Sputnik: We're discussing whether there is going to be a trade war, because we've had several experts on the show and some of them have said that a trade war is indeed looming. What's your take on this? Daniel Ujczo: I do think we are entering…into the summer of disruption in global trade, with the imposition of upwards of 25% tariffs on $50 billion worth of Chinese goods…I think we'll start seeing the impact on the ground of that here in the United States and around the world, as well as China's retaliation. CC0Scotiabank Has Gloomy Outlook for Canada, Mexico Amid Growing US ProtectionismI think the question is, as we emerge from whatever happens over the next several months and looking into 2019, will we have an outcome that has rebalanced trade, which is what the US objective is, or will we really be on the precipice of a recession? Sputnik: When we go back … [Read more...] about Trump Base Ready to Risk Recession for US to Win Global Leverage – Trade Lawyer
The chairman of the Federal Reserve, just four months into his term, this week could be in the uncomfortable situation of signaling that a recession is coming. The Fed seems all but certain to raise its target range on overnight rates by a quarter point for the second time this year on Wednesday. There is a good chance it lifts its estimate for total rate increases for 2018 from three to four. The... … [Read more...] about Will the Fed Set Off a Recession Alarm?
Paul Davidson USA TODAY Published 5:00 p.m. UTC Jun 11, 2018 The skies of the U.S. economy are clear and sunny, but many analysts see storm clouds on the horizon. By many measures, the economy is in its best shape since the Great Recession of 2007 to 2009. Employment hit an 18-year low of 3.8% in May. Average wage growth is widely expected to reach 3% by the end of the year. And the economy is projected to grow nearly 3% in 2018 for just the second time since the downturn. Yet the economic expansion is the second-longest in U.S. history, leading many economists to forecast a recession as early as next year. Half the economists surveyed last month by the National Association of Business Economics foresee a recession starting in late 2019 or in early 2020, and two-thirds are predicting a slump by the end of 2020. Why? Precisely because things seem to be going so well. The late stage of an economic expansion is most vulnerable to a popping of the bubble. It's typically … [Read more...] about The economy is humming. So why do experts foresee a recession in 2020?
Comedian Bill Maher has called for a recession, explaining that it’s a way to get rid of President Donald Trump, even if people are hurt. His comments brought public anger on himself. HBO’s 'Real Time' host Maher said on Friday that although the economy seems good at the moment, he feels that the bottom could “fall out at some point.” And that would be the end for the 45th president. “That’s my question — 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,” Maher said. “So please, bring on the recession. Sorry if that hurts people but it’s either root for a recession, or you lose your democracy.” This joke didn’t seem funny to thousands of people, who tweeted their anger on Saturday. In 2008 I lost my house and job because of the recession.— Tony Posnanski (@tonyposnanski) June 9, 2018 Hey Bill … [Read more...] about Public angry after comedian Maher says ‘bring on recession’ even ‘if it hurts people’ to oust Trump
The return of a critical piece of Brexit legislation to the Commons will be a "warm up" to the bigger battles faced by the government, MPs have warned. After being defeated 15 times in the House of Lords, the EU Withdrawal Bill is to be debated for a second time on 12 and 13 June. Among the number of amendments being discussed is Labour's demand that the UK negotiate "full access" to the Single Market after Brexit. But Conservative MPs played down suggestions there would be a rebellion. One said government had "reached out and sought compromises". Would-be mutineers are also planning to back down over fears that Theresa May's "perilous position" could force her out of Number 10. "The Prime Minister's position is weak and it may be that people think she has got enough problems without defeating her on the Kerr amendment [which calls for an "option" to remain within the customs union], which actually is pretty bloody tame," said one. "Certainly I'm keen to make sure that Theresa May's … [Read more...] about EU Withdrawal bill “a warm up” for Tory rebels as Trade and Customs bills set to return before summer recess