(TNS) Earlier this summer, a slew of economic ‘geniuses’ were forecasting a recession heading into the end of 2019 and into 2020.
Listening to them, you could almost hear the desperation in their voices — almost like they were trying toÂ talk the economy into recession.
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Their predictions came on the heels of one positive financial and jobs report after another from the Trump administration, whose pro-growth policies have unleashed an economic juggernaut our country has not experienced since the heady days Â immediately following World War II.
CNNÂ speculatedÂ in August that “the trigger could be a number of factors –Â Trump’s trade policy, a weakening global economy, the waning effects of the 2017 tax cuts, or even a calamitous risk of deflation.”
In January Raw Story ran this headline: “Recession fears grip Trumpâ€™s economy â€” and even a majority of Republicans are worried.”
In June CNN/Business did a survey of economists:
America’s business leaders are growing more worried that the United States will enter a recession by the end of 2020. Their primary fear:Â protectionist trade policy.
That is the topline finding of a report released Monday by the National Association for Business Economics. TheÂ survey, based on responses by 53 economists, is a leading barometer of where the US business community thinks the economy is headed.
Even Forbes jumped on the bandwagon in December 2018.
Well…how’d all those economic doom-and-gloom predictions turn out?
Even the Washington Post has had to admit that the gosh-darned economy (under the current president) just keeps on keeping on:
The U.S. economy is heading into 2020 at a pace of steady, sustained growth after a series of interest rate cuts and the apparent resolution of two trade-related threats mostly eliminated the risk of a recession.
This marks a dramatic turnaround in momentum since August, when some forecastersÂ predicted a 50 percent chanceÂ of a downturn starting by the end of next year.
Many economists credit the Federal Reserveâ€™sÂ recent interest rate reductionsÂ and the slightly improved trade picture for propelling the stock market to fresh record highs and causing forecasters to bump up their predictions for how long the economy can keep growing and adding jobs without stumbling.Â
And of course, after Democrats were left with no choice (by their constituents) to sign onto the president’s renegotiated NAFTA trade pact with Mexico and Canada, known as USMCA, the economy is only going to grow further.
All of which helps explain, in part, why Democrats are in such a tizzy to remove this president from office any way they can.
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