Don’t worry, it’s just a little more pain and inflation disturbance before tariff greatness begins. 
Trump Won’t Rule Out Recession
The Wall Street Journal reports Trump Declines to Rule Out Recession
Asked in a “Sunday Morning Futures” interview on Fox News if he was expecting a recession this year, Trump replied: “I hate to predict things like that. There is a period of transition because what we’re doing is very big.”
In the interview that aired Sunday, the president demurred when asked if there were reassurances he could provide to businesses seeking more clarity on tariffs.
“Well, I think so,” he said. He then added: “You know, the tariffs could go up as time goes by.”
The president, who regularly bragged about the stock-market performance in his first term, played down its importance to his second-term agenda.
“Look, what I have to do is build a strong country. You can’t really watch the stock market. If you look at China, they have a 100-year perspective,” he said.
Trump has in recent days acknowledged the choppiness tariffs have brought. “There could be some disturbance, a little bit of disturbance,” he said Friday. In his Tuesday speech to Congress, Trump defended his agenda while also noting there could be some disruptions.
Lutnick vs Trump
“There’s going to be no recession in America,” Commerce Secretary Howard Lutnick said on “Meet the Press” on NBC News.
Economy Could Be ‘Starting to Roll a Little Bit’
On Squawk Box, Treasury Secretary Bessent said the Economy Could Be ‘Starting to Roll a Little Bit’
“Could we be seeing that this economy that we inherited starting to roll a bit? Sure. And look, there’s going to be a natural adjustment as we move away from public spending to private spending,” Bessent said on CNBC’s “Squawk Box.”
“The market and the economy have just become hooked. We’ve become addicted to this government spending, and there’s going to be a detox period,” he added.
One area where Trump’s policies could be felt quickly are tariffs. The president has hit Canada, Mexico and China with tariffs in his first nearly two months in office, though the Canada and Mexico efforts now have a lengthy list of exemptions. The administration plans to implement broader tariffs in April.
“Tariffs are a one-time price adjustment,” Bessent said, pushing back against the idea that tariffs would fuel continued inflation.
Bessent also said the administration was “not getting much credit” for areas where costs have fallen since Trump’s inauguration, such as oil prices and mortgage rates.
Q & A on Giving Credit Where Credit Is Due
Q: Why are mortgage rates and the price of oil falling?
A: It’s economic weakness and recession, silly.
Q: What is causing much of this weakness?
A: Tariffs and whiplash over tariffs, but the economy was weakening already. Tariffs are merely the final blow.
Q: Is strong inflation temporary like Bessent says?
A: Yes, as long as recession and the economic slowdown overpowers inflation.
Q: How long is that?
A: We are all guessing but there is massive pent-up inflation on deck if Trump gets everything he wants in a budget deal.
Q: Is this winning?
A: What color is your hat?
A Disturbance in the Force
It seems like Trump and Bessent are aware of this data. So we have a new label. Call it the “Detox Recession” and embrace it.
As for clarity, “You know, the tariffs could go up as time goes by.” And “There could be some disturbance, a little bit of disturbance.”
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The few people I know who voted for Trump are either very well off or very badly off. The well off ones are looking at what is happening as a buying opportunity. The badly off ones were suffering so much economically that they are not noticing big changes in their own lives, yet. This can change, of course.
I wonder if tanking the stock market is a way of punishing California. Most of California’s income comes from taxing stock market gains; when the market goes south, the state of California goes broke.
LOL I love how you’re still looking for some kind of logical explanation for this. Hope dies hard.
How is it hope? Trump is a real estate guy; he doesn’t like CA and he doesn’t care about the stock market. He is wrong about some things but he is not a moron. Why couldn’t punishing high tax blue states be a motive? Do you think he just acts randomly? He won the presidency; that suggests the ability to plan and anticipate. You may not like that but he clearly has those abilities. It seems like you are just hoping that he is a vegetable, but that is just hope.
“Look, what I have to do is build a strong country. You can’t really watch the stock market. If you look at China, they have a 100-year perspective”
Trump is SO RIGHT about that, and we the West, not just America, needs to adjust its time frame to planning on that scale.
