Trump’s recession risk rises

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Wall Street hoisted another warning on the economy as fear continues to rise that recession could arrive by next year — potentially crashing into Donald Trump’s attempt to win a second term

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NEW YORK — Wall Street hoisted another hurricane warning on the economy on Wednesday as fear continues to rise that a recession could arrive by next year, potentially crashing into President Donald Trump’s attempt to win a second term.

“You have a little bit of panic going on here about the state of the economy and the bond market is reflecting that,” said Richard Bernstein, founder of investment firm RBAdvisors. “The bond market is telling you that growth is slowing and the economy may be a lot sicker than people believe.” Trump on Tuesday delayed most of the tariffs until Dec. 15, saying he didn’t want to risk higher prices during the Christmas shopping season. This appeared to undermine his argument that the Chinese are paying for all of the tariffs rather than American businesses and consumers.

But the biggest drag cited by economists is uncertainty over trade, which is showing up in lower spending by businesses. The loss of the Chinese market is also hammering farmers. “On the economics dashboard of doom, we have another flashing warning light,” economists at ING wrote in a note on Wednesday. “Overnight we have seen the inversion of the 2-10 year part of the Treasury yield curve, the first time this has happened since 2007 when the global financial crisis started to bite.”

Some economists also argue that the inverted yield curve may not mean recession is coming this time. “This time is different” advocates argue that lower long-term bond yields in the U.S. — which usually signal that investors believe domestic economic conditions are going to get worse — are actually part of a global phenomenon. They note that yields are down around the world as central banks move to cut interest rates to try to stimulate growth. This may not suggest that the U.S.

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Whew not a moment to soon....

He created troubled waters

Duh! Stupid BankruptDon RacistInChief

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