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“It’s not only that he will never get better, but it is certain that he will get worse. There has never been a case of a malignant narcissist in power whose pathology improved, or even remained stable: They always deteriorate, and often rapidly, as they become drunk on (what they see as) now unlimited power and adulation.”
— Elizabeth Mika, writing the week after President Trump’s inauguration in 2017.
“They are willing to lose their wealth, or a big part of it, just for the possibility of winning the Election. But it won’t work because I always find a way to win, especially for the people!”
— President Trump, tweeting that “the Democrat Party” and “the Fake News Media” are saying a recession is on the way in an effort to hurt his reelection chances next year.
$75 billion
“China announced that it will impose additional tariffs on a total of $75 billion of U.S. goods in retaliation for President Trump’s latest planned levies on Chinese imports,” Bloomberg reports. “Some of the countermeasures will take effect starting Sept. 1, while the rest will come into effect from Dec. 15, according to the announcement from the Ministry of Commerce. This mirrors the timetable the U.S. has laid out for 10% tariffs on nearly $300 billion of Chinese shipments.”
“There are lots of reasons to worry about how President Trump would handle a recession, should we tip into one. There’s his incompetent economic team. Or the limited fiscal policy tools at his disposal, given that Republicans already spent nearly $2 trillion on tax cuts. Or his efforts to discredit the Federal Reserve just when we’ll need it most. … One underrated concern: Trump’s tendency to double down on stupid and destructive ideas, despite — perhaps because of? — overwhelming evidence of their stupidity and destructiveness.”
