Listen: Donald Donald Trump, China And Federal Reserve discussed on All In with Chris Hayes
"Donald spent five hundred eighty three thousand dollars on personal expenses as for today's events. Donald donald trump says he made a great deal fantastic deal that has empires intact and he's running it but the bankers have another story. One of them told me in our view he's in bankruptcy but instead of the court's presiding over a restructuring. We are doing it so this afternoon is the stock market was tumbling president trump. It was definitely not panicking as the market was moving lower and lower trump unleashed to tweets where he managed to brag about his trade war with china lie about the economy blamed the fed and its chairman and demonstrate a clear lack of understanding about how global economies work quote. We are winning big time against china companies and jobs are fleeing prices to us have not gone up and in some cases of comedown china's not our problem though hong kong is not helping our problem is with the fed raised too much much too fast now slow to cut spread is way too much as other countries say thank you to clueless jay powell and the federal reserve germany and many others are playing the game crazy inverted yield curve. We should easily be reaping big rewards and gains but the fed is holding us back. We will win. I'm not gonna read that again. You'll have to go to the tweet actually see that because it is a lot but to be fair recessions happen. The united states is actually overdue for one but given the indicators that our recession could be around the corner. Why would the president continue to exacerbate the situation. His signature legislative achievement was huge tax cuts for corporations and the wealthy tax cuts that a study by the congressional research service found had little to no impact on the economy he continues to escalate his trade war with china even after admitting hitting that his tariffs harm american consumers political reported before today's big stock market drop that instead of blaming the fed wall street economists are citing trump himself as the biggest anchor on markets and the economy a recession is the last thing donald trump wants as he is up for re election next year in fact the the last time the u._s. was in the middle of a significant economic downturn back in two thousand eight. When president george w bush was in office that recession worked against the republican presidential candidate senator john mccain joining me now is someone who is right in the middle of that campaign mark zandi chief economic adviser for john mccain's two thousand eight eight presidential campaign. He's the chief. Economist of moody's analytics also joined by jennifer rubin washington post columnist and m._s._n._b._c. contributor and john harwood editor at large for c._n._b._c. and host of the digital series speakeasy"