September 20, 2019
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🔴 The US Economy Sliding into Recession (w/Danielle DiMartino Booth)


I like to think of big sell-side Macroeconomists as saying well the car is running so it must be fine Well, they’re just looking at the headlines If you look underneath the hood There’s leaks here and tubes breaking there and you know the engines about to break down and your transmissions about to fall out So at the beginning of the year quill intelligence came out with its three big predictions for the year one of them Was that Germany would go into recession? It looks like we’re just about there the other was that the tenure note would get down to two percent people Thought we were absolutely nuts. And the third one was that despite all of this. We saw the dollar strengthening and We’re standing by all three of those calls for the remainder of the year despite the fact that our targets have largely been met mainly because if you look outside of the United States There’s every reason to believe that the United States will continue to be the most attractive horse in the glue factory as my old boss Richard Fisher used to say so on a relative basis, you know, we’ve got talks about the european central bank relaunching stimulus I think that Japan would certainly follow them Australia’s in a cutting move after an expansion that’s lasted almost 30 years because China’s slowing to the extent that it that it has So if if negative rates are going to be getting more negative then there will be a Flocking to the the ten-year Treasury at the same time that we know that there’s there aren’t enough dollars out there there’s simply a dearth of Dollars a dearth of dollar funding which is going to have investors continued to clamor to get their hands on greenbacks so a lot of these things run cross-current to one another but the overarching I Haven’t bought gold in years but a few months ago. I finally stepped back in and said We’re not going to be decoupling forever. Mmm Everybody on bubble vision who says that the United States can indefinitely d couple from the rest of the world I’m like, I’ve heard that somewhere like a decade ago, and it didn’t work out too Well then and I think that that’s why we’ve seen gold pushing six-year highs here so let’s unpack that that’s a lot in terms of the US economy because I mean that’s where the rubber hits the road in terms of what you’re talking about and you have a Bevy of stats that you look at that You know traditional macro economists aren’t getting into the weeds into these places. Tell me what are the things that are the most Salient for you in terms of where we are I mean are we actually on the cusp of recession that I think that the US economy is definitely sliding into recession And you mentioned where the rubber hits the road. I like to think of big sell-side Macroeconomists as saying well the car is running so it must be fine Well, they’re just looking at the headlines if you look underneath the hood Yeah, there’s leaks here and tubes breaking there and you know the engine’s about to break down and your transmissions about to fall out and We if you look at things like the cast Freight index You know when they were down month-over-month? For three months in a row and then four months in a row and then five minutes in a row they held the line saying this could just be a slow down like the industrials recession of 2015 8 2016 we could be coming out of it. But once they hit that sixth consecutive month of year-over-year declines in and we are a Nation of consumers we are what we buy and if there are fewer trucks Delivering whatever Jeff Bezos is selling us then that is a sign that a consumption that economy is slowing So after that sixth consecutive month cast came out and used the word Contraction that they see a contraction in the third or fourth quarter of this year and I can’t disagree with their assessment given the fact that even even the labor market has started to show some signs of serious weakening tell me about the labor market in particular because one of the things that I find interesting is the concept of revisions that is is is that Two things on that one is the real-time revisions that we see Oh, by the way, the last two months we revised them down But also then the benchmark revisions that we have now, so in some senses We’re not really seeing the actual numbers that we will see Once all the data come into play and you know to your point about benchmarks I think we needed a particular attention because for a few years there we could just ignore them because they were being revised upwards But that hasn’t been the case in recent years I wouldn’t expect that to be the case in the latest batch that we’re expecting and On top of that one of the first things that they teach you at the Federal Reserve, is that lags matter? Which we know they do and the tightening that was that was unleashed that ended in December It’s still percolating its way through the economy and in various forms, but also that backwards revision Really tell us what inflection points are right that June non-farm payroll headline it was fine but we had what the Fed considers to be a moment of truth three consecutive months of downward revisions to the prior months that tends to tell you that the unemployment rate is heading up and that we’ve seen Kind of peak labor growth. If you start to see these backward revisions in real time. We’re not waiting a year for the benchmark We’re seeing them in real time right now three consecutive months running. Yes So let’s think about this the ten-year Treasury in that context because I mean what you’re talking about is a slowdown in You know in growth in the United States and potentially a recession coming on to that so What does that mean in terms of your macro thesis of the Treasury from here because we’re already near the 2% level that you talked About earlier. Do you see that going even lower because we spoke to Gary Schilling He’s talking about 1% I’m good friends with Gary and I read some of his work But if you think about what some of the prior lows have been in this cycle 165 if we’re actually going into recession and we’ve bounced off these lows before when it was just kind of a dress rehearsal Oh, it’s just a earnings recession. We’re gonna be fine. We’re gonna come out of it. Not once but twice and again The major differentiating factor between those earnings recessions and now is that we have residential construction That is going down 11.2% rate the latest read over the prior year. That was a huge Tailwind during the industrials recession of 15 and 16 We don’t have that as an offset and that tells me that there’s no reason in the world if a larger Proportion of the US economy is slowing that we wouldn’t break through that 165 and keep going back towards 1% Especially again given what’s happening off our shores, right? So, you know Actually, I wanted to pivot to other things in the US economy when you said off our shores tell me about that I mean what is actually happening you were talking about the second and third largest economies Germany and China what’s happening there? Well, they’re exporting powerhouses and there’s a symbiotic relationship between the two of them So you and I were speaking before about the fact that you can’t urbanize an entire country twice. So China’s kind of checked that box. They won’t be able to pull the entire world economy out if you look at worldwide car sales in 2008-2009 it looks like just a little blip and then off we went to the races that was largely a reflection of Chinese strength That was also seen in Germany exporting millions and millions of cars I mean BMW Mercedes Volkswagen these massive brands rely on on China as an export market and that is simply not there and we’re beginning to see a trickle-down effect we’re seeing things like the beginnings of rising unemployment in Germany and Germans are beginning to talk about Fiscal relief and spending more. They’re the most prudent people in the world they do not want to take debt on but they know that their economy is going to be needing it and soon and that there’s no way to turn away from The fact that the bulk of their auto manufacturing is the internal combustion engine When their main consumer China has changed over to electric vehicles. So these are structural moves that we’re seeing here and There’s no reason to believe that Given the amount of investment that’s been made by these companies in the United States think of BMW in the south Think of the south carolina presence of so many of these companies kentucky a lot of it used to just be kind of detroit and the midwest but foreign especially German Manufacturers presence in the United States has been a huge benefit to the entire manufacturing sector That’s going away. Not not disappearing, but it’s definitely Decreasing at a time that we’re seeing Retail sales retail car sales in the United States also on The decline for the first six months of the year Everything’s being flattered by fleet sales, but don’t buy that don’t buy it When when Fiat Chrysler comes out and says we had a great month By the way, one in four of every cars, we sold was fleet. That is not a reflection of a strong US consumer you You You

