Author: Ryan Girdusky
For people who supported Trump’s policies during the campaign, it was a bloody Wednesday when the President flip-flopped on five economic and national security issues.
Trump flip-flopped on NATO, the Export-Import Bank, support of reconfirming Federal Reserve Chairwoman Janet Yellen, interest rates, and not defining China as a currency manipulator — all in just one day.
In an interview with the Wall Street Journal, Trump said that China is not manipulating their currency and he wouldn’t define them as such, flip-flopping from one of his main campaign promises. He also mentioned that he hopes to work with China on North Korea.
Given the volatility of North Korea, it would make sense how America is less critical and more open to working with China than it was a few months ago. China said they’re committed to denuclearizing the Korean Peninsula, threatening them if they stepped over the line and placing 150,000 troops on their nation’s border.
Experts on China also said that they no longer manipulate their currency the way they did back in the 1990s.
During the interview Trump also flipped on interest rates and Federal Reserve Chairwoman Janet Yellen, who he blasted back in September. During an interview with CNBC the then-Republican candidate said she was manipulating interest rates for political reasons and should be ashamed of herself.
“Well, it’s staying at zero because she’s obviously political and she’s doing what Obama wants her to do,” Trump told CNBC before saying she should be “ashamed” of what she was doing.
“And I know that’s not supposed to be the way it is. As soon as they go up, the stock market’s going down. … I believe it’s a false market because money is essentially free,” he continued. “Any increase at all will be a very, very small increase because they want to keep the market up so Obama goes out and let the new guy … raise interest rates … and watch what happens in the stock market.”
All of a sudden he favors low interest rates, even though it’s causing a bubble in the economy.
He also gave support to the Export-Import Bank, which many conservative Republicans including Trump last year correctly called “corporate welfare.”
At a press conference later that day, the President also took an about-face on NATO claiming “it’s no longer obsolete,” and that the member states are planning to increase their spending and working harder to fight terrorism. All that the President has is empty promises from NATO countries, and depending on how the upcoming elections go in nations like France and Germany could change those commitments.
The change is economic positions reeks of the more moderate tone taken by President Trump — especially from the National Economic Director Gary Cohn, the former CEO of Goldman Sachs and a registered Democrat.
Bloomberg reported back in February that Cohn and Jared Kushner were working on convincing Trump to keep the Export-Import Bank. Back in 2015, Cohn also said he was totally against the idea of raising interest rates.
Pro-ExIm sources tell me Jared Kushner is working with Gary Cohn on keeping the bank. https://t.co/0QsqFSoxug
— Kevin Cirilli (@kevcirilli) February 18, 2017
Evidence is becoming ever more clear that Kushner and Cohn are pushing Trump on economic issues and it’s not good for the “America First” movement.
In tomorrow's reversal, Trump makes Hillary president and has himself locked up. https://t.co/tEkhKnM9pK
— Alan Beattie (@alanbeattie) April 12, 2017
The post Blue Wednesday: Trump flip-flops on five major issues in one day appeared first on Red Alert Politics.