Dow plunges 600 points after bond market flashes a recession warning When Trump was elected, I said that the only thing that would turn his base against him was a full on recession. Today I don't think that would even do it. Most of his base are either retired living off their pensions, SS, fixed incomes with no skin in the game, so they don't care if the US economy tanks. Trump is nothing more than entertainment value to them . Then there's those that may be working but they have no retirement investment savings. They've no idea what a 401k is and you cant lose what you don't have. Under Obama my IRA grew exponentially. The economy was even keeled and smooth. Since senor' clown car has been in office, my 401k value is where it was 28 months ago. This asshole playing president is not good for the working man and his financial future.
I agree that the die-hard Trump specific demographics that you describe will never come around to reality. Fear & hate are dominate hierarchical psychological motivators, and easily over-ride an individual's sense and sensibilities.
But I fully & strongly believe that if we go into a Trump recession, as we did with the Bush recession, we will see a Democrat behind the Resolute Desk come JAN '21. The hardcore Trumpers won't care, but the rest of the country will.
And you are right, and I've been preaching this for what seems forever: Trump took a steady growing economy & markets, rode it for another year, while needlessly juicing it with a tax-cut sugar high. But after the first year, his asinine economic policies came to bear causing no growth in the markets for nearly two years, and now we've reverted to a falling GDP & economy.
But the worse problem now, one in which Trump contributed greatly that he & the Fed may not be able to arrest, is the falling
global economy. Trade wars & currency wars, when involving the world's two largest economic superpowers, have global consequence.
On top of Trump's inherent domestic and economic problems, his future is now tied to Xi Jingping's actions & desires. Trump capitulated in his trade war yesterday, showing Xi that he is at his limit of economic pain. It's going to be interesting to see how Xi reacts, but he (Xi) is clearly in the driver's seat.
The inverted yield curve is thought to be a highly reliable indicator. But nothing is absolute, each economic environment has its own specific peculiarities, and it remains to be seen if the curve continues to invert, or whether it will revert back positive.
But it is starting to look like we are continuing the usual historical pattern of a Dems handing the Repubs a great economy, the Repubs crashing it, and the Dems then inheriting the Repub's mess & straightening it out, only to have the pattern repeat again when the Repubs come back to power.
Why anyone would put Republicans in charge of the economy (or anything else!), is beyond me.
(Geez, just checked - Dow 700+ pts down)
When you make comments such as this:
