General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsNeerav B. Trivedi
(205 posts)N/T
Lisa0825
(14,487 posts)It is so vague. I wish they would provide more than two sentences and indicate who this group of economists is. I googled and couldn't find anything more on it.
judeling
(1,086 posts)They are the official keepers of the keys.
What is extraordinary is how soon they called it. It took 8 months to call the 08/09 recession and 11 to call the previous one.
However what people don't remember is we had been in a manufacturing recession for over a year and the underlying economy was pretty weak. The actual talk at the time was when the recession would hit, before the election or in the first quarter of 2021.
KY_EnviroGuy
(14,492 posts)some elements of Trump's tax cut bill will begin to hit workers much harder in 2020 or 2021?
I just remember experts who had analyzed it saying at the time that the working citizen's little initial feel-good tax cut would be tapered off and perhaps their taxes might actually increase down the road.
KY.......
But it much more that the initial effects will have worn out.
RoadRunner
(4,495 posts)Lisa0825
(14,487 posts)I also heard more info later, but by then, I was in my car on the way to the George Floyd public visitation, so I didn't have the opportunity to share yet.
Jarqui
(10,126 posts)I and others were critical of him taunting the Chinese and putting up tariffs.
Many economists felt that tariffs drove the 1930s depression much deeper and longer than it otherwise would have been.
Another error made back them was pretending things were not as bad as they were - like what Trump's trying to do with job numbers now.
A third thing, unlike the 1930s depression: the US doesn't manufacture everything it needs like it did back then. The country is more vulnerable - for example:antibiotics where about 97% of them are made in China and India.
Why America would lose a trade war with China
https://www.imd.org/research-knowledge/articles/why-america-would-lose-a-trade-war-with-china/
China holds a lot of paper on the US debt. They could dump it. A number of countries could buy it up but the act could further destabilize economies around the world.
It's not a good time to have an ignorant, mentally ill person in the Oval office.
struggle4progress
(118,295 posts)jaxexpat
(6,837 posts)I wax sarchastick ...