Increasingly, the leading economic indicators portend a coming recession, as always happens when Republicans inherit prosperous economies from Democrats and then run them into the ground.
Last week, the inverted yield curve surfaced for the first time since 2007. The inverted yield curve (when short term bond yield rates rise higher than long term bond yield rates) is one of the strongest indicators of a coming recession.
On the Sunday morning talk shows:
Trump economic advisor Peter Navarro, former economics professor at University of California, Irvine, insisted that the inverted yield curve is not that significant, and bragged that he should know, because he has “written books on the bond yield curves.” The moderators did not challenge him. But on Monday night’s “Last Word with Lawrence O’Donnell,” O’Donnell was joined by several economics experts. Unlike the moderators who let Navarro off the hook, they referred to economist Navarro’s books. In them, contrary to what he implied on the talk shows, he does emphasize that an inverted yield curve is one of the most reliable predictors of a recession. So yeah, we can trust economist Navarro, but only in what he said BEFORE HE SOLD OUT to the Trump elitists.
Trump economic advisor Larry Kudlow promised that, regardless of how bad it looks, he guaranteed there would be no downturn. The moderators showed him his own video clips from the economic talk show he was hosting on Faux “News” at the time, when he said exactly the same thing just before the Bush economic market meltdown in 2008 (in contrast, there is video of a PBS with Elizabeth Warren, who predicted accurately the exact economic meltdown). Kudlow has never gotten one economic prediction right and has zero credibility.
I’ve been learning about the Green New Deal. It has been derided for its job program components, but that jobs program is a superlative “stimulus” program, with a critical difference from previous stimulus programs; it directs money to the “99%”. The 2008/2009 stimulus did a good job of saving rich bankers, but not so much for regular people.
Maybe if we started directing money to actual people, who will spend it while making worthwhile contributions, instead of corporations, which use it to buy back stock and gobble up smaller companies, the economy will actually benefit.
Here’s one thing you can rock-solid count on 100% of the time: Whatever happens to the economy, a couple of years from now there’ll be somebody who predicted it and is now looking for suckers to give him money based on his insight and acumen. That’s because these guys are like fortune tellers and mind readers; they make a zillion predictions but only remind you of the ones that happened to come true.
Perhaps they mean the theives will profit greatly from the recession 1/2 of too much is still more than half of a middle class wealth and earnings( worse if teachers are consider middle class and Drs & lawyers aren’t included)
Good news! “I don’t think we’re having a recession,” Trump told reporters on Sunday in an attempt to quell fears over a potential market crash. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”
I just verified my bank balance, and I’m not “loaded up with money.” I got no “tremendous tax cut” being one of the lower 90%. So I guess my “check is in the mail.”
It’s the Republican miracle: Nixon scuttling peace before an election; Reagan arms for hostages; Bush his invasion (I mean he had the perfectly neat military so handy and nearby) of Iraq. And clear the swamp Trump … tea pot dome served up on the newest WH China service.
I love that his brief case is labeled “Econo Mists”. A clear reminder that they see the future through a cloud, just like the rest of us… though they do have records of which of their techniques have worked in the past. Which they ignore when they have a political agenda…
Sadly the way this administration can snatch total catastrophy from the jaws of defeat, (think Puerto Rico, easy to win Tariff Wars) Trumps reactions to a recession will probably be to up the ante and make it a full blown Great Depression.
At least Putin will be happy with his hand puppet’s damage to America. May regret when it impacts Russia as well.
However, talking about a recession does increase one’s likelihood. I suggest we all close our eyes and repeat: “The Economy is Great, and Will Never Falter. Look at Australia, they haven’t had a recession in a couple decades, I’m sure we can be like that too! The Economy is Great!”
It is mostly ECONOMISTS and a few financial wizards who are warning about a possible recession, unless some changes are made, but some of the political cartoonists on this site take their cue from Trump to draw wild, crazy donkeys crying “RECESSION! RECESSION” !
Funny thing is all of the “products” from Donald and Ivanka are made in China and she is getting trademarks from China by the dozen.
Trump is now saying there might be a “short” recession – about 2 months.
“I am doing this whether it’s good or bad for your statement about, ‘Oh, will we fall into a recession for two months?’ The fact is, somebody had to take China on.” As far as I could tell, no one claimed “2 months” at the press conference except Trump.
“Whether it’s good for our country or bad for our country, short term, it had to be done,whether it’s good or bad, short term, is irrelevant.”
Now which direction is the silly “payroll tax” claim going? Like getting a few dollars in a paycheck is going to prevent a recession. Not to mention that people will just owe those taxes on April 15th.
DD Wiz Premium Member over 4 years ago
Increasingly, the leading economic indicators portend a coming recession, as always happens when Republicans inherit prosperous economies from Democrats and then run them into the ground.
Last week, the inverted yield curve surfaced for the first time since 2007. The inverted yield curve (when short term bond yield rates rise higher than long term bond yield rates) is one of the strongest indicators of a coming recession.
On the Sunday morning talk shows:
Trump economic advisor Peter Navarro, former economics professor at University of California, Irvine, insisted that the inverted yield curve is not that significant, and bragged that he should know, because he has “written books on the bond yield curves.” The moderators did not challenge him. But on Monday night’s “Last Word with Lawrence O’Donnell,” O’Donnell was joined by several economics experts. Unlike the moderators who let Navarro off the hook, they referred to economist Navarro’s books. In them, contrary to what he implied on the talk shows, he does emphasize that an inverted yield curve is one of the most reliable predictors of a recession. So yeah, we can trust economist Navarro, but only in what he said BEFORE HE SOLD OUT to the Trump elitists.