Otis Rodgers

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100 COMMENTS

  1. Thomas Kauser Posted on August 8, 2019 at 1:46 pm

    Most people are still expecting short rates to go higher as per the dozen years of false

    Narratives?

    Reply
  2. D N Posted on August 8, 2019 at 1:48 pm

    If it weren’t for borrowing gdp would be negative. Fed numbers are complete garbage.

    😱😱😱😱😱😱

    Reply
  3. Robert Parelli Sr. Posted on August 8, 2019 at 3:58 pm

    What a lovely and intelligent lady.

    Reply
  4. Heljos 24 Posted on August 8, 2019 at 4:19 pm

    She is wrong about consumer spending on stuff like Amazon. Scott's July posts both show record highs in Truck Tonnage and consumer confidence. But the rest of the vid is good.

    Reply
  5. kppphd Posted on August 8, 2019 at 6:24 pm

    She seems like an adorable lady.

    Reply
  6. ovoxochris88 Posted on August 8, 2019 at 7:30 pm

    wifeyyyyy!! <3

    Reply
  7. M Riss Posted on August 8, 2019 at 8:16 pm

    Simple question: Why black and white video??

    Reply
  8. M Riss Posted on August 8, 2019 at 8:17 pm

    A dearth of USD?? So, more QE is her answer?? Classic Federal Reserve promotion!

    Reply
  9. M Riss Posted on August 8, 2019 at 8:18 pm

    You should be buying Gold and Silver soon!

    Reply
  10. M Riss Posted on August 8, 2019 at 8:21 pm

    Maybe BMW will have to compete more by offering cars that people will want to purchase? Isn't that the way free markets work? She's a promoter for creating more USD out of nothing so the Fed can continue to make money in spite of everything saying they shouldn't!

