Seems tariffs have reversed trumped up expectations

by WARREN MOSLER

With personal income decelerating shouldn’t surprise anyone if personal consumption does same, not to forget benchmark revisions just took employment down by 500,000 dampening that source of personal income:

US Personal Income Grows the Least in Nearly a Year

Personal income in the United States increased 0.1 percent month-over-month in July of 2019, following an upwardly revised 0.5 percent gain in June and below market expectations


Seems tariffs have reversed trumped up expectations:

Somehow he keeps getting more absurd, displaying delusional notions of cause and effect:

President Donald Trump on Friday argued “badly run and weak companies” have blamed his trade war with China for flagging business in order to mask “bad management.”His tweet comes as more companies from a range of industries have started to slam his tariffs on about $550 billion in Chinese goods. Earlier this week, more than 160 industry groups criticized Trump’s latest move to slap duties on Chinese products.Trump, who has tried to pin blame on the Federal Reserve rather than his trade conflict with the world’s second-largest economy as concerns about a looming recession grow, said companies “are smartly blaming these small Tariffs” for their difficulties.“And who can really blame them for doing that? Excuses!” the president tweeted.

“General Motors, which was once the Giant of Detroit, is now one of the smallest auto manufacturers there,” Trump tweeted Friday, a day after Bloomberg News reported GM employed fewer United Auto Workers-represented employees than Ford Motor Co. or Fiat Chrysler Automobiles NV. The president called for GM to “start moving back to America again.”

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