'Trump's Corruption Is What's Tanking the Economy'
(TPM) "The economic mess we’re in is entirely of Trump’s own doing. He’s not the usual American president held hostage to the vagaries and cycles of an economy largely beyond his control."
"In historic fashion, Trump has torpedoed key pillars of the global economy by launching unprecedented trade wars and an unjustified elective war in the Middle East that has bottled up world oil supplies to such an extent that it threatens a recession. At home, he has dramatically throttled back the economic engine of immigration, targeted America’s world leading universities, and decimated its vibrant scientific and biomedical research base."
"Except for the racist assault on immigrants, all of these moves are not driven by ideological imperatives but by corrupt impulses. The economic damage Trump has done was crafted purposely to create opportunities for self-enrichment for him and his allies. It generates its own currency which can be used to perpetuate his political power. What he dispenses he can take away."
"The AP sums up the Trump family kleptocracy succinctly: The family real estate business is undergoing the fastest overseas expansion since its founding a century ago, each deal potentially shaping everything from tariffs to military aid. Led by Eric, and his brother, Donald Jr., the family business has expanded into cryptocurrencies with ventures that brought in billions of dollars but raised questions about whether some big investors received favorable treatment in return. The brothers have also joined or invested in a number of companies that aim to do business with the government their father runs. Last month, they struck a deal giving them stakes worth millions in an armed drone maker seeking contracts with the Pentagon and with Gulf states under attack by Iran and dependent on the U.S. military led by their father."
Complete article at link:
https://talkingpointsmemo.com/morning-memo/trumps-corruption-is-whats-tanking-the-economy