Trump Threatens Economic Apocalypse If Dems Take Back The House
As election day approaches for next week’s midterms, Donald Trump has done his best to strike fear into the hearts of voters about what might happen to the country if Democrats take the House, as they are widely expected to do.
Mostly, Trump has centered his fearmongering around lying about immigrants and asylum-seekers; suggesting that a vote for Democrats is a vote for a new law wherein every time a refugee even thinks about coming to America, a U.S. citizen is forced to join MS-13; and claiming, falsely, that he can and will amend the Constitution through executive order.
But now, the accidental president has taken an even more diabolical approach.
On Tuesday, though, he took an even more diabolical approach declaring that if Republicans lose control of the House, the market will crash and the U.S. inflation rate will hit 83,000 percent by December.
“If you want your Stocks to go down, I strongly suggest voting Democrat,” Trump tweeted. “They like the Venezuela financial model, High Taxes & Open Borders!”
You read that right, folks! It’s a slippery slope between casting a vote for a Democrat and the U.S. turning into Venezuela (a country one might expect Trump to be a fan of, given his fondness for authoritarian regimes). Incidentally, nowhere in Trump’s tweet did he mention what experts say actually sunk the markets yesterday: anxiety over the likelihood the president is dumb enough to ramp up his self-defeating trade war by slapping tariffs on all Chinese imports, if his singular negotiating skills don’t yield any results when he meets with President Xi Jinping on the sidelines of the G20 summit next month.
Of course, trump’s fear-stoking missive was necessarily devoid of the context that investors have likely understood for some time that a “blue wave” is imminent, and aren’t “taking a little pause” to see what happens. “Markets aren’t dumb. They can read the same polls as everybody else,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, told Politico. “They know that at the moment there is a very high probability that Democrats will take the House. I think from a rational market perspective, that news is pretty much in the price at this point.”
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