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Trump Domestic Policy - Budgets, etc

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Speaking of nut job  - Trump was all over the map at the G7

https://www.cnbc.com/2019/08/25/trump-on-us-china-trade-war-i-could-declare-a-national-emergency.html


 

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“In many ways this is an emergency,” Trump said at the G-7 leaders meeting of the ongoing trade battle between the world’s top two economies.

 

“I could declare a national emergency, I think when they steal and take out and intellectual property theft anywhere from $300 billion to $500 billion a year and when we have a total lost of almost a trillion dollars a year for many years,” Trump said, adding that he had no plan right now to call for a national emergency.

“Actually we are getting along very well with China right now, we are talking. I think they want to make a deal much more than I do. I’m getting a lot of money in tariffs its coming in by the billions. We’ve never gotten 10 cents from China, so we will see what happens.”

Trump’s comments come as he met with Britain’s Prime Minister Boris Johnson kicking off Group of 7 meetings in the French seaside town of Biarritz.

Clouding the G-7 gathering, which represents the world’s major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.

On Friday, Trump said he would raise existing duties on $250 billion in Chinese products to 30% from 25% on Oct. 1. What’s more, tariffs on another $300 billion of Chinese goods, which start to take effect on Sept. 1, will now be 15% instead of 10%.

 

When asked if Trump had second thoughts about Friday’s move to escalate the trade war with China, Trump said “Yup.” “I have second thoughts about everything,” he added.

Hours later, the White House issued a statement saying that Trump meant to say that he wished he had raised tariffs on Beijing even higher.

“His answer has been greatly misinterpreted. President Trump responded in the affirmative - because he regrets not raising the tariffs higher,” White House spokeswoman Stephanie Grisham wrote in a statement.

 

 

 

Kudlow defends

 

https://www.yahoo.com/news/white-house-insists-trump-has-authority-to-block-american-businesses-from-doing-business-in-china-172450694.html

 

Quote

 

White House economic adviser Larry Kudlow asserted President Trump’s threat to block trade between private Americans businesses and China, saying he has “emergency economic power authority” to do so.

“Do you believe that the president does have the authority to block private businesses from investing in China?” CBS News' Margaret Brennan asked Kudlow on “Face the Nation” Sunday.

“Ultimately, he does have authority,” responded Kudlow. “It’s an emergency economic power authority,” he said, adding that Trump “is not intending to” block trade with China at this time.

Amid an escalating trade war, Trump in a series of angry tweets Friday “ordered” American companies “to immediately start looking for an alternative to China, including bringing our companies HOME and making your products in the USA.”

 

 

Quote

 

The law, which was first used by President Jimmy Carter during the 1979 Iran hostage crisis to sanction Iran and freeze its assets, has been used in 54 national emergencies, 29 of which are ongoing, according to CNN. Earlier this year, Trump threatened to use the law to place tariffs on Mexican imports in an effort to stem illegal border crossings.

“In theory, that law exists,” Kudlow said, referring to Mexico. “He’s asking American companies to take a look, take a fresh look at, frankly, moving out of China, going someplace else. Preferably coming home to America.”

“That takes years,” Brennan interjected.

“It will take years, that is correct,” Kudlow said. “And that’s why there’s no immediate action here.”

 

 

 

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All is not necessarily well in the heartland.

 

 

 

What does "whine to get paid" mean? I certainly hope they're talking about the free market, and not about socialist government payment plans. We all know how farmers feel about socialism!

 

From the article:

 

Quote

 

At Minnesota’s Farmfest, it was clear that Mr. Perdue’s Southern charm could go only so far. His answers to questions about how the trade war with China would end were curt, and his quip about whining farmers left some with a sour taste.

 

“We shouldn’t have to whine to get paid,” said Joel Schreurs, a farmer from Tyler, Minn., who questioned Mr. Perdue at the event. “They should be grateful that we’re taking one for the team.”

