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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHuffPo - The Next Recession Is Really Gonna Suck
Interesting story about how Trump's chickens will come to roost when the next recession hits. Of course, Trump will either deny that there is a recession, say only losers, minorities and immigrants are actually unemployed, not real Americans, or just blame President Obama and Hillary Clinton.
https://www.huffingtonpost.com/entry/the-next-recession-suck-unemployment-benefits-republican_us_5a7e0362e4b08dfc93040b5e?utm_medium=email&utm_campaign=__TheMorningEmail__021218&utm_content=__TheMorningEmail__021218+CID_a3ada86da1e554d914e35d4f855ae0e9&utm_source=Email%20marketing%20software&utm_term=HuffPost&ncid=newsltushpmgnews__TheMorningEmail__021218
Then theres the Trump factor. When the mass layoffs return and the unemployment rate rises the newly jobless will discover that not only have they lost their livelihoods, but they have also become fake news.
The president of the United States will deny that the bad jobs numbers are real. Just as candidate Trump insisted the official unemployment rate was 10 times higher than the Obama administration said, President Trump wont hesitate to cast doubt on his own governments rate when it starts rising.
Who cares? Well, the tens of millions of Americans who will churn through the unemployment system are going to care. One of the worst things about being unemployed, aside from the fact that you have no money, is that you lose a routine that essentially connects you to society through daily interactions with other people. And since American culture closely links your value as a human to your career, it can be difficult to maintain self respect ― which helps explain the link between joblessness and suicide. Massive numbers of alienated and vulnerable people already living a surreal existence will be explicitly told theyre not even real.
Ask anyone who suffered more than a brief spell of joblessness in the wake of the Great Recession, which officially lasted from December 2007 to June 2009, how it felt to keep hearing that the economy was improving.
applegrove
(118,749 posts)succesful start-ups that can't weather the storm. It is a big sale. Rich people invest with hedge funds.
Binkie The Clown
(7,911 posts)Angry Dragon
(36,693 posts)PJMcK
(22,041 posts)The article is more of an OpEd than news since it quotes only one economist. Further, the author is not a specialist in economics.
Recessions occur as part of every economic cycle. Since Trump is now influencing our economy, I have no doubt hell screw it up as he does with anything he touches. But this column, with its blaring headline, is sensationalist which is just what HuffPost has become.