‘I’ll never vote for him again’—Iowa farmers explain why they are off the Trump train
If the farmers are feeling the pain now, they need to buckle up even more because this week Morgan Stanley warned the Trump-led trade war is leading the global economy into recession. From Newsweek:
The warning comes shortly after the bank’s chief U.S. equity strategist warned of an American recession if Trump put tariffs on additional Chinese imports. Last week, Michael Wilson said that increased tariffs on Chinese goods would detrimentally affect companies.
“We are unconvinced that companies will generally be able to fully offset tariff costs through raising prices or through cost efficiencies elsewhere, meaning tariffs will press on margin,” Wilson said, according to CNBC.
He said that if Trump followed through on his threat to levy 25 percent tariffs on remaining Chinese imports, “we are inclined to think this has the potential to tip the U.S. economy into recession, given the cost issues companies are already dealing with.”
Donald Trump came into office and immediately began reversing all of President Obama’s progress—from environmental regulations to equality and now, the strong economy he inherited as well. It’s just a shame these Iowa farmers couldn’t identify how unqualified Donald Trump was to lead the largest economy in the world, he’s doing to the same thing he’s always done—squander his inheritance.
More at http://www.dailykos.com/stories/1859549