Trump: Recession is Coming

Day 99: “Period of Transition”

Trump and Musk have spent the opening months of the new administration:

1) intentionally causing mass layoffs and resignations across the federal government, as well as with some sectors that rely on and contract with the federal government

2) destroying capacity and confidence in basic elements of a strong, stable economy, such as the rule of law, travel safety, health security, weather prediction, independent agencies, and the like

3) imposing trade, tariff and price chaos, with different tariffs coming and going on a regular basis, while attacking and creating tensions with our best allies and trading partners

5) imposing chaos on the workforce and economy with mass deportation

6) destabilizing global relations and the international rule of law more broadly

As you’d expect from all these intentional shocks to the system, more and more indicators are showing that an economic downturn is coming, if not already underway. Consumer confidence is down. Other forecasts are down. Prices are up.

And yesterday, Trump himself…like Musk before him…admitted that that tough times are on their way.

“Are you expecting a recession this year?” he was asked.

And without using the word recession, a man famous for lying incessantly could not bring himself to say no. Instead, he said that we should expect a “period of transition” and that “these things take time.”

Bottom line: if you were trying to create an economic meltdown, you could not be trying any harder than Trump is.

And Ruth Ben-Ghiat, an expert of totalitarian regimes, makes clear that this comes right out of the authoritarian playbook—because of the opportunities that a meltdown creates both politically and economically…for some: