by William Skink
Like a pack of hyenas, US corporate media is suddenly yapping about a recession. Democrats will gleefully label it the Trump recession and the media will dutifully pin it on Trump and the trade war. Since Trump has stupidly (or with stealth complicity) claimed the high-mark of the stock market, the trap has long been set.
If you think the upcoming recession, which we are already in the early stages of, is the sole fault of Trump and his trade war, then you are a victim of propaganda. Similarly, if you think there was something called a “recovery” from the last economic crisis, you are the victim of propaganda.
The culprit of economic misery going back to the Great Depression is the Federal Reserve. The policy decision in 2008 by the Fed was to defer dealing with the ponzi-like derivative blackhole by pumping low-interest liquidity into the market. The result has been to re-inflate a huge economic bubble that has to, at some point, burst.
Enter Trump and the alt-right populism he represents. What better scapegoat for the next phase of the economic crisis?
One writer who has been articulating the concern that Trump and his base is being set up to take the fall for the next economic crash is Brandon Smith. Here is an excerpt from his latest post:
Anyone who has read my work for the past few years knows I have been warning about Trump as a false prophet for the liberty movement and conservatives in general. And everyone knows my primary concern has been that the globalists will crash the Everything Bubble on Trump’s watch, and then blame all conservatives for the consequences.
To be clear, Trump is not the cause of the Everything Bubble, nor is he the cause of its current implosion. No president has the power to trigger a collapse of this magnitude, only central banks have that power. When Trump argues that the Fed is causing a downturn, he is telling the truth, but when he claims that recession fears are exaggerated, or “inappropriate”, he is lying. What he is not telling the public is that his job is to HELP the Fed in this process of controlled economic demolition.
Admissions of crisis in the media are coinciding directly with Trump’s policy actions. In other words, Trump is providing perfect cover for the central banks to crash the economy without receiving any of the blame. Trump’s insistence on taking full credit for the bubble in stock markets as well as fraudulent GDP and employment numbers, after specifically warning about all of these things during his election campaign, has now tied the economy like a noose around the necks of conservatives. The tone of warning in the media indicates to me that the banking elites are about to tighten that noose.
Read the whole piece, it’s well worth it.
Or don’t and keep consuming the propaganda corporate media is feeding you. Either way, serious economic pain is coming, and like each crisis preceding it, those who know what’s going on will use that knowledge to exploit the crisis in order to consolidate more power and control for themselves.