 

Last week, Agriculture Department staff members in Nebraska left the Pro Farmer Midwest Crop Tour after receiving a threat from an angry farmer. According to an organizer of the event, farmers have been venting to the government employees who attended the annual tour about depressed crop prices, falling farm income and difficulty gaining access to credit.

 

“This is a stressful time in agriculture,” said Joel Jaeger, the general manager of Pro Farmer. “There’s certainly a lot of stress in the farm community.”

 

 

That does NOT bode well for Trump's reelection campaign, does it?

 

Oh, wait - let's look at the very next paragraph.

 

Quote

But many farmers continue to support Mr. Trump and express hope that the president knows what he is doing in his dealings with China. A July survey from Farm Journal found that 79 percent of 1,100 farmers still back Mr. Trump despite the lack of progress in negotiations with China. And Mr. Perdue largely remains an effective emissary, with the industry still hoping Mr. Trump can pull off the kind of trade deal he has been promising.

 

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History will not be sympathetic to the American Farmer. They are doing this to themselves.

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brazil is clearing out the rain forest to gain ground for crops to replace the american farmers.  i think  this trade war won't end with any agreement that gets farmers back to where they were.

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23 minutes ago, BigRedBuster said:

 

I was just about to post this - my comment is that all of Trump's empty promises to the rust belt states and to manufacturing in general have proven to be empty.  He is losing the trade war wt China.  They have the patience and culture to wait until after he loses the election.

I suspect Wisc, Mi, PA will go blue based on trump's broken promises. 

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^^^  I think Trump will be in for a rude awakening on election day.  Because of the trade war, manufacturing is slowing, growth is slowing and farming is being devastated.   I already think he will lose Fl, WI, MI, and PA - states he barely won in 2016 against a horrible candidate and before his false promises were exposed.  Now I think he will lose Iowa and some of the other farm states.  I think it is shaping up to be a landslide election - even before we see an expected slow down in the economy in 2020. 

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China is run by a president that has been elected in perpetuity and doesn't care about the needs and humanity of his people.  Above all else, this is the #1 reason why Trumps trade war was going to fail.  China will literally starve their people in order to get an upper hand and there are no consequences.  He's not facing re-election.

 

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So when the next budget comes up for debate, I really hope Democrats hold the Pentagon accountable for re-appropriating billions of dollars earmarked for other projects being funneled to the wall.

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Hire only the best.  Trump having regrets on his Fed choice.  I for one am glad the guy is standing up against Trump.  Trump is trying to shame him into resigning like he did AG Sessions.   Powell will be his scapegoat when the economy goes south next year and threatens his election.  But it will all be Trump's fault  - his stupid tariff trade war wt China besides  a host of other issues. 

 

 

http://www.msn.com/en-us/news/politics/trump-expresses-fresh-regret-about-his-fed-chief-oh-well-you-cant-win-them-all/ar-AAGU3fZ?ocid=ientp

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“I agree with @jimcramer, the Fed should lower rates. They were WAY too early to raise, and Way too late to cut — and big dose quantitative tightening didn’t exactly help either,” Trump tweeted. “Where did I find this guy Jerome? Oh well, you can’t win them all!”

 

The president has repeatedly assailed Jerome Powell for hiking interest rates as the economy has continued to recover from the financial crisis a decade ago. But he has dramatically escalated his attacks as signs have emerged that the U.S. could be headed for a recession next year — a development that could blunt his reelection effort.

Trump has publicly said he has the right to fire Powell, telling the Fox Business Network in June, “I have the right to demote him. I have the right to fire him,” while adding that he had “never suggested” following through.

Powell, however, said in July that he wouldn’t leave the Fed if Trump tried to oust him.

"What I have said is the law gives me a four-year term and I fully intend to serve it,” Powell told lawmakers.

Trump received the latest economic blow on Friday morning when the Labor Department reported that hiring slowed in August. The U.S. added 130,000 jobs in the month, coming in below economists’ prediction of 150,000 jobs, as Trump’s ongoing trade wars, most notably with China, continued to bite.

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