Patterico's Pontifications

8/15/2019

It’s the Economy and Other Headlines

Filed under: Economics — DRJ @ 7:00 am



[Headlines from DRJ]

This week:

Trump delayed tariffs in part to avoid a recession during 2020 election, says US Chamber of Commerce president Donohue.

Yesterday:

Warnings of economic crisis as Treasury yields invert for the first time since the Great Recession sending Dow tumbling more than 600 points.

At the close yesterday:

US MARKETS: Dow tanks 800 points in worst day of 2019 .

— DRJ

15 Responses to “It’s the Economy and Other Headlines”

  1. Q: Who will TrumpWorld blame his recession on?

    Dave (1bb933)

  2. Trump world will blame the recession on the econmic cycle. We’re due for a slow down. No expansion goes on fovever.

    rcocean (1a839e)

  3. Q: Who will TrumpWorld blame his recession on?

    I’m definitely not in the TrumpWorld, but I don’t blame Trump for any coming recession. As rcocean pointed out, it’s just the economic cycle. Some expansions last longer than others, but none of them last forever.

    Chuck Bartowski (bc1c71)

  4. “The economic cycle” is a description, not an explanation, of what the economy does.

    It’s like saying the Patriots won’t always be one of the top teams in the NFL, because “no team stays on top forever”. But the Patriots descent into mediocrity or worse (when it happens) will be attributable to specific causes (Brady retiring, departure of this or that other key player, other teams raising their game, etc).

    Likewise, the next recession won’t just happen because it’s time for one. There will be specific economic causes, and one of them will surely be Trump’s destructive mismanagement of trade.

    Dave (1bb933)

  5. Heartache: Trump appears to back off plans to commute Blagojevich’s sentence after pushback from Illinois Republicans

    Fredo’s letting himself be pushed around by Illinois Republicans now? What are there, like, three of them?

    President Donald Trump was on the cusp of commuting former Illinois Gov. Rod Blagojevich’s sentence late last week, multiple sources said. But then Republican members of Illinois’ congressional delegation began flooding the White House with calls.
    Now, Trump appears to have backed off his plans to commute Blagojevich’s sentence.
    Several Republican lawmakers called acting White House chief of staff Mick Mulvaney and White House counsel Pat Cipollone, the sources told CNN, and the Republican members of Illinois congressional delegation issued a joint statement opposing the move.

    At least two of them, Reps. Darin LaHood and Mike Bost, made their case directly to the President on Thursday night, urging him not to go forward. They laid out the litany of crimes Blagojevich committed while in office and argued it would send the wrong message to voters about corruption by public officials.

    Trump’s response: “I wish I had the perspective before,” according to Bost, who served on the Illinois House’s impeachment committee to remove Blagojevich from office in 2009.

    Trump went on to say that he’d learned from this incident that it’s a good idea to consult people who have some knowledge about a situation before shooting his mouth off about it.

    (That last part was a joke)

    Dave (1bb933)

  6. I haven’t heard anything about the market today.

    AZ Bob (885937)

  7. It’s up a bit today…

    Colonel Haiku (2601c0)

  8. 4 and 5… it’s the bile that quite literally keeps this fellow afloat.

    Colonel Haiku (2601c0)

  9. 7… the Dow, at least.

    Colonel Haiku (2601c0)

  10. Would like to see a post specific to this:

    To Save a Bad Gun Law, Democratic Senators Threaten the Supreme Court

    I just finished reading of the most astonishing legal briefs I’ve ever read. It is easily the most malicious Supreme Court brief I’ve ever seen. And it comes not from an angry or unhinged private citizen, but from five Democratic members of the United States Senate. Without any foundation, they directly attack the integrity of the five Republican appointees and conclude with a threat to take political action against the Court if it doesn’t rule the way they demand.”

    https://www.nationalreview.com/2019/08/democratic-senators-threaten-supreme-court/amp/?__twitter_impression=true

    harkin (58d012)

  11. signs of deflation, markets are reacting, Fed not so fast.

    Colonel Haiku (2601c0)

  12. Other ‘head’lines:

    HAPPY 50TH BIRTHDAY, WOODSTOCK.

    The music made the ‘trip;’ if you were 18 then droppin’ acid, you’re feelin’ groovy now at 68– poppin’ Advil.

    DCSCA (797bc0)

  13. 4 and 5… it’s the bile that quite literally keeps this fellow afloat.

    Thanks for contributing to the discussion!

    Dave (1bb933)

  14. One of our PhD students was murdered in a drive-by shooting last night in LA:

    Two childhood friends were killed and a neighbor was wounded in a drive-by shooting in the driveway of a South Los Angeles home.

    A drive-by shooting at about 7 p.m. Wednesday in the 1100 block of East 68th Street killed two men. The father of 23-year-old Jose Flores Velasquez identified his son as one of the men killed in the shooting. Ramon Flores said his son had come to South LA to bring gifts to a longtime friend who was about to have a baby.

    Velasquez, who had dreamed of working for NASA and had already presented some of his research to Congress, was currently a PhD candidate studying math and astronomy at UC Irvine, Flores said. A “UC Irvine” sticker was still visible in the rear window of a silver VW Golf, underneath the jagged holes left by gunfire. Velasquez was declared dead at the scene of the shooting.

    Flores said his son had spent time studying at Harvard, Cal Poly Pomona and other universities in New York and Chicago.

    “Very good student,” Flores said, in a grief-choked voice. “No more.”

    Dave (1bb933)

  15. Your quite a trooper, Dave. To point out daily what shciff holes a large number of Americans are and you have not left for Canada. Well done.

    mg (8cbc69)


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