3 In 4 Economists See A Recession By End Of 2021 | Hardball | MSNBC

3 In 4 Economists See A Recession By End Of 2021 | Hardball | MSNBC


>>>BIG CASINO. LET’S PLAY “HARDBALL.” LET’S PLAY “HARDBALL.”>>>GOOD EVENING.>>>GOOD EVENING. I’M CHRIS MATTHEWS IN I’M CHRIS MATTHEWS IN WASHINGTON. WASHINGTON. DONALD TRUMP, WHO SAYS HIS WHOLE DONALD TRUMP, WHO SAYS HIS WHOLE LIFE HAS BEEN A BET, IS GAMBLING LIFE HAS BEEN A BET, IS GAMBLING ALL HIS CHIPS ON A BOX OFFICE ALL HIS CHIPS ON A BOX OFFICE ECONOMY IN 2020. ECONOMY IN 2020. HE’S OUT THERE NOW ACCUSING HIS HE’S OUT THERE NOW ACCUSING HIS ENEMIES OF CONSPIREING AGAINST ENEMIES OF CONSPIREING AGAINST HIM, AMID MOUNTING SIGNS THAT HIM, AMID MOUNTING SIGNS THAT THE U.S. ECONOMY MAY BE ON SHAKY THE U.S. ECONOMY MAY BE ON SHAKY GROUND. GROUND. AFTER A RECORD TEN YEARS OF AFTER A RECORD TEN YEARS OF ECONOMIC GROWTH, RECENT MARKET ECONOMIC GROWTH, RECENT MARKET VOLATILITY AND A TRADE WAR WITH VOLATILITY AND A TRADE WAR WITH CHINA HAVE RAISED CONCERNS ABOUT CHINA HAVE RAISED CONCERNS ABOUT THE POSSIBILITY OF A SERIOUS THE POSSIBILITY OF A SERIOUS ECONOMIC DOWNTURN. ECONOMIC DOWNTURN. YET THE PRESIDENT’S DISMISSING YET THE PRESIDENT’S DISMISSING THOSE WARNINGS AND FINDING NEW THOSE WARNINGS AND FINDING NEW TARGETS TO BLAME FOR THE TARGETS TO BLAME FOR THE ANXIETY. ANXIETY. EARLIER TODAY TRUMP ATTACKED EARLIER TODAY TRUMP ATTACKED DEMOCRATS AS WELL AS THE DEMOCRATS AS WELL AS THE CHAIRMAN OF THE FEDERAL RESERVE CHAIRMAN OF THE FEDERAL RESERVE HE APPOINTED, WRITING ON HE APPOINTED, WRITING ON TWITTER, OUR ECONOMY IS VERY TWITTER, OUR ECONOMY IS VERY STRONG, DESPITE THE HORRENDOUS STRONG, DESPITE THE HORRENDOUS LACK OF VISION BY JAY POWELL AND LACK OF VISION BY JAY POWELL AND THE FED, BUT THE DEMOCRATS ARE THE FED, BUT THE DEMOCRATS ARE TRYING TO WILL THE ECONOMY TO TRYING TO WILL THE ECONOMY TO CRASH FOR — NOW “THE NEW YORK CRASH FOR — NOW “THE NEW YORK TIMES” IS REPORTING IN MAKING TIMES” IS REPORTING IN MAKING THOSE ATTACKS THE PRESIDENT IS, THOSE ATTACKS THE PRESIDENT IS, QUOTE, LASHING OUT AT WHAT HE QUOTE, LASHING OUT AT WHAT HE BELIEVES IS A CONSPIRACY OF BELIEVES IS A CONSPIRACY OF FORCES AGAINST HIM. FORCES AGAINST HIM. IN PRIVATE CONVERSATIONS WITH IN PRIVATE CONVERSATIONS WITH AIDES AND ALLIES, TRUMP’S AIDES AND ALLIES, TRUMP’S INSISTING THAT HIS CRITICS ARE INSISTING THAT HIS CRITICS ARE TRYING TO TAKE AWAY WHAT HE SEES TRYING TO TAKE AWAY WHAT HE SEES AS HIS CALLING CARD FOR AS HIS CALLING CARD FOR RE-ELECTION. RE-ELECTION. THE ASSOCIATED PRESS REPORTS THE ASSOCIATED PRESS REPORTS THAT THE PRESIDENT IS EVEN THAT THE PRESIDENT IS EVEN WONDERING IF THE MEDIA AND WONDERING IF THE MEDIA AND ESTABLISHMENT FIGURES ARE ESTABLISHMENT FIGURES ARE MANIPULATING THE DATA TO MAKE MANIPULATING THE DATA TO MAKE HIM LOOK BAD. HIM LOOK BAD. ACCORDING TO TWO REPUBLICANS ACCORDING TO TWO REPUBLICANS CLOSE TO HIM. CLOSE TO HIM. THIS COMES AS A NEW SURVEY TODAY THIS COMES AS A NEW SURVEY TODAY BY THE NATIONAL ASSOCIATION FOR BY THE NATIONAL ASSOCIATION FOR BUSINESS ECONOMICS FINDS THAT, BUSINESS ECONOMICS FINDS THAT, QUOTE, 74% OF ECONOMISTS PREDICT QUOTE, 74% OF ECONOMISTS PREDICT THE NEXT RECESSION WILL HIT BY THE NEXT RECESSION WILL HIT BY THE END OF 2021. THE END OF 2021. IN OTHER WORDS, MORE THAN TWO IN OTHER WORDS, MORE THAN TWO YEARS FROM NOW, YET TRUMP IS YEARS FROM NOW, YET TRUMP IS DOWNPLAYING THE CHANCES THAT AN DOWNPLAYING THE CHANCES THAT AN ECONOMIC DOWNTURN IS EVEN ECONOMIC DOWNTURN IS EVEN POSSIBLE. POSSIBLE. HERE’S HOW HE RESPONDED HERE’S HOW HE RESPONDED YESTERDAY WHEN ASKED IF HIS YESTERDAY WHEN ASKED IF HIS ADMINISTRATION HAS A PLAN TO ADMINISTRATION HAS A PLAN TO DEAL WITH THE POTENTIAL DEAL WITH THE POTENTIAL RECESSION SHOULD ONE OCCUR. RECESSION SHOULD ONE OCCUR.