Everyone knows that Trump will ruin, but fear and greed prevent resistance.
Usually this is a mistake to blame for the fluctuations of the stock market of only one person – even if they are the US president. But there is nothing normal in Trump’s era. The stock market is in the Tisha, and the wine is not difficult to find: Donald Trump. S&P 500 will decrease by 10.1 percent From his peak the moon because it technically means that we are in “correction”. If this slide continues through its current trajectory, it will not be long before the correction turns into an open catastrophe, resulting in a decline.
In 1929, at the beginning of the disaster on the stock market that opened a large depression, Variety ruled the famous title: “Wall -Strait puts an egg.” Now you can imagine the continuation: “Donald Trump is putting an egg.”
This economic shock is due to two factors: the wrong changes in Trump’s policy and the original misconception about Trump. If Trump won his second presidential term in November, Wall Rate Enjoyed a strong stock Because he hoped that Trump would rule, as in the first term. In 2017, Trump came to the post, talking as a radical economic populist, his actual work was as a standard Republican with a larger business, more interested in reducing taxes and deregulation than industrial policy or expanding workers’ capabilities. However, Trump initiated a new trade war with China (Joe Biden’s politician continued) and talked Nafta (now rebranded US-Mexico or USMCA agreement).
But both changes were less revolutionary than it seemed. Step before CHILDRY CONSIDERS AS Economic Threat already started under the Obama Barack; And USMCA is basically a cosmetic change in NAFTA. In other words, both politicians were part of more continuity. In addition, Trump often relied on standard republican businessmen, such as the chairman of the federal reserve system Jerome Powell and the Treasury Secretary Stephen Mnuchin, both avatars of the stability of well -preserved capitalism. As for the foreign policy, Trump’s dependence on the military as John Kelly and Mark Mi, he became convinced that he also did not depart from the national security consensus. However, Trump’s White House was launched by intrigue and struggle, but in terms of politics it was much more like a regular republican administration than anyone was waiting.
Expecting that Trump 2.0 will repeat Trump 1.0, Wall -Rate looks forward to another round of tax reducing and de -deregulation, with the threat of a new trade war is considered largely rhetorical. Unfortunately, Trump and his circle were radicalized while being. It seems that Trump has decided that in the second term, he was really going to meet the agenda of protectionism and foreign policy.
Instead of Stephen Mnuchin, Trump’s main economic advisor is Elon Moscow-Product not with a blue chip-street, but with Swashbuckling Silicon Valley. Musk, who now instructed to pull out the administrative state, came from the world where the violation of the enshrined practices and the synergies of the government/business are regarded as a keys to wealth. Suddenly, the students of the Sanford, who are infected with acne, are a non-centenary of their literal adolescents for reducing government agencies.
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The secretary of Trump’s trade, Howard Lutnit, shares his boss with his feet and biting tariff fights. The United States suddenly found themselves in a number of pieces with Canada, Mexico, China and the European Union. These trading partners also waited for the return to the transactional Trump first term and were surprised to find that this time he was really devoted, though wrong to trade wars. Over the past few weeks, the sample is that Trump has raised tariffs and then begins to reduce them when it occurs with revenge and when the stock market is Tan.
As The New York Times reportsEuropean officials were shocked when Trump was not “transactional” but simply irrational:
As the tin-tat trading war stands in the equipment, Europe faces a difficult reality. Many European officials are unclear what Mr. Trump wants. Tariffs are sometimes explained by administration officials as an effort to align the game conditions, but they are also quoted as Tool for collecting money for us, treasury to pay for tax reducing, or floated as way to punish the EU for adjusting technology companies.
Trump’s uncomfortable policy, which changes wildly from day to day, is frightened by Wall Rate. Another New York Times article reports The fact that the current slide on the stock market is motivated by “rise in pessimism of investors about the performances of the WHIPSAWing policy coming from Washington over the past few weeks. Again, federal workers’ federal workers have caused concern for Wall Street.”
The Wall -Restitis can be not easy, but still remains quiet. The main feature of Trump’s second term is not only a much more radical set of policy, but also a broad fear in many institutions that violate the president, who demonstrated all the inclinations to use both his bully and the state power tools to punish the perceived enemies.
On Wednesday, The Wall Street Journal report“As business executives speak of Trump administration privately, it is noticeably different from what they can say in public.”
The newspaper refers to the recent meeting of the Director General of the Yale Director, which involved such high videos as Jamie Dimon Jpmorgan Chase, billionaire Michael Della and Albert Barla Pfizer. According to Jeffrey Sonnenfeld, Professor of the Yelsky School of Management, who participated in a private meeting, “there was a universal disgust against Trump’s economic policy. They are also especially horrified to Canada.”
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Despite these private concerns, these leaders obviously do not want to voice Trump’s public reproaches. According to The Wall Street Journal“When asked how much the stock market will need to be reduced to talk collectively, 44% replied that they needed to fall by 20%. Another 22% said the stock should fall by 30% before they take the position.”
This silence is partly connected with the political hunting with the rest of Trump’s economic agenda – especially tax reducing and de -deregulation. It is also due to cowardice, because “they are worried that public criticism will make them the target of the president.”
Self-censorship on Wall Street is a work with a greater failure of the American elite in the Trump era. The Institute behind the institution – as political parties, the media, the Academy – we are convinced of Trump, despite the expression of private concerns of his policies.
The only hope for Trump’s resistance comes not from the elite, but from the people. Voters are just as worried about the wrong handling of Trump’s economy, as well as Wall Rate. It seems that public opinion has a change of sea. Due to reliable job growth in the first term, Trump was usually highly appreciated as an economic manager. This is not the case. On Wednesday, Politics report“When asked about how Trump treated the economy, 56 percent of adults said they did not approve, and 44 said they approved, reports A CNN/SSRS survey released on Wednesday morning“
Public anger in Trump’s economic policy can be seen in the Town Hall, where voters preserve republican legislators for complicity and democratic lawmakers. It is also possible to see in big crowds Senator Bernie Sanders holds rallies against Trump. The open question is: how long it takes the Democratic Party as a whole to start after the leading Sanders.
Wall -Rate will never be at the forefront to withstand Trump, which means that the work falls on the people themselves – and any politician who is bold enough to take on the fight.
The hard and chaotic second term Donald Trump is just beginning. In the first month, Trump’s office and his Like -Elon Musk (or this is the opposite?) Proved that nothing is safe from sacrifice at the altar without checking strength and wealth.
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Further,
Katrina Vanden Hievel
Editorial director and publisher, A Nation
More than Jeet Heer 
While the United States was a restless nation long before the Coronavirus, our inability to regard the pandemic as a strong emergency, helped to give birth to this unpleasant moment.
