Goss, bankers wary of tariffs, see grim future under Trump

Back in 2018 Republicans like Senator John Thune (Earth hater-SD) were calling Trump tariffs a "Band-Aid" and a "false sense of security" especially for farm states. 

Today, Creighton University's Ernie Goss and ag groups like the National Corn Growers Association are sounding the alarm again about the Trump tariffs because of economic uncertainty and the potential for retaliation.

“Recession would be probably too strong of a word, but certainly it’s going to be slow going for the year in my judgement, and it’ll be a little bit slower than in 2024," Goss said. [Bill Janklow's idea of public radio]

Goss and the Business Conditions Index track the economies of nine midwestern states where supply managers remain pessimistic with some 41% signaling a recession and a significant drop off in the near future.

Looking ahead six months, economic optimism, as captured by the December Business Confidence Index, sank to 52.8 from 55.6 in November. A weak regional economy slowed purchases from abroad as the import reading slumped to 42.1 from November’s 49.1. [Mid-American Economy]

A cynical observer might suspect bankers provided gloomy outlooks to the Index for at least five months especially in midwestern swing states to sink Democratic Party prospects just as Republicans in congress stalled immigration reform because it makes sense to Earth haters that after he was elected again the Orange Julius would run America into the dirt so banks can foreclose on the whole dealio to massage auction price points.

And don't forget, as the rhetoric from the White House increases and the push to act on taxes, trade, and immigration pressures the Republican Congress to act, there's still a Farm Bill to write, regional conflicts to influence, and a federal debt limit to raise. [CoBank: 2025 rural economy will be 'squeezed, hobbled, slowed']

In Iowa where the Republican governor is among the most hated in the US cancer rates are off the charts and the list of impaired waterways increased again.

Thune is pessimistic that the incoming administration has the political capital to end the gains under Bidenomics. Read that here.

Jacking up the bill to We, the People are the usual suspects including the US Chamber of Commerce, Bayer, American Crystal Sugar, the American Farm Bureau Federation and the Koch cabal. https://t.co/kcwg5d8cSr #wotus https://t.co/ruUJ84Wig0

— interested party (@larry_kurtz) May 22, 2024