>>ARE YOU DOING ANY PLANNING OR>>ARE YOU DOING ANY PLANNING OR ARE YOU GOING TO BE DIRECTING ARE YOU GOING TO BE DIRECTING YOUR ADMINISTRATION TO PLAN FOR YOUR ADMINISTRATION TO PLAN FOR THE POSSIBILITY OF A RECESSION? THE POSSIBILITY OF A RECESSION?>>I DON’T SEE A RECESSION.>>I DON’T SEE A RECESSION. I MEAN, THE WORLD IS IN A I MEAN, THE WORLD IS IN A RECESSION RIGHT NOW. RECESSION RIGHT NOW. AND ALTHOUGH THAT’S TOO BIG A AND ALTHOUGH THAT’S TOO BIG A STATEMENT. STATEMENT. HONESTLY, I’M PREPARED FOR HONESTLY, I’M PREPARED FOR EVERYTHING. EVERYTHING. I DON’T THINK WE’RE HAVING A I DON’T THINK WE’RE HAVING A RECESSION. RECESSION. WE’RE DOING TREMENDOUSLY WELL. WE’RE DOING TREMENDOUSLY WELL. OUR CONSUMERS ARE RICH. OUR CONSUMERS ARE RICH. I GAVE A TREMENDOUS TAX CUT. I GAVE A TREMENDOUS TAX CUT. THEY’RE LOADED UP WITH MONEY. THEY’RE LOADED UP WITH MONEY.>>LOADED UP WITH MONEY.>>LOADED UP WITH MONEY. I LOVE THE WAY HE TALKS, GROSSLY I LOVE THE WAY HE TALKS, GROSSLY CONVERSATIONAL THERE. CONVERSATIONAL THERE. ASIDE THAT ROSY OUTLOOK, ASIDE THAT ROSY OUTLOOK, PRIVATELY TRUMP IS GROWING PRIVATELY TRUMP IS GROWING INCREASINGLY WORRIED THE ECONOMY INCREASINGLY WORRIED THE ECONOMY WON’T LOOK SO GOOD COME ELECTION WON’T LOOK SO GOOD COME ELECTION DAY. DAY. I’M JOINED NOW BY FORMER U.S. I’M JOINED NOW BY FORMER U.S. CONGRESSMAN BARNY FRANK OF CONGRESSMAN BARNY FRANK OF MASSACHUSETTS. MASSACHUSETTS. THE WHITE HOUSE REPORTER FOR NPR THE WHITE HOUSE REPORTER FOR NPR AND CHARLIE SYKES IS EDITOR AND AND CHARLIE SYKES IS EDITOR AND CHIEF OF THE BULWARK. CHIEF OF THE BULWARK. I DON’T KNOW WHAT HE’S TALKING I DON’T KNOW WHAT HE’S TALKING ABOUT, THE BUREAU OF LABOR ABOUT, THE BUREAU OF LABOR STATISTICS, THE CONGRESS STATISTICS, THE CONGRESS DEPARTMENT RUN BY HIS FRIEND DEPARTMENT RUN BY HIS FRIEND WILBUR ROSS, WHERE ARE THESE WILBUR ROSS, WHERE ARE THESE PHONY NUMBERS COMING FROM? PHONY NUMBERS COMING FROM?>>WELL, DONALD TRUMP ALWAYS>>WELL, DONALD TRUMP ALWAYS WANTS TO HAVE HIS OWN REALITY, WANTS TO HAVE HIS OWN REALITY, RIGHT? RIGHT? AND, UNFORTUNATELY, HE KNOWS HE AND, UNFORTUNATELY, HE KNOWS HE OWNS THE ECONOMY. OWNS THE ECONOMY. THIS IS THE STRONGEST CARD HE THIS IS THE STRONGEST CARD HE HAS FOR RE-ELECTION. HAS FOR RE-ELECTION. HOW ELSE IS HE GOING TO EXPLAIN HOW ELSE IS HE GOING TO EXPLAIN THIS EXCEPT THERE ARE PEOPLE THIS EXCEPT THERE ARE PEOPLE PLOTTING AGAINST HIM. PLOTTING AGAINST HIM. DON’T PAY ATTENTION TO WHAT YOUR DON’T PAY ATTENTION TO WHAT YOUR EYES ARE TELLING YOU, LISTEN TO EYES ARE TELLING YOU, LISTEN TO WHAT I AM SAYING. WHAT I AM SAYING. THIS IS A VERY DANGEROUS THIS IS A VERY DANGEROUS SITUATION FOR A PRESIDENT OF THE SITUATION FOR A PRESIDENT OF THE UNITED STATES WHO INSISTS ON UNITED STATES WHO INSISTS ON HAVING HIS OWN ALTERNATIVE HAVING HIS OWN ALTERNATIVE REALITY. REALITY. OF COURSE YOU HAVE THE COGNITIVE OF COURSE YOU HAVE THE COGNITIVE DISSONANCE. DISSONANCE. IF THERE IS NO RECESSION, WHY IS IF THERE IS NO RECESSION, WHY IS HE PRESSURING THE FED FOR 100 HE PRESSURING THE FED FOR 100 BASIS POINT RATE CUT? BASIS POINT RATE CUT? WHY ARE HIS STAFFERS NOW TALKING WHY ARE HIS STAFFERS NOW TALKING ABOUT PROPOSING A POSSIBLE ABOUT PROPOSING A POSSIBLE PAYROLL TAX CUT? PAYROLL TAX CUT? SO HE HASN’T GOTTEN HIS STORY SO HE HASN’T GOTTEN HIS STORY STRAIGHT YET, HAS HE? STRAIGHT YET, HAS HE?>>WELL, AISHA, YOU KNOW THE>>WELL, AISHA, YOU KNOW THE STORY. STORY. IS HE AWARE THAT THE ECONOMIC IS HE AWARE THAT THE ECONOMIC NEWS IS REAL? NEWS IS REAL?