    Reply
  11. Seadreamer rebel Posted on August 8, 2019 at 8:37 pm

    Great video. 👍

    Reply
  12. 803 Mastiff Posted on August 8, 2019 at 9:10 pm

    We've been a recessions for close to 20 years….injections of financial heroin and cocaine has kept it moving, not alive, moving…."Weekend With Bernie Economy"

    Reply
  13. Ben Leao Posted on August 8, 2019 at 9:28 pm

    QE3,4,5,6,7,8,9

    Reply
  14. dm 34280 Posted on August 8, 2019 at 9:56 pm

    Someone who is willing to speak truth.

    Reply
  15. Heather 22 Posted on August 8, 2019 at 10:18 pm

    This is a smart woman, I love listening to her. Great play on gold, I own gold miners, WPM, GOLD, AEM, and NEM.

    Reply
  16. daorange370 Posted on August 8, 2019 at 10:40 pm

    DANIELLE, you are Beautiful and Fine! Jus sayin!🤓

    Reply
  17. daorange370 Posted on August 8, 2019 at 10:41 pm

    Now… What'd u say!?!🤯

    Reply
  18. SeaDrive300 Posted on August 9, 2019 at 12:40 am

    If they were honest about inflation, we'd see that we've been in a recession for the past ten years. They can make the numbers say anything they want, since they're based on statistical lies.

    Reply
  19. andy Posted on August 9, 2019 at 1:57 am

    where is the value?

    Reply
  20. Brady Pugliese Posted on August 9, 2019 at 2:26 am

    decoupling from what? Everyone is pegged to us…

    Reply
  21. John D Posted on August 9, 2019 at 2:39 am

    Buy all the food and ammo you can, because the next recession will be a depression. And it's not going to recover.

    Reply
  22. John D Posted on August 9, 2019 at 2:44 am

    How many Ghost Cities can China build. When they run out of Ghost Cities to build their economy collapse

    Reply
  23. Alejandro Bolaños Posted on August 9, 2019 at 3:33 am

    I just came here to comment that's Gears of War's font

    Reply
  24. joe canuck Posted on August 9, 2019 at 4:01 am

    Recession?, North America has been living in a recession with greed fueled feed back loops for 10 years. Now comes DEPRESSION. Enough word crap.

    Reply
  25. joe canuck Posted on August 9, 2019 at 4:05 am

    This individual is a yak'n achen-demonic fraud. All CRAP… Could she be Blythe Masters sister?

    Reply
  26. KK Z Posted on August 9, 2019 at 4:09 am

    China prints more money, Germany and EU prints more money, U.S. prints more money…..debt is negative yielding…the bastards get bailed out with debt buyback and we are left holding the bag. Welcome to Slavelandia

    Reply
  27. PAUL MCLEAN Posted on August 9, 2019 at 4:53 am

    …love Danielle's pov; always bang on…

    Reply
  28. dontroll onshabbos Posted on August 9, 2019 at 5:48 am

    Unless she says 'end the Fed' she is an insider and controlling the narrative.

    Reply
  29. Austin Lee Posted on August 9, 2019 at 6:57 am

    American controlled media, economy. Trump is dragging American economy into recession.

    Reply
  30. MechanicalCheeze Posted on August 9, 2019 at 6:59 am

    hahaha. bye bye america. you suck. the world is strong and will survive your collapse.

    Reply
  31. The Lone Goat Posted on August 9, 2019 at 7:38 am

    Yes the Trump economy was never a good economy it was never good at all. Trump just threw a bunch of money in the form of corporate tax cuts at the economy. Giving us a short term boost which was just an illusion.We've always had recessions we're going to have a recession it's nothing new.

    Reply
  32. Mike Spilligan Posted on August 9, 2019 at 7:49 am

    China need to get to the moon as they are running out of space to build ghost cities.

    Reply
  33. Mike Spilligan Posted on August 9, 2019 at 7:53 am

    Is real vision portraying the 1920 depression with the black and white TV?

    Reply
  34. dwillmes Posted on August 9, 2019 at 8:15 am

    I would rather see a slow decline in residential construction, car sales, etc than a huge bubble and a sharp decline/burst… is it possible that we could have a normal and natural downturn/recession and then a natural and organic recovery due to the free market and organic economic law without manipulation of interest rates, quantitative easing etc… at the risk of answering my own question; not likely

    Reply
  35. Worldfinances Posted on August 9, 2019 at 8:40 am

    You don't have to be professional to know that. Just look at the bond market

    Reply
  36. Worldfinances Posted on August 9, 2019 at 8:41 am

    You don't have to be professional to know that. Just look at the bond market

    Reply
  37. Perry Mathis Posted on August 9, 2019 at 9:55 am

    Hey cool haven't seen Ed since he left Boom Bust

    Reply
  38. Tim Julian Posted on August 9, 2019 at 11:05 am

    Poor guy doesn´t know where to put his eyes!

