Dick Morris: Lib Recession Warnings Exposed as Fake News
All summer long, we have heard the dire predictions of a coming recession as they piled up in the newsrooms and news stations around the country.
But now, with the hard data of the August jobs report in hand, these cries of “wolf!” are exposed as fake news.
The repetition of gloomy forecasts and worried foreboding has become about as ubiquitous and as phony as the repeated discoveries of Russian collusion with Trump: two pieces of fake news, both designed to stop Trump — first from staying in office and then from being re-elected.
With 130,000 new jobs created last month, unemployment still at only 3.7 percent, wages growing at 3.2 percent, and the labor force growing by 600,000, this economy is far, far from a recession!
The massive Democrat/media conspiracy has had two objectives: At the very least to take the bloom off the rosy economic news and, at the most, to actually precipitate a real recession by undermining consumer confidence.
Added to the usual suspects of conspirators is the Chinese government and its acolytes, puppets, sycophants, investors and hirelings on Wall Street and in the financial media.
To win the trade war with America, China must push the U.S. towards a recession. A booming and growing economy lets Trump continue to squeeze Beijing with higher tariffs. Only a massive economic downturn will induce Trump to lighten up.
China’s fortunes in the trade war are dim. Exports from Beijing are down by $26 billion over the year, a gigantic blow to the Chinese economy that is one-third smaller than ours.
One suspects that among the Chinese tactics has been a tendency to feed drops on Wall Street to create the illusion of mass panic and political menace to the Trump administration.
The recent drop of more than 800 points in the Dow — a drop quickly corrected in the coming weeks — has all the hallmarks of a deliberately orchestrated financial media event.
(The Dow fell to 25,479 on Aug. 14 and to 25,608 on Aug. 23 only to recover and finish more than a thousand points higher on Sept. 6 at 26,728.)
In our modern political era, we are drowned by the chosen propaganda of the left day by day.
We are like the Soviet residents of old, scanning Pravda for the odd item of truth buried between the lines of the official news.
For us, the brief glimpse of truth and sunlight comes once a month when the fog of media deception lifts long enough for us to see the sky of good economic news.
It comes on the first Friday of the month when the guesswork and prognostication has to step aside so the real data of solid job growth can come out.
But, even then, the leftists in the financial news media cannot resist knocking the good news by attributing the job growth to census hiring and noting that the employment figures were lower than expected.
The fact that the U.S. economy has sailed on despite the headwinds of global recession (led by China) and the dire predictions of the media, is a tremendous testament to the strength of the economy engineered by President Trump and his economic advisor Larry Kudlow.
And so the phony narrative of a fragile economy goes on.
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