Trump’s Trade War Could Make the Trump Recession a Reality


The New Yorker | August 14, 2019

The longer the President persists in his trade war with China, the greater the chances are of an outright slump developing in the U.S. economy.
Photograph by Andrew Harrer / Bloomberg / Getty

Economic forecasting is a bit of a mug’s game. Mature capitalist economies tend to plod along, growing at modest rates, until they don’t. Despite extensive efforts, nobody has discovered a reliable way to predict when that moment will arrive and, subsequently, a recession will begin. Sometimes there are warning signs, such as asset-market bubbles developing, inflation picking up, the Fed raising interest rates, and trade deficits soaring. But, even if some of these signs are flashing amber, as they were in the late nineteen-nineties and the period between 2005 and 2007, it’s hard to know when they are going to turn red. The lesson of recent U.S. history is that expansions tend to last longer than many people expect.

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Slaves: Millions around the world producing stuff for the consumers

A Journal of People report

Laborers working in factories in countries competing for securing stronghold in the world markets are not news today. Brands like Nike, Adidas, H&M, Gap, Zara, Armani, Lacoste and many such are directly or indirectly employing laborers in these factories is  also not news. Mainstream discussions almost ignore the laborers’ question.

However, horrifying reports on these laborers occasionally surface. Researchers have found slavery did not end with abolition in the 19th century. The method has just changed its form and appearance.

Any official legal definition of modern slavery is non-existent.Read More »

FACE OF AN ECONOMY: U.K. facing highest risk of recession since 2007

A Journal of People report

The U.K. is facing the highest risk of a recession since the financial crisis and needs urgent plans to combat the next downturn, according to an alarming assessment of the U.K.’s economic health.

The National Institute of Economic and Social Research, one of the UK’s leading economic forecasters, said last week that the UK would only “narrowly avoid a technical recession”, with growth of 0.2% in the third quarter following a decline of 0.1% in the second quarter.

A technical recession occurs with two consecutive quarters in which the economy shrinks.Read More »

Market’s morality: Teen Vogue promotes “real work” – sex work – for young girls

A Journal of People commentary

Teen Vogue has recently been blasted for “promoting sex work” as “real work” to young girls/

Teen Vogue published in April an article that advertised sex work as “real work” to its audience, which is made up mostly of girls between the ages of 12 and 18.

The magazine has to face backlash for “promoting prostitution” after publishing the article.

The article – “Why Sex Work Is Real Work” – got attention and criticism after the magazine decided to promote it on Twitter in mid-June.Read More »

The booming wellness market and suggestions on what to eat, but not the basic question

A Journal of People commentary

Articles write:

“Signs you may not be eating enough.”

“You want to feel better in your body, or desire to live in better health. There is a puzzle: Feel good in your skin. Micromanaging our food intake can feel soothing, especially if cutting calories or restricting food groups initially sparks weight loss.

“We are constantly encouraged to “resist” favorite foods.”

“There are a few tools that can keep in you healthy.”Read More »

Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018

Journal of People report

“Those wondering how many zeros Amazon, which is valued at nearly $800 billion, has to pay in federal taxes might be surprised to learn that its check to the IRS will read exactly $0.00”, wrote Fortune in a story on Amazon’s payment of Federal Income Tax (“Amazon Will Pay a Whopping $0 in Federal Taxes on $11.2 Billion Profits”, Laura Stampler, updated: February 15, 2019, originally published: February 14, 2019).

Bernie Sanders twitted: You know what Amazon paid in federal income taxes last year? Zero.Read More »