Nobody in their right mind would ever associate Trump with long-term thinking. That style of thinking is just not in his genes.
It’s in Bessent’s genes.
Good luck with that. He will deny his genes when he faces Trump’s whimsical decision making.
Then, we’ll head into dystopia. See my comment below that references Luke Gromen. Dumb people will blame Trump and not the parade of past governments that weakened the US by exporting our manufacturing base while, at the same time, running up an insurmountable pile of debt. Good luck to your children.
Yes just like Pretoria and trump the right president.
Lol! 10 to 20 million *illegal* immigrants will be hiding in their homes, cutting back on consuming (why buy stuff if you believe you’ll be deported?). That will bring down most CPI components in the reports over the coming months, but won’t help the CPI shelter components. We need to (self?) deport 2+ million *illegal* immigrants to see shelter inflation start to fall.
Good idea.
What a show!
Welcome to the Golden Age America!
I am looking forward to Trump’s tariff revenue cutting our deficit and debt and causing an economic boom in US manufacturing.
Did you forget your sarc tag? 🙂
You are in luck. Your desired economic experiment is playing out without a hitch.
Not really. Trump has promised far more tariffs than what he has implemented so far.
He keeps announcing them and then backing off or pausing them.
The result is we get the negative effects of “threatened” tariffs without actually collecting much money.
I want him to go full out tariffs and see what happens.
Really have some doubts that the sky is falling as just got an invite for a Black tie Wedding affair.
Quite a stretch from my early days when renting the local Veterans hall, hiring a DJ to play records, related and soon to be related woman decorating said Hall and everyone bringing a dish of food for the blessed event.
A few weeks ago, it was all “Day One.” Now (that the sales pitch got him in), it is “100-year perspective.” What will it be in five minutes?
Stop meddling
The Federal government cannot function on anything but a 0% 10 year treasury yield.
Government deficit spending created the market liquidity which is the reason for the recent 15 year bull run.
Trump wants to look out for ‘main street’ not ‘wall street’. He’s older now and maybe he truly does care about ‘main street’. I’m hopeful.
Trump was elected 50 years too late. This ‘main street’ thing is a non-starter in a ‘flat world’.
Agree with you. Only the blind or the willfully blind refuse to accept reality. The country and population is broke. Trump’s administration wants to give $5,000 to each taxpayer. That’s chump change. I’d say $50,000 to $200,000 per tax payer. I know this is inflationary and speak in jest, but the reckless spending and wars destroyed this country. We need to do a group prayer.
Howard Lutnick’s Cantor Fitzerald lost 700 traders in WTC in Sept 11 2001, including his bros. His enthusiasm rebuild his co and lifted it up from the ashes. He is a trader not an econ blogger: the best traders in NYC are working for him. 1D SPX down to Sept 11 2024 fractal zone, in Apr, after a bear market rally. What else ????
What’s Lutnick’s position on, or association with, the Stablecoin Tether? Numerous sources online link him to it. The book Number Go Up claims (awhile back, a few years ago) some pretty scary stuff, in details and on alleged personal experience, about Tether and international criminal networks (but nothing on Lutnick, that’s a different matter). I have no personal knowledge of any of this, or of these people, of course. Just asking. I’m sure Mr. Lutnick is a terrific trader. I just thought it interesting that this individual is now Secretary of Commerce of the United States, and obviously close to the oval office.
So you’re trying to make stuff up, but you need help?
Cantor Fitzgerald is a Federal Reserve primary dealer. Lifted from the ashes? Sure, from insider trading.
The market seems to disagree with Mr. Hassett…
– The WSJ reports: Trump declines to rule out recession.
> Why on earth would He do that? Especially when you consider what He was left with to clean up, and make up for. What He did say was: “I hate to predict things like that”
– “There’s going to be no recession in America,” Commerce Secretary Howard Lutnick said on “Meet the Press”
> What a dummy! Does he think He’s a physic? Anyone that arrogant, doesn’t belong making decisions, and especially when they can affect others!
