A letter from Rhino Times reader Christian Rice

Trump has been very active during his first 100 days in office.  That is about the only positive comment I can make given that most of his actions have harmed our economy for the next several years if not for decades.   This is not just a worrying liberal minded person’s gut feeling.  The early indicators are all pointing to a negative outcome for the US economy. The leading indicators pointing to our economic downturn are:

–          Stock market volatility and decline (Morningstar US stock index is down -8%)   (Note all other major economy’s market indexes are up.  For example:  Germany +18%, China +12.4%, Europe +10%, Japan +9% and even Canada is +4% based on Morningstar indexes.

–          US Dollar Index is down almost 6%

–          Job creation down over 50% from the 1st Quarter average

–          Consumer confidence down over 17% since Trump took office and declining

–          Negative GDP growth even before tariffs kicked in

–          Farmers are the early victims of Trump’s trade war with exports of the soybeans to farmers’ largest export market down 77%

Another key warning sign is that these figures are just the tip of the iceberg of the mess Trump is making of the US economy is the sharp drop in Pacific Coast shipping.   Vessel arrivals are down 29% week-over-week and 44% year-over-year.   This indicates a significant disruption to US supply chains and will soon lead to layoffs in trucking, shipping, manufacturing, and retail.  Sounds a lot like what covid did to shipping during Trumps first term and we all remember how well that went for the US economy.

Trump, of course, blames Biden.  Two things should tell you he knows this is BS.  First, he claimed credit for the booming economy and stock market at the end of Biden’s term claiming that businesses were excited about his upcoming election victory.   Second, he stated today that he will blame Biden for negative GDP next quarter as well.   Trump has a habit of projecting for sure, but also note, this indicates how much he understands that the economy is going into the tank.  He just doesn’t care.  About you or the economy.

Doesn’t take an economist realize that suddenly shutting down trade with one of our largest trading partners is going to have a massive impact on the US economy.  Not to mention all the other trading partners who he made enemies of the US economy with bully tariff tactics.

Trump inherited a very strong economy from Biden.  He is destroying it along with everything else in this great country.  We can and should be better.

Christian C Rice