The violence in El Paso and Dayton proved House Speaker Mitch McConnell has one objective. Mitch’s mission is to block all legislation from the Democratic-controlled Congress even if the legislation may help curb gun violence in the United States. Mitch also thinks protecting President Trump when he violates the constitution is standard operating procedure for Republicans, according to the Washington Post.
The Democrats want Mitch to get out of bed and come back to Washington to debate the two Congressional bills he let sit in the Senate for six months. But McConnell told the press he’ll stay home and let the all fury over his incompetence die down before he returns to block more important legislation, according to the New York Times.
Mr. Trump went after Federal Reserve Chairman Jerome Powell after China devalue their currency. The Chinese devaluation sent investors running for the gold market as well as the bond market. But Ten-year and 30-year bond yields won’t put much coin in investors pockets. The inverted bond yield curve indicates the U.S. is on the road to another recession. Economists claim a global recession is only three quarters away, and the U.S. could be in full recession mode by the second quarter of 2020.
The Trumpster wants Powell to manipulate the dollar so American products are more competitive. Mr. Trump wants the Feds to hide the damage his tariff war inflicts on the nation. But the Feds won’t do Trump’s dirty work, according to Mr. Powell. Wall Street thinks the Feds will cut interest rates in September and October to help stop the economic bleeding from Trump’s trade war. But that might not happen if Trump continues to attack Powell and the Feds.
The president hurt American tech companies when he banned Huawei from doing business in the United States. Most tech companies need Huawei products. Google’s Android operating system is one of Huawei’s smartphone ingredients, but the Chinese rolled out their new HongMeng operating system to counter the ban. The Chinese will use HongMeng in TV’s first, and then they will incorporate it into their smartphone production.
Google is a target in Trump’s trade war. Trump thinks Google plays favorites, and he claims he’s not one of their favorites. Mr. Trump claims google controlled the flow of information to the public in 2016 so he would lose the election. But that’s not how Google’s algorithms work even though a disgruntled Google employee made that claim. There is no proof Google tried to stop Trump in 2016 or they want to bring him down in 2020, according to several news reports.