Fed Cuts Interest Rate to Zero: Bowing to Trump Will Destroy America’s Recovering Economy

Trump Lying

First, what DJT and his hypocritical party hate the most: the truth. For the past three years your illegitimate president has bragged about the economy. He has done nothing to create jobs, or encourage manufacturing in America. Every positive aspect of the economy is the result if efforts made by President Obama’s administration.

Trump’s “accomplishments” are huge tax cuts for the wealthy, and excessively large corporate tax cuts which added 1.2 trillion dollars to the deficit.

However, Trump’s ignorant cult continues to believe his lies. His reelection depends on a solid, growing economy, and his failures with tariffs and tax cuts, combined with the negative effects of the coronavirus, have resulted in a stock market crash, and trillions of dollars lost by the multiple industries who have virtually shut down operations.

The ignorance of DJT and his cult continue to believe that the stock market defines our nation’s economy. The Dow is only an indicator of more serious problems.

However, the Fed cut interest rates to zero this weekend in a vain effort to revitalize a plunging stock market.

“Fed Chairman Jerome Powell pointed out at his press conference, the ball is in the federal government’s court.”

What will your incompetent president do next? He’s tried everything, from blaming China, Democrats, and the “deep state” for his own failures. He was the worst possible choice in 2016. Millions of voters failed to become informed and helped him win the Electoral College. This mistake has cost our nation its respect, its principles, and will soon destroy a recovering economy. Many leading economists believe that the next recession will be far worse than the one created by Bush 43 in 2008.

Trump claims to be a successful businessman, but a little research reveals that his entire private life is a history of failures and now he’s failing 330 million people.

Trump’s reluctance to believe scientists about the seriousness of the threat from the coronavirus caused more change in the market than the virus itself. The Dow Industrials hate the unknown more than anything else.

The American people have come to expect one fact: Trump makes poor decisions constantly. From his trade war with China, which began with his unilateral decision to place additional tariffs on imports, to his decision to reduce taxes for the wealthy and cut taxes on corporations to a level so low some paid no taxes in 2019, and now a failure to act quickly and decisively to lessen the spread of the coronavirus we cannot trust DJT.

Cutting the interest rate to zero will fail, and when it does there is no place to go. Trump’s single effort to fight the coronavirus was a proposal to lower or eliminate payroll taxes. Both parties voted against this option. He refuses to take this pandemic seriously.

America will recover from the current threat to our nation’s health, but will Trump’s presidency? Although his cult will vote for him again, they compose a small percentage of voters.

On November 4, 2020, we will know the answer to these questions.

“The Truth Lives Here”

Op-ed by James Turnage

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Image courtesy of DonkeyHotey

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