Economic Recession

88 Months of Job Growth, All Time Record, So Future Is Economic Recession, Just A Question Of When And How Severe

America has experienced 88 months of job growth and an improving economy, an all time record, so the future is economic recession, with the only question being when and how severe it will be.

It is like gravity, in that what goes up must come down, and Donald Trump has been bragging as if he created the economic growth, when it was the contribution of Barack Obama, who was overseer over the greatest economic recovery in American history, and without war.

Franklin D. Roosevelt is credited with helping to solve the Great Depression in the 1930s, but it took until war spending for World War II for the recovery to be totally successful, while Obama avoided a major war, and created the economic conditions that now Trump is making it as if he did it all by himself in the past year.

Trump came into office with a great economy, while Obama came in at the worst time since Herbert Hoover, and had to deal with what we call the Great Recession.

As I write this, the stock market has had its two worst days in two years, losing 666 points on Friday, and 1175 on Monday, making for the greatest two day loss in stock market history. The market actually went down 1579 before it revived to 1175 by the close of trading. So it went down in the past two days by 1840, a total of seven percent of the stock market.

It will be interesting to see how Donald Trump reacts to this, since he loves to give himself credit for the improvement in the stock market, even though it was steadily rising under Barack Obama, who he will never give credit to on anything.

if the economy falters, Trump will lose a lot of his supporters, and his public opinion polls will collapse into the 20s instead of the low to mid 30s where it is right now.

The States And The Economy: Calamity Ahead! :(

As conservatives and Tea Party activists are applauding the Republican takeover of the House, many new Republican governorships, and a gain in seats in the Senate, the American people are apparently unaware of the economic calamity that faces us in the next two years! πŸ™

The emphasis is on cutting taxes in a totally irresponsible way, which will increase the national debt! But of course, the GOP answer is to cut spending as well, which will mean MASSIVE cuts in public jobs in the states ( teachers, firefighters, police officers, prison guards, librarians, park workers, other state and local government agencies), adding to the unemployment rates!

It also means a tremendous drop in public services–larger number of students in each classroom, fewer firefighters to respond to fires, fewer cops to fight crime, fewer staff for prisons, fewer hours of libraries and parks, fewer locations and hours for state and local government services, which will all worsen the quality of life for all Americans! πŸ™

All of the states will have massive deficits, with the larger states in true crisis mode–California, Texas, New York, Florida, Illinois, Pennsylvania, Ohio, Michigan, New Jersey–and with all of the above states run by Republican governors, except California, New York and Illinois!

No stimulus money will be coming from the federal government, as the GOP will have the “power of the purse”, so we will see massive deprivation and poverty, and we will be on the road to far worse conditions than we are in at the moment! πŸ™

This harsh, hard line approach in the states and the federal government will bring millions more unemployment and home foreclosures, and the potential is there for the Great Depression of the 1930s to be perceived as minor, compared to what might be happening over the next two years! πŸ™

Also, the danger exists that if there is great human suffering and deprivation that we could see the horrors of the breakdown of law and order, and see bloodshed in the streets of America!

This is a human crisis of major proportions, and it is hard to see “the light at the end of the tunnel”, a term from the Vietnam War era! πŸ™