Someone on the transition staff needs to take away Trump’s phone because he is on the verge of doing some real lasting damage to the economy as well as the safety of the United States. One day last week, he launched a Twitter rant about the U.S trade deal with China and China building a controversial base in the South China Sea:
Did China ask us if it was OK to devalue their currency (making it hard for our companies to compete), heavily tax our products going into..
their country (the U.S. doesn’t tax them) or to build a massive military complex in the middle of the South China Sea? I don’t think so!
The biggest foreign holder of U.S. government debt had $1.22 trillion in bonds, notes and bills in July, down $22 billion from the prior month, in the biggest drop since 2013, according to U.S. Treasury Department data released Friday in Washington and previous figures compiled by Bloomberg. The portfolio of Japan, the largest holder after China, rose $6.9 billion to $1.15 trillion. Saudi Arabia’s holdings of Treasuries declined for a sixth straight month, to $96.5 billion.
CHINA COULD WRECK HAVOC
What does China could wreck havoc mean – China could wreck havoc if they called in all our debt. Russia is a key trading partner with China. Who will the Russians stand with? And bashing on China’s controversial South China Sea bases? On Twitter? Donald Trump is putting us in very dangerous water with his Twitter account…..and he has not even taken the oath of office yet. He might do more than just wreck the U.S. economy. He could drag us into a full-scale military confrontation.
Former President Obama advisor Dan Pfeiffer put it best:
To call this is a diplomatic strategy would be like calling a monkey throwing its feces against the wall artistic expression
We are so screwed.