There’s no great time for an economic downturn. But there are some timings that are worse than others, and it looks like the U.S. might be swinging toward recession at a time when it could do maximum damage.
On Sunday, Donald Trump tweeted that he had a 93 percent approval rating among Republicans, and retweeted a story that Republican leaders wanted to stay close to Trump to bask in his “economic miracle.” That 93 percent rating didn’t actually come from a poll of all Republicans. It came from a poll conducted at CPAC, a politics convention that draws only the most crazed conservatives. But it does show that the most right-wing of the right-wing is indeed wedded to Trump. However, it came from a poll conducted at the previous CPAC. So … maybe not so much today. And if the opinion piece Trump tweeted claimed that he was beloved because he hadn’t yet managed to screw up a decade worth of economic improvement … hold his Diet Coke. Because that may be coming to an end.
As reported by Bloomberg, a whole series of economic indicators have turned gloomy. And were’ not talking about the relation of the market to the winning team in the world series, or a connection between the housing rate and Punxsutawney Phil. These are the basic economic indicators that show which way the wind is blowing in the very near future.
View the complete March 19 article Mark Sumner with Daily Kos on the AlterNet website here.