Wall Street is getting seriously gloomy about the economy, with recession warnings mounting and stocks tumbling just as President Donald Trump prepares to fire up his reelection campaign machine.
“And now we have the risk of the trade war turning into a currency war,” she said. “The consumer is still pretty strong, but business investment looks really bad and if it was going to pick up again it would have by now.”Sign Up Economists, however, note that interest rates adjusted for inflation remain very low by historic standards. And few businesses report having any trouble getting credit. The central bank last month reversed course and cut rates by a quarter point, citing uncertainty from the trade war. Wall Street analysts expect at least one more rate cut this year and possibly two or three.
poster="http://v.politico.com/images/1155968404/201908/3221/1155968404_6066911064001_6066913279001-vs.jpg?pubId=1155968404"Bank of America analysts led by Michelle Meyer in a note out on Friday increased their warning of a recession by 2020. An already sour mood on Wall Street got worse last week after China allowed its currency to weaken to more than 7 yuan to the dollar in the face of Trump’s latest tariff threat. That led Treasury Secretary Steven Mnuchin, at Trump’s urging, to label China a currency manipulator for the first time in a quarter century.
Recessions have happened before when there was no Trump in the Whitehouse and there were no tariffs, therefore look for someone/something else to blame instead of the president and/or his policies.
You don’t have to be a big swinging 🍆at Goldman to have seen this coming. One word describes this administration’s policy choices: incoherent. It will be a miracle if we survive him without a 2008-type crisis. Thanks Mnuchin and WilburRoss 🍆🍆🍆heads.
Oh really? Are you guys stupid or something? Seriously! A recession is coming... mark my words.
Wall Street sees a global slow down regardless. And profit taking this is not news and not a direct correlation to China.
Trump’s trade war (tariff tax) combined with his tax scam/budget deal has resulted in trillion dollar deficits, debt exceeding 100% of GDP, revenue down, and a looming 2020 recession. Thanks Dotard.
Trump just punked out. He claimed his tariffs did not hurt American consumers. Another lie uncovered.
China brought The Moron to his knees.
Duh
Meanwhile get ready because it's just about here
It sure is and what are they going to do about it? Trump is stupid and dumb nor does he care about people whether they live or die. All he is concerned about is money.
Well, then they should get ready to open their bank accounts and bail out the people this time.
The last recession we had was brought on largely by the media constantly saying we were headed for a recession. People got worried and things slowed down. The media has no regard for truth; they just want people to keep clicking on headlines! Don't trust the self serving media!
We have a business man in the WH who.....ah, never mind. Better save up for a rainy day, folks. The storm is coming.
Coz we all know how honest and trust worthy banks are. .....Said noone ever.
Brasilmagic Guess, those big corporate and wealthy tax breaks didn't stimulate like the GOP & Trump said they would. They have grown the debt though, GREATLY !!!!!!!! Gee, who could have seen that ? LOL.
Brasilmagic Dude never blames himself or his actions- he'd blame Obama if he could , but that won't fly. He'd blame the Dems, but then of course any improvements would be there's too, LOL. I thought big shot was in charge of his administration ?
Can't tell him or his Republican cronies that! It has to hurt to be good! Great strategy!
If politico ever reported real news, hell would freeze over,
Not surprised. Lets you a rich businessman Take care of US business So you have to be aware that he is playing in the market without the politician's mind.
Here's hoping the worst is over, for now at least!
POUNCEonIT JoeBiden cc DrBiden
I wonder if people think about the trickle down effect.
I'm sure the recession will be called fake news by the economically illiterate lemmings that follow him. Of course most of them can't spell economics so they'll have to ask a friend to help them.
Trying this tired headline again eh? It's still a necessary trade war, regardless of how liberals try to spin it.
Very fakenews!
SethAbramson When the recession hits he'll blame it on Obama.
Brasilmagic Trump is manipulating the markets up and down for his investing friends. Tariffs! = buy low No Tarriffs = sell high
Brasilmagic Remember Trump was honest some months back when he said any bad effects of his policies he'd just blame on someone else. It's the pushback RoyCohn lying style Trump now does reflexively.
SethAbramson Yup, when the spending spree is over, and the reality hits home that there is a cost involved, fat nixon is on the blame-game train again. If numbers go up because of Obama, he will quickly take credit, but when his ass gets handed to him due to low numbers, it is *their* fault.
SethAbramson Taking credit for positive economic news and blaming everyone else for negative economic news. Typical for our presidunce. .
SethAbramson IQ45 is incompetent in everything, especially the economy.
SethAbramson Well, let's see if his followers will swallow this lie to.
SethAbramson Almost like Dow-Jones doesn't really measure economic health... Who'da thunk it!!
The Buck Stops Anywhere But Here
SethAbramson realDonaldTrump is MAGDA = Making America Great Depression Again
Come on America. If we aren't protesting like Hong Kong soon to get this horrid man out of office, we are only going to get more of whatever we tolerate. Enough is ENOUGH! Even Putin must be shocked at what he has gotten away with.
SethAbramson If economy turns, Trump is truly screwed.
SethAbramson He's got to blame somebody.
SethAbramson Idiot
SethAbramson Did anyone seriously think he would ever take credit for any problems, in stock markets or otherwise?
SethAbramson Remember how he spent five+ straight years claiming the jobs numbers were completely bogus, fake, and rigged by Obama.... and then got elected and (before even taking FUCKING office) had begun to say they were actually real, and that he was entirely responsible for them?
SethAbramson
SethAbramson Always blame someone else.
The markets surged today because of that trade war.
We could've predicted this the moment they began. In fact, we created a video about how he'd kill farms. Check it out. Share if you like it:
Pretty much standard for a country that elects (USA or Russia, your pick) a lying, corrupt, conman.
realDonaldTrump POTUS hope you’re enjoying your vacation
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