Wednesday, August 21, 2019

Rooting for a Recession???

The desperate GOP accuses Dems, media for craving an economic downturn.

You have to hand it to the Republicans for their ability to create excuses when things aren’t going their way.  President Trump, seeing his re-election prospects dimming by the findings from a FOX News poll,  has started to re-launch one of his favorite B.S. excuses: voter fraud.  It is a metaphysical certainty that should Trump go down to defeat in 2020, he will state without equivocation and without evidence that voter fraud turned the election against him. And Lord knows what else he might do or say.

Following the recent gargantuan stock market drop that included a striking 800-plus loss from the Dow, talk of the R-word (recession), started to surface.  The prospect of a recession in the not-too-distant future emanated from numerous well-respected economists. But because the media covered these alarm signals, the media as well as Democrats and other opponents of Donald Trump are being targeted by Trump supporters for as they see it, rooting for this to happen.  Why? A recession would hurt the chances for Trump’s reelection.  #hocopolitics

Simply put, a recession is an economic phenomenon when there is negative economic growth for two consecutive quarters.  Consumer confidence is down; consumer spending, which is the principal driver of the economy, is sharply reduced; the stock market heads south; the national debt heads north; and businesses tend to lay off workers . 

Coincidence or not, according to MarketWatch, every Republican president since Teddy Roosevelt has had to deal with a recession in his first term.  These are cyclical events that follow years of robust economic expansion. 

A recession or a significant downturn in the economy would eliminate the main rationale for Trump’s re-election. He has prided himself and has taken all the credit for what has been up to now--a strong economy.  Yet, as the New York Times explains,  Trump’s on again, off again trade war with China has exacerbated the uncertainty among business leaders and that has sparked the talk of a slow-down.

Knowing that, his supporters are accusing Democrats with the help of the liberal media of creating a fertile environment for a recession by rooting for it to happen. Here’s a sampling from Twitter:




To be fair, anti-Trump comedian Bill Maher has indicated on several occasions that he is rooting for a recession to hurt Trump in his re-election bid. But Maher is in the minority and he is unlikely to be severely impacted financially from such an outcome.

However, millions of other Americans will suffer.  A recession is not something to long for even if makes you feel better politically. It’s like hoping to catch the flu to avoid school or work. Recessions are caused by myriad domestic and global factors but cheering them on is not one of them.

The point is, the GOP strategy is to preemptively pin the blame of a possible recession on the Dems and the media to mitigate the political damage it would cause the president in his reelection chances.  For his part,  Trump has primarily pointed his fingers at the Chairman of the Federal Reserve for his monetary policies as the cause of a potential recession. 

From Trump's corruption, to incompetence, to racism, to whiplash reversals of policy statements through tweets, the Democrats have seemingly unlimited ways to make the case against Trump.  They shouldn't need a faltering economy to win in 2020, and they are certainly not wishing for one. 


No comments: