23 Million) raked in that year.

Federal Savings & Loan? Please don’t tell George Bailey about this!

Alvin Bragg:  You now are the District Attorney of Manhattan.

Did someone get to you?  Were there threats against your family?  Was there the promise of a payout that was just too rich to deny? Maybe some of each?

Donald J. Trump has gotten away with crimes in New York for decades. Witnesses, opposing counsel, judges get bought off, threatened or promised business will be sent their way later if they back off, disappear, and/or change their tune.

Donald J. Trump combined his exceptional skills in rhetoric and oratory with his propensity for self-dealing.  His narcissism is well documented.  His penchant for litigation is legendary.

It seems clear that Donald J. Trump deserves nothing less than a complete and thorough investigation of the veracity of his annual financial statements, and a thorough presentation to a grand jury which would provide the public with a complete and transparent look into allegations which have simmered for the past 3 decades, at least.

It’s no secret that — despite Trump’s historic focus on New York City real estate — none of the Money Center Banks have made a loan to Trump or a Trump affiliate for ages.  His creditors are Deutsche Bank and several non-bank syndicates.

Money Center Banks tend to be highly focused on the accuracy of financial statements and the creditworthiness of principals involved in any transaction.  Silence and lack of interest from Money Center Banks toward the Trump Organization should not be interpreted as modesty, indifference or ignorance.

There is plenty of anecdotal evidence which most informed observers would interpret as aggressive intent by the Trump family and the Trump Organization to bamboozle taxing authorities and potential creditors through creative asset valuation techniques.

We – the public – are forced to sit on the sidelines confident that you – an elected District Attorney – will seek justice within the bounds of the law, serving the public interest while acting with integrity and balanced judgment to respect and protect the constitutional and legal rights of all persons, including suspects and defendants.

We believe your recent choice not to pursue charges is unfair to Mr. Trump, the Trump family, and the general public.  A definitive outcome of this case is both needed and required.

Some Thoughts on CPAC 2022

February 28, 2022

Has our education system failed us?

Over the past 3 decades, the U.S. has slowly lost its edge as the world leader in public education.  U.S. student proficiency in science and math – generally thought to be the foundation for independent and critical thinking – is mediocre, at best.

In a recent international comparison of achievement among 15 year old students from 71 countries, U.S. students ranked 36th in math, and 24th in science.

Some of these students — who have already been denied a rigorous education – are most vulnerable to inculcation and indoctrination.

Thus, it should come as no surprise that young adults who lack independent and/or critical thinking skills are likely to become the next generation of CPAC attendees.

Donald Trump is an expert communicator, highly skilled in techniques which are frequently cited by experts in mind control.

Trump focuses on a small number of issues which are emotionally important to a narrow group of people who feel lost or disenfranchised.

His communications are intended to provide understanding, comfort and answers to his audience, thus to gain their trust, despite often vague solutions to the identified problems.  Here are a few actual and verified Trump communiques (in no particular chronological order) which may have helped rally and solidify his audience:

