Wait - Puzder is the guy who was nominated for Labor Secretary but had to withdraw his nomination when it came out that he had an undocumented individual as a housekeeper and Senate Republicans couldn't get enough votes to confirm him, right?
You won't see it on CNN or MSNBC because it's not true. I don't know where he's getting his numbers from, but the Department of Labor reported job growth of 130,000 in August, which was below estimates. Of that number, about 25,000 were temporary federal hires for the 2020 census. Not only that, but the job numbers for June and July were lowered. Even though the unemployment rate is low, job growth under Trump continues to be lower than it was under Obama. This is not my opinion - you can Google the numbers
Again, no one is HOPING for a recession - that's a false narrative being spread by Trump and some elements of the right-wing media. There are economic indicators - factual evidence - that are signaling that we MAY be heading for a recession. Trump's erratic behavior is creating volatility in the markets, manufacturing is starting to contract, GDP looks like it will be at or below 2% for the rest of the year, the yield curve is inverted, and the misguided trade war with China is going to drive consumer prices up. Farmers are going bankrupt because they can't sell their crops, manufacturing companies are laying off employees, the coal and steel industries are still deader than Elvis.
Nobody WANTS this; to suggest otherwise is just insanity. Part of it is the natural cycle of an economy - we're actually several years overdue for recession - and part of it is because the guy we put in charge has no idea what he's doing.
So we may or may not go into a recession in the next 6-12 months or so - I have no idea; all I can do is watch the indicators and listen to the experts. If you want to whistle past the graveyard and pretend that everything's going to be fine because your cult leader is in charge, knock yourself out. Me, I'll listen to the experts who actually know what they're talking about. |
