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‘Megalomaniac’ Trump could tank the whole economy: Former Clinton labor secretary

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Trump doesn’t want the public to think the stock market has tanked because of Trump’s government shutdown, his trade war with China, and the $1.9 trillion increase in the nation’s debt caused by his tax cut for corporations and the wealthy. (Actually, these are the major reasons for the market’s drop.)

So he’s blaming the Fed and its chair, Jerome Powell, for raising interest rates. And he’s ordered his staff to find a legal rationale for removing Powell. (It’s highly unlikely Trump has legal authority to do this, but like every other illegal thing Trump has tried, it may end up in the federal courts.)

Which is rattling investors even more, because they worry Trump is trying to turn the Fed into his own political tool.

All modern economies depend on public confidence that politicians can’t lower interest rates to serve their own purposes – such as getting short-term growth at the expense of long-term inflation and instability. (Which is exactly what Trump wants to do.)

Adding to the panic is Treasury Secretary Steve Mnuchin, who announced today that he called bank executives in order to ensure that markets are functioning properly – an intervention that Treasury secretaries typically make when there’s an economic crisis.

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Bottom line: Trump’s ego and his economic team’s incompetence not only threaten the stock market, but could tank the whole economy.


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Black Georgia lawmaker accuses white man of demanding she ‘go back where she came from’ in supermarket diatribe

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On Friday evening, Erica Thomas, and African-American Democratic lawmaker in the Georgia House of Representatives, was shopping at a Publix supermarket in Mableton when a white customer came up to her and shouted at her, telling her to "go back where you came from" — words echoing President Donald Trump's recent racist attacks on four Democratic congresswomen of color.

Thomas' crime? She had too many items for the express checkout line.

Today I was verbally assaulted in the grocery store by a white man who told me I was a lazy SOB and to go back to where I came from bc I had to many items in the express lane. My husband wasn’t there to defend me because he is on Active Duty serving the country I came from USA!

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Trump mocked for tweeting he’ll ‘personally vouch’ for rapper A$AP Rocky’s bail: ‘Now name three of his songs’

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Twitter users were both baffled and amused on Saturday morning after Donald Trump tweeted that he would "personally vouch" for the bail needed to release American rapper A$AP Rocky from a Swedish jail.

After receiving a phone call from celebrity Kim Kardashian about the plight of the hip-hop star overseas, the president -- in the middle of a racism scandal himself -- appears to have taken up the cause in an effort to calm racism charges.

Not everyone on Twitter was buying it.

See below:

Just had a very good call with @SwedishPM Stefan Löfven who assured me that American citizen A$AP Rocky will be treated fairly. Likewise, I assured him that A$AP was not a flight risk and offered to personally vouch for his bail, or an alternative....

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Trump echoes another president who stoked fear rather than face the tech-based economic change he failed to stem

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It is amazing how similar America in 2019 is to America in the 1920’s, a decade that began almost a hundred years ago. It is as if America is reliving its own history, trapped in a prison of deja vu, purposely not wanting to remember the disaster that unfolded as the 1920s ended.

The parallels are striking, the anti-immigration frenzy, race-baiting, trade wars, over-heated stock markets, corruption, and technological changes that produced hip urban centers contrasting with rural alienation and bitterness. Like today, the 1920s was a period of spectacular wealth and an ever-increasing income gap.

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