The Worst

Written by SK Ashby

(Cartoonist - Stuart Carlson)

In other news, Federal Reserve Chairman Jerome Powell says "uncertainties" in the market -- from Trump's trade war to the debt ceiling and even the Brexit -- has made an interest rate cut almost certain.

Meanwhile, Planned Parenthood says it will give up federal money if they have to rather than comply with the Trump regime's so-called "gag order" that prohibits providers from referring women to abortion services.

Finally, China's ruling party is not impressed by or pleased with Trump's attempt to take credit for China's slowing economy.

Chinese Foreign Ministry spokesman Geng Shuang said China’s first-half pace was a “not bad performance” considering global economic uncertainty and slowing world growth, and in line with outside expectations.

China’s stable growth was good for the world and also the U.S. economy, Geng told a daily news briefing.

“As for United States’ so-called ‘because China’s economy is slowing so China urgently hopes to reach an agreement with the U.S. side’, this is totally misleading,” he added. [...]

Hu Xijin, editor of the widely-read Chinese tabloid Global Times, published by the ruling Communist Party’s official People’s Daily, responded on Twitter to Trump’s comment, asking if it was “noble for a president to gloat”.

“6.2% is much higher than U.S. growth. Wait until U.S. growth hits 6.2% then laugh at China,” Hu tweeted. “Chinese economic growth slows down because of restructuring. The credit doesn’t go to the White House.”

The People’s Daily said it was “laughable” to say the Chinese economy was being given trouble by the U.S. tariffs.

I'm sure Trump's tariffs actually are weighing down the Chinese economy at least a little bit but, more importantly, Trump's boasts place a trade deal even further out of reach as this becomes more about principle and dignity than economics.