President Donald Trump speaks with reporters before boarding Air Force One at Morristown Municipal Airport in Morristown, N.J., Sunday, Aug. 18, 2019. (AP Photo/Patrick Semansky)What recession? President Trump doesn’t see a recession. Larry Kudlow, Trump’s top economic adviser, says he doesn’t see a recession. What recession?
Never mind last week’s sharp drop in financial markets. Never mind consumer confidence dropping 6.4% since July – yeah, that was a short 20 days ago. Never mind the trade war that was supposed to be fun and easy to win. Farmers aren’t having too much fun. And neither are shoppers in America’s grocery and big-box stores.
Oh, and never mind that five of the world’s biggest economies are at risk of a recession now, too. And the week of whiplash on Wall Street spiked fears the U.S. economy could be dragged down as well.
Even Trump over the weekend conceded that economies across the world are “not doing well like we are doing, the rest of the world, if you look at Germany, if you look at European Union, frankly, look at the UK, look at a lot of the countries, they are not doing well.” But he stuck to this guns that “most economists actually say we are not going to have a recession.”
“We are doing tremendously well,” Trump told reporters before boarding Air Force One to return to Washington. “Consumers are rich, tax cut loaded up with money. I saw Walmart numbers through the roof, better than any poll.”