The King's actions in recent weeks will cause a recession later this year. Why? Individuals and firms are suddenly very hesitant to spend and invest, because of the tremendous amount of uncertainty which has been dropped into the minds of participants in the US economy. Those who feel less certain about future prospects usually react by putting off expenditures, hiring and business investment. All those laid off federal workers may find it harder to get jobs, not because of skills but because those would would otherwise hire have much less confidence in the future. Those who would buy a truck, a machine tool, a software package or plane tickets for business travel start to think the same way. And down we go. Thanks, Dotard...