The coming Trump Great Recession...

[LV426]

The last melt down was caused by the Financial Services Modernization Act signed by Bill Clinton that removed a hell of a lot more safeguards from banking and financials than Trump could ever dream of doing. And our last President showed you cannot spend your way out of a major economic hit. Responding to "recessionary pressures" is the job of the Fed and Trump does not control that. The reason interest rates starting rising ahead of inflation is so the fed could put the ability to cut rates during a recession back into their toolbox. Lastly, people like you who lament the wealthy should celebrate the possibility that the market will tank because that is where the wealthy have most of their wealth. If you truly believed Trump was going to cause this, you should encourage him because the rich won't be richer any more.

Nope. The last Conservative recession was caused by "a dramatic weakening of underwriting standards for subprime loans, beginning in 2004 and extending through 2007."

If you think that the FSMA forced banks to weaken underwriting standards for subprime loans 3 years after Clinton left office, I'd love to see where in that bill it said banks could do that.

[cawacko]

Did you take into consideration the fact that the fed cut interest rates twice prior to the corona pandemic, why would the Fed do that, if the fed didn't anticipate economical problems ahead??????????

Which part of Fed induced bubble was difficult to understand? The market has become like a drug addict that needs its next hit to survive and that's what the Fed has done over the past decade with its easy money policies (actually much prior to that as well).

The Fed will tell you it cut rates due to a global slowdown. You can believe them or not.

[Cypress]

Goldman Sachs Predicts ‘Unprecedented’ 24% Drop In U.S. GDP Next Quarter

[Cypress]

An article from 2018 that made a prescient point


Trump's Trillion Dollar Deficits

"US will lack fiscal space to respond when next recession comes"

https://www.theguardian.com/business...ecession-comes

[Cypress]

Trump’s economy is a disaster

The Congressional Budget Office on Tuesday released its economic projections for the remainder of 2020 and for 2021. “CBO estimates that real (inflation-adjusted) gross domestic product (GDP) will contract by 11 percent in the second quarter of this year, which is equivalent to a decline of 38 percent at an annual rate. In the second quarter, the number of people employed will be almost 26 million lower than the number in the fourth quarter of 2019.”

https://www.google.com/amp/s/www.was...outputType=amp

[Earl]

Trump’s economy is a disaster

The Congressional Budget Office on Tuesday released its economic projections for the remainder of 2020 and for 2021. “CBO estimates that real (inflation-adjusted) gross domestic product (GDP) will contract by 11 percent in the second quarter of this year, which is equivalent to a decline of 38 percent at an annual rate. In the second quarter, the number of people employed will be almost 26 million lower than the number in the fourth quarter of 2019.”

https://www.google.com/amp/s/www.was...outputType=amp

Horse mierda.

The job losses are the direct result of the virus from China that China failed to contain.

The economy will boom again with President Trump, as it did before the China virus.

The economies all over the world have been damaged.

Is the president responsible for them too?

Horse mierda, Snowflake.

[Earl]

There will be no recession.

Federal Reserve Chairman Powell:

"The Fed chairman waved away comparisons with the Great Depression of the 1930s. “It should be a much shorter downturn than we would associate with the 1930s,” he said. The Great Depression lasted for 10 years."https://www.marketwatch.com/story/feds-powell-tells-60-minutes-hes-not-out-of-ammunition-to-fight-the-recession-2020-05-17
"

I would believe Chairman Powell ahead of some far left, Trump hating loon like Cypress who is hoping for a depression.

[Cypress]

Horse mierda.

The job losses are the direct result of the virus from China that China failed to contain.

The economy will boom again with President Trump, as it did before the China virus.

The economies all over the world have been damaged.

Is the president responsible for them too?

Horse mierda, Snowflake.

My writing must be extremely interesting to you, Legion.

Have I ever actually written anything you have failed to track down and read?

[Nordberg]

There will be no recession.

Federal Reserve Chairman Powell:

"The Fed chairman waved away comparisons with the Great Depression of the 1930s. “It should be a much shorter downturn than we would associate with the 1930s,” he said. The Great Depression lasted for 10 years."https://www.marketwatch.com/story/feds-powell-tells-60-minutes-hes-not-out-of-ammunition-to-fight-the-recession-2020-05-17
"

I would believe Chairman Powell ahead of some far left, Trump hating loon like Cypress who is hoping for a depression.

his job is defending a crazy president and trying to calm the people. What else will he say" grab your socks, the water is rising and we will be staving like Bangladeshis in a few months" You have to filter Trump's lying admin through a fact filter.