From the very moment that Donald Trump won the 2016 election, the media has been chattering incessantly about a major recession that is supposedly just around the corner. As the country awoke to the news of his victory as president, the stock market rocketed upwards, yet liberal economist Paul Krugman inexplicably prophesied in the New York Times that we were probably facing a “global recession” with no end in sight. Less than a week later, he wrote about an impending “Trump slump.”
Krugman was not alone. Matt Krantz of USA Today thought a recession was on the way because Trump is a Republican president, and that was before Trump even took office. After his inauguration, despite strong growth and impressive job creation, the media continued its pessimistic tune. Quin Hillyer was certain last year that recession was on the horizon because of the strategic tariffs of the administration. “Get ready for rough times,” he wrote, predicting the crash would come by fall and advising people to “buy gold, hoard cash, and stock up on good canned foods.”
Even when the end of the year came and still no recession had arrived, economist Evan Kraft absurdly accused Trump of readying a “scapegoat” for his eventual failure. During this whole time period, economic growth across the nation has been strong. Unemployment is at historic lows, and wages are growing at the fastest rate in over a decade. By virtually any conceivable measure of progress in the economy and labor market, the Trump presidency has been a resounding success from the beginning.
But here we are again. It has been the inverted yield curve on Treasury bonds that has journalists absolutely convinced that we are soon headed off the economic cliff. The poorly concealed glee that the press corps is expressing
(Excerpt) Read more at thehill.com ...
Krugman won a Nobel Prize in economics didn’t he?....Same year the Surrender Monkey won the Nobel Peace Prize....and just as effective!
Krugman was not alone. Matt Krantz of USA Today thought a recession was on the way because Trump is a Republican president, and that was before Trump even took office. After his inauguration, despite strong growth and impressive job creation, the media continued its pessimistic tune. Quin Hillyer was certain last year that recession was on the horizon because of the strategic tariffs of the administration. “Get ready for rough times,” he wrote, predicting the crash would come by fall and advising people to “buy gold, hoard cash, and stock up on good canned foods.”
Even when the end of the year came and still no recession had arrived, economist Evan Kraft absurdly accused Trump of readying a “scapegoat” for his eventual failure. During this whole time period, economic growth across the nation has been strong. Unemployment is at historic lows, and wages are growing at the fastest rate in over a decade. By virtually any conceivable measure of progress in the economy and labor market, the Trump presidency has been a resounding success from the beginning.
But here we are again. It has been the inverted yield curve on Treasury bonds that has journalists absolutely convinced that we are soon headed off the economic cliff. The poorly concealed glee that the press corps is expressing
(Excerpt) Read more at thehill.com ...
Krugman won a Nobel Prize in economics didn’t he?....Same year the Surrender Monkey won the Nobel Peace Prize....and just as effective!
