I have no confidence in the Trump administration’s ability to guide us through the current Trump Recession, the coronavirus pandemic or the rapidly approaching Trump Depression. I have good reason to feel that way and I have a lot of company. Let’s explore.
I am writing this on Monday morning. I awoke to morning papers telling me that the Fed had announced that it would buy Treasury bills and mortgage backed securities “…in the amounts needed to support smooth market functioning”. Basically that is a blank check to stabilize those markets. Despite that action the Dow was down 300 points in early trading. Now 300 points isn’t that bad considering the last several weeks but news like that should have made the markets soar. “The Street” has lost confidence in the Trump administration, period.
As of this writing we still don’t have relief for workers adversely affected by the coronavirus shutdown of the economy. The problem appears to be Manslaughter Mitch McConnell who has been insisting on legislation that would put bailing out corporations first. (Some of those corporations no doubt are owned by friends of his including Donald Trump. Where I come from that is called self-dealing.)
Plenty of trading on insider information has gone on and was largely unpunished in the halls of Congress for decades. If a complete investigation was ever launched – and it won’t be – I am certain we would uncover offenders from both parties. In recent days the tale of North Carolina Republican Senator Richard “Bank Run” Burr has been unearthed. Burr dumped well over $1 million dollars of shares in industries hurt by the coronavirus just after he, in his Senate capacities, was briefed on the then-forthcoming events. In itself this event is only cause for suspicion and investigation; now let’s add a little background. The sale is totally out of character for how Burr normally manages his investments. In 2008 during the lead up to the Great Recession Burr called his family to tell them to get all the cash they could out of the banks because a bank failure was a very real possibility. That is when he earned the moniker of Bank Run Burr. In 2012 Burr voted against the Stop Trading on Congressional Knowledge Act (a/k/a The Stock Act) which specifically bans what Burr is accused of doing. Burr chairs the Senate Intelligence Committee and has a voting record of supporting Trump. You connect the dots; I’m a believer in Nance’s law so you know my initial conclusion.
In Ohio State Attorney General Republican Dave Yost (serving under Republican Governor Mike DeWine – he of the recent illegal stop the voting fame) declared abortions as non-essential medical procedures and therefore they are currently banned in Ohio. I know that most Republicans are scientifically challenged but pregnancies are finite and therefore abortions are time sensitive. They often can’t wait for weeks or months. This edict just strikes me as too convenient considering the interest groups people like DeWine and Yost cater to.
New unemployment claims are spiking and the Trump administration, rather than focusing on the issue at hand, is concerned with keeping up appearances. In fact they have asked state unemployment agencies to delay reporting numbers. You can lie about the data all you want but that doesn’t change the reality.
In a stunning reversal last week the Justice Department dropped their case against a Russian firm owned by oligarch and Putin ally Yevgeniy Prigozhin which was indicted in the Mueller investigation for interfering in the 2016 election. This was a convenient time for Bill Barr to shield his client (that’s how Barr views Trump) using the coronavirus pandemic as cover.
It is apparent that many more events will be cancelled and much later into the spring than originally anticipated. Sunday Canada was the first country to pull out of the 2020 Tokyo Olympics scheduled for July 24th through August 9th. I expect the event will be cancelled.
Last week Thursday the White House quietly cancelled the G-7 meetings that were slated for Camp David in June.
Last week Wednesday early Trump endorser former Representative (he only recently resigned well after he was found guilty) Duncan Hunter became the second then sitting Republican House member to endorse Trump to be sentenced to prison. In his case it is to 11 months primarily for criminal misuse of campaign funds.
Birds of feather do flock together and despite my best efforts and five articles a week I can’t cover all the evil of Trump and his sycophants. Trump is just the political tip of the iceberg; like an iceberg the entire Republican Party is dangerous!
The only honorable thing for Trump and his minions to do is to submit a mass resignation. Under our Constitution that would yield a Pelosi administration; one that Americans and the world could justifiably have confidence in to take prompt and appropriate actions. That won’t happen because it would require honorable people of which the Trump administration is devoid very much including the man at the top.
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