    Reply
  39. Nachannachle Posted on August 9, 2019 at 11:28 am

    Di Martino Booth, Dalio, Gundlach = $$$MART.
    America REALLY should listen to these 3 financial markets wunderkinden instead of the delusional CNBC/Bloomberg/Fox news "economists".

    Reply
  40. Clive Grenville Posted on August 9, 2019 at 11:36 am

    usdebtclock.org

    Reply
  41. Jeremy Brown Posted on August 9, 2019 at 12:14 pm

    The interviewer sucks

    Reply
  42. James Ruscheinski Posted on August 9, 2019 at 2:26 pm

    Tariffs and higher treasury, fed funds and discount interest rates to overcome currency devaluation for stronger currencies to increase import / export trade and money velocity through greater purchasing power

    Reply
  43. jonathan bosco Posted on August 9, 2019 at 2:36 pm

    Thank you impressive guest she knows economics and cars

    Reply
  44. Radnally Posted on August 9, 2019 at 2:56 pm

    Just look at the last 6 months of the ten year treasuries. Says it all

    Reply
  45. Joel Slavis Posted on August 9, 2019 at 2:59 pm

    She is very smart woman she takes macro Makes it easy-to-understand,I believe she Has some very clear insight Into The What is going on in the economy today

    Reply
  46. Jon Luci Posted on August 9, 2019 at 5:51 pm

    US economy is not growing. Lol news is fake. Look outside the avenues. Everything closing up shop

    Reply
  47. uckBay Nguyen Posted on August 9, 2019 at 5:55 pm

    Kudos. More in-depth analysis please.

    Reply
  48. Jeff Lombardi Posted on August 9, 2019 at 7:52 pm

    The moment we lose the consumer this is going to be awful.

    Reply
  49. michael smith Posted on August 9, 2019 at 9:18 pm

    The time call consumer cracks me up every time😂😂😂 I'll never be that

    Reply
  50. Robert r Posted on August 9, 2019 at 9:25 pm

    Trump said all things going very well😁

    Reply
  51. Damian Posted on August 9, 2019 at 9:48 pm

    These "experts" waffle on about the coming recession but for 90% of us, the recession started in 2008 and hasn't let up. The private sector has been struggling for 10 years. Wages have gone sideways or backwards, living costs have increased and job security is non-existent in most sectors.

    Reply
  52. Barry Mcbrush Posted on August 10, 2019 at 1:08 am

    Ed is awesome! We need you back on Boom Bust.

    Reply
  53. michael green Posted on August 10, 2019 at 4:53 am

    Come do a deal with the uk

    Reply
  54. John Casey Posted on August 10, 2019 at 5:26 am

    Why are they interviewing Caitlyn Jenner on the economy?

    Reply
  55. andtam008 Posted on August 10, 2019 at 8:02 am

    TRUMP RECESSION . The Trump recession will be the greatest recession ever in the American history.

    Reply
  56. Duncan McKeown Posted on August 10, 2019 at 8:09 am

    Wow! Great discussion…I have admired Ed Harrison since his old "Boom Bust" days on RT, and Danielle is a very well-informed lady. Glad to have just discovered this site…and instantly subscribed!

    Reply
  57. A.I. Posted on August 10, 2019 at 11:00 am

    The whole world is in Recession… No-one just want to admit it.

    Reply
  58. Na Na Posted on August 10, 2019 at 3:56 pm

    Hardcore Absolute Fact: Americans continue to be ( still are ) in a recession since 2007! Capitalism is dead! Wages are far too low and no longer motivating Americans to work! Not worth it!!!!

    Reply
  59. Ryan Alex Posted on August 10, 2019 at 5:17 pm

    A+++ PRODUCTION

    Reply
  60. Eric Smith Posted on August 10, 2019 at 6:23 pm

    Danielle you’re a very attractive woman but you have gained some weight lately… please take care of it. I like to listen what you have to say and look at you at the same time 😉 Sorry for my brutal statement but I want to remain your fan 😘

    Reply
  61. 08FayFay Posted on August 11, 2019 at 1:24 am

    Sliding into a recession is putting it mildly. Putin appointee US President trump speeding it up China looking on laughing

    Reply
  62. Mr Fat-face Posted on August 11, 2019 at 1:30 am

    Why is it in black and white?

