As his impeachment trial gets underway, Trump delivered a speech at the 50th World Economic Forum in Davos, Switzerland. The four-day summit includes some of the world’s top political and business leaders who will discuss the dangers of climate change to both the environment and economy.
Of course, Denier Don dismissed its threats and instead, “lambasted ‘prophets of doom’ — an apparent reference to climate activists like Greta Thunberg, with whom he will share top billing with.”
“We must reject the perennial prophets of doom and their predictions of the apocalypse. They are the heirs of yesterday’s foolish fortune tellers.”-DJT
Trump tried to avoid the topic of impeachment but did make sure to get in a few “hoax” and a “witch hunt” labels.
“Even now as the United States is by far the strongest economic power in the world, it’s not even close. … We’re forced to compete with nations that are getting negative rates, something very new. Meaning, they get paid to borrow money, something I could get used to very quickly. Love that.”-DJT
Several central banks have adopted negative interest-rate policies over the past year in hopes of jolting their economies. Most notably, the European Central Bank and the Bank of Japan implemented this policy amid stubbornly low inflation.
This has led to sovereign yields in Japan and Germany to trade below zero. By comparison, U.S. Treasury yields and the Federal Reserve’s overnight rate are high, which Trump contends puts the U.S. at a disadvantage relative to the rest of the world. The 10-year Treasury yield hovered above 1.8% on Tuesday.
The only time Trump received any applause during his speech was when he said he would join the one trillion trees initiative. He added something about ‘forest management’ but didn’t mention anything about raking them.