President Trump yesterday when asked about a possible recession: The talk of a possible recession is a media conspiracy to defeat me in 2020! The American economy is stronger than it's ever been in history! There can't be a recession because Americans are RICH after my tax cuts!
President Trump today when asked about a possible recession: We're considering a cut in the payroll tax. We're considering a middle-class tax cut. The Fed should lower the interest rate by a full 1%.
Why is he talking about possible solutions today for a problem he said didn't exist yesterday? Just more gaslighting from the master gaslighter - don't believe what you see and hear, just believe what I tell you.
His "solutions" won't work, but that's to be expected from someone who has no knowledge of basic economics and has two "advisors" who are incompetent. Kudlow stated on his TV show in 2008 that the economy was strong and there would be no recession - on the SAME DAY that Lehman Brothers went bankrupt, triggering the Great Recession. Kudlow's performance on this past Sunday's news shows alarmed a lot of people - with his slurred speech and repetitions, many thought he was drunk, some thought he might have been having a stroke, and others just thought he may have been having a medical problem. Having seen the videos, all I can say was that something was not quite right. I don't believe he was drunk, but something as not quite right. Could have been something as simple as medication.
Navarro is a quack economist whose theories have been rejected by a lot of economists. It has been widely reported that Jared was tasked with finding an economist, and found Navarro after a search on Amazon. This is how Trump finds the "best people"? Whatever happened to vetting?
The point here is that we may or may not be heading into a recession. Hopefully, we are not in the near term - but if we are, we're screwed because there doesn't seem to be anyone in charge who knows what they're doing. |
