I've been noticing bits and pieces of information that seem ominous for the Best Economy Ever:
“Greatest economy in American history”? Not so much, according to the president’s own Commerce Department https://t.co/qlwCpTx9o3
— VANITY FAIR (@VanityFair) October 31, 2019
Farm bankruptcies are up 24% over last year; highest level since 2011
Farm debt is at record high
40% of farm income made up of government and insurance payments#TrumpEconomy https://t.co/VDSX7BMXQa— Chris Lu (@ChrisLu44) October 30, 2019
Gulp...
“Almost 40% of projected farm profit this year will come from trade aid, disaster assistance, federal subsidies and insurance payments, according to the report, based on Department of Agriculture forecasts. That’s $33 billion of a projected $88 billion in income.” https://t.co/xziDPhxoHl— Shawn Donnan (@sdonnan) October 30, 2019
Trump said coal and steel would be the beating heart of a revived U.S. economy, but the promised renaissance isn’t materializing. The manufacturing slump across the Rust Belt may test whether Trump can retain his appeal to blue-collar workers in 2020. https://t.co/DuJmknvZ7d
— AP Politics (@AP_Politics) October 30, 2019
Trump is an "utter failure" at bringing manufacturing jobs back to swing states, Nobel prize-winning economist says https://t.co/ANOs46xNLX
— Newsweek (@Newsweek) October 30, 2019
US manufacturing now least since 1947. Obama, then Trump promised to revive, rebuild US manufacturing. Profit-driven CEOs say no, keep moving jobs abroad. They rule, politicians obey. #HowCapitalismWorkshttps://t.co/bM2svp0Vu7
— Richard D. Wolff (@profwolff) October 30, 2019
JPMorgan is considering selling off the company's Manhattan headquarters and cutting or relocating employees to cities with cheaper costs and better tax benefits to insulate itself from a looming economic downturn. https://t.co/XarP2kWDlf
— Axios (@axios) October 29, 2019
NEW: Manufacturing is showing major cracks in the Upper Midwest, a development with big implications for the 2020 election. @davidjlynch takes us to Wisconsin to show us what's unfolding. https://t.co/kZDFLc3aKu
— Damian Paletta (@damianpaletta) October 29, 2019
The pace of U.S. economic growth slowed slightly to 1.9% in the third quarter as business investment declined, though consumer spending kept growth on track https://t.co/mgtUfuk2PF
— The Wall Street Journal (@WSJ) October 30, 2019
U.S. consumer confidence unexpectedly fell to a four-month low as economic expectations dimmed, a warning sign that the consumer spending that’s been propping up the expansion may face challenges https://t.co/zB7JhxWSRt
— Bloomberg Markets (@markets) October 30, 2019
When the Fed cut rates today for the 3rd time, it brought the real Fed Funds Rate (Fed Funds - Core CPI) down to -0.8%. In the past 2 cycles we didn't see a Fed this easy until...
-Oct 2008 (8 months into worst recession since Depression).
-Dec 2001 (8 months into recession). pic.twitter.com/E21OtUM0PM— Charlie Bilello (@charliebilello) October 30, 2019
Signs of an uneven recovery:
➡️ Corporate profits are up 4%
➡️ Corporations spent over $1T in 2018 on stock buybacks
➡️ Millions of Americans can’t afford an emergency $400 expense
➡️ The share of national income that workers receive hasn't recovered since the recession— Ro Khanna (@RoKhanna) October 29, 2019
As corporations earn massive profits, executives get huge bonuses and investors are rewarded with stock buybacks, workers’ share of national income plummeted during the recession and has never recovered.
Another sign that our recovery has left millions of Americans behind. pic.twitter.com/zYW92fFtHd— Ro Khanna (@RoKhanna) October 29, 2019
Steepest rise in auto loan spread since the Great Recession.
Meanwhile, delinquency rates continue to rise. pic.twitter.com/oM9mZNA178— Otavio (Tavi) Costa (@TaviCosta) October 28, 2019
Recession Alert: 👇👇👇
Auto sector is degrading, not only in the US, but also globally. pic.twitter.com/xpyKzo5srY— Remi Tetot (@RemiGMI) October 29, 2019
Excited for this new recession. pic.twitter.com/ID58ZqiQnx
— BIG BILL (@MarLinSoc) October 30, 2019
BREAKING: The Federal Reserve has cut its benchmark interest rate for the third time this year to try to sustain the U.S. economic expansion in the face of global threats. But it hinted that it won't cut again at its next meeting. https://t.co/g5p202lUuM
— The Associated Press (@AP) October 30, 2019
The Federal Reserve Bank of New York injected $99.9 billion in temporary liquidity into financial markets Tuesday https://t.co/JhJnBU2Lk2
— WSJ Central Banks (@WSJCentralBanks) October 22, 2019
Now we also have a gigantic budget deficit driven in large part by the tax cuts that were supposed to both pay for themselves and permanently goose growth. The tax cuts did neither. https://t.co/cp02A0MUDP
— Jennifer Rubin (@JRubinBlogger) October 30, 2019
Think back to 2008, and which things you missed the most after the recession. Buy them now, and stock up!
