I realized this morning that Trump has pulled off something that I thought was impossible.
As candidate Trump, the economic tweets were all about how the numbers were fake news. The unemployment headline numbers were hiding the underemployed and labor participation rate. The high stock market was artificial. And the beauty of it was that he was right.
This was a message the resonated with a lot of voters. And sure enough, he got elected.
Then as the president, he turned around completely. The economy is great, I'm great, blah blah blah.
At this point all the economic talking heads were saying the same thing: if he takes credit for the boom, he'll take the blame for the crash. Because all the same factors are true about phony numbers obscuring reality.
But now I realize that Trump is actually going to dodge the blame! It's amazing. It's all the Federal Reserve's fault, and specifically Powell's fault.
When he started this line of attack, I ignored it. But it's picking up steam. And I think it is going to work.
Net result, he's going to take the good, drop the bad, and use that as a rallying cry for the next election. Utterly amazing.
And it just goes to show how utterly morally and ethically bankrupt politicians are. A normal person would not be able to hold that level of cognitive dissonance, much less proclaim it to the world. But power-hungry psychopaths and gonna power-hungry psycopath.
