Trump: The Economic Schizophrenic

Trump The Economic Schizophrenic. Buying 10% of Intel, Deregulation, and Tariffs.

Tony Katz:  

This economy is not there. Are we feeling the tariffs now taking an effect to the negative or is this still the Biden hangover of all that inflation working its way through.

Dr Matt Will:

It’s a little of both. We still have a lot of bad outcomes from the Biden policies, but now the Trump policies are starting to weed their way into the economy. There are some good and there are some bad. I mean, in the second quarter we had phenomenal GDP growth. Consumer spending is still very high, and we see that curving of the use of debt. You know, credit cards still too high, but it’s curving down. We see wages increasing, so there’s some good stuff happening. The deregulation. I just can’t say enough good things about that. But you know I said before, Trump’s like this economic schizophrenic. He’s doing all these good things, but then the tariffs are slowing down the economy. John Deere announced 238 layoffs, all tariff related. They announced six hundred million dollars in expenses this fiscal year as a result of tariffs. He’s trying to help John Deere. He wants to help Caterpillar. Yet Caterpillar reported one point five billion dollars in increased cost related to tariffs. And I’ve said this many times, and I’m going to keep repeating myself. In the end, trade deficits are good, and tariffs remove the incentive to do trade, which harms the thing. Trump wants to help agriculture. He wants to help agriculture since the tariffs, our exports to China for tariffs. Because of tariffs, agricultural products have dropped five and a half billion dollars. Overall, agricultural trade has dropped 28.6 billion dollars since the trade war started. We look at the PMI report, I’m looking at it right now. He started off when he was elected. Economic output from manufacturing, which is what the tariffs are about, in his mind, grew until the tariff started. We’ve had five consecutive months of manufacturing contraction in the United States as a result of tariffs. So, if I could just somehow convince the president to get off the tariff bandwagon and stop owning other companies (Intel) that’s not his job, things would be so good. You wouldn’t be able to measure. You know, we could borrow some adjectives from Trump, the best economy you’ve seen in history, if you could just get off the tariff bandwagon.

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