• 

Fact; the three previous Republican president’s fiscal policies led America into a recession. Ronald Reagan left office in 1989. Unemployment was at 12 percent, and the deficit reached one-trillion dollars. George H.W. Bush was forced to raise taxes to avoid a deep recession. George W. Bush failed so badly President Obama was faced with a near depression and a nation engaged in two unwinnable wars. It should be no surprise that another Republican in name only president is intentionally leading us down that same dark road again by destroying the accomplishments of his predecessor.

It is almost a certainty that a recession is coming later this year or in 2020. Trump’s misnamed “tax reform,” combined with a policy of trickle-down economics, and a unilateral decision to place tariffs on imports, have combined to create events which forecast an economic downturn.

The stock market is more affected by uncertainty than any other factor. Wall Street is displaying signs of fear. Investors are afraid of Trump’s rash and ill-advised actions. The trade war with China continues and there is no end in sight. Consumers are already paying more for everything from clothing to electronics.

The most important indicator; the one which matters most; is the fact that the super-rich are not spending their fortunes on mansions, cars, or jewelry. They are hoarding their wealth.

Robert Frank is reporting on CNBC the facts which indicate another recession during a Republican president’s tenure in the White House.

“From real estate and retail stores to classic cars and art, the weakest segment of the American economy right now is the very top. While the middle class and broader consumer sections continue to spend, economists say the sudden pullback among the wealthy could cascade down to the rest of the economy and create a further drag on growth.”

Although Trump has proven himself to be the rich man’s president, if consumers cannot or choose not to purchase the goods they manufacture and produce, the rich will find their finished products gathering dust on the shelves of retail outlets and warehouse. They will feel the recession as they experience lower profits.

Finally, single family homes have once again become a seller’s market. Here in Northern Nevada housing prices are skyrocketing. There exists a housing shortage, which accounts for an increase in prices. However, greed appears to be the driving force.

My wife and I just had our home appraised. You must understand that the selling price is often a lot higher than the value estimated by an expert. Our little home is wonderful, but we do not live in the most desirable area, which is just outside of Reno. The estimated value is nearly three-times what we paid for it when we had it built.

The biggest problem is that economists are claiming that most Americans, including millennials, will not be able to qualify and purchase single family homes in the future. I know several men and women between 18 and 34 who are not considering owning their own homes. So, the question becomes, ‘will housing be at the center of another recession?’

Your illegitimate president and his woefully incompetent administration are ignoring the many economic indicators before them. They are more concerned about a wall on our southern border, and taking away your healthcare.

Tell everyone, “the truth lives here.”

Op-ed by James Turnage

SOURCE

My seven novels, including “Sheena Queen of the Streets,” are now available on Amazon’s free Kindle app; CLICK HERE