>>WELL, I DON’T KNOW — I WOULD>>WELL, I DON’T KNOW — I WOULD THINK THAT THEY WOULD KNOW THAT THINK THAT THEY WOULD KNOW THAT THE ECONOMIC NEWS IS REAL. THE ECONOMIC NEWS IS REAL. IT’S COMING FROM HIS OWN IT’S COMING FROM HIS OWN ADMINISTRATION. ADMINISTRATION. IT’S COMING FROM THE FEDERAL IT’S COMING FROM THE FEDERAL GOVERNMENT. GOVERNMENT. BUT WHAT I THINK PRESIDENT TRUMP BUT WHAT I THINK PRESIDENT TRUMP WANTS TO TRY TO DO NOW IS TRY TO WANTS TO TRY TO DO NOW IS TRY TO PUT THE ATTENTION ON SOMEONE PUT THE ATTENTION ON SOMEONE ELSE AND SAY THAT IF THERE IS ELSE AND SAY THAT IF THERE IS BAD NEWS, IT’S NOT MY FAULT, BAD NEWS, IT’S NOT MY FAULT, IT’S JAY POWELL’S FAULT, IT’S IT’S JAY POWELL’S FAULT, IT’S THE FAULT OF THE MEDIA, IT’S THE THE FAULT OF THE MEDIA, IT’S THE DEMOCRATS AGAINST ME — DEMOCRATS AGAINST ME –>>YEAH, BUT IS THE FAULT FOR>>YEAH, BUT IS THE FAULT FOR THERE BEING A REAL ECONOMIC THERE BEING A REAL ECONOMIC RECESSION COMING OR SOMEBODY RECESSION COMING OR SOMEBODY SAID THERE IS ONE COMING? SAID THERE IS ONE COMING? BECAUSE WHEN UNEMPLOYMENT STARTS BECAUSE WHEN UNEMPLOYMENT STARTS TO RISE AGAIN, WHICH IT TO RISE AGAIN, WHICH IT APPARENTLY WILL AT SOME POINT. APPARENTLY WILL AT SOME POINT. IT’S A LAGGING INDICATOR. IT’S A LAGGING INDICATOR. THAT’S REAL. THAT’S REAL.>>AND THAT’S THE ISSUE.>>AND THAT’S THE ISSUE. BECAUSE YOU CAN’T TALK YOUR WAY BECAUSE YOU CAN’T TALK YOUR WAY OUT OF THAT AND YOU CAN’T JUST OUT OF THAT AND YOU CAN’T JUST BLAME SOMEONE ELSE IF THERE ARE BLAME SOMEONE ELSE IF THERE ARE REAL ECONOMIC PROBLEMS. REAL ECONOMIC PROBLEMS. IT DOES SEEM LIKE THIS IT DOES SEEM LIKE THIS ADMINISTRATION IS TAKING IT ADMINISTRATION IS TAKING IT SERIOUSLY. SERIOUSLY. NOW, I TALKED TO A WHITE HOUSE NOW, I TALKED TO A WHITE HOUSE OFFICIAL WHO SAID THEY’RE NOT OFFICIAL WHO SAID THEY’RE NOT CONSIDERING A PAYROLL TAX CUT CONSIDERING A PAYROLL TAX CUT RIGHT NOW, BUT THEY ARE RIGHT NOW, BUT THEY ARE CONSIDERING PUSHING OTHER TAX CONSIDERING PUSHING OTHER TAX CUTS RIGHT NOW. CUTS RIGHT NOW. SO THAT TO ME SOUNDS LIKE AN SO THAT TO ME SOUNDS LIKE AN ADMINISTRATION THAT’S CONCERNED ADMINISTRATION THAT’S CONCERNED ABOUT THE ECONOMY. ABOUT THE ECONOMY.>>CONGRESSMAN FRANK, WHAT DO>>CONGRESSMAN FRANK, WHAT DO YOU THINK ABOUT THIS WITH TRUMP? YOU THINK ABOUT THIS WITH TRUMP? I DIDN’T KNOW THIS WAS COMING. I DIDN’T KNOW THIS WAS COMING. ALL OF A SUDDEN A CUP OFOUPLE OF ALL OF A SUDDEN A CUP OFOUPLE OF WEEKS AGO WE HEAR LEADING WEEKS AGO WE HEAR LEADING INDICATESERS OF TROUBLE. INDICATESERS OF TROUBLE. HE IS DENYING THE RED FLAGS OR HE IS DENYING THE RED FLAGS OR BLAMING THEM ON SOMEBODY ELSE. BLAMING THEM ON SOMEBODY ELSE.>>THE SOMEBODY ELSE, BY THE>>THE SOMEBODY ELSE, BY THE WAY, IS NOT CHAIRMAN POWELL. WAY, IS NOT CHAIRMAN POWELL. HE HAS APPOINTED SEVERAL FED HE HAS APPOINTED SEVERAL FED GOVERNORS. GOVERNORS. HE OWNS THE FED. HE OWNS THE FED. HE’S APPOINTED SEVERAL PEOPLE HE’S APPOINTED SEVERAL PEOPLE THERE. THERE. OF COURSE IT’S A PATTERN WHERE OF COURSE IT’S A PATTERN WHERE DONALD TRUMP CLAIMING TO BE THE DONALD TRUMP CLAIMING TO BE THE CHIEF EXECUTIVE. CHIEF EXECUTIVE. ONE OF THE THINGS YOU WANT FROM ONE OF THE THINGS YOU WANT FROM AN EXECUTIVE IS TO APPOINT GOOD AN EXECUTIVE IS TO APPOINT GOOD PEOPLE. PEOPLE. BY DONALD TRUMP’S JUDGEMENT, HE BY DONALD TRUMP’S JUDGEMENT, HE HAS APPOINTED INCOMPETENT PEOPLE HAS APPOINTED INCOMPETENT PEOPLE IN LAW ENFORCEMENT, THE ECONOMY, IN LAW ENFORCEMENT, THE ECONOMY, NATIONAL SECURITY AND THE NATIONAL SECURITY AND THE FOREIGN POLICY OF THE UNITED FOREIGN POLICY OF THE UNITED STATES. STATES. THOSE ARE ALL PEOPLE HE THOSE ARE ALL PEOPLE HE DENOUNCES HAVING APPOINTED. DENOUNCES HAVING APPOINTED. I THINK WHAT HE’S DOING IS KIND I THINK WHAT HE’S DOING IS KIND OF TRICKY FOR HIM. OF TRICKY FOR HIM. IF YOU LOOK AT WHO IS NOW IF YOU LOOK AT WHO IS NOW TALKING IN A WAY THAT SUGGESTS TALKING IN A WAY THAT SUGGESTS THERE’S WEAKNESS IN THE ECONOMY, THERE’S WEAKNESS IN THE ECONOMY, NUMBER ONE IS DONALD TRUMP. NUMBER ONE IS DONALD TRUMP. THERE IS NO WAY YOU WOULD BE THERE IS NO WAY YOU WOULD BE BANGING AWAY AT YOUR OWN BANGING AWAY AT YOUR OWN APPOINTEES AT THE FEDERAL APPOINTEES AT THE FEDERAL RESERVE SUBSTANTIALLY TO REDUCE RESERVE SUBSTANTIALLY TO REDUCE INTEREST RATES AND MAYBE BACK ON INTEREST RATES AND MAYBE BACK ON THE QUANTITATIVE EASING IF YOU THE QUANTITATIVE