    Reply
  63. 438295 Posted on August 11, 2019 at 1:52 am

    This ladies knockers are wonderful. I like to listen to her too. Smart lady.

    Reply
  64. Edward Lahey Posted on August 11, 2019 at 2:42 am

    Inflation is coming to the grocery store. Book it!

    Reply
  65. Ken Rose Posted on August 11, 2019 at 3:00 am

    Revisions = Sliding tandems and fifth wheel

    Reply
  66. Van Stiller Posted on August 11, 2019 at 6:33 am

    IT'S OVER JOHNIE – OVER !!!!!

    Reply
  67. scott warwick Posted on August 11, 2019 at 9:42 am

    Women do not know anything of importance in this world.This women is just quoting what other learned people have found.Women have no intellect or forethought.

    Reply
  68. Donald Regan Posted on August 11, 2019 at 4:15 pm

    Some interesting points being made.. I think she's overreacting about US retail auto sales though. Like iPhone sales slightly declining, auto sales are at least partially declining because the average car has gotten unnecessarily expensive so people are holding onto their old cars for longer (everything is a $30k SUV with tons of superfluous tech features that only make the car more expensive to repair/insure).

    Reply
  69. Black powder Productions Posted on August 11, 2019 at 4:51 pm

    We haven’t seen anything yet ! It’s gonna get ruff like we haven’t seen in our lifetimes.
    Credit is a whore it’s called USARY Deuteronomy 23 ; 19 thru 24. Don’t like it tuff we have been played ‼️
    Matthew 6:24 no man can serve two masters you cannot serve Jesus Christ and Mammon 🤷‍♂️
    Illusion in the grand scale , 🐷👹

    Reply
  70. Boanerges7 Posted on August 11, 2019 at 5:03 pm

    Two of my favorite economists. It's great to see you again Ed! RT destroyed your show, and I'm so glad your still sharing your expertise. Great video!

    Reply
  71. ShakespeareCafe Posted on August 11, 2019 at 5:59 pm

    dearth = scarcity

    Reply
  72. Juan Torres Posted on August 12, 2019 at 12:28 am

    Truck Drivers transport 70% of all goods; meaning, anything in planes, ships, railroad, air planes, etc., will be ( sooner/ later) deliver by trucks; in other words, no shortage of loads/shipments (all kinds of freight) detected, as of yet.

    Reply
  73. Type3timetravel Posted on August 12, 2019 at 1:17 am

    The wheels are falling off

    Reply
  74. Tom Hawley Posted on August 12, 2019 at 8:10 am

    we never recovered from 08 recession…….we r heading toward a global depression……..prepare, prepare, prpeare

    Reply
  75. Toots RR1 Posted on August 12, 2019 at 4:35 pm

    Moooooooooo ! Trump 2020

    Reply
  76. ManInTheBigHat Posted on August 12, 2019 at 5:58 pm

    If we're sliding into recession why are housing prices going up and up and up and UP !?

    Reply
  77. Blake Posted on August 12, 2019 at 7:02 pm

    Once we go back to zero and ultimately zero we will no longer remain the worlds largest safe haven. A country with less debt and more production is going to win the day.

    Reply
  78. Israel Barrera Posted on August 13, 2019 at 8:22 am

    It's not going recession. Money is fake.

    Reply
  79. AVERAGE JOE Posted on August 13, 2019 at 9:06 pm

    Why is this woman speaking?

    Reply
  80. Chris Robato Posted on August 14, 2019 at 9:14 am

    She nails it. Spoken so eloquently, yet so direct with examples and metaphors so easy to understand.

    Reply
  81. ray bon Posted on August 15, 2019 at 12:47 am

    ………lets give globalisim 35 more years to work………….lloll….
    if it dont by 2055…..when im 80.
    …then we should ditch it and go back to a domestic economy……lloll…

    Reply
  82. Tan Meng Huat Posted on August 15, 2019 at 3:24 am

    America hit every country into recession so the recession back fired.

