A new report from Axios shows that there may be cracks starting to appear in the booming U.S. economy. The report explains that there are numerous warning signs that an economic slowdown could be ahead after nearly ten years of continuous economic growth in the United States.
Although a jobs report issued Friday showed unemployment to be very low and job creation to be very high, all the economic news is not good. According to Axios, “visible threats suggest an all-out recession could come as soon as next year.”
Here are some key economic indicators showing that may be trouble ahead:
What Happens Next?
The economic forecasts for what will happen next in the U.S. economy are very mixed. However, according to Axios, “recession is a common theme.”
Here are the opinions of some leading economists:
The U.S. Federal Reserve’s recent series of interest rate hikes has caused prices to increase, and economists believe this is a harbinger of a coming recession. The historically high federal deficit is also a factor.
Axios said that experts forecasting a continuing economic slowdown over the next two years include the IMF, and Ben Bernanke and Janet Yellen, both former Federal Reserve chairmen.
People inside the Trump administration of course deny that a recession is imminent. They are still forecasting strong economic growth over the next several years. But the Trump administration does not have a good track record when it comes to telling the truth. And this may be just one more case where they are issuing misleading statements for political purposes.
A recession may in fact be on the horizon, and if it comes then all of the Republican lies will be exposed, and 2020 will be another election year where Americans decide they need a new political party in charge.
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