Economy
Related: About this forumElizabeth Warren's 'Economic Crash' call spotlights Democrats' line of attack on Trump
Democratic presidential hopeful Elizabeth Warren highlighted burgeoning debt levels and recent declines in manufacturing as factors making the U.S. economy vulnerable to a downturn.
The point previews a line of attack Donald Trumps opponents will use to pierce the aura of a record-long expansion and half-century low in unemployment.
In a blog post Monday titled The Coming Economic Crash - And How to Stop It, the Massachusetts senator said she sees serious warning signs similar to the run-up to the 2008 financial crisis.
In addition to the economic weaknesses, Warren cited the inverted Treasury-yield curve and a poll of analysts as backing the idea that a recession is likely on the way.
Warren flagged as dangerous increases in household debt from student loans, credit cards and auto loans, along with rises in riskier corporate debt.
The senator also highlighted last weeks data from the Federal Reserve showing manufacturing has contracted in the U.S. for the past two quarters, despite Trumps promises of a manufacturing renaissance."
At: https://www.bloomberg.com/news/articles/2019-07-22/warren-economic-crash-call-spotlights-line-of-attack-on-trump
Sen. Elizabeth Warren has reaped criticism from the business press for her recent warning that current policy could soon lead to another financial crash.
Because, after all, when have GOP policies ever crashed in the past.
progree
(10,911 posts)In its 29 months, the Trump economy has created 810,000 FEWER jobs than Obama's last 29 months
and the pace of job creation has markedly slowed in 2019 ...
Summary: Average monthly net new jobs created
221,000 <- Obama's last 29 months
194,000 <- Trump's 29 months (February 2017 through June 2019)
172,000 <- 2019 so far (January through June)
144,000 <- Last 5 months (February 2019 through June 2019)
Most of this is from a Forbes contributor. It also checks out with the Bureau of Labor Statistics numbers
details: https://www.democraticunderground.com/111685907
If someone says that, well gee, my boss can't find anyone to fill the open positions, the unemployment rate is at 50 year lows, blah blah, ask them why, if the labor market is so "tight", why the prime-age (25-54) labor force participation rate is down from pre-Great Recession average levels, going decades back -
https://www.democraticunderground.com/?com=view_post&forum=1002&pid=12256909
As for stocks, looking at the S&P 500 it's 2985 at the close today (July 22). That's up only 3.9% from the January 26, 2018 close of 2873.
sandensea
(21,650 posts)They should wear a t-shirt that says: I gave Big Business a trillion in tax cuts - and all I got what this lousy Trump slump.