I’ve felt a recession was inevitable in the next year or so. We have been on such a long run, and the cyclical nature of macroeconomics makes this virtually unavoidable.
It’s likely not going to be pleasant for a great many people too. At a time where we should have been paying down the deficit we instead supercharged it. And the results of that decision will sting a lot of people.
Already the Trump economy is failing to even achieve the levels of the Obama economy as it was left to him. Some of that is not his fault though. Some of it is just being at basically no unemployment. We have not added as many jobs under Trump as we were adding under Obama. But again, full employment. GDP has not achieved or surpassed Obama’s best GDP years. Even with the massive spending by Government and the artificial inflation of the corporate tax cuts, showing they did not have the desired effect.
The trade wars are beginning to impact both the domestic economy and the global economy in ways that will only serve to hasten the coming recession.
Some of this could have been avoided with competent leadership from an experienced and intelligent Executive. Instead, we ended up with an idiot of a man who has no interest in being informed, lacks intellectual curiosity, has failed to surround himself with the best and the brightest, instead with sycophants and people outside of their depth.
Things are going to get painful for our nation as a result of these horrible decisions. And that really stinks. I don’t want to see Americans suffer, unlike some of the Trump supporters who seem to relish in the pain of who they call their enemy. Which is fellow Americans.
Whoever is POTUS come January 2021 is going to be facing a mess of a situation. It will either be Trump, and help us all if so, because I doubt even his most loyal cultists believe he is capable of navigating a massive crisis. Or it will be someone else with the daunting task of trying to salvage whatever can be salvaged out of the wreckage left behind by this disaster of an administration.