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Looks like Trump destroyed the economy well before COVID-19: (Original Post) Kingofalldems Jun 2020 OP
Wow.....so much winning, right Drumpf? Neerav B. Trivedi Jun 2020 #1
I'd share this, but... Lisa0825 Jun 2020 #2
The National Bureau of Economic Research judeling Jun 2020 #5
Thanks for that insight. Adding to the fire, do I recall correctly that.... KY_EnviroGuy Jun 2020 #6
Some judeling Jun 2020 #8
CNN article RoadRunner Jun 2020 #7
Thanks for the additional info... Lisa0825 Jun 2020 #11
Trump is playing with real fire Jarqui Jun 2020 #3
"Maybe a nice pandemic could help distract everyone from a recession" struggle4progress Jun 2020 #4
That would be convenient. One can only hope. jaxexpat Jun 2020 #10
Interesting soothsayer Jun 2020 #9

Lisa0825

(14,487 posts)
2. I'd share this, but...
Mon Jun 8, 2020, 01:37 PM
Jun 2020

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)
5. The National Bureau of Economic Research
Mon Jun 8, 2020, 01:55 PM
Jun 2020

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

(14,490 posts)
6. Thanks for that insight. Adding to the fire, do I recall correctly that....
Mon Jun 8, 2020, 02:07 PM
Jun 2020

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.......

Lisa0825

(14,487 posts)
11. Thanks for the additional info...
Mon Jun 8, 2020, 11:03 PM
Jun 2020

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

(10,125 posts)
3. Trump is playing with real fire
Mon Jun 8, 2020, 01:42 PM
Jun 2020

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.

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