- Members of the media and left-wing politicians have been talking about the possibility of a recession long before experts started discussing warning signs.
- Some well-respected economists, including former President Barack Obama’s Federal Reserve Chair Janet Yellen, warned that the recession indicators of yesterday may not apply to today.
- Some on the left have rooted for a recession to get President Donald Trump out of office.
Members of the media and left-wing politicians have been talking about the possibility of a recession long before experts started discussing warning signs like the Dow’s 800-point drop Wednesday, and the reason why could have to do with President Donald Trump’s reelection.
The most egregious example of connecting a recession with Trump failing to secure a second term came from comedian Bill Maher more than a year ago.
“I feel like the bottom has to fall out at some point, and, by the way, I’m hoping for it because I think one way you get rid of Trump is a crashing economy. So please, bring on the recession. Sorry if that hurts people, but it’s either root for a recession or you lose your democracy,” Maher said on HBO’s “Real Time” on June 8, 2018. (RELATED: Trump Jumps On Reports Of Israel Banning Reps. Omar And Tlaib: ‘They Hate … All Jewish People’)
Politicians including Rep. Ted Lieu of California and Sen. Elizabeth Warren of Massachusetts, both Democrats, warned of a looming recession after the Dow’s bad day Wednesday.
“Why did the Dow drop over 700 points this morning [and] why is #TrumpRecession trending? Because the yield on the 10-year Treasury Note broke below the 2-year rate. This inverted yield curve has historically signaled an approaching recession,” Lieu wrote Wednesday on Twitter.
His tweet came the same week that CNN ran headlines like this one on an opinion piece: “A global recession may be coming a lot sooner than anyone thought.”