– “Could we be seeing that this economy that we inherited starting to roll a bit? Sure. And look, there’s going to be a natural adjustment as we move away from public spending to private spending,” Bessent said on CNBC’s “Squawk Box.” And “The market and the economy have just become hooked. We’ve become addicted to this government spending, and there’s going to be a detox period,” he added.
> Legitimate answer!
– Trump’s Tariff policies?
> Wait and see, as Nobody truly knows what will occur. Too many wild cards in the mix.
The market was long overdue for a big correction no matter who is in power because aluations were at 1929 levels. A recession is to be expected with the reckless socialist money printing, rate suppressing, deficit spending path we’ve gone. And Trump and the rest of the Republicans and Democrats shouldn’t be adding to our debt, that we’ll have to pay one way or another, by giving more tax breaks to the already wealthy.
Why would anyone with a few active neurons in their head pay any attention to anything Trump says. He rarely tells the truth and lives in his own alternative reality with alternative facts. As President for the last 7 weeks he’s damaged the country, betrayed our military allies, humiliated the President of Ukraine in a televised ambush and basically told NATO, Denmark, Panama, Canada and Europe to go to hell…but he always has kind words for Putin who would like nothing better than have Trump destroy NATO, Ukraine and America.
You kind of answered your own question. The man is creating damage and we aren’t sure why it is needed, or if it is even the best way to solve the obvious debt problem.
He moves markets. Ignore him at your own peril.
Trump’s day to day existence, even before this presidency, has been growing increasingly volatile and disruptive. I see no sign of him moving from that path. I have a sense he will maintain this volatility and disruptiveness every moment he can from here on until — who knows?
“They never ring a bell at the top”
Palantir CEO stock recent stock sale. I hope the little people, like Pelosi, are ok.
One of the more interesting spectacles to watch is Trump’s economic officials (foremost Bessent and Hassett) peddling utter economic nonsense on live TV to avoid contradicting Trump. And they sometimes even call it 101 Economics (Hassett on Sunday). But one can see from their body language that they clearly know they are talking nonsense. Reminds me of the former Soviet Union when people were forced to talk nonsense in order to be in line with the official diktat of the day.
Based on your comments you seem to be interested in jabs, buzzwords and generalities. Can you provide some substance or some outside the box ideas or perhaps even solutions ?
Lions, tigers and bears oh my! I remember when we were supposed to have a business cycle. But then decades of financial engineering, creating bubbles, crashes and more financial engineering, rinse, wash repeat. Since the biowarfare exercise conducted around the globe, its been government deficit spending in overdrive. DOGE it all. Go outside, cut your own lawn.
I already cut my own grass, my wife cuts my hair, we dine out maybe 3x/mo., and there will be zero home improvements in 2025 and possibly beyond. Shall I go back to changing my own oil? Any other tips? Maybe just one carton of eggs per month?
Get some chickens.
Not profitable according to those who’ve tried.
Unbelievable that Trump’s Secretary of Agriculture Brooke Rollins, suggested Americans keep chickens in their back yards.
We still haven’t seen the conclusion of Bernanke’s grand experiment and now we shall overlap that with a new Trump/Bessent grand experiment.
Trump is eyeing a double award year, with a Nobel Peace Prize and a Nobel Prize in Economics. He’ll be lucky to get one, most likely he’ll get neither.
I appears Trump is taking a page out of Reagan 1980 – a short, hard recession in the first few years to smash excess inflation, and then (we hope) a quick recovery. Although the 1980 recession brought 10% unemployment – it did pave the way for a massive recovery that in many ways lasted until year 2000 or beyond. I think we may see a re-pricing of houses, CRE and of course the tech stocks. My utilities are actually up today.
Ever heard of the concept of “stagflationary shock”? That’s what Trump is administering to the US economy, with eyes wide open.
Trump is looking more like Jimmy Carter than Regan. Gratefully there won’t be another term.
Yeah, I’m looking forward to Vance.
8 of them!
Nah, it lasted until 1989. Then came the worst economy of my adult life from 1990-1998.
It depends on where you lived – I was in the Silicon Valley, and from 1993-2000 it was a real up ride!
SoCal. It was a struggle. I was in my 20s.
“There’s going to be no recession in America,” Commerce Secretary Howard Lutnick said on “Meet the Press”
Ha Ha!
Slutnick is a top trader: 1W SPX down to the 5,400 area, below Sept 3 low, in Apr, before rising to 6,500/6,700. 7,000+ in 2026/2027. The chart said: no recession.
Lutnick comes across as a DEI hire. Trump and Bessent don’t even bother to inform him that the TV talking points have changed 180 degrees.
Are we in recession?
Don’t know why Hoover and FDR didn’t just print their way out of it 90 – 95 years ago, right???
That question was asked by Milton Friedman, the monetarist and free marketer himself. The collapse of monetary aggregates was, if I understand him right, the primary reason a crash turned into a decade-long slump.
Immediate, massive tax hikes have consequences.
‘Call it the “Detox Recession” and embrace it.’ I think that is exactly right.
The misallocation of resources from a decade+ of artificially low interest rates and politically-directed malinvestments (Green scam) has been kept under wraps by $2 trillion deficit spending and massive govt hiring. The disruption and uncertainty associated with tariffs is as good a trigger for a cathartic cleansing as anything. It will not be pretty.
While Trump always cries out for lower interest rates. Right.
Yes, I wish he wouldn’t say that. I was just applauding Bessent’s truthful, accurate phrase. The coming recession has little to do with Trump, although his deregulation efforts could help with the healing, in time.
We are getting lower interest rates. What is the point of your comment?
Hey Howard, if there is a recession will you please resign?
I’ll be glad when that swarmy so & so is retired.
The monetary inflation is baked in the cake either way since the federal government has been running deficits in excess of 6% of GDP to paper over their incompetence. Do you think you can take away the monetary equivalent of cocaine without a recession? If no one is allowed to fail then you don’t have a free market.
Detox Recession
I like that, Mish! And the very important follow-on questions are:
When a recession arrives, how much helicopter money will the Fed print up? And before that, when will QT stop? How much buying will the Fed do to keep its ample reserves before the recession hits?
No printing. The Fed will raid your bank account.
“There’s going to be no recession in America,”
“It isn’t official until the denial.”
I doubt Q1 will be negative. Would not be surprised if Q2 and Q3 are.
Guilty until proven innocent,
Trump and Bessent told us the truth: recession is possible. It’s an option. We are addicted to politicians who lie to us. Behavior econ: negative news are X2 more effective than good news. Doomsday rule !
Kitchen table politics. Late night pillow talk with Mom and Dad about how to pay the rent with all the other bills getting higher. People who were promised a real change are now visiting the local food bank on the regular, and meeting their neighbors there. This is reporting from the street, where men are scraping Trump stickers off their truck, and bitching at the bar about prices for everything from diapers to donuts to diesel fuel. No one in this neck of the woods is the least bit shy about saying they feel like a rube. They’ve seen the bearded lady at the MAGA circus, and feel ganked for ever buying a ticket. They are punching up at Trump, and that’s the news.
Pillow talk with your parents? Hmmm. Yeah, no one is scraping stickers off of trucks.
“Democracy is the idea that the common man knows what he wants, and deserves to get it — good and hard.” — H. L. Mencken, quite a long time ago
i have niehgbours going to those food banks. at least that’s what a few of them told me. i offered to sit down with them and go over their finances, like
eating out
multiple pets
their insane smoking habits..
i have been volunteering my time for many years teaching people HOW to live properly and to teach them how to cut back.
Americans are accustomed to a particular lifestyle. I had a neighbour who had 23 animals, yes, 23 in her two bedroom apartment. even if you have one pet and can’t afford it, goodbye.
cut back. i know people doing it right now.
get roommates
something can be done to at leat help lessen the pain a teeny weeny bit, right?
You can’t fix stupid. Thanks for trying.
Ok, Mish. Per Luke Gromen, whom you say you follow, the best alternative for us is a dramatic lowering of the value of the dollar. That’s will make our goods more competitive, in theory, but it will result in much higher inflation, same as tariffs. That also will bring the problem of competitive devaluation. The Chinese will also devalue massively, as will every other country with the ability to do so. So, our devaluation will inflict massive pain on our citizens and accomplish little. The US is the most prized final goods market in the world. There is value in that distinction, and the way to realize that value is through tariffs. Other than military conquest, tariffs are our only obvious weapon. First, reciprocal tariffs, and then tariffs in industries that we want to protect. Or, we can pursue your strategy and do nothing or proceed in a glacial but mannerly way. Deficits will widen. Public debt will explode. Interest will consume all of government receipts. Government spending on its dependents will collapse, or we will have hyperinflation. It’s the same effect either way. How do you think this ends? Strife? Revolution? Or, perhaps you think that the world will have a moment of clarity authored by your singular intelligence and suddenly come to its senses and then do what exactly? I enjoy your writing, but I don’t understand your perspective. Please enlighten me, if you feel so inclined. Thank you.
I think that the US will prob break up into 2 or 3 smaller entities. Not in my lifetime, but sometime.
North America will redesign itself into a stable configuration…..without a superpower.
Interesting. My son told me the same thing yesterday. I hadn’t thought about the possibility, but it makes sense. Thanks.
Welcome!
Trump has to fix Biden’s sinkhole before we can move on.
What happen to the golden era of greatness
I’m wondering the same thing.
Inflation was to come down, eggs were going to be practically free. No taxes on social security or tips, all wars would come to an end and a new golden age.
Looks like the dimwits have been had.
Biden ran a juggernaut economy with stock market making all time highs and now the stock market is crashing on tariffs, broken trade agreements, distrust and other chaos all induced by Trump and the spineless GOP.
This isn’t an “inherited” recession, it’s solely created by clueless clowns in office now.
Paging Midnight, my puts are deep in the money but I am going to hold because I know Trump’s idiocy isn’t over yet. Diamond hands!
And to TexasTim, how do you like this chaos and the takeover of Canada?
You reap what you sow and tragically it was all easily predictable.
But see you can’t go with that because the number one reason people voted against Harris/Biden was the economy. So no. And that’s a fact. So no one actually believes that and further if government spending and inflation was progress Zimbabwe would be the greatest country on earth. You can’t just make up shit.
And the economy is better now? For who? What planet are you living on, layoffs are accelerating all under trump’s tariff stupidity.
Again, explain the vote? You can’t. I;m not judging a President by 6 weeks. How ludicrous. I’ve said we have a stock market bubble. That was popping no matter what. Housing too….Patience. That’s the word. Going to take years to fix. 1400 more days in the Presidency. Patience.
Poppy and Dumbya had very high approval rating at specific points in their administrations. 90% IIRC. All it takes is a Gulf War 1 or 9/11.
You keep hoping and I’ll keep profiting.
I’m pulling for you….Just be careful bc he can change his mind and the narrative at any moment. But lower seems right side.
Biden was hiring federal workers at a rapid clip, to hide a failing economy and temporarily stave off a recession, to get reelected. What planet are you living on?
The left thinks being emotional is being right.
Then wake up in the morning and have buyers remorse because you traded in the meat and potatoes for a synthetic vagina. I just felt like a woman!
Better in two months? The economy was going into recession absent the fiscal shit show of deficit spending and as we now learn, general money laundering of tax / debt dollars.
1W SPX is down 8%, before rising to 6,500. The detox recession is an option. How about no recession.
National Debt was up to 36 trillion under Biden. Yes we reap what is sowed. Easily predictable, the outcome of a parabolic arc in the stock market. Reversion to the mean is next. Booms end in busts, So much for economic juggernauts based on a skyrocketing national debt.
How much did the debt go up during four years of Trump previously? If I recall it was 7.8 trillion or about 40 percent of all of the previous debt. Do you think he will somehow build a surplus in the next 3.8 years?
Not likely.
A bipartisan bunch of idiots pushed the both the national debt and the stock market beyond all historical valuation levels. The bubble mindset made both worldwide fiscal crisis and a market plunge inevitable. China, the EU and Japan as well, this was a worldwide binge.
The globalists led the insanity and will reap a bitter harvest as populations worldwide turn to alternative leadership.
Biden’s economy was based on government spending. That works until you run out of other people’s money.
And what is trump’s grand plan economy going to be based on? Tariffs? Lol, it isn’t working out too well is it?
“Biden ran a juggernaut economy with stock market making all time highs…”
Based on your posts you seem to know full well that a few over-performing blue chips do not a strong economy make, so I’ll chalk this as politically-driven hyperbole.
A strong economy wouldn’t rely on deficit spending for a little more than 25% of its budget (1.8 Trillion out of 6.75 Trillion).
https://www.visualcapitalist.com/breaking-down-the-u-s-governments-2024-fiscal-year/
How quickly runaway Deficit Fiscal spending under Biden gets forgotten as factor causing inflation and nominal GDP growth.
Freebie time is over and along with it was pre-election spending to Buy votes and deny truth.
Also War spending is getting the overview scrutiny. Always there are disruptions and reallocation’s as War economy spending scales back.
Just wait till you see THIS year’s deficit. It will be more magnificent than any before!
Congress is barely keeping up with Biden/Harris spending.
If Harris got in there would be no more economy. Only Government.
What is being done is returning economic decisions to the people who pay Taxes. Strange as that sounds to many who post on this site it was the way things got done for most of US History.
Those raised on socialism will be suffering from some shock at this turn of events. For those with some Grey hair or a lot of grey/white hair it will be a return to normalcy. No biggy at all.
“Bessent also said the administration was “not getting much credit” for areas where costs have fallen since Trump’s inauguration, such as oil prices and mortgage rates.”
This like taking credit for the weather. I get tired of the Bullshit.
TrumpCO has nothing to do with Oil Prices and Mortgage Rates.
NEXT UP: EGG PRICES will drop a nickel and a headline will rip out: “Trump Loves Chickens and do you see what happens when he does?”
Reagan election following the disaster of Carter is instructive. Inflation still had to come down and we had a recession and bear market followed by an epic comeback. History rhymes.
Except the country didn’t have much debt at all. Which is what allowed Reagan.to succeed.
This is true as a starting point. Which is where the cuts to the budget are so important. We have a spending problem.
True, that helped.
It was also important that the U.S. general population in the 1980s was structured like the big three auto companies in the 1950s, younger and in peak earning years with relatively few retirees.
40 years later the U.S. population is like the auto companies in the 1990s, much greater proportion of retirees and significantly burdened by payments to them.
The hate of Trump is growing, but he will enable us to move on until the 2100’s as a superstate
Sounds like Third Reich propaganda. In reality, Trump can’t even deal with egg prices.
At least MAGA is humbler about an eighty year reich rather than one lasting a millennium.
The 100Y uniparty: Trump is a criminal, Trump is a Nazi, a threat to our democracy.
What will u say if SPX will rise to 6,500 ?
6500? Been there (almost). Now it’s 5631, and falling fast.
5611 now.
I don’t want you to starve to death, so I’ll leave this right here –
Raising Chickens for Eggs: Easy Tips for Beginners – Forestry.com
The Biden Admin destroyed 150MM hens. Lunacy. Which of course is why you’re a supporter.
I assume you would have fed the bird flu-infected birds to the American consumer (or maybe exported them to Canada)?
The BRICS are a booming!
If [1M] SPX will rise to 6,500, before dropping below Oct 2023 low to about 4,000, RSI will enter recession territory for the first time since Feb 2009. Since 2009 low SPX will be up 5,840 pt between 666 and 6,500. Detox: 2,500/5,840 = 42%. Can it get worse: yes!
You’ve been following Rick Ackerman too.
I don’t know who is Rick Ackerman. I looked at SPX 1M and 12M
Mish, what is your opinion on the China rapeseed tariff against Canada?