  • “I could stand in the middle of 5th Avenue and shoot somebody and I wouldn’t lose voters.”
  • “I am the only one who can make America truly great again.”
  • “This very expensive GLOBAL WARMING bullshit has got to stop. Our planet is freezing, record low temps, and our GW scientists are stuck in ice.”
  • “I’m intelligent. Some people would say I’m very, very, very intelligent.”
  • “Sorry losers and haters, but my IQ is one of the highest – and you all know it! Please don’t feel so stupid or insecure; it’s not your fault.”
  • “We need a president with tremendous intelligence, smarts, cunning, strength and stamina.”
  • “Obama and his attack dogs have nothing but hate and anger in their hearts and spew it whenever possible.”
  • “I will build a great, great wall on our southern border, and I will have Mexico pay for that wall. Mark my words.”
  • “I’m the least racist person you have ever interviewed.”
  • “I have a great relationship with African Americans, as you possibly have heard. I just have great respect for them. And they like me. I like them.”
  • “They’re sending people that have lots of problems, and they’re bringing those problems with us. They’re bringing drugs. They’re bringing crime. They’re rapists. And some, I assume, are good people.”
  • “[John McCain is]… not a war hero. He’s a war hero – he’s a war hero ’cause he was captured. I like people that weren’t captured, OK, I hate to tell you.”
  • “Donald J. Trump is calling for a total and complete shutdown of Muslims entering the United States until our country’s representatives can figure out what the hell is going on.”
  • “Crooked Hillary Clinton is the worst (and biggest) loser of all time. She just can’t stop, which is so good for the Republican Party. Hillary, get on with your life and give it another try in 3 years!”
  • “Russia will have much greater respect for our country when I am leading it than when other people have led it… If Putin likes Donald Trump, I consider that an asset, not a liability, because we have a horrible relationship with Russia.”
  • “Nobody knew health care could be so complicated.”
  • “We can’t let people down when they can’t get any medical care, when they’re sick and don’t have money to go to a doctor. You help them.”
  • “We condemn in the strongest possible terms this egregious display of hatred, bigotry and violence on many sides. On many sides.” [post-Charlottesville, VA; 2017].
  • “Corporations are literally going wild over this, I think even beyond my expectations.” [Tax Cuts and Jobs Act; 2017]
  • “We have it totally under control. It’s one person coming in from China. It’s going to be just fine.” [Re: Covid-19:  Jan. 2020]
  • “We are up BIG, but they are trying to STEAL the Election. We will never let them do it. Votes cannot be cast after the Polls are closed!”
  • “So, look, all I want to do, is I want to find 11,780 votes.”
  • “We fight like hell. And if you don’t fight like hell, you’re not going to have a country anymore.”
  • “This election was rigged. And the Supreme Court and other courts didn’t want to do anything about it.”
  • “Nobody has done more for Christianity or for evangelicals — or for religion itself — than I have.”
  • “They say, ‘Trump said Putin’s smart.’ I mean, he’s taking over a country for two dollars’ worth of sanctions. I’d say that’s pretty smart. He’s taking over a country — really a vast, vast location, a great piece of land with a lot of people, and just walking right in.”
  • “As grave as the dangers are abroad, it’s the destruction within that spells our doom. Our most dangerous people are people from within. These are people that must hate our country because they make us weak. They indoctrinate your children to hate their parents while calling you a hateful racist. They use big tech to censor you. They use the deep state to spy on you. They use the intelligence agencies to frame you. They use the media to slander you. They use the legal system to persecute you. It is a persecution. They use rigged elections to disenfranchise you and destroy you and ruin your lives.”

Yes, Mr. Trump.  If we follow your lead, we must fear the left-wing fascists and dumb political leaders from within.  Some have said that these dumb political leaders are ‘truly evil people’ who are ‘afraid to do the right thing.’

Meanwhile, others have singled out a contingent of Republican elected officials – including: Rep. Matt Gaetz of Florida; Sen. Bill Hagerty of Tennessee; Sen. John Kennedy of Louisiana; Gov. Kevin Stitt of Oklahoma; Gov. Ron DeSantis of Florida; former Secretary of State Mike Pompeo; Sen. Ted Cruz of Texas; Rep. Jim Jordan of Ohio; Rep. Marjorie Taylor Greene of Georgia, and several more.

Concurrent with the CPAC conference, Rep. Greene distinguished herself as a speaker at a white supremacist event — the America First Political Action Conference (AFPAC) – also held in Florida.

Guests at the AFPAC conference openly cheered Russian President Vladimir Putin, and approved comparisons between Putin and Adolf Hitler, while calling the January 6 attack on the U.S. Capitol “awesome.”

Despite a subsequent statement from the RNC Chairwoman saying “white supremacy, neo-Nazism, hate speech and bigotry are disgusting and do not have a home in the Republican Party,” there was no rebuke of Marjorie Taylor Greene by name.

Yes, Mr. Trump.  There may be some left-wing fascists and dumb political leaders who were elected as Democrats.  If you could take just a moment to identify them and accurately describe their aberrant behavior(s), that would really be great.

Yet, we have irrefutable media evidence of public officials who were elected as Republicans and who have gone out of their way to favor Mr. Putin over our elected president.

Best I know:  This is clear essence of sedition, perhaps emanating a whiff of treason.

Perhaps, Mr. Trump, you will take a few moments to respond to these conclusions drawn from real facts?

A few weeks ago, I shared some thoughts about our current President and his economic credentials.

Donald John Trump was one of 366 student members of the class of 1968 who was awarded a Bachelor of Science degree in Economics from the Wharton School of Finance and Commerce at the University of Pennsylvania.

Other than his bachelor’s degree and some experience working in the family real estate business, there is no evidence that Mr. Trump has pursued additional education, credentials or capabilities in the field of economics.

Trump’s paucity of bona fides in the world of economic theory and practice has not deterred him from taking an active role in testing new economic theories and concepts.

