Former Department of Labor economist Jesse Rothstein posted on Bluesky that he believes Trump's drastic downsizing of the government will cause economic pain for Americans. "It seems almost unavoidable at this point," Rothstein wrote, "that we are headed for a deep, deep recession."
After this tweet went viral, Jesse and I talked about the possibility of a recession for my newsletter. You can also listen to it on your favorite podcast app! Just search for The Cross Section. paulwaldman.substack.com/p/is-the-nex ...
-- Paul Waldman (@paulwaldman.bsky.social) February 20, 2025 at 12:36 PM
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"the March employment report (to be released April 4) seems certain to show bigger job losses than any month ever outside of a few in 2008-9 and 2020.."
The uncertain is "certain", but for some reason he left out 2024 Had Most Job Cuts In 15 Years With One Exception
Job cuts from U.S.-based companies were the highest they've been in 15 years in 2024"with the exception of 2020 job losses spurred by the COVID pandemic"as cuts jumped 5.5% over 2023, with experts blaming rapid technological advancement and shifting economic conditions.
www.forbes.com
@#13 ... Musk said we're going to have to suffer. ...
As did Pres Trump when he backed away from his campaign promise to lower prices on day one.
With High Prices Persisting, Trump Tempers Tone on Slaying Inflation (Februaru 12, 2025)
www.nytimes.com
... President Trump pledged to lower costs on "Day 1" as a candidate. His administration now acknowledges it will take more time. ...
So... yet more lies from Pres Trump?
We are witnessing a wholy self inflicted destruction that could easily be avoided
------- magat scum
It was. Not even arguable. Unless your'e a moron. Are you a moron?
www.bls.gov
idiot.
Now you get to watch what happens under Trump.
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