Moody's Analytics chief economist Mark Zandi said the U.S. economy is "on the precipice of recession," citing indicators from last week's economic data releases.
Moody's Chief Economist Mark Zandi said recent data suggests the country is headed for challenging times.
-- Newsweek (@newsweek.com) Aug 5, 2025 at 9:42 AM
[image or embed]
@#12 ... the exuberance of North Korean state TV readers ...
I've seen them when I watch NHK news here.
Based upon what I have seen, your comment is not an exaggeration.
And CBS seems to have started to slow walk to such capitulation.
CBS, the home of Walter Cronkite.
Walter Cronkite
en.wikipedia.org
... Walter Leland Cronkite Jr. (November 4, 1916 " July 17, 2009) was an American broadcast journalist who served as anchorman for the CBS Evening News[1] from 1962 to 1981.
During the 1960s and 1970s, he was often cited as "the most trusted man in America" after being so named in an opinion poll.[2][3][4] ...
And now CBS seems to have dumped that honored history for more added money going to its wealthy owners.
Summers Says Trump Policies Are 'Scarily' Like Argentina's Peron
www.msn.com
... Former Treasury Secretary Lawrence Summers warned that President Donald Trump's policies risk putting the US on a similar path to that of postwar Argentina, which descended from being a relatively advanced developed nation into an economic laggard.
"Argentina went completely off track because of decisions made in a few years by an elected -- through a democracy -- leader who pursued autocracy rather than venerating democracy," Summers said on Bloomberg Television's Wall Street Week with David Westin. "And that should be a cautionary tale for everyone in the business community and everyone involved in our political process."
The late Juan Pern founded a populist movement in 1946 at a time when Argentina was grouped by some observers with the likes of Canada, Australia and New Zealand as a sophisticated economy with abundant natural resources.
Peronism championed import substitution and high tariffs in an effort to stoke Argentina's domestic industry. Trade protectionism was "the key policy" leading to its economic downfall, according to a 2023 assessment published by the think tank OMFIF.
"Over time, as the nationalism took hold, as economic success became more and more about who is friends with the government -- and less and less about who was really good at producing products and competing with foreigners -- Argentina's economic performance became calamitous," said Summers, a Harvard University professor and paid contributor to Bloomberg TV. "It's a model that, if you think about it, is scarily reminiscent of what we are doing right now." ...
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