Peter Navarro made a promise that could send Trump to 2020 defeat when said that the economy will be strong in 2020 and beyond.
"What I can tell you with certainty is that we're going to have a strong economy through 2020 and beyond," White House trade adviser Peter Navarro tells @martharaddatz when asked about indicators that the U.S. could be headed for a recession https://t.co/lHppZhydNv pic.twitter.com/bZHIkuyNVw
— This Week (@ThisWeekABC) August 18, 2019
As Country Heads For Recession Trump White House Promises Strong 2020 Economy
Transcript via ABC’s This Week:
RADDATZ: We know the labor market is strong. We know consumer confidence remains high. But on Wednesday, we saw the worst drop in the stock market this year, and although there was some recovery, there are indicators that the U.S. could be headed for a recession.
NAVARRO: So, before I came to the White House I spent a better part of 20 years forecasting the business cycle and stock market trends, and what I can tell you with certainty is that we’re going to have a strong economy through 2020 and beyond with a bull market, and here’s why, things are shaping up well.
First of all, the Federal Reserve going into the holidays will be lowering rates significantly. What that will do is it will help our investment directly. It’ll help our exports indirectly through a currency effect. Secondly, the European Central Bank has signaled strongly they’re about to engage in a very aggressive round of monetary easing that will help not only revive the economy of Europe, but also help build export demand.
I think China is going to have a second round of fiscal stimulus. What that will do for the global economy is help the developing countries that sell them all the commodities for their manufacturing machine.
By early October, if Congress rises above partisan politics, we should have passage of the U.S.-Mexico-Canada trade agreement. This is without hyperbole, the largest trade deal ever in history. It’s also going to give us hundreds of thousands of more jobs, more growth points, and there’s a couple of other things I should mention…
RADDATZ: But these seem like a lot of ifs. If this happens, if that happens.
This economic promise could doom Trump
Navarro’s answer made it clear that Trump’s plan for the economy is that a bunch of stuff goes right for them. If it doesn’t, they are screwed. The country is heading for a recession. Donald Trump’s plan is to do nothing and call the recession fake news. If the economy is in recession by 2020, this clip of Navarro will come back to haunt Trump. The president has surrounded himself with enablers. No one is going to tell him the truth about the economy, and this denial bubble could cost Republicans the White House in 2020.
Mr. Easley is the founder/managing editor and Senior White House and Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association