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Paul Krugman rips ‘pathetic’ big business as it finally starts to realize the problem with supporting Trump

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- Commentary

Big business has long been a major backer of the Republican Party, and with the election of President Donald Trump, who has slashed regulations and corporate taxes, many industry leaders basked in the success of their brand of politics.

But now that Trump appears to be following through on his promises of a trade war, industry groups are spooked.

The Washington Post reports that U.S. tariffs on China are set to go into effect on Friday, and China plans to respond in kind. If the retaliation escalates, we’ll be in a full-on trade war.

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As Paul Krugman explained in a New York Times op-ed Thursday, big business is finally reaping what it has sowed. And we can tell big business is nervous because leaders are finally speaking out against Trump’s tariffs.

“I don’t think this is going to get resolved easily, and I think these tariffs are going to hurt the U.S. economy,” said Rufus Yerxa, president of the National Foreign Trade Council, to the Post.

Major corporations and trade associations are sending letters to the administration warning that its policies will cost more jobs than they create,” Krugman writes. “Meanwhile, the U.S. Chamber of Commerce has begun an advertising campaign to convince voters of the benefits of free trade.”

He adds: “Pathetic, isn’t it?”

Even as they’re now decrying Trump’s self-destructive policies, they deserve a fair share of the blame. Krugman explains:

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For a long time business seemed to have this game under control: win elections with racial dog whistles, then turn to an agenda of tax cuts and deregulation. But sooner or later something like Trump was going to happen: a candidate who meant the racism seriously, with the enthusiastic support of the Republican base, and couldn’t be controlled.

Everyone knows the result of decades of coddling the most odious portions of the far-right: the rise of Trump. And big business also paved the way for Trump’s disastrous trade policies by endorsing ridiculous Republican theories of taxation — not believed by any credible economist — to pad their own pockets.

Now that Trump’s defiance of reasonable economic prudence poses a danger to their own bottom lines, businesses can’t credibly argue that the president should follow their advice.

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“So they’ve already accepted the principle that it’s O.K. to talk economic nonsense if it’s politically convenient,” Krugman writes. “Now comes Trump with different nonsense, saying ‘trade wars are good, and easy to win.’ How can they convince anyone that his nonsense is bad, while theirs was good?”

And it may get even worse for big business, Krugman writes, because Trump has no qualms about going after particular industries or companies out of spite. By promoting the Republican Party, industry leaders have unleashed a monster they can no longer control.

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Trump’s attacks on Biden’s mental fitness just draw attention to his own problems: Joy Reid panel

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MSNBC host Joy Reid gave some helpful advice to President Donald Trump and his children, who frequently attack former Vice President Joe Biden for his mental health: It makes you look worse.

Speaking to her closing Wednesday panel with Jason Johnson and Howard Fineman, Reid showed a super-cut of Trump's knack for getting words wrong, not knowing how to pronounce simple things, slurring his words, stumbling down the stairs, not knowing where to go, dragging his feet and more.

"Well, you know, my pretext for all my students this fall will be: person, woman, man, camera, tv, and if they can do that, I know they're at least as smart as the president," joked Johnson. "Here's the thing. Joe Biden demonstrated that he literally can ride a bike and do something else at the same time. Like, I have always thought the argument that Joe Biden has lost a step or has some sort of mental deficiency was a complete lie. It's Republicans just projecting. What's important to remember is that no matter how much they spout this nonsense, every single time Donald Trump opens his mouth, he looks worse. There is nothing Joe Biden can say that is more foolish or incoherent than Donald Trump in the middle of a substantive interview."

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Here’s how Trump’s ‘nasty’ jab at Kamala reveals his misunderstanding of women

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President Donald Trump has reprised one of his most common attacks on women — "nasty" — to describe Joe Biden's running mate, Sen. Kamala Harris (D-CA).

On Wednesday, writing for The New York Times, Katie Rogers broke down how the president's continual attacks on women in politics — combined with his characterization of women voters — reveals a fundamental misunderstanding of modern gender norms.

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Congresswoman criticizes Republican press guy for claim Black folks don’t care about Kamala Harris: Does he know any?

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Rep. Karen Bass (D-CA) hilariously mocked former press secretary Ari Fleischer, who worked for former President George W. Bush's White House. Fleischer claimed Black people won't be that excited about Sen. Kamala Harris on the ticket.

"She's just not that historically exciting to African-Americans," said Fleischer speaking to Laura Ingraham during a Fox News appearance after the announcement.

During a conversation with MSNBC's Joy Reid, the host called Fleischer "a sort of a bygone era Republican voice" and asked Bass to listen to his comments.

"I wonder how many African-Americans," asked Bass, chuckling.

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