News Story of the Day: A new survey of economists projects that the odds of a recession striking the United States economy rose to 35 percent within the next 12 months, up from the previous forecast of 31 percent.
Ostensibly, global trade tensions might fuel economic uncertainty.
The experts say that U.S. growth will average 2.3 percent in 2019; expansion will slow to a 1.8 percent annualized pace in the third quarter.
For the most part, economists think the next recession will take place in 2021, so President Donald Trump might hope to lose the 2020 race to preserve any legacy he wishes to leave behind.
Will a recession? The Federal Reserve is maintaining an accommodative monetary policy, a mix of money supply expansion and interest rate cuts. But the trade war could lead to major blows to not just the United States, but the rest of the world, too.
Chart of the Day: Are you addicted to social media? Chances are, yes. But you’re not alone. Social media addiction is becoming an American epidemic, according to this interesting chart from The Economist:
Illustration of the Day: The problem with the Democrats is that they are not consistent on the current economy. On one hand, they contend that the Trump economy is not strong at all. On the other, they say that all the gains Trump is enjoying are because of former President Barack Obama.
Quote of the Day: Diversity is a word that sends a thrill down the leg of leftists. Well, as long as they are not experiencing this diversity unless they are patronizing an Indian restaurant. Economist Thomas Sowell has this great quote:
“Can you cite one speck of hard evidence of the benefits of “diversity” that we have heard gushed about for years? Evidence of its harm can be seen — written in blood — from Iraq to India, from Serbia to Sudan, from Fiji to the Philippines. It is scary how easily so many people can be brainwashed by sheer repetition of a word.”
Tweet of the Day: Did you see that ridiculous image from a reporter who accidentally stumbled upon Sen. Elizabeth Warren (D-MA) buying lemonade from a couple of girls? Well, this is what really happened:
“Quick! Somebody call the authorities. There are some girls who are selling lemonade without a government license. You better get here fast before they sell any more lemonade that has not been tested by a regulatory body. Won’t somebody please think of the children?” pic.twitter.com/HaEL7zmVhF
— Liberty Nation (@libertynation) August 8, 2019
Video of the Day: If you want another example of how the Counterfeit News Network is just a left-leaning propaganda outfit, then take a gander at its latest gun control town hall. While it wasn’t like the Two Minutes of Hate a couple of years ago, it was still pretty cringeworthy.
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