On its own, the media can’t speak a recession into happening. They can say whatever they want, have financial “experts” say that a recession is looming, look at particular metrics that could be warning signs of a recession and predict one will definitely happen sometime soon, but they cannot speak a recession into happening if they don’t convince people.
And with recent news surrounding some of the most important metrics, consumer confidence and assessment of current conditions, it appears that the whole recession narrative is nothing more than that: a narrative.
From Bloomberg, who tend to write headlines that are negative to hurt Trump, they write: “Americans’ View of the Current Economy Is The Highest in 19 Years.”
“U.S. consumer confidence declined in August by less than forecast as Americans’ assessment of current conditions climbed to the highest level in almost 19 years, helped by a job market that remains robust,” writes Bloomberg.
While consumer confidence did dip down a little bit from 135.8 (the index used by The Conference Board) to 135.1, it is nowhere near what was forecasted, and what’s more, Americans’ views for the current economic situation is at 177.2, the highest it’s been since November of 2000.
“The reading shows hiring and income gains are keeping consumers upbeat and assuaging concerns about the economy’s prospects in light of slowing global growth, volatile financial markets and escalating U.S.-China trade tensions. The level of confidence could allow for sustained household spending that remains a mainstay of the economy. The share of respondents who say jobs are currently plentiful jumped to 51.2%, the highest since September 2000, while the share saying jobs are hard to get declined to the lowest in three months,” according to Bloomberg.
This is all important to note because these are some of the most important metrics in predicting a recession. As it stands, unemployment levels are at record-lows, wages are rising, taxes are lower, and there are more jobs than there are people available, which is always a good problem to have. But what matters more than these things is how people are feeling about the current economy.
It’s for this reason that the Left and the MSM have embarked on a mission to try and bring about a recession. Again, on their own, they can’t do that. But if people’s confidence drops significantly, that spells trouble for the economy. The media has been trying to get people to worry about the economy and fear a looming recession that wouldn’t come without those sorts of storylines being written. What the media is doing is trying to make a recession a self-fulfilling prophecy. The Trump economy is very good and stable, certainly growing, and that presents a problem for any Democrat candidate.
For the most part, people don’t care about what the narrative is about Trump. His approval numbers have been climbing and are pretty steady in large part due to how well the economy is doing. When people feel they are doing well, they care more about that than what Trump said on a particular day about a particular subject or person. If the economy is doing well, people don’t see much reason to change the status quo, so Trump’s prospects for reelection are only improved by a strong and growing economy.
This is a problem for the Left, and so, they are trying to scare people into thinking there is going to be a recession when plenty of indicators don’t show it. If they can convince people there will be a recession, there will be one. However, it doesn’t appear to be working so far, if these numbers are any indication.
Yes, consumer confidence dropped a bit, but less than was forecasted, so it’s probably a rather normal dip that happens all the time in economies (the line graphs aren’t exactly straight in any direction. You have to look at trends).
Bloomberg further writes: “U.S. consumers spent more in July than economists expected, the federal government said on Thursday, as retail sales rose 0.7% vs. the 0.3% estimated. Excluding automobile sales, a more volatile component, retail sales rose 1% - double what economists anticipated. Why it matters: Consumers were largely unfazed by the increasing economic uncertainty in July, defying other indicators that point to a global slowdown or recession. The data also comes as Walmart, one of the world’s biggest retailers, posted strong financials for its most recent quarter.”
Yeah, who exactly is saying there is “increasing economic uncertainty”? Look at these people, claiming there is such a thing all-the-while reporting that consumer confidence and perception are PRETTY GOOD RIGHT NOW, with a normal dip for consumer confidence at a time when families end their summer vacations and an economic perception that is the highest it’s been since the beginning of the new millennium.
In any case, this is, obviously, pretty good news not only for Trump but also for the economy and the people involved with it. No serious dip in consumer confidence means no likelihood for recession. No recession means people won’t be financially hurt, but it does mean Leftists and elitists like Bill Maher, Bill Kristol, etc. will be hurt because it won’t help them get rid of Trump. I just hope and pray these metrics will continue showing good news and continue improving, not only for the benefit of the President’s chances for reelection but also for the benefit of the American people.
To wish for a recession to occur like these Leftists are doing is to hope the American people will be hurt to the point they will point the finger at Trump. It helps no one but the heartless Left and it’s sickening.
1 Peter 5:8
“Be sober-minded; be watchful. Your adversary the devil prowls around like a roaring lion, seeking someone to devour.”
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