One thing I have learned over the years is that the stock market has no master. Anyone who says or thinks they are smart enough to control it and predict its fickle ways is asking for trouble.
President Donald Trump seems almost insecure about the possibility that the apparently strong economy could dive into a recession, influencing his chances for a second term in office. Never mind how a recession could damage the everyday lives of many Americans.
But his constant haranguing of the Federal Reserve could easily have unintended, negative consequences. For instance, if Trump gets his way and the Fed suddenly does seem to cave and drop the interest rate, the collective beast that is the market may well conclude the Fed is no longer acting independently but rather at the direction of the president and his politics. Then who knows what will happen?
Trump may well wish he had been more careful with what he wished for — or in his case, demanded — with his insulting, blustering tweets.
John Spoolman, Plymouth
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Let me get this straight. China pays the tariffs, not U.S. consumers. But Trump is going to delay the tariffs on electronic equipment and toys until December to protect consumers against higher prices during the holiday gift-buying season ("Trade war will start to hit harder in U.S.," Aug. 21). The economy is going great, but we may need to stimulate the economy in other ways.
Did they teach economics when Trump went to Wharton?
Judy Matysik, Minneapolis
POLYMET MINE
As a miner, I know this won't work
The Star Tribune's Aug. 19 opinion page had an interesting juxtaposition: a counterpoint by Nancy McCready promoting PolyMet ("Transparency, PolyMet foes demand. If only they'd noticed 14 years of it") next to a separate feature, L.K. Hanson's weekly "You Don't Say" cartoon, quoting Richard Hofstadter, author of the essay "The Paranoid Style in American Politics." Hofstadter would have instantly recognized the mining promotion culture in Minnesota.
Mining fans in Minnesota have themselves convinced that radical environmentalists and metro legislators are diabolically limiting their access to economic prosperity. I believe they exhibit symptoms of paranoia.