EASING IF YOU DIDN’T THINK THERE WAS TROUBLE DIDN’T THINK THERE WAS TROUBLE COMING. COMING. NOW HE’S GOT THIS DILEMMA NOW HE’S GOT THIS DILEMMA BECAUSE HE IS, IN FACT, BY BECAUSE HE IS, IN FACT, BY BANGING AWAY AT THE FED BANGING AWAY AT THE FED CONTRIBUTING TO THIS NOTION, BUT CONTRIBUTING TO THIS NOTION, BUT HE’S TAKING OUT RECESSION HE’S TAKING OUT RECESSION INSURANCE. INSURANCE. I THINK IT’S PRETTY CLEAR THAT I THINK IT’S PRETTY CLEAR THAT TRUMP IS BEING WARNED THAT THE TRUMP IS BEING WARNED THAT THE RUSH THAT WE GOT FROM HIS TAX RUSH THAT WE GOT FROM HIS TAX CUT FOR THE VERY RICH IS CUT FOR THE VERY RICH IS PIDDLING OUT AND THAT THINGS ARE PIDDLING OUT AND THAT THINGS ARE GOING TO START TO TURN DOWN AND GOING TO START TO TURN DOWN AND HE’S DESPERATELY TRYING TO BLAME HE’S DESPERATELY TRYING TO BLAME SOMEBODY ELSE WHEN THE BAD NEWS SOMEBODY ELSE WHEN THE BAD NEWS COMES. COMES.>>CHARLIE, HERE’S MY QUESTION.>>CHARLIE, HERE’S MY QUESTION. THIS WAS, YOU KNOW, LIKE AN THIS WAS, YOU KNOW, LIKE AN HISTORIC TAX CUT. HISTORIC TAX CUT. IT WAS WRONG — WRONG IN ITS IT WAS WRONG — WRONG IN ITS VALUES, WRONG IN ITS VALUES, WRONG IN ITS DISTRIBUTION, EVERYTHING IS DISTRIBUTION, EVERYTHING IS WRONG ABOUT IT. WRONG ABOUT IT. I DON’T KNOW ANY REGULAR PEOPLE I DON’T KNOW ANY REGULAR PEOPLE WHO GOT ANYTHING OUT OF IT. WHO GOT ANYTHING OUT OF IT. MOST IMPORTANTLY, IT HAD NO MOST IMPORTANTLY, IT HAD NO MACRO ECONOMIC JUICE TO IT. MACRO ECONOMIC JUICE TO IT. NOTHING REALLY GOT GOING WITH NOTHING REALLY GOT GOING WITH THE ECONOMY. THE ECONOMY. IT WASN’T A SUPPLY SIDE OR ANY IT WASN’T A SUPPLY SIDE OR ANY KIND OF TENSION CUT THAT BROUGHT KIND OF TENSION CUT THAT BROUGHT LONG TERM — NOW THEY’RE LONG TERM — NOW THEY’RE WHISPERING ABOUT A PAYROLL TAX, WHISPERING ABOUT A PAYROLL TAX, WHICH BASICALLY, YOU KNOW, WE WHICH BASICALLY, YOU KNOW, WE HAVE AN UNDERFUNDED MEDICARE HAVE AN UNDERFUNDED MEDICARE ACCOUNT, SOCIAL SECURITY AND ALL ACCOUNT, SOCIAL SECURITY AND ALL THAT STUFF, BUT TO JUST START THAT STUFF, BUT TO JUST START PLAYING AROUND WITH A LITTLE CAP PLAYING AROUND WITH A LITTLE CAP PISTOL LIKE THAT THAT HAS A PISTOL LIKE THAT THAT HAS A SHORT-TERM IMPACT. SHORT-TERM IMPACT. TEMPORARY CUT IN PAYROLL TAX TEMPORARY CUT IN PAYROLL TAX SOUNDS LIKE A BAND-AID. SOUNDS LIKE A BAND-AID. WHAT DO YOU THINK? WHAT DO YOU THINK?>>IT’S DEFINITELY A BAND-AID.>>IT’S DEFINITELY A BAND-AID. HERE’S THE PROBLEM, THEY FIRED HERE’S THE PROBLEM, THEY FIRED ALL THE BULLETS THEY WOULD HAVE ALL THE BULLETS THEY WOULD HAVE HAD. HAD. WE’VE HAD VIRTUALLY ZERO WE’VE HAD VIRTUALLY ZERO INTEREST RATES FOR SO LONG AND INTEREST RATES FOR SO LONG AND THE TAX CUT HAS CREATED A THE TAX CUT HAS CREATED A TRILLION A YEAR DEFICIT. TRILLION A YEAR DEFICIT. IF THE COUNTRY DOES PLUNGE INTO IF THE COUNTRY DOES PLUNGE INTO A RECESSION, HOW IS CONGRESS AND A RECESSION, HOW IS CONGRESS AND THE PRESIDENT GOING TO BE ABLE THE PRESIDENT GOING TO BE ABLE TO DEAL WITH IT? TO DEAL WITH IT? ARE THEY GOING TO EXPAND THE ARE THEY GOING TO EXPAND THE DEFICIT BEYOND $1 TRILLION? DEFICIT BEYOND $1 TRILLION? ARE THEY GOING TO HAVE A MASSIVE ARE THEY GOING TO HAVE A MASSIVE SPENDING PROGRAM, MORE TAX CUTS? SPENDING PROGRAM, MORE TAX CUTS? THIS IS PART OF THE PROBLEM, THIS IS PART OF THE PROBLEM, THAT THEIR OPTIONS ARE THAT THEIR OPTIONS ARE COMPLETELY LIMITED HERE. COMPLETELY LIMITED HERE.>>THANK YOU.>>THANK YOU. BARNY, THAT’S THE SAME THING I BARNY, THAT’S THE SAME THING I KEEP THINKING ABOUT, A KEEP THINKING ABOUT, A TRILLION-DOLLAR DEFICIT TO START TRILLION-DOLLAR DEFICIT TO START WITH. WITH. WHAT’S LEFT IN YOUR TOOLBOX WHEN WHAT’S LEFT IN YOUR TOOLBOX WHEN YOU’RE REALLY FACING A HORROR? YOU’RE REALLY FACING A HORROR?>>YOU’RE RIGHT.