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Media Talking The Economy Into A Recession To Defeat Trump

Trump Economy
At a time when unemployment is at a 50-year low, the stock market has hit record highs and American workers’ wages are rising for the first time in decades why is the establishment media suddenly awash in talk of a recession?

Fears of an impending recession spiked last Wednesday, when, for the first time in 12 years, a closely watched spot on the yield curve inverted — a warning sign to Wall Street that an economic downturn might be on the horizon.

Markets around the world suffered steep losses after the spread between two-year and 10-year Treasury yields turned negative, a development that has historically preceded every U.S. recession in the past 50 years, although sometimes by a margin of 24 months.

“It’s nice to have the mainstream media finally covering the economy, but they only cover it when they can use Sesame Street's Grover word of the day: 'recession,'" Presidential counselor Kellyanne Conway told Fox News' "Fox and Friends."

"More people are working now than ever before in American history. More people are off the sidelines back into the workforce and those wages are up, particularly among blue-collar workers. A lot of the trade deals the president has renegotiated, continues to negotiate in a bilateral, reciprocal, more fair way to American workers and American interests and America are happening and also the optimism is there," Conway continued according to Sandy Fitzgerald of NewsMax.

Commerce Secretary Wilbur Ross came out with comments couched more in Wall Street’s language than in Main Street’s when he commented on concerns over a looming recession after the U.S. Treasury yield curve temporarily inverted last week for the first time in 12 years.

"Eventually there'll be a recession but this inversion is not as reliable [a predictor], in my view, as people think," Ross said in an interview with Fox Business Network.

And President Trump and his economic team got some support for their position from an unexpected quarter when former Federal Reserve Chair Janet Yellen cautioned on Wednesday that she believed a recession is unlikely, suggesting the yield curve inversion as a reliable predictor could be wrong in this instance.
“On this occasion, it may be a less good signal,” she told FOX Business. “And the reason for that is that there are a number of factors other than market’s expectations about the future path of interest rates that are pushing down long-term yields,” reported Megan Henney of Fox Business.

Ms. Henney reports there are other signals that typically precede real economic calamity — but so far, none are flashing red.

“Despite the current worries about an impending recession, the inverted yield curve can be either a symptom or a cause of the recession,” said Putri Pascualy, the managing director of PAAMCO Prisma. “Yes, worrying about the recession may actually bring one about. Despite the slower global growth, growth is still positive.”

“Today’s job report shows the strength of the U.S. economy, despite several global headwinds,” said Tony Bedikian, managing director at Citizens Bank, after the release of the July jobs report, which revealed the U.S. economy created 164,000 jobs.

Likewise, manufacturing is still growing, albeit at a slower pace. In July, the U.S. manufacturing sector expanded, but the pace of growth slowed to its weakest in nearly three years, according to the Institute for Supply Management. The index dropped to 51.2, the slowest reading since August 2016 as manufacturers are hit by the year-long trade war. Readings above 50 mean the industry is growing; reading below 50 mean the opposite, reported Fox Business.

From our perspective we think Ainsley Earhardt of Fox and Friends had it right when she laid the blame for the growing talk of an economic recession on the media's attitude against Trump.

“They do not want him to win again and they don’t like that the economy is doing well, apparently," said Earhardt.

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What if George Soros, Warren Buffett, and other liberal billionaires decide to take their money out of the American market/economy just to cause a recession?