The Great Trump Recession!

Trump trade war is based on endless lies.  Contrary to his paranoid belief. international trade has benefited US and the world.  Since no one wins in trade wars, Trump tariffs threaten to lower incomes worldwide.  Countries are forced to negotiate with a president who lies constantly and cannot be trusted. He paints trade deficits as bad when actually they are neither good or bad.  US has trade deficits because rich countries can afford to buy more than what they can produce.  Historically, trade surpluses tend to occur with recessions.

@Raiders22

 excellent 

100%   

Side note, bank earnings next week but I'd be surprised to see anything material come out of them.

He wants to be seen as tough.

So the "tough guy" places tariffs on islands inhabited only by penguins, or polar bears and a variety of birds.

The NYT reports "About 22,000 employees at the IRS have signed up for the Trump administration’s latest resignation offer, according to four people familiar with the matter, an exodus that could weaken the agency’s ability to collect taxes."

Could weaken? Did they say could weaken?

What a mamby pamby description!

According to Washington post, IRS estimates over $500 billion in revenue loss from losing thousands of employees.  Congress budget office warns that reducing budget deficits require both tax increases and less spending.  History of countries under austerity show increasing revenue works better than spending cuts.

@thirdperson

So the move isn't a net money savings but rather a net money LOSS.

Wisdom is lost on ignorant people.

admin has alot of super math wizards.

Mark Zandi, the chief economist at Moody's:s.

"The April jobs report shows the economy is not [yet] in recession, despite the Q1 GDP decline. The job market remains a firewall between continued growth and a downturn.
But after accounting for downward revisions to previous months, employment was up only 119k. That firewall feels fragile.
Unless the trade war de-escalates in the next few weeks, the firewall will come down, and a recession will ensue," Zandi wrote in a post on X.

could b another soon

@KellyM_1964

 Too early to say perhaps, so we will see in about 6 weeks. But the way things are trending, a 2nd consecutive contraction is a distinct possibility...