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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 Daily Picks
"China’s Hydrogen economy Is coming: The world’s electric-vehicle king is seeking leadership in fuel cells, too. Investors are probably right to be excited."
"It would be the height of naivete to believe the book is closed. Democrats on Capitol Hill are not just going to take the attorney general's conclusions and move on to new things."
"Netanyahu has brazenly allied himself with Trump’s Administration and his family (including the cryptic peace negotiator, Jared Kushner, whose family he has known for years), as well as with the Republican Party and Republican funders..."
"Us is stranger than Get Out, with deeper philosophical undercurrents flowing through it. The rabbit that greets you at the movie’s start is an invitation. Will you follow, like Alice in her Wonderland?"
"Democrats and Republicans seem to have irreconcilable views on economics, but on one point they agree: Small business is better than big."
"Sanctuary, a digital astrology start-up backed by $1.5 million in venture capital, made the considered decision to launch its service on Wednesday — the dawn of the new astrological year, when Pisces gives way to Aries in the astral cycle."
"It is a Vessel for the depths of architectural cynicism, of form without ideology and without substance: an architectural practice that puts the commodifiable image above all else, including the social good..."
"Apartment Therapy posted a photo to Instagram of a bookshelf with the spines facing inward, and the dramatic response — dozens of users denouncing the trend as anti-intellectual, even comparing it to book-burning ..."
"Perhaps it is time to add parenting to the growing list of “replacement religions” competing for our attention and currency these days, a list that already includes workism and politics."
"Only a fraction of the world’s yeast species have been discovered. The ones still out there could revolutionize health care, green energy, and beer."
"We’ve recently fixated on expunging “fake news” but the medical world also has its charlatans. The snake-oil salespeople, masquerading as health professionals, are naturopaths."
"...should we continue to teach thinkers like Kant, Voltaire and Hume without mention of the harmful prejudices they helped legitimize?"