HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » The Trump team all set to...

Mon Dec 10, 2018, 11:30 AM

The Trump team all set to blame others for possible upcoming recession.

I've been saying since the huge, deficit-increasing GOP tax cut bill, that a recession is likely in the near future. That's because deregulation (which the Republicans also did) + a huge tax cut bill for the wealthy (which cuts revenue and increases the deficit, in this case by $1.5 Trillion) = recession (IMO).

Now that the stock market is tanking, and TODAY OFFICIALLY ENTERED CORRECTION TERRITORY (I heard on MSNBC this morning), and with recession seeming to be much more possible, the Trump is at-the-ready with its explanations, all geared to whistle calls to his base on who to blame: The Fed's interest rate hikes.

I recently read a prediction that if a recession occurs, Trump and his team would blame the Fed and the Democrats. They also tried to blame Obama for the Republican Great Recession, too.

The Fed, if it keeps hiking rates, will cause a recession: Ex-Trump economic advisor Stephen Moore

***"The only thing that really worries me about the economy right now is what the Fed is doing," says the "Trumponomics" co-author.

***"The Fed is what's going to put us in the next recession if they keep raising rates," Stephen Moore says.

***The Fed is expected to raise interest rates again next week. But the market is now putting low odds on any hikes next year.

https://www.cnbc.com/2018/12/10/fed-if-it-keeps-hiking-rates-will-cause-a-recession-stephen-moore.html

Notice the statement, "The only thing that really worries me about the economy right now is what the Fed is doing"? He's not worried about all the layoffs piling up, like GM and Verizon and others. Or the tanking stock market. Or the bad tariff tricks the President is pulling. Or including tax incentives in the tax cut bill for companies to offshore their businesses. He's not worried about anything that is related to any of his former boss's policies or actions.

A walk down Memory Lane of what Trump thinks about recessions, in case anyone is under the impression he CARES about the harm done to people in recessions:

In 2006, Trump said regarding a crash: “I sort of hope that happens because then people like me would go in and buy.” https://www.politico.com/story/2016/09/trump-housing-collapse-228708

In 2007 Trump said, “People have been talking about the end of the cycle for 12 years, and I'm excited if it is,’ he told the Globe and Mail in March of 2007. “I’ve always made more money in bad markets than in good markets.” https://www.nbcnews.com/politics/2016-election/trump-2007-i-m-excited-housing-market-crash-n578761

I didn't find it on the internet, but I heard a rally speech in his campaign where he states that he loves recessions because he can buy stuff for cheap.



11 replies, 823 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread

Response to Honeycombe8 (Original post)

Mon Dec 10, 2018, 11:32 AM

1. blaming the fed rarely works, and especially not after you've appointed a new fed chair.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Honeycombe8 (Original post)

Mon Dec 10, 2018, 11:32 AM

2. the buck stops nowhere near this presidency. toxic don.

a trump boot licker

Reply to this post

Back to top Alert abuse Link here Permalink


Response to spanone (Reply #2)

Mon Dec 10, 2018, 11:38 AM

4. His desk sign, "The Buck Stops Here" means blame doesn't cross the desk to Trump's seat.

.

It's his talisman that only affects those behind it.

.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Honeycombe8 (Original post)

Mon Dec 10, 2018, 11:35 AM

3. So much for businesses paying out bonuses to their employees due to Republican tax cuts

I know, deficit spend to stimulate the economy! No, wait. They've been doing that for the past 18 months already.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Honeycombe8 (Original post)

Mon Dec 10, 2018, 12:01 PM

5. What, you mean Tariffgate?!? All Hail the King of the Mountains of Rotting Soybeans!!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to PubliusEnigma (Reply #5)

Mon Dec 10, 2018, 03:00 PM

6. You and I paid subsidies to the farmers to compensate for the tariff harm!

Funny how assistance and subsidies are for deadbeats, according to Repubs, unless it's for their base.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Honeycombe8 (Reply #6)

Mon Dec 10, 2018, 03:49 PM

7. Farmers don't want to burn their crops. It is unsustainable.

The World will find other sources for its needs.
And when the Tariffs have been lifted, there will be no customers left.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to PubliusEnigma (Reply #7)

Mon Dec 10, 2018, 03:51 PM

8. Yikes. I hadn't thought of that. Our farmers will have to lower their prices,

to get their customers back, when the tariffs go away.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Honeycombe8 (Original post)

Mon Dec 10, 2018, 03:55 PM

9. If Stephen Moore Said It. . .

. . .it means it's the opposite of what really caused a recession.

That guy couldn't figure out how to get out of a chinese finger puzzle.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProfessorGAC (Reply #9)

Mon Dec 10, 2018, 05:13 PM

10. +1

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ProfessorGAC (Reply #9)

Mon Dec 10, 2018, 06:43 PM

11. Exactly. Like most people on the Trump team. nt

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread