There has been a great deal of coverage in the news lately about the upcoming recession. Most Americans cannot define the word. It brings a mental image of depression, job loss, breadlines and great doom and gloom. A recession is merely two quarters of negative economic growth. That's it. Period. Our economy has been in an expansive phase under the current administration. We have full employment, and RECORD low unemployment for blacks and Hispanics. The business 'cycle' involves ups and downs. Expansions ALWAYS end. As do contractions. The economy is healthy. The fundamentals are good. Trade talks will cause some blips in some sectors, but will result in much better deals for America.
The out-of-power party will have a difficult time winning with a great economy. For them to have a chance, they have to try to 'talk down' the economy. Playing on the economic ignorance of the American public, the news throughout the upcoming election season will be nothing but recession, recession, recession, until the media talks down the expectations of the business world.
The recent breathless coverage of the inverted yield curve by every media outlet had the intended effect of a one day crash of the stock market. This shows the power of the media. Kind of a test, if you will, of how business news can be manipulated. It was touted that because of this, one third of economists predicted a recession by 2021. It was not stated that two thirds did not feel that way. By the way, economists are usually wrong.
The real problem that no one wants to address is our $22 TRILLION debt. Neither party wants to stop spending. We currently have RECORD tax revenues month after month, yet the deficit keeps growing.