Drudge Retort: The Other Side of the News
Wednesday, August 21, 2019

Wealthy buyers are pulling back from some of the most expensive housing markets in the U.S., the latest sign that sky-high prices and fears of a recession are weighing on a key sector of the economy.

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Trump team braces GOP donors for a potential moderate and short' recession
www.politico.com

...In public, President Donald Trump and top White House officials keep extolling the strength of the U.S. economy. In private, they're increasingly worrying about a global economic slowdown triggering a U.S. recession " and weighing options to shore up the economy ahead of an election year.

At a fundraising luncheon this week in Jackson, Wyo., headlined by both Jared Kushner and Ivanka Trump, acting White House chief of staff Mick Mulvaney acknowledged the risks to the GOP elite behind closed doors. If the U.S. were to face a recession, it would be "moderate and short," Mulvaney told roughly 50 donors, according to an attendee....


Meanwhile, I saw Pres Trump on TV saying that any recession that might occur would only be a couple of months long. I'm not sure Pres Trump even knows what a recession is. The usual definition is two consecutive quarters of negative economic growth. So, at least six months. The two months that Pres Trump is saying a recession might last would not even be long enough to make it a real recession.

I also found it interesting that Pres Trump has moved from saying there would be no recession, that it is all a figment of the media's imagination, to if there is a recession it will be a short one.

#1 | Posted by LampLighter at 2019-08-21 08:58 AM | Reply | Newsworthy 1

Target, Like Walmart, Proves Main Engine of Economy Is Humming
www.bloomberg.com

...Recession fears may be mounting in certain parts of the U.S. economy, but Walmart Inc. and Target Corp. are signaling that the all-important American consumer is doing just fine....


#2 | Posted by LampLighter at 2019-08-21 09:32 AM | Reply | Newsworthy 1

"...Recession fears may be mounting in certain parts of the U.S. economy, but Walmart Inc. and Target Corp. are signaling that the all-important American consumer is doing just fine...."

Don't tell that to Macy's, Penney's and Sears.

#3 | Posted by Gal_Tuesday at 2019-08-21 09:37 AM | Reply | Newsworthy 2

@#3 ... Don't tell that to Macy's, Penney's and Sears. ...

Yeah, the retail rally seems to be a bit selective.

From the article cited in #2

...Still, some retailers are floundering. Traditional department-store chains like Macy's and J.C. Penney turned in a dour set of results, and the next round of tariffs on Chinese goods -- poised to hit nearly all apparel -- could send them reeling even more. A levy on department-store staples like handbags already went into effect, with the vast majority of other products slated for hikes later this year, even after a partial reprieve....

The bottom line is that consumers are still spending, but they're getting more choosy and cautious, which is why even discounter TJX Cos. posted a rare stumble after failing to freshen up the assortment at its HomeGoods chain, forcing it to discount items. ...


#4 | Posted by LampLighter at 2019-08-21 10:06 AM | Reply | Newsworthy 1

The economy's doing fine ... as long as you don't the humongous piles of debt.

#5 | Posted by Ray at 2019-08-21 05:34 PM | Reply

This thread is lacking

The "economic majors" are not enlightening us with the quick copy/paste of some National Review and heritage foundation fiction

And no one has yet to inform us on the conveniently timed phone call they just received from someone in a high position who knows all about this, and it just so happens is really no big deal

Embarrassing

#6 | Posted by ChiefTutMoses at 2019-08-21 06:43 PM | Reply

Embarrassing
#6 | POSTED BY CHIEFTUTMOSES

...aptly describes your attempt at straw man commentary.

#7 | Posted by SheepleSchism at 2019-08-22 12:15 AM | Reply | Newsworthy 1

From another thread:

"The Trump administration announced Wednesday that the U.S. economy actually created about 500,000 fewer jobs over 2018 and early 2019 than was initially reported, reportedly the largest revision of economic numbers in a decade."

The cheerleaders can say whatever they want but our economy is not as strong as they would like you to believe.

#8 | Posted by danni at 2019-08-22 10:03 AM | Reply

Target, Like Walmart, Proves Main Engine of Economy Is Humming
www.bloomberg.com
...Recession fears may be mounting in certain parts of the U.S. economy, but Walmart Inc. and Target Corp. are signaling that the all-important American consumer is doing just fine....

#2 | POSTED BY LAMPLIGHTER

Great.

But...Consumer Spending is the last sign when it comes to a looming recession.

The early signs are pointing to recession. And now Trump is admitting they lied about job numbers? Damn...

#9 | Posted by Sycophant at 2019-08-22 10:39 AM | Reply | Newsworthy 1

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