Is Trump Intentionally Trying To Cause A Recession?

The following is just part of a post by former Labor Secretary Robert Reich: 

On Friday, Trump called on investors to buy low as markets plunged. “THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!” Trump said on Truth Social.

I don’t think Trump was referring to the current downdraft in stock prices. He was referring to the coming recession. 

Last week’s stock sell-off wiped out roughly $6.6 trillion in value from corporations listed on American stock exchanges. The clear message coming out of stocks, bonds, oil, and the dollar is the growing risk of a recession. 

On Friday, economists at JPMorgan, America’s largest bank by assets and market capitalization, put the odds of a coming recession at 60 percent. . . .

So a recession seems likely. The American economy will contract over the next six months. 

This will cause massive hardship for lower-income Americans because they’re likely to be the first ones to lose their jobs — at the same time they’re paying more for much of what they need. 

But a recession is not necessarily bad for Trump and his billionaire buddies. America’s oligarchy depends on periodic recessions. 

Recessions are opportunities to buy up real estate, companies, and shares of stock at bargain-basement prices. Recessions also give political cover to Trump, Musk, and Republican efforts to reduce labor and environmental standards.

Also, remember the business cycle. A recession early in Trump’s term is politically better for Trump and his Republican allies than a recession later in the term.

 

I believe Trump’s plan is for a recession in 2025 so that he and his billionaire buddies can ride the wave of a recovery in 2026 — just in time for the midterm elections.