Cool the Recession Talk
Economic indicators point to continued, moderate growth, despite the prognostications of the pundit class.
James Piereson August 19, 2019
https://www.city-journal.org/recession-talk
FTA:
None of the major institutional forecasters is looking ahead to a recession in 2019 or 2020. The Conference Board, while recognizing risks to the economy, is still forecasting real GDP growth of 2.3 percent in 2019 and 2 percent in 2020. The International Monetary Fund, in a July report, forecasts global growth to expand to 3.5 percent in 2020, with the U.S. economy expected to expand at 1.9 percent. The most recent forecast of the Federal Open Market Committee calls for 2 percent growth in real GDP in 2020, compared with 2.1 percent in 2019. This is the conventional wisdom, to be sure, and such wisdom has often missed the mark, as we saw in 2007 and 2008. Nevertheless, these projections come from current economic indicators, none of which is signaling a recession in the months ahead.
‘Dirty secret’: Scaramucci ‘abused staff’ and claimed White House officials were having affair
by Steven Nelson | August 20, 2019
FTA:
President Trump’s allegation that Anthony Scaramucci “abused staff” was met with agreement from many who worked under or near the financier during his 11 days as White House communications director.
Sources said Trump’s tweet Monday recalled a little-known truth: Although Scaramucci was dismissed after disparaging other senior officials in a profane interview, he was on the verge of being fired anyhow.
“The dirty secret was the interview escalated it. The reality was [other] things, that’s where [White House chief of staff John] Kelly lost his shit,” a source familiar with Scaramucci’s termination said. “Everyone in the press watched the expletive-laced tirade and no one went, ‘What else caused it?’”
Scaramucci’s gravest human resources sin featured telling a female White House official that he heard she was sleeping with a more senior male official, many sources said.
There’s always going to be a recession. There’s business cycles, and the stock market goes up and down. I just pray anything doesn’t happen until after Trump wins 2020, because the Democrats have ALWAYS capitalized on the fact that the majority of their voters don’t understand finance or economics, and they all believe that government should fix everything and give them everything.