Former President Donald Trump has warned that America’s economy is on track for a bigger disaster than a recession, with his remarks coming shortly before government statistics showed GDP printing negative for the second consecutive quarter, which is a rule-of-thumb definition for a recession.
“Where we’re going now could be a very bad place,” Trump said at a rally in Arizona last week. “We got to get this act in order, we have to get this country going, or we’re going to have a serious problem.”
The former president singled out the collapse in Americans’ real wages, a historically depressed labor force participation rate, and the Democrat push for the Green New Deal that he said would crush economic growth…. Source
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Brenberg: “I think the best indicator of recession is two consecutive quarters of negative GDP growth, because what that means is you’ve had a slowdown, a significant slowdown in the economy,”