Wednesday, September 11, 2019

It's this kind of stuff - today's edition

Look, I'm not saying the Very Stable Genius should spend the entire day commemorating the September 11, 2001 attacks. He has a lot on the presidential plate that he ought to be tending to. Plus, we're going to see such a surfeit of where-I-was indulgences in feelings today that banality in the pursuit of a proper comprehension of the magnitude of that day is inevitable, and I'm not sure that he could weigh in without befouling matters more with his bombast and self-absorption.

But it does seem like a really inappropriate time to rage-tweet over "Fake News" and his poll numbers and brag that he's done more than any president has in two and a half years.

Actually, I'm not sure that the nation is better served by him sticking to what is on the presidential plate, either. His style for doing so leads him to pull stunts like this:

President Donald Trump on Wednesday continued his verbal assault on the Federal Reserve, which he blames for slowing the economy, tweeting that the central bank should cut interest rates to zero or even set negative interest rates. The president also called Fed officials “boneheads” in the tweet.
“The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term,” he said.

A Fed spokesman declined comment on the latest Trump salvos.
The president also made a new suggestion not seen in some of his past attacks on the Fed, saying that the country should refinance its debt load. The U.S. has $22.5 trillion in debt, $16.7 trillion of which is owed by the public. 
The refinancing move is unprecedented, but he's been thinking along these lines for some time:

During a CNBC interview in May 2016, Trump said that if the economy turned south, he would try to get creditors to accept partial payment on U.S. debt.
“I would borrow, knowing that if the economy crashed, you could make a deal,” he said then. 
After all, this kind of modus operandi characterized his previous life as a developer:

President Donald Trump . . . acknowledged taking massive tax write offs for real estate losses topping $1 billion from the mid-1980s to mid-1990s, calling it “sport” among developers like himself during that period.
Trump was reacting to a New York Times report Tuesday that his businesses lost more than $1 billion from 1985 to 1994. The newspaper said its reporting was based on printouts it acquired of Trump’s official IRS tax transcripts, including figures from his federal tax form.
Trump reported business losses of $46.1 million in 1985, and a total of $1.17 billion in losses for the 10-year period.
The president appeared to defend his actions in a pair of tweets early Wednesday.
“Real estate developers in the 1980′s & 1990′s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases,” Trump tweeted. He contended the reported losses were “non monetary.”
“Sometimes considered ‘tax shelter,’ you would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport,” Trump said.
"Sport." Wheeee! What a blast!

He is incapable of thinking in terms of whether particular courses of action are honorable.  He's perfectly willing to leave creditors hanging if he gets a "win."

I have absolutely no respect for Donald J. Trump.


3 comments:

  1. Surely you realize that a large segment of his TP/Republican base are 9/11 Truthers

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  2. That's not the only way in which his base is full of shit. What's your point?

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  3. Don't expect him to fawn all over 9/11 is all.

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