Trump economic advisor Larry Kudlow promised that, regardless of how bad it looks, he guaranteed there would be no downturn. The moderators showed him his own video clips from the economic talk show he was hosting on Faux “News” at the time, when he said exactly the same thing just before the Bush economic market meltdown in 2008 (in contrast, there is video of a PBS with Elizabeth Warren, who predicted accurately the exact economic meltdown). Kudlow has never gotten one economic prediction right and has zero credibility.
Dtroutma over 4 years ago
A lot more like Daffy Duck than Wile e, but bonespurs can’t fly.
wolfiiig over 4 years ago
Why listen to economists when the sage advice of an old multiple bankrupt is to be had?
comixbomix over 4 years ago
He must know how everything works…Otherwise, how could he manage to do the opposite so consistently?
Masterskrain Premium Member over 4 years ago
Talk about Looney…
Kilrwat Premium Member over 4 years ago
Only Trump “economists” would follow him off the ledge.
Cerabooge over 4 years ago
I’ve been learning about the Green New Deal. It has been derided for its job program components, but that jobs program is a superlative “stimulus” program, with a critical difference from previous stimulus programs; it directs money to the “99%”. The 2008/2009 stimulus did a good job of saving rich bankers, but not so much for regular people.
Maybe if we started directing money to actual people, who will spend it while making worthwhile contributions, instead of corporations, which use it to buy back stock and gobble up smaller companies, the economy will actually benefit.
Cerabooge over 4 years ago
E-cons-o-the-mists.
morningglory73 Premium Member over 4 years ago
WATCH OUT BELOW! Here come the grand piano.
Richard S Russell Premium Member over 4 years ago
Here’s one thing you can rock-solid count on 100% of the time: Whatever happens to the economy, a couple of years from now there’ll be somebody who predicted it and is now looking for suckers to give him money based on his insight and acumen. That’s because these guys are like fortune tellers and mind readers; they make a zillion predictions but only remind you of the ones that happened to come true.
Alberta Oil Premium Member over 4 years ago
trump denies everything so why would gravity be any different?
Bendarling1 over 4 years ago
Perhaps they mean the theives will profit greatly from the recession 1/2 of too much is still more than half of a middle class wealth and earnings( worse if teachers are consider middle class and Drs & lawyers aren’t included)
Radish the wordsmith over 4 years ago
Dear Glorious Leader Trump:
As one of the crowned princes of #Greenland, I am excited by your offer to buy our country. Please wire $125,000,000 to PrinceofGreenland@Paypal.com
Bookworm over 4 years ago
Good news! “I don’t think we’re having a recession,” Trump told reporters on Sunday in an attempt to quell fears over a potential market crash. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”
I just verified my bank balance, and I’m not “loaded up with money.” I got no “tremendous tax cut” being one of the lower 90%. So I guess my “check is in the mail.”
https://www.rollingstone.com/politics/politics-news/trump-recession-denial-panic-conspiracy-873239/
yimhere over 4 years ago
“I’ll tell ya this…… I’m bungling this bigly …. but don’t mention it to anyone else….!”
todyoung over 4 years ago
ECONOMIC GRAVITY!! There. I said it. Look out below!
robnvon Premium Member over 4 years ago
It’s the Republican miracle: Nixon scuttling peace before an election; Reagan arms for hostages; Bush his invasion (I mean he had the perfectly neat military so handy and nearby) of Iraq. And clear the swamp Trump … tea pot dome served up on the newest WH China service.
Concretionist over 4 years ago
I love that his brief case is labeled “Econo Mists”. A clear reminder that they see the future through a cloud, just like the rest of us… though they do have records of which of their techniques have worked in the past. Which they ignore when they have a political agenda…
kballweg Premium Member over 4 years ago
Sadly the way this administration can snatch total catastrophy from the jaws of defeat, (think Puerto Rico, easy to win Tariff Wars) Trumps reactions to a recession will probably be to up the ante and make it a full blown Great Depression.
At least Putin will be happy with his hand puppet’s damage to America. May regret when it impacts Russia as well.
danketaz Premium Member over 4 years ago
Trump’s too full of hot air to fall, even with no visible support.
Charlie Tuba over 4 years ago
Yes, I know how cartoons work. You walk out on thin air, look down, run like crazy, and then plummet straight down followed by an ACME anvil.
bakana over 4 years ago
If only the show “Preacher” hadn’t already done the guy with the “puckered” Mouth.
benjamineyal over 4 years ago
However, talking about a recession does increase one’s likelihood. I suggest we all close our eyes and repeat: “The Economy is Great, and Will Never Falter. Look at Australia, they haven’t had a recession in a couple decades, I’m sure we can be like that too! The Economy is Great!”
theoldidahofox over 4 years ago
Trump has zero everything.
moosemin over 4 years ago
It is mostly ECONOMISTS and a few financial wizards who are warning about a possible recession, unless some changes are made, but some of the political cartoonists on this site take their cue from Trump to draw wild, crazy donkeys crying “RECESSION! RECESSION” !
moosemin over 4 years ago
Alan Greenspan: We haven’t heard from you in a while. Let’s keep it that way, please!
Nantucket Premium Member over 4 years ago
Funny thing is all of the “products” from Donald and Ivanka are made in China and she is getting trademarks from China by the dozen.
Trump is now saying there might be a “short” recession – about 2 months.
“I am doing this whether it’s good or bad for your statement about, ‘Oh, will we fall into a recession for two months?’ The fact is, somebody had to take China on.” As far as I could tell, no one claimed “2 months” at the press conference except Trump.
“Whether it’s good for our country or bad for our country, short term, it had to be done,whether it’s good or bad, short term, is irrelevant.”
Now which direction is the silly “payroll tax” claim going? Like getting a few dollars in a paycheck is going to prevent a recession. Not to mention that people will just owe those taxes on April 15th.