NY Times Attempts To Scaremonger On Recession Fears Despite Data

It’s so hilarious, and expected. You knew that a big media outlet would be required to do this at some point due to Trump Derangement Syndrome. But, it is also funny because the data and all the measures, such as consumer sentiment, rising food, housing, medical, auto, gas and energy prices were all skyrocketing, and outlets like the NY Times said you peasants were stupid, it wasn’t happening

Recession Warnings Are Everywhere, Except in the Data.

Americans are spending less at McDonald’s. Fewer container ships are expected at the Port of Los Angeles. Procter & Gamble is raising prices. Mattel is shifting production out of China.

Evidence for the economic impact of President Trump’s trade wars is everywhere — except, for the most part, in economic data itself. Consumer spending hasn’t fallen. Layoffs haven’t risen. Businesses haven’t stopped investing in equipment or buying supplies.

Could there be other reasons for fewer people spending at McDonald’s? No, sorry, right, it’s Trump’s Fault. Anyhow, you stupid peasants also need to ignore the data.

Economists say it is a matter of time before the impact of tariffs and the uncertainty that Mr. Trump’s on-again, off-again approach to trade policy has created begin to show up in the hard data. But until then, they are left sifting through crumbs of evidence that wouldn’t get a second glance in more normal times: customs revenue, hotel bookings in Las Vegas, freight shipments by truck and rail.

Crystal ball time. And the NY Times and other Trump deranged wishing for a recession. Heck, they’d be uber-happy with a depression.

“The problem is we don’t have much to hang onto at this point,” said Marc Giannoni, chief U.S. economist for Barclays. “We have to rely on anecdotes, on indicators that are nonconventional.”

We had more than anecdotes during the Bidenconomy: we had the actual rising prices. Which, in fairness, were not all his fault. Let’s start with China screwing around with coronaviruses. Anyhow, they have no actual data, just whiny Democrats on social media. And the Times writes a long piece on this, hoping to scare people. And get those who actually pay to read the Times to fearmonger because TDS.

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