Giving his insight to Salon, Steven Kyle, an Associate Economics Professor at Cornell University, said he hopes the U.S. faces another economic downturn so President Donald Trump loses in 2020.
In the article, titled, “The end really is near: a play-by-play of the coming economic collapse,” Kyle explained how “disastrous downturns are often the result of implosions in financial markets, and it’s not obvious that that’s cooking right now. There are no signs of that.”
The end really is near: a play-by-play of the coming economic collapse https://t.co/JkDbFq2sAI
— Salon (@Salon) August 12, 2018
When will the economic collapse happen? According to Kyle, he wants it to happen during the upcoming presidential election:
I hope to god we have a downturn when Donald Trump goes up for reelection. The political models say that rate of change is highly correlated to throwing out an incumbent. Not that I hope for people to lose jobs, but I sure do hope for all our sake’s we get rid of that guy.
Certainly we’re not going to see a turnaround this year. It’s possible next year. And it gets more likely thereafter.
“The normal ‘turnarounds’ are caused by the Federal Reserve raising interest rates, or the usual inventory story of inventory building up,” he continued. “And we’re not seeing that to any great degree yet. That’s why I’m saying not this year, possibly next year, and becoming more likely after that.”
The U.S. gross domestic product (GDP) nearly doubled the first quarter’s 2.2 percent as it rose to 4.1 percent in the second quarter, the first time it has done so since the third quarter in 2014.