The US asked Canada to match US tariffs on Chinese EVs, aluminum and steel in mid 2024. Because of Canada’s close friendship with the US, they followed the US lead and placed the same tariffs on China. This is China’s response to those Canadian tariffs; Chinese tariffs on Canadian agricultural. You’re welcome Canada.
https://www.thestar.com/politics/federal/trudeau-government-matches-u-s-tariffs-on-chinese-evs-and-beijing-warns-of-retaliation/article_11cee036-6396-11ef-8ef1-035d92b80fb1.html
The high price of being a friend to the US.
Detox recession? There was no need at all for this recession. It was caused by Trump’s utter ignorance of the most basic economic concepts. Enjoy the low oil prices!
We were always heading for recession. Also the only solution to inflation. Im hedged and ready. Collapse this bullshit market already.
9.2 trillion of debt that has to be rolled over in the next few months at current rates is plenty reason. Thank you Janet. We’ve been in a recession for at least two years anyway. It’s just been sugar coated by all the dem stimulus.
I think you are forgetting about all of the stimulus Trump did during COVID. Stimulus is a bipartisan issue.
The message of a “Detox Recession” attempts to preemptively put a positive spin on what’s to come.
Yes there is a reason for recession. Everything is so out of whack. 36 trillion national debt is not a basic economic concept. it is now taking a trillion dollars of tax money to pay the interest. A trillion dollars out of the tax payers pockets that doesn’t buy a single dollar of government services.
A full blown recession will bring down rates long enough to refinance the 9 trillion in debt that is about to roll over. 36 trillion of debt has consequences.
Agree. The national debt should be the prime focus of the US government. Why deliberately tanking the economy will lower the national debt is a secret only Trump has figured out.
I just have to thank you for being able and willing to show that the emperor is naked regardless of who it is. I have lost faith and interest in a number of bloggers since the election when they suddenly became Trump fans and wrote about his “brilliance”, completely ignoring his blunders. I first took it as desperation to replace the horrible failure that the democrats became (mildly put), but it continues even today.
Thank you for your honest fact-backed opinions/posts and remaining credible.
I am pretty certain that about 99% of all financial bloggers are about 99% clueless, 99% of the time, but if you take them as an aggregate, you can, as an individal get your neck ahead of the pack, by being 98% clueless, 98% of the time – that’s winning!
I Love Mish’s Neutrality on Presidents.
I would argue most online pundits, bloggers, and youtube personalities are audience captured grifters.
As you noted, Mish is one of a tiny handful that works really hard at annoying both sides of the political isle. That’s a good thing in my view.
It’s refreshing to have an administration whose knee-jerk response to any question of import is a lie. A mild recession is long overdue and would be beneficial in the long term.
Yes, long overdue but will it be mild? For the stock portfolio and wealth effect everyone wants mild. I have my doubts we will be so lucky.
In what way? If we’re refusing to cut socialism for the elderly or the military, we’ll be in an even worse situation post-recession, not better. None of our structural problems are being addressed.
Well, in my little home town: they took a bulldozer to the tent city. The homeless do not WANT free shelter because there are RULES! My cousin is on the City Council and they gave them SIX MONTHS to comply.
Most of the homeless are sick VETS. That part is sad. But, mixed into those 80 people are Gen-Xers, Z-ERS, and many are BOOMER sick wives whose hubbies left them in a lurch and they are sleeping in cars. THAT is sad to me.
BUT, to the last soul: THEY REFUSED to show up at 5pm to be signed in and most of them would not allow their DOGS to be impounded (a rule).
This just breaks my heart. We, as a civilized society (regardless of political leanings), must take care of the elderly. This responsibility starts with families and children caring for their parents. Local governments can provide necessary assistance (cash equivalents but no physical cash) to families that meet certain criteria (total income, number of dependents, etc.).
If they were in any way grateful, they’d euthanize those mutts themselves before even showing up!
MacArthur, Patton and Eisenhower in 1932.
Bulldozing the tents of sick veterans. Thank you for your service.
Why you sharing this shameful news?
You are a sadist.