>>YOU’RE RIGHT. I MEAN, TRUMP RETIRES THE TROPHY I MEAN, TRUMP RETIRES THE TROPHY AS THE UBER KINGSIAN OF ALL AS THE UBER KINGSIAN OF ALL TIME. TIME. HE HAS DONE MORE TO STIMULATE IN HE HAS DONE MORE TO STIMULATE IN THE SHORT TERM THE ECONOMY WITH THE SHORT TERM THE ECONOMY WITH FISCAL DEFICITS AND TAX CUTS. FISCAL DEFICITS AND TAX CUTS. AND HERE’S THE PROBLEM. AND HERE’S THE PROBLEM. ONE LOGICAL THING TO DO RIGHT ONE LOGICAL THING TO DO RIGHT NOW WOULD BE TO BEGIN TO NOW WOULD BE TO BEGIN TO IMPLEMENT A GOOD INFRASTRUCTURE IMPLEMENT A GOOD INFRASTRUCTURE PROGRAM. PROGRAM.>>YEAH.>>YEAH.>>TO PROVIDE EMPLOYMENT.>>TO PROVIDE EMPLOYMENT. TO PROVIDE EMPLOYMENT TO PEOPLE TO PROVIDE EMPLOYMENT TO PEOPLE WHO DIDN’T NECESSARILY GO TO WHO DIDN’T NECESSARILY GO TO COLLEGE. COLLEGE. TO INCREASE THE PRODUCTIVITY. TO INCREASE THE PRODUCTIVITY. THE PROBLEM — THE FUNDAMENTAL THE PROBLEM — THE FUNDAMENTAL PRE-EMPT PRE-EMPT PROBLEM IS HE SPENT THE PROBLEM IS HE SPENT THE INFRASTRUCTURE MONEY ON THE TAX INFRASTRUCTURE MONEY ON THE TAX CUT FOR THE VERY RICH. CUT FOR THE VERY RICH.>>THANK YOU.>>THANK YOU.>>THE ARGUMENT WAS THIS WOULD>>THE ARGUMENT WAS THIS WOULD IMPROVE PRODUCTIVITY. IMPROVE PRODUCTIVITY. THEY’VE GONE AWAY FROM THAT. THEY’VE GONE AWAY FROM THAT. REMEMBER, THE ARGUMENT WAS IF WE REMEMBER, THE ARGUMENT WAS IF WE GET THE TAX CUT FOR GET THE TAX CUT FOR CORPORATIONS, WE’LL GET 3% CORPORATIONS, WE’LL GET 3% GROWTH. GROWTH. NO ONE THINKS THAT’S COMING. NO ONE THINKS THAT’S COMING. SO THE FUNDAMENTAL CURSE THAT SO THE FUNDAMENTAL CURSE THAT THIS ADMINISTRATION INFLICTED ON THIS ADMINISTRATION INFLICTED ON ITSELF WAS IN THE FIRST YEAR TO ITSELF WAS IN THE FIRST YEAR TO TAKE THE MONEY THAT SHOULD HAVE TAKE THE MONEY THAT SHOULD HAVE GONE FOR A SENSIBLE GONE FOR A SENSIBLE INFRASTRUCTURE PROGRAM, THERE INFRASTRUCTURE PROGRAM, THERE COULD HAVE BEEN A BIPARTISAN COULD HAVE BEEN A BIPARTISAN ONE, AND PUT IT INTO A TAX CUT ONE, AND PUT IT INTO A TAX CUT FOR THE RICH WHICH HAD A FOR THE RICH WHICH HAD A SHORT-TERM EFFECT AND NO SHORT-TERM EFFECT AND NO LONG-TERM BENEFIT. LONG-TERM BENEFIT.>>AYESHA, THE SAME WAY THE>>AYESHA, THE SAME WAY THE FORMER CONGRESSMAN PUTS IT, I FORMER CONGRESSMAN PUTS IT, I THINK YOU ONLY HAVE A FEW TOOLS THINK YOU ONLY HAVE A FEW TOOLS IN YOUR CHEST. IN YOUR CHEST. YOU CAN CUT SPENDING. YOU CAN CUT SPENDING. RAISE INFLATION. RAISE INFLATION. CUT TAXES DURING A POTENTIAL CUT TAXES DURING A POTENTIAL RECESSION YOU CAN WORK MONETARY RECESSION YOU CAN WORK MONETARY POLICY TO SOME EXTENT TO CREATE POLICY TO SOME EXTENT TO CREATE MORE MONEY. MORE MONEY. IF IT’S GOING TO BE INVESTED. IF IT’S GOING TO BE INVESTED. RIGHT NOW I’M HEARING THE RIGHT NOW I’M HEARING THE COUNTRY, THE RICH PEOPLE ARE COUNTRY, THE RICH PEOPLE ARE SWILLING, SWIRLING WITH CASH. SWILLING, SWIRLING WITH CASH. THEY DON’T WANT TO INVEST IT. THEY DON’T WANT TO INVEST IT. THEY DON’T BELIEVE IN IT. THEY DON’T BELIEVE IN IT. THEY DON’T WANT BELIEVE IN THIS THEY DON’T WANT BELIEVE IN THIS ROCK ’EM SOCK ’EM ECONOMY OF ROCK ’EM SOCK ’EM ECONOMY OF TRUMP’S. TRUMP’S. THEY BOUGHT BACK STOCK AT THE THEY BOUGHT BACK STOCK AT THE CORPORATE LEVEL. CORPORATE LEVEL. THEY BENEFITTED FROM IT IN TERMS THEY BENEFITTED FROM IT IN TERMS OF THEIR OWN WEALTH. OF THEIR OWN WEALTH. YOU BUY BACK STOCK, YOU OWN YOU BUY BACK STOCK, YOU OWN MORE, RIGHT? MORE, RIGHT?>>YEAH.>>YEAH.>>EVERYTHING WORKED OUT FOR>>EVERYTHING WORKED OUT FOR THEM. THEM. NOW WE HAVE A SITUATION WITH NO NOW WE HAVE A SITUATION WITH NO MORE TOOLS. MORE TOOLS. FACING PERHAPS ECONOMIC TROUBLE. FACING PERHAPS ECONOMIC TROUBLE.>>AND THAT’S THE FEAR, IS WHAT>>AND THAT’S THE FEAR, IS WHAT HAPPENS NOW IF THERE IS A HAPPENS NOW IF THERE IS A RECESSION, IS PRESIDENT TRUMP, RECESSION, IS PRESIDENT TRUMP, IS THIS ADMINISTRATION READY FOR IS THIS ADMINISTRATION READY FOR IT? IT? AND THIS IS NOT AN AND THIS IS NOT AN ADMINISTRATION THAT HAS BEEN ADMINISTRATION THAT HAS BEEN GREAT WITH CRISES AND USUALLY GREAT WITH CRISES AND USUALLY IT’S CREATING THE CRISIS ON THE

