Trump’s Prediction of ‘Massive Recession’ Puzzles Economists
Donald Trump’s prediction that the U.S. economy was on the verge of a “very massive recession” hit a wall of skepticism from economists who questioned the Republican presidential front-runner’s calculations, reports Reuters.
In a wide-ranging interview with the Washington Post published on Saturday, the billionaire businessman said a combination of high unemployment and an overvalued stock market had set the stage for another economic slump. He put real unemployment above 20 percent, Reuters said.
“There is a very low probability of a massive recession, less than 10 percent,” said Sung Won Sohn, an economics professor at California State University Channel Islands in Camarillo. “If it happens, it would be because of what is happening overseas, especially in China and Europe.”