    Reply
  83. The Hiking gamer Posted on August 15, 2019 at 1:48 pm

    I do believe that the US economy is a giant with feet of paper right now. I am no economic expert, far from it, and personnally can not see those signs, but I absolutely believe something will happen. Whether it will be milder or worst than 2008 is up for debate….Excellent video though, she makes it very easy to understand even for amateurs like me.

    Reply
  84. Necron99 Posted on August 15, 2019 at 2:14 pm

    When Germany goes down, so will the rest of Europe. And of course Germany wants it's gold back now.

    Reply
  85. cds162 Posted on August 15, 2019 at 4:12 pm

    "and your Transmission is about to fall out" ouch but true!

    Reply
  86. paul broderick Posted on August 16, 2019 at 1:55 pm

    As an immigrant to the USA what I consider to be the one factor that changed the US economy so drastically was OPEC back in the 70's. After that, is was downhill for the auto industry at a rapid pace. It has never really recovered irrespective of all the 'new' ideas.

    Reply
  87. Funkywallot Posted on August 16, 2019 at 4:54 pm

    So , President Trump will be in all favour to let the FED start a massive QE scheme just in time to win the election, next year ? Imagine my surprise if that will play out. Anyway … the sentiment will turn sour and the fear factor will spread creating a push on stock sales and capital will be stashed into bonds. BTW – I really like the black and white footage.It ads avery nice dimension to it.

    Reply
  88. Without Worries Posted on August 16, 2019 at 7:44 pm

    Can't speak for other German residents, however our family has no debt. Indeed spending on a credit card is paid off the next month. Certainly not a brag, just offering a counterpoint to the interviewee suggesting people in Germany are now looking for debt. Not a chance!

    Reply
  89. Larry Corn Posted on August 17, 2019 at 1:20 am

    We need Danielle to run for president after Trump

    Reply
  90. Julia Lerner Posted on August 17, 2019 at 3:17 am

    Long story short: Buy Gold.

    Reply
  91. Roy Desell Posted on August 18, 2019 at 5:30 am

    Danielle you are the best, , Trump is weak caving into China and N. Korea, Trunp calls the big banks, you don;t think he called out of concern for us ?/ no he is only interested in his re-election, we will be in a recession by Dec. 2019 and interest rates at 0% by March 2020

    Reply
  92. patrick brown Posted on August 18, 2019 at 8:18 am

    Trump must go before we have yet another War, NWO is in control – Petro$ worthless, it's oil and Money! The Federal Reserve must be dismantled, money leaders of the World all we will fall into a debt trap!

    Reply
  93. Progressive Investing Posted on August 18, 2019 at 10:37 pm

    I’ve watched about 10 of these interviews now. 3 topics are consistently understood. 1. The global financial situation is a house of cards. 2. The next big crash is coming in the next 12 months most likely. 3. Buy gold!

    Reply
  94. thebigmalkowski Posted on August 18, 2019 at 11:20 pm

    "The most attractive horse in the glue factory." LoL!

    Reply
  95. jon davis Posted on August 19, 2019 at 1:10 am

    I've been in recession all my life

    Reply
  96. Jasper Jack Posted on August 20, 2019 at 2:59 am

    The recession Lie. Brought to you by the media and the democratic leadership.

    Reply
  97. PU Posted on August 20, 2019 at 12:53 pm

    recession on the way???…..ask yourself how the USA will repay $24 TRILLION in debt (growing at over $1 trillion pa) …….. needless trade wars with basically every major trading partner where markets will be forever lost (as trust is the most precious commodity)…… no strategic objective other than a moronic president pretending to be the tuff guy as if in a TV programme, a man with zero idea of business and or economics……the very definition of a conman. Yep, a recession is on its way… thanks to the orange juvenile.

    Reply
  98. kathleen smith Posted on August 20, 2019 at 8:06 pm

    I can fix the US economy in a minute — build infrastructure and lower taxes for the middle class. Problem solved. Look more dollars in the system. Problem solved. DiMartino is clueless — we are not on a gold standard and even if the world went back to a gold standard (who cares) US can make stuff in our country and guess what when we export things out to the world we can get gold. That gold we will be traded in US Central Bank for fiat US dollars.

    Reply
  99. timlukas1 Posted on September 2, 2019 at 8:57 pm

    Tip to interviewer: one cognac or martini less, before the show, leads to less slurred speech during the show.

    Reply
  100. whitey bulger jr. Posted on September 6, 2019 at 3:42 pm

    She's the economic bar fly

    Reply
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