100 thoughts on “3 In 4 Economists See A Recession By End Of 2021 | Hardball | MSNBC

  1. Lol poor fakenews CNN and MSNBC. America and Trump doing fantastic and fakenews CNN and MSNBC hate that. Cheers from Toronto

  2. Omg! He's already trying to set the stage to blame EVERYONE but himself for his failure in the economy. He signed the tax cut for the rich, working people paid $93 billion more in taxes in 2018 and guess who paid $93 billion less? The 1% ultra rich! Working people picked up their share of the tax bill. TRUMP TRADE WARS!!! His own trade war policies have hurt the U.S. AGAINST EVERY EXPERT'S ADVICE!! tRump went ahead and started the trade wars. There is no one to blame but tRump. And when this recession hits, remember who cost you your job and how his uninformed, off the cuff, swing by the seat of your pants, policy decisions put you out on the street. Say thank you to mr. tRump.

  3. It's going to get worse for the meat processing plants that were rated with illegal immigrants, we are Boycotting the meats from this plants until they get charged for hiring illegals in stead of Americans.

  4. Democrat fake news liberal media scam. If. Mr. Trump wins in ' 20 , well Trump caused a recession; if Democrats win , they blame Trump. Nice having it both ways…..

  5. Trump never admits his own faults. I think he knows the problems of US. However, his executions were poor. He has 3rd. class team work for him. Those staffs in his team are "YES" men and women. No one has an idea about what they are doing. There job is to cover Trump's butt and lie for him.

  6. When we get him out he's free to be jailed and his little evangelical chabad minions,if he is reelected goodbye to s.s.i. and health insurance and anything but more money for the rich

  7. Trump inherits a good economy from Obama, like he inherited wealth from his father. He is the only looser in American history to squander his wealth, loose a billion dollars and he will add to his disastrous resume, crashing the economy. If this is winning I hate to see what losing means.