Below, I introduce a new chapter in my observations on Donald Trump’s economic strategy:
…………………….…………………………………………………………………………………………………………………………………..

July 31, 2019 (Wednesday):  Federal Reserve Chairman Powell reluctantly announced a 25bp cut in the federal funds rate, the first rate cut in over a decade (December 2008).  In his announcement, Chairman Powell cited, “implications of global developments for the economic outlook as well as muted inflation pressures”.  The Fed also referenced an apparent global economic slowdown; uncertainty around U.S.-China trade negotiations; and ‘stubbornly low inflation’.

August 1, 2019 (Thursday):  Donald Trump announced (in a series of tweets) that the U.S. would impose a new 10 percent tariff on certain goods from China beginning on September 1, 2019, following the news that trade talks with the China have failed to make sufficient progress.

These new tariffs will apply to the $300 Billion of Chinese goods which had not before faced a tariff. Another $250 Billion of Chinese goods will continue to be tariffed at a 25 percent rate.

This abrupt and unusual move roiled the equity markets, creating a major sell-off.

Since late 2018, the U.S. economy has been showing signs of slowing — bond markets are flaccid; GDP has slowed; new home sales are generally flat; and business investment is anemic, at best.

Virtually every main-stream economist agrees that Trump’s trade war is contributing to the domestic economic malaise, although it’s too early to determine by how much, and if the damage is permanent.

The Fed rate cut on Wednesday was accompanied by a caveat that one purpose was to help create a barrier to prevent Trump’s trade wars from toppling our domestic economy.

Thursday’s surprise announcement by Trump reveals a new, arbitrary, capricious and  unilateral decision by the White House which will result in higher taxes to Americans on imports; and further expand uncertainty for businesses which need significant time to manage their supply chains.

The agricultural sector in the U.S. – farms and ancillary industries, suppliers, manufacturers, etc – are already fighting the unexpected impacts of climate and weather on production.  Then, they were handed a potential death sentence by a White House which is guided not by strategy and planning, but by impetuous and arbitrary policy changes driven by Trump’s narcissistic compulsions.

If Trump’s Trade War battle plans were conceived within a coordinated environment (i.e. in concert with the Fed and the Congress) perhaps we would be able to see a pathway toward successful outcomes.

Trump is consistent in his bravado that he – and he alone – has the vision, wisdom and solutions to create equilibrium in the trade accounts between the U.S. and China.

According to a BBC analysis from May 2019, “Trump’s decision to take on China could lead to adverse effects for consumers in the US and in China, but also worldwide. An economic showdown between the world’s biggest economies doesn’t look good for anyone.”

Article I of the US Constitution vests the power to set tariffs in Congress, thus Congress has the power to stop this President from continuing his arbitrary and impetuous trade war.  The question remains:  Will elected officials in Congress wake up, do their job and use that power, or will they continue to abdicate legislative responsibilities to this President?

Some have said that Donald Trump is ‘a stranger to the truth’.

On a daily basis, Mr. Trump publicly provides a broad variety of ‘alternative facts’ to the world through twitter posts; impromptu press briefings; speeches at public events; and appearances at Trump rallies.

It seems clear that Trump resides in his own detailed imaginary world, sometimes known as a “Paracosm”.

Mr. Trump seems to have a complex and deeply felt relationship with his own subjective universe, which includes a rather large number of: imaginary characters; concocted occurrences; and untested political, economic and behavioral theories.

Trump’s particular recollection of 9/11 from the reservoir of his own personal Paracosm by itself is troubling; yet when combined with an endless river of similar and related public pronouncements over an extended time frame leads many of us to conclude that Donald J. Trump is probably unfit to carry out the duties of the Presidency

Today, Rudy Giuliani said he’s afraid his epitaph will say he ‘lied for Trump’

Rudy and Donald have a lot in common. Among other things, they were born in NYC; they are “Geminis”; and they are members of the “3 wives club”.

It does seem likely that Rudy may have taken up residence in the Trump Paracosm, the place where Donald’s mind has created an entire alternate universe.

The Trump Paracosm is a place where Sirens reside, Sirens who are able to use their enchanting music and singing voices to lure a percentage of political creatures to become residents of the Trump Paracosm.

Once in residence, Putin and his brother Satan are able to permanently infect the souls of those who refused to block their ears from the enchanting songs of the Sirens.

Rudy himself had a rather shady past; his legacy is further diminished and defined by his alliance with The Donald.