If the economy is your primary concern: you must read this.

During President Obama’s second term the Dow Jones Industrials began reaching record highs. Mr. Obama’s focus on our nation’s economic recovery aided large corporations in an effort to increase employment and ensure that all Americans would experience a better lifestyle.

When Trump took office, what Mr. Obama began continued to show signs of success. There were no changes in economic policy added by the Trump administration, although the braggart took credit for Mr. Obama’s efforts.

The truth is that Trump has done nothing with the exception of placing ill-advised tariffs on imports and giving huge tax breaks to the wealthiest Americans, while reducing the corporate tax rate from 35 percent to 21 percent. The result of the former is a loss of jobs and family farms. The result of the latter is an increase in the national debt of more than one-trillion dollars each year; forecasted to continue through 2025.

When the coronavirus began in China, Trump and his incompetent administration ignored it. In fact, he cut funding for the Center for Disease Control: the CDC.

Today there are more than 78,000 cases worldwide and 53 confirmed in the United States. The CDC predicts an increase in both numbers; a substantial increase.

On Monday, the Dow Industrials dropped 1,000 points. Today, Tuesday 2/25/20, it fell another 879 points. There is no doubt that Trump is in “panic mode.” This virus has caused fear within the financial community which is demonstrated by the sudden downturn in the Dow.

One thing few Americans understand is that the controlling factor over stock prices is not entirely the result of economic changes in either direction. What the market fears the most is uncertainty; not knowing what will happen the next day, the next week, or the next month.

ABC News is reporting that, “The losses have been widespread. American Express, United Technologies Corp., Visa, United Health Group and Dow Inc. were among the worst performers on Tuesday, each falling more than 3%.

“Tech companies including Apple, which produce goods in China and rely on that market for sales, also suffered. The travel sector, including cruise operators and airlines, also took a hit.”

What no one else is talking about is the simple fact that America’s economy remains extremely fragile. When President Obama left office at noon on January 20, 2017, our nation was in full recovery. The future of America was suddenly in the hands of a failed businessman and his poor choices of an administration which would be responsible for the continuation of programs in place to save our economy.

One by one Trump removed the accomplishments of a great president and his extremely qualified administration. Our nation is suffering from the end of the leadership of a great presidency and the passing of complete control of the future of 330 million Americans to a group of incompetents.

If a cowardly and hypocritical party continues to allow their illegitimate fake-president to continue with policies which harm our nation’s future, our beloved country will become dependent on Russia, Saudi Arabia, and China for its existence. This would become a repeat of Trump’s failed business history.

“The Truth Lives Here”

Op-ed by James Turnage

SOURCE

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