  8. WARREN / 2020 / BOOKER / BE A BELIEVER } I Believe Elizabeth Has A Plan : I believe capitalism needs a serious makeover. It's not merely that it's turned into Corruptism, whereas the bigger problem is with who is in control due to deregulation, and yet still to a finer point; what they have done with it. While the rest of the economy keeps struggling along just to catch up.. and only then to watch the cronies skim the cream off the top again… and again.

  9. Jeez, people are dumb. Trump is right by blaming the federal reserve. They tank the economy with interest rates. Also, even with the stock market going down a bit, let's not forget it's still higher than when Trump first took office.

  10. Off Topic. . . If I may.

    Barney Frank and Bernie Sanders 2020!!! It would be like Stafford and Waldorf, the two old guys in the theater booth on the Muppets. . . I would love that! And the policies would be fantastic and they would not take any lip!

    #SandersFrank2020NowMoreThanEver

  11. The Recession has already started as Americans can no longer afford to buy what’s being sold
    And why wages are being controlled

    – This is the REAL purpose of closing businesses like Sears etc
    in favor of the Monopolies like the Amazons for the rich and the Walmart’s for the middle low classes.

    Trump told the truth that the rich are loaded up with money(the gold) and guns,
    thanks to his establishment and the trickle down of crumbs and drugs for the slaves.

    But even more important, The NBC News has just admitted, they don’t know what’s happening (here on this Program)

    And that they (the Christopher’s) didn’t know what was coming,
    – Verifying once and for All the TRUTH
    that all News is Faked.

  12. 3 democrats and 1 Republican, recession is better than the 8 years of Obama, high taxes, no profit, regulation out the wazoo!

  13. Wages are stagnant most American workers are struggling to get by well Trump cuts taxes for the richest most of us are one medical problem away from bankruptcy he doesn't care

  14. So this is what Trump was saying about making America great again. All I have seen is all he has done is dived this country and destroy the the economy. Oh I almost forgot about the tax cut for the top 1%.meanwhile all of the other Americans pay 90 billion dollars more. It’s time to get rid of this loser! Dump Trump 2020

  15. tRUMP's PERMANENT tax cut for billionaires and corporations includes tax incentives PAYOLA for U.S. corporations that create jobs OUT OF the U.S. None of his cult know this.

  16. "we" us 1% I gave the biggest tax break ever to,are rolling in money,we will not suffer a recession,so dont worry about The Donald,you taxpaying chumps have my children and me laughing all the way to the bank every month.trust me,you will see.strange that trump has no clue to the fact that working class people know they didnt benefit from any tax breaks.those who blindly follow him are in for a worse shock if he gets re-elected.

  17. Lol 74% economists say…. who gives a … more work = more money. Productivity. The next crash will end the banking cartels.

  18. Resident Orange is such a CHILD. It’s baffling how he never takes responsibility for his actions. He takes credit for what others created and blames others for his failures.

  19. We have never seen a more stupid president.  Obama gave him a fat cow that give a ton of milk and a hen that lays golden eggs.  trump for got to feed them and give them clean water.  Now it looks like the cow's milk is drying up and the Hen will not lay eggs.  The tax cuts  made up all pay more taxes when filing for 2017 and 2018.  Now we must pay more in 2019 and 2020. So a payroll tax cut will only give you about $20  more a paycheck, but you still have to pay over $1,000 more when you file for the year.  Two faced lying trump screws us again

  20. Trump: "I dont see a recession"
    Also Trump: (on same breath even)
    "The world is in a recession"
    GOP, this is your stable genius…

  21. Well we know that the doctors were correct about Crest tooth paste !The Scientist were correct about the coming Ice age and mass starvation and the pundits were correct about Trump having no chance of winning .
    The pres ask some stupid questions and Chris is a rummy with a tingle

  22. Ok, I get it: everything that goes right is because of Trump; everything that goes wrong is because of everyone else. This is win-win for Trump.

  23. Hard ash why do you present visitors to the show as Trump Hating Dems . If you did that it would give you some credibility. Hard -ash.

  24. Trump is taken America into a wall of recession by his actions only,he will blame others for his own actions in the China wall of recession,is he waiting for charges heading towards him,of his time with Epstein and Barr actions in the jail system,with how many have now gone to jail that worked for Trump,

  25. This happens every single time Republicans are in power. How anyone could vote for a Republican is beyond me.

  26. HC is not your president Chris …get use to it …We know you all were humiliated !   DT2O2O ..the economy is fine…Stop trying to scare people for ratings .that's is so desperate ..China has been ripping us off for years ..its time America stood up …Dems do ZERO ….the tax cuts is great for many of us ..more jobs and higher pay checks ..wake up or listen to these comedians !

  27. "The only problem our economy has is the Fed" … so says stable genius trump. Really? How about tariffs imposed willy nilly without fore thought? Or government shut downs over a wall that Mexico won’t pay for? Or a ballooning federal deficit because of tax cuts that aren’t paying for themselves? Or a complete dysfunction and utter chaos in the WH now aggravated even more by the deliberate reckless dismantling of national security? And the nonsensical tweeting about firing the chairman of the Federal Reserve doesn’t help either.

  28. The economic recovery has been going on for ten years at a consistent unrelenting determined pace since the catastrophic Bush recession. Yet in the ninth year of the recovery trump asserts he inherited "a mess" and incredibly claims ownership for the “success” of the whole ten years, including the low unemployment rate. In truth trump's been blithely riding the economic recovery success coattails of his predecessor .. and now in the process of destroying it.

  29. What’s with this really outrageous weird stupid habit of trump’s meeting the press backed by loud helicopter noise? It is obviously deliberate so that reporters have to shout their questions and trump can yell back with his irritating blustering swagger? It’s plainly arrogant uncaring, inconsiderate and plain stupid. This guy is no president … he’s a phony and a coward!

