The international money brokers meeting at Davos are warning about the effects of a
Very Stable Genius' tariffs and government shutdown:
Today growth is decelerating, especially in China and Germany, Trump’s tariffs are starting to bite and the U.S. government is in the midst of the longest ever shutdown, which is starting to have a serious impact on the economy. Trump was supposed to speak in Davos this year but his entire delegation is staying home because of the shutdown. [snip]
The U.S. was supposed to be a bedrock of the global economy this year as hiring and confidence remained strong heading into the year, but the shutdown is starting to shake sentiment.
The IMF warned that a “protracted” government shutdown would be a sharp drag on U.S. growth. The Federal Reserve and many others have made similar warnings. What’s concerning for many executives about the shutdown is that Trump appears unwilling to make necessary compromises.
“If you want to be a superpower in the world — and the U.S. still is — you have to engage with people,” said Hans-Paul Bürkner, chair of the Boston Consulting Group. He warned that “everybody will be a bit more careful” until the shutdown and trade disputes are resolved.
If the rotted out Republican Party wants to keep its campaign money spigots going, as well as avoid an economic slowdown (if not recession) that the Very Stable Genius and his enablers will be blamed for, it might behoove them to extricate themselves from the catastrophes said Very Stable Genius has blundered into. But we won't be holding our breath.
