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“A tumbling stock market is not a recession. A slowing economy is not a recession. And a recession is not a depression. These are all things Democrats and NeverEverTrumpers everywhere should keep in mind as they envision a nasty economic downturn driving President Trump from the White House.
Sure, a headline like “Stock market on pace for worst December since Great Depression” provides a wonderful opportunity for a bit of cathartic dunking on Trump. It was only last October when the president was still touting a higher Dow Jones Industrial Average and S&P 500 as proof Trumponomics was working beautifully. On Oct. 3, Trump tweeted: “The Stock Market just reached an All-Time High during my Administration for the 102nd Time, a presidential record, by far, for less than two years. So much potential as Trade and Military Deals are completed.” Since then, the Dow has been down as much as 12 percent.
Of course Trump has a self-serving explanation for the decline. Several, actually. Just a refreshing “pause” after a big run. But maybe it’s also pro-Trump investors repulsed by “presidential harassment” from Democrats who hate all the winning. And for sure, Trump argues, the Federal Reserve is badly screwing things up with its “crazy” interest rate hikes. Indeed, on Twitter, Trump has twice attacked the Jerome Powell-led Fed leading up to its December policy meeting, which is likely to result in an announcement today of another rate hike. Or, as Trump calls it, “yet another mistake.””
JJ Editor's Picks
"Not even what one might think of as the most basic tenet of any religion, a belief in the existence of God, is a prerequisite: Agnosticism is a key principle of at least one major school of Hindu philosophy."
"The presidency of any particular incumbent is relatively short... but the precedential consequences of impeaching a president without complying with the specific provisions of the Constitution “as it was written” are enduring."
"After news that a judge allegedly provided sexual favors to Bar Association president Efi Nave in exchange for her appointment, several politicians said in their responses that the Judicial Selection Committee needed to be the “Holy of Holies.”"
"Two new documentaries take on Billy McFarland and his disastrous music festival... the secret villain of this story all along: the subtle menace of social media marketing."
"Eating out, ordering in. Throw in a bagel here, a coffee there, and it all adds up. "It's definitely a challenge for people my age to save on food.""
"Popular music is shrinking. From 2013 to 2018, the average song on the Billboard Hot 100 fell from 3 minutes and 50 seconds to about 3 minutes and 30 seconds. "
"Here in the good old U.S. of A, the third annual Women's March planned for Jan. 19 is in serious trouble, thanks to irreconcilable political disagreements."
"Nature, however, with its endless cycles of death and rebirth, fascinated her. Walking in the woods, she developed a method that has become the hallmark of her poetry, taking notice simply of whatever happens to present itself."
"Modern parents haven’t stopped playing favorites; they’ve just stopped doing it openly. Though few parents today will admit they have a favorite child, studies indicate that about two-thirds of parents do."
"The first science-based diet that tackles both the poor food eaten by billions of people and averts global environmental catastrophe has been devised."
"Sphen and Magic looked like they would make great, diligent, careful egg-warming parents. They made the biggest nest, and they sat on it constantly."
"How YMHAs, followed by synagogue-centers, and finally JCCs have tried—in different ways—to balance Judaism and Jewishness, by bringing Jews together in intellectual, spiritual, and physical pursuits"