#TrumpRecession Trends as President Blamed for Rising Fears of Another Economic Meltdown

Authored by commondreams.org and submitted by Jons312

Fears of another financial meltdown in the United States and across the globe sent the hashtag #TrumpRecession to the top of Twitter's trending list on Wednesday as commentators and lawmakers pinned the diving stock market on the president's economic agenda, including his reckless trade war with China.

"Why did the Dow drop over 700 points this morning and why is #TrumpRecession trending? Because the yield on the 10-year Treasury note broke below the 2-year rate," tweeted Rep. Ted Lieu (D-Calif.). "This inverted yield curve has historically signaled an approaching recession."

As Common Dreams reported earlier Wednesday, the inverted yield curve—which has predicted every major recession over the past five decades—sparked warnings from economists that a major economic downturn could be just around the corner.

On Twitter, Wajahat Ali, a contributing op-ed writer for the New York Times, rattled off several of Trump's failed promises that preceded fears of another crash.

"Trump promised to eliminate the debt in four years; he increased it," Ali tweeted. "He promised to win the easy trade war with China; he didn't. He promised Mexico would pay for the wall; it won't. His tax cuts were going to trickle down and spur the economy; it didnt. #TrumpRecession."

"Trump came along and deregulated everything, weakening the post-Great Recession laws meant to curb Wall Street abuses, and authorizing a massive tax cut for the wealthiest Americans without paying for a cent of it." #TrumpRecession https://t.co/D8FPONBsf3 — Swing Left (@swingleft) August 14, 2019 SCROLL TO CONTINUE WITH CONTENT Get our best delivered to your inbox. ICYMI: Trump accuses China of currency manipulation because their currency devalued in the wake of his tariffs. However this accusation has no basis in fact. Instead, Trump's trade war only increases the likelihood of a recession #TrumpRecession https://t.co/bcWX0FpprZ — The Real News (@TheRealNews) August 14, 2019 The #TrumpRecession is gonna be YUGE. The ‘good’ news is that the 1% won’t be affected that much - they’ve been able to stow away their windfall from the #TaxScam to soften the blow. https://t.co/cAPGFot8YA — Nick Knudsen (@DemWrite) August 14, 2019

An anonymous senior White House official insisted to Politico on Wednesday "there is no recession coming" despite all of the warning signs, but economists and other analysts are not nearly as confident.

Chris Rupkey, chief financial economist at MUFG Union Bank, told the Washington Post that "yield curves are all crying timber that a recession is almost a reality, and investors are tripping over themselves to get out of the way."

sheepsleepdeep on August 14th, 2019 at 21:27 UTC »

There has been a recession in the first term of every Republican president for the last 120 years.

notanotherredditid on August 14th, 2019 at 21:14 UTC »

Donald Trump Bankrupting America. Just like his other businesses he bankrupted..

Trump Steaks GoTrump (online travel site) Trump Airlines Trump Vodka Trump Mortgage Trump: The Game Trump Magazine Trump University Trump Ice (bottled water) The New Jersey Generals (pro football team) Tour de Trump (bicycle race) Trump Network (nutritional supplements) Trumped! (syndicated radio spot) Trump Oil Corporation(1999) Trump Taj Mahal (1991) Trump’s Castle (1992) Trump Plaza Casinos (1992) Trump Plaza Hotel (1992) Trump Entertainment Resorts (2009) Trump Tampa (2005) Trump Hotels and Casinos Resorts (2004)

MAGA my ass!

Russkun on August 14th, 2019 at 20:05 UTC »

Amazing how this happens every time a republican becomes president.