I am not an economist and I don't try to play one on the blog, but yesterday's stock market results in response to a dip on the bond market are worrisome to me, not because I especially know what that means for the economy (former Federal Reserve Chair Janet Yellen says it might not even mean a recession, and she would know a whole lot more than I do), but because I have a read on how the current president deals with things he doesn't know how to handle, and it's not great:
I don't think this problem is going to be fixed by yelling on Twitter--but the man can't help himself.
What I see is that Trump didn't learn from the last crash and deregulated the financial industry, taking off brakes that were put in place to prevent Bad Things from happening again, and his "trade war" scheme hasn't really been an all-around success for the economy. (He has, between the lines, almost admitted that the US consumer actually pays the tariffs on imported goods with his recent delay of the next round as a "Christmas present.") His goal to shrink the trade deficit has not worked.
And as for ways we chip our way out of a recession, he's already got us in massive deficit spending. Also, he has deepened the polarization in Congress with antogonism. If things go bad, I simply don't see him as the guy to help make anything better.
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