  30. Whatever happens, it'll be someone else's fault. He'll profit from it though as long as he keeps charging the government for his visits to his own golf clubs and MAGA-Lago.

  31. djt – "I don't see a recession the world is in recession" this is so trumpian, taking all sides and trying to cover all bases at the same time, no wonder his supporters hear what they want to hear.

  32. Trump is riding on the economic success of Obama last four years and Trump is getting us in a recession because of the Tariff war with China.

  33. Gold is at 1500 from 1200 a year ago. Trade with China is the worst we've seen in years. International relations are worse than ever. 47.5 a barrel of oil July 2018, 61.5 a barrel in July 2019. What's coming? Its happening now!! The $ is losing traction and pulling back, and has been for the last 6 months at least!

  34. OH REALLY???
    STUPID DEMON RATS FALSE CLAIMS.
    THE END OF 2021… SO YOU THINK YOU STUPID MORON DEMS WILL SAVE IT ON 2020.
    HOW PATHETIC BY THE LOSER DEMS. THE REASON WHY THE CHINESE BACKED OFF FROM THE DEAL THEY HAD ALREADY AGREED UPON WITH TRUMP BUT WAS SABOTAGED BY DEMON RATS.
    TRUMP HAS PROVEN THEM WRONG TIME AND TIME AGAIN.
    THEY CLAIMED HE WOULD START WW3, WOULD END THE WORLD, WOULD CAUSE RECESSION AFTER HIS ELECTION, NOW THE STUPID DEMON RATS THROW THE FISH HOOK OUT FURTHER TO 2021 NOW… THE DEMON RATS ARE CLUELESS.

  35. FAKE NEWS once again spewing projection, whatifs and conjecture..(we've had Russian Collusion then Conspiracy with millions spent on a futile investigation, now it's Recession)..and all the breathless berating on those associated with the President ie; Kavanagh and the LIES that were spewed once again from the left wing media aka demos on him alone is breathtakingly partisan pointing to an animus that is so bad it beggars belief..that and that alone is what is driving the country apart..Trump is doing what he said he would do and somehow only known to the demos don't like that..how could you wish for a recession as they do just to overturn a sitting president..it's insanity!

  36. But see, trump is much more smarter and has great words,some would say the best words. All the educated people who KNOW what is going on are wrong😂😂😂

  37. The media says that everything Rump says is a lie…. than they take what he says literally.. the media are exactly as bad as Rump… they repeat everything he says no matter how "nutty"…. then discus the lunacy!

  38. We the People blame gop for bankrupting American children by $1 trillion dollars in debt from this Steve Miller administration!

  39. This president put tax cuts in effect for when he comes out of office. The cuts are as everything he does. They are for his own seflish psychopathic purposes….

  40. Obama deserves blame for the coming recession. He gave us only 10 years of steady economic growth after the worst recession in 50 years (thanks to G.W. Bush). He shoulda done better. It's not Trump's fault that Obama left him a mess.

  41. Everything is a conspiracy theory with these right wing nut jobs – anything that makes them look bad or makes them uncomfortable , any fact they don't like is a conspiracy , it's a false flag . They are divorced from reality

  42. These are just hard core left trying to fool you. The unemployment rate is the lowest in 60 years. More Americans working now than ever before. Consumer confidence at all time high. There is no recession coming this is just a new tactic the Democrats are trying.

  43. Hopefully he runs it into the ground by the 2020 election. That way when the Democrats sweep the board they are in position to make grand change to the fundamental construct of our society.

  44. According to Trump's Republican Party, 3 of the 4 economists are fake ones. To get the real news on the state of the US economy, best to listen to the fuckwit who bankrupted The Taj Mahal Casino… and the Trump Castle Casino… and the Trump Plaza Casino… and the Trump Casino Resort… and the Trump Plaza Hotel… and the Trump Entertainment Resort…

  45. He's sold the USA democracy to Putin and weakened the economy. Putin's so happy with the effort he put in back in 2016……it's paying off bigly!

  46. You leftist fools have no idea of the pleasure I get from watching the meltdowns of idiots like you every day. You're a constant source of amusement. Mocking and laughing at leftist whiners like you makes my day. Tell me more about Trump and collusion I need a good laugh.

  47. Democrats are SO SICK IN THE FN HEAD they're praying for a recession so they can win the White House. Sick Mfers.

  48. Americans should all listen and believe a guy who has bankrupted 5 businesses. When one business is shut, just move forward and start another sham business. So easy!😆

  49. The smartest thing Trick Trump could do right now is to admit that there is a very good possibility that we are headed for a recession. The worst thing he could do is to keep denying it. We all know which road he's decided to take and it will only backfire on him!

  50. Is it like Hilter and Stalin getting upset and screaming at their generals when they were loosing and accusing them of everything ?

  51. Kudlow isn’t the brightest to take that seat… take a look at his past economic analysis in the past all wrong!

  52. What’s left in their toolbox? The Nazi’s annexed land forcefully (Greenland, cough) and started exterminating people… Wake the F up people!!!

  53. Ohio lost 5000 jobs
    Oklahoma farmers are committing suicide
    100million people are behind on their mortgages and car notes
    It’s not 🤡trump fault
    America is great????????

  54. 13 bankruptcy but the idiots voted because they think Trump is a good business man laughable he bankrupt a casino he is the biggest loser

  55. Expecting recessions in a capitalist system is like expecting hurricanes in Florida. Yep, there gonna happen. But one can prepare for them and heed the clouds on the horizon.

  56. Question to ASK Trump is: If the Recession Do come in the near future between now and 2021, will you be blaming someone"

  57. His tax cut was only for the top 1%. The rest of us got nothing. Do not people realize that we got nothing nothing nothing. He has sunk our economy. and it affects the world economy all over the place He has no insight what so ever into what he has done to serve himself.

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