Are you ready for the fourth consecutive Republican economic bust? Look around. Any prosperity you see will be gone in two years. It will come as a result of Trump’s corruption and bungling, and will be the latest in a sequence of GOP presidents leaving a mess for the Democrats to clean up. It took 12 years for Reagan and Bush I to produce the savings and loan debacle. They were busy hollowing out the heartland. (At least the banksters went to jail for the S&L bailout.)
It took 8 years for Bush I and his sidekick Alan Greenspan to produce the Great Financial Crisis. It took only four years and help from a virus for Trump to bungle away 800,000 American lives and the strong economy Barack Obama left him. I’m counting on only two years for Trump to produce his second economic disaster.
A trade war with your closest partners and deporting millions of productive workers will start the downward spiral if and when they happen. [UPDATE: Trade war is scheduled to kick off Tuesday, Feb 4.] The threat is already recessionary. Businesses thrive on stability and transparency; nothing like that is coming from the clown of chaos. Workers like to know they won’t be arrested for going to work; self-deportation may already be a thing; large scale deportation is still aspirational.
Big farmers in deep red states are no doubt on the horn with their senators so ICE doesn’t visit their farms. That’s where Trump’s criminals and rapists like to hang out doing the work other Americans eschew.
Inflation is coming. It won’t be demand-driven inflation from a surging economy like it was under Joe Biden. It will be cost-driven price hikes, first because the cost of tariffs is tacked onto import prices (domestic prices of any import competitors will also rise to collect the windfall), and second, as labor costs go up with fewer workers while production goes down from deportation and the threat of deportation.
Unfortunately, there is no presidential election in two years. Trump and his trademarked incompetence and corruption is locked in through 2028. So look around. These are the good old days.
UPDATE: The reason the economy is humming now is because of the investment bills passed by Congress under Biden. Ooops. Trump is trying to stop that with executive orders. That sound is the crumbling of your economy. www.dailykos.com/...
