Armstrong Economics Blog/Gov’t Incompetence
Re-Posted Jan 10, 2019 by Martin Armstrong
The reaction from the Democrats and the mainstream media against Trump is really absurd. VOXwrote that he should not even be allowed to address the nation. They wrote: “After watching President Trump’s primetime immigration speech Tuesday, my overwhelming impression was this: Why, oh why, did anyone think it was a good idea to air this on national television?” So here we have the pretend free press advocating filtering the news to be only what they support. Free Press does not mean they have the freedom to engage in personal propaganda.
CNN claimed to be a fact checker. They wrote that Trump overstated the entire illegal immigration position: “Available Customs and Border Protection data shows a total of 396,579 people were apprehended by the US Border Patrol for the fiscal year 2018 at the southwest border, which would mean an average of 1,087 each day — hardly the “thousands” that Trump purports. The numbers differ each month. The highest number of apprehensions was in September, with a daily average of nearly 1,400.” Of course, they omit the fact that number represents ONLY those they catch. Most rational people believe the number that makes it may be at least 3 times the number that they catch. If the border patrol caught 100% of all illegals, there would be no problem and no need for a wall in the first place. They also omit that employers violate the law by hiring people who are illegal and then exploit them as cheap labor.
Currently, the entire budget is $4.4 trillion for 2019. The interest alone to roll the national debt is $6.780 billion PER WEEK. The Democrats are shutting down the country blaming Trump over $5.7 billion – less than one week’s interest bill. The Democrats, which now has the majority in the House of Representatives, are unwilling to provide more than $US1.3 billion in border security funding, including money for only a fence rather than a wall. When I wrote to Chuck Schumer to help an alien who had become a victim of bank fraud who came here as a child, grew up in America, married an American, and had four American kids, any crime whatsoever they are deported splitting his family. Good old Chuck did nothing and would not even respond. So much for this being anything but politics.
All of this is demonstrating the severe damage being done to the economy over these stupid issues. The Democrats are only trying to undermine Trump and would vote against ANYTHING he proposes just to win the White House in 2020. The illegal trafficking coming across the border is pervasive. Even here in Tampa, when I moved here I was looking for a massage place to loosen my back with a deep tissue session. To my surprise, most places were sex joints with young girls who had been brought across the border illegally and made to work to support their family. The only place I could go with confidence was a chain I was familiar with from New Jersey – Hand & Stone. Since then, numerous towns have followed the ban on such places.
Nobody cares about the people. This is just politics and in the process, this demonstrates that Congress cannot govern anymore. Once we cross January 2020, this will grow in undermining the confidence in the government that will ultimately be reflected in the willingness to buy government debt. This Mexican Standoff has a more far-reaching impact for equities and commodities post-2020 than most people contemplate.