As you've probably noticed, we're not big fans of our so-called "president" here. Among many other things, he seems to thrive on chaos and appears to any rational observer to be in an out-of-control, twitter-fueled, free fall. We says one thing on Monday, denies saying it Wednesday, and then says the opposite on Friday. Rinse and repeat. There's no underlying policy or doctrine - he just says whatever it is he thinks will get him the most attention for the next news cycle and the biggest applause at the next rally as he continues to gas-light the nation.
But it's not as random as it seems. Not to give him too much credit, but his madness benefits the extremely wealthy, the 1-percenters of the country. Useful idiocy, I suppose.
I'll give you an example. A couple weeks ago, he announced a new round of tariffs against China. Broad, extensive tariffs on a large number of imports. The market freaked out, knowing that the move will have a chilling effect on trade and sales and profits will fall. As a result, stock prices plummeted.
But those who had the available cash (see "1-percenters," above) were able to grab up lots of stocks on the cheap, getting otherwise blue-chip assets at rock-bottom, yard-sale prices. Then Trump reversed himself, as is his want, saying he won't impose the tariffs after all, and the stock market went back to normal. All those stocks bought cheaply by the ultra-wealthy the week before were now back at their full, normal value.
Don't you see what this is? It's a redistribution of America's wealth, with the so-called "president" assisting, either knowingly or not, in the transfer to the wealthy of capital from working-class trust funds and retirement programs and pension plans. It's taking what little wealth remains in the hands of the people and giving it to the elites, the kleptocracy. It's robbing the poor to feed the rich.
When the so-called "president" says something particularly stupid, my IRA drops in value, and Koch brothers and Mellons and DeVoses and Bezoses get more stock shares. By the end of the week, I have less money and the rich have more.
Whether you know it or not, the same thing is happening to you.
Today's headlines say that the market suffered huge losses today due to the residual effects of America's isolationism and trade wars. Financial reports showed the German economy heading toward a recession, and factory output in China growing at its slowest pace in 17 years. The "good news" is that the so-called "president" may not be able to undo this catastrophe of his own making with a tweet or a denial, and an American recession may be just the event needed to limit him to one term.
We'll all lose money, but it will be money well spent if it removes his fat ass from the Oval Office.
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