Members of Congress returned to work yesterday — work being a relative word — and were immediately broadsided by some bad economic news.
General Motors announced that it will cut approximately 14,000 workers and close 5 plants (3 in North America) in preparation for an economic downturn obvious to everyone not named Donald Trump.
With a technological a shift to self-driving and electric vehicles, General Motors is slashing 14,700 jobs in North America and may shutter 5 plants. @AP @tkrisher @rgilliescanada report. https://t.co/jE6V8BqpfC
— AP Business News (@APBusiness) November 26, 2018
These decision by GM is likely to be repeated by Ford Motor Company in the very near future, and together it proves conclusively that the warnings about how Trump’s trade war would destroy the economy are coming true.
The US auto industry was one of the first to warn against imposing tariffs due to the inevitable harm it would do to sales and the lost jobs that would result. And just a few months ago that Ford Motor renewed their appeal to the White House to create policies designed to stabilize the market after US steel costs reached the highest levels in the world.
Unfortunately, the economically illiterate “King of Debt” refuses to accept this reality. Already blaming the new Democrat majority for his failed policies, Trump is doubling down and essentially threatening GM with extortion using threats that would make Vito Corleone proud.
— CBS News (@CBSNews) November 26, 2018
Trump told reporters at the White House that he has instructed GM Chairman and CEO Mary Barra to cancel plans to shutter the Lordstown, Ohio, plant and that GM “better get back in (Ohio) soon.” He stated his conversation with Barra “was very tough” and that he would put “a lot of pressure” on her to comply with his wishes.
As he headed off for still more campaigning, Trump indicated that he felt his Godfather tactics would work by saying, “I think you’re going to see something else (built) there, but I’m not happy about it. I have no doubt that in a not too distant future they’ll put something else, they better put something else in.”
For good measure, in an interview with The Wall Street Journal about the GM announcement, Trump said, “I love Ohio. I told (GM) ‘You’re playing around with the wrong person.’”
David Stockman, the former director at the Office of Management and Budget under Ronald Reagan, recently appeared on FOX Business to warn the sycophants at Trump Pravda that the “Trump economy” is unstable due to the trade war and out-of-touch fiscal policies of “a madman in the White House.”
Considering yesterday’s announcement and Trump’s Godfather response, maybe it’s time to consider the words of Mr. Stockman and prepare accordingly.
Originally posted on StridentConservative.com.
David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.
Follow the Strident Conservative on Twitter and Facebook.
Subscribe to receive podcasts of radio commentaries: iTunes | Stitcher | Tune In | RSS