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The titles have rolled. The prediction in Q1 last year was specifically that by this time, the US would be in a deep recession due to tariffs. I can understand
by skippyboxedhero 9mo ago
The titles have rolled. The prediction in Q1 last year was specifically that by this time, the US would be in a deep recession due to tariffs.
I can understand that most people do not actually stay with these forecasts. The story hits NBC, you are completely outraged about this forecast made by these economists, the thing never happens, NBC has moved onto next disaster coming round the corner, next outrage.
If you work in markets, you are confronted with the relentless inability of talking head economists to just say mildly rational things. It is constant, almost every year now we have this latest economic disaster by economists in the periphery of political parties...no-one pays attention to these people, they have tenure, they make money from cashing in their political contacts not through actual correct forecasts (and yes, they always say that the thing they predicted will definitely happen next year now).
Stopped clock is eventually right. But there was literally zero information in the insane claims made in Q1. If you did not see this immediately, don't pay attention to these forecasts.
- jacquesm 9mo agoThat's a really nice comment but does not bear in any way on what I wrote. The Trump administration has now completed its first year. There are three to go.
- skippyboxedhero 9mo agoYes, i am saying very directly that the prediction made was made by many (which is the comment you replied to) that tariffs WOULD HAVE ALREADY caused the economy to fall into a deep recession. These predictions were wrong, they were obviously wrong at the time they were made but that didn't stop the breathless coverage about a coming Great Depression. Whatever happens next is irrelevant, it won't make that prediction correct.