As fears of recession continue to grow, President Donald Trump is taking to social media to reassure the American public that there is no reason to worry.
“Walmart, a great indicator as to how the U.S. is doing, just released outstanding numbers,” the president wrote on Twitter, before accusing the “fake news media” of trying to crash the economy.
In another Twitter message, the president wrote that “the economy is way too strong and we will soon be winning big on Trade,” vowing to win the trade war he is waging on China.
In private meetings, however, Trump is not signaling confidence, on the contrary. According to a new report from The Washington Post, the president is “anxious” about the economy crashing, and is convinced that analysts, forecasters, and economists are conspiring against him, presenting biased data in order to damper his re-election chances.
“He’s rattled,” a Republican close to President Trump told the Washington Post.
“He thinks that all the people that do this economic forecasting are a bunch of establishment weenies — elites who don’t know anything about the real economy and they’re against Trump.”
Trump is reportedly holding calls with financial executives and business leaders, looking for feedback about the state of the economy.
The president is “anxious and apprehensive,” according to individuals familiar with his thinking, but confident in his administration’s economic policy and worried that the media is deliberately pushing biased stories in order to harm the stock market and influence the outcome of the 2020 presidential election.
In public, Trump has focused much of his attention to the Federal Reserve, taking aim at Jerome Powell, and suggesting that the Fed must cut interest rates in order for the economy to survive.
— The Economist (@TheEconomist) August 16, 2019
As the Washington Post notes, the U.S.-China trade war appears to be harming the American economy, but the situation is not much better abroad, with Great Britain and Germany seemingly on the brink of recession, and with the Argentinian stock market crashing. These factors, combined with the fact that the yield curve has inverted, are driving investors away, possibly setting the stage for an economic crash.
President Trump used his Thursday rally to tell supporters the country would certainly undergo another recession if he isn’t reelected in 2020: "You have no choice but to vote for me." https://t.co/s74GbcJujy
— The Hill (@thehill) August 16, 2019
White House and administration officials have continued to defend the Trump economy, but some are not convinced.
“The president doesn’t understand the basics of international economics, and his erratic behavior is likely slowing business investment, working against his signature corporate tax cuts, and hurting his own reelection chances,” economist at the right-leaning American Enterprise Institute, Michael Strain, told the Washington Post.
As The Inquisitr reported, Trump discussed the state of the economy on Thursday, pushing back against claims that he had inherited former President Barack Obama’s strong economy, and predicting that it will “go down the tubes” if a Democrat wins in 2020.