Con artist blames companies rather than his own tariffs

[someoneyouknow]

President Donald Trump on Friday appeared to accuse companies of falsely claiming that they've been hurt by his escalating trade war with China, instead saying they're mismanaging their businesses.

“If the Fed would cut, we would have one of the biggest Stock Market increases in a long time. Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management...and who can really blame them for doing that? Excuses!” Trump wrote on Twitter Friday.

It should be noted, in the 40 years the con artist has been in business, he has had 14 failed companies, 6 bankruptcies and as of now, only one of his current holdings turns a miniscule profit. His golf courses in Ireland and Scotland are bleeding money and he's about to pour millions more into their "renovations".

However, when asked about his failures, he proudly comes up with new and inventive excuses for why his companies, run by him, repeatedly fail. Perhaps he was simply projecting his own failures onto others who are still able to turn a profit despite his tariffs which are costing consumers at least $1,000 and companies millions in lost revenue.

https://www.politico.com/story/2019/08/30/donald-trump-china-trade-war-1479012

 

[magicalmoments]

This exemplifies the hazards of a socialist controlled economy.
The USA and its citizens proudly trumpet what they regard as their capitalist, free market economic system and decry socialism and its failings.
Yet the truth is their "capitalist" system is underpinned by a range of socialist subsidies, tarrifs and tax breaks that create the illusion of capitalism. It's been like that for decades.
A controlled economy always fails and trump's manipulations in an attempt to level the playing field have misfired, rather than protecting USA interests and strengthening home grown industry it has done the opposite. Western industry will never compete with Asian industry where the value of labour is the smallest overhead cost in doing business.
He can't concede that he is wrong, or is at fault, so he blames the businesses themselves.
It's a downward spiral that will only end when you have a president that truly understands and appreciates the benefits of a true free market and is prepared to inflict the pain of transition back to true capitalism. And that's not likely with any of the contenders who have put their names foward for the job so far.