Political Quotes

“Mr. President, make no mistake about it, Donald Trump is teeing up a nationwide recession. Less than a week after Donald Trump started the largest, dumbest trade war in American history, all the signs say America is heading toward calamity. A report by JPMorgan entitled ``There Will Be Blood,'' warned these policies, if sustained, would likely push the United States and possibly the global economy into a recession this year. An update of our probability scenario tree makes this point, raising the risk of a recession this year to 60 percent. That is the conservative, cautious JPMorgan--60-percent chance of a recession. Barclays, meanwhile, said Donald Trump's tariffs will cause inflation to nearly double as America enters a recession. HSBC, Deutsche Bank, and Bank of America all said the same thing--the tariffs have made a recession more likely. And now, today, Goldman Sachs is the one saying ``danger.'' Some analysts say the damage is already done; $6 trillion of value has been wiped out. Any community in America that relies on trade or tourism or farming or energy or any wide range of industries is at risk of a recession. My State of New York, my city of New York, certainly, are at that risk and heading right in that direction, unfortunately. Consumer activity is going to go down. Demand is going to suffer. Unemployment is going up. And maybe worst of all, Donald Trump's tariff tax is the largest tax hike since before the Vietnam war.…”