Independent of Hassett's abysmal forecasting record thus far (Dow 36,000 etc), why would anyone ever make a prediction of 100% chance of recession? Even without the trade wars, average annual chance of recession is ~15% - ThreadSky

crampell.bsky.social • 3 days ago

Independent of Hassett's abysmal forecasting record thus far (Dow 36,000 etc), why would anyone ever make a prediction of 100% chance of recession?
Even without the trade wars, average annual chance of recession is ~15%

Reposted from Aaron Rupar

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Comments

ftp-coward.bsky.social•3 days ago

Because we can’t have a recession if we are in a depression.

carlquintanilla.bsky.social•3 days ago

Time-honored tradition.

johndettling.bsky.social•3 days ago

Sec. Ross? So odd in America people retain their honorific political title after they serve in office.

righthillgirl.bsky.social•3 days ago

“This ship is unsinkable.”

tcar2000.bsky.social•3 days ago

🤣

crampell.bsky.social•3 days ago

when is this from

1gagirl76.bsky.social•3 days ago

Things without dates seem so useless.

ramshackle78.bsky.social•3 days ago

Late Feb 2020?

calculatedrisk.bsky.social•3 days ago

Jan 30, 2020
https://youtu.be/4qjxw8QWqfo?si

artsulselva.bsky.social•3 days ago

January 2020 I believe… oops

jeffedu.bsky.social•3 days ago

also, where is Wilbur Ross, anyway? 🤔

(Wikipedia says he's busy doing nothing...maybe we could get a quote from him, if he's not too busy with his own personal $100M+ art collection? 🙄 )

jozienty.bsky.social•3 days ago

Ugh, that harshes my buzz. I thought he was dead.

dropdea.bsky.social•3 days ago

Based on the levels of the DJIA and SPX in that screenshot, it has to have been either very late '19 or very early '20. Impeccable timing.

cfountain.bsky.social•2 days ago

Good point. Cable news should always have a date somewhere on the screen, specifically for this purpose.

lochfyne.bsky.social•3 days ago

Ha ha ha "physically"

jermany.bsky.social•3 days ago

Apropos of everything, “why would anyone” is kinda their whole thing.

wwwojtekk.bsky.social•3 days ago

Tbf, Hassett may still be right about 36,000 pretty soon

chronoscope.bsky.social•3 days ago

It was a prediction about WHEN the Dow would reach 36,000. He predicted 2002, 2004 at the latest.

He was very wrong.

pauldimilla.bsky.social•3 days ago

Why? To give his boss part of his daily ego boost.

djb100.bsky.social•3 days ago

Because hassett is a stooge ?

lawdawg.bsky.social•3 days ago

WHY INDEED, CATHERINE https://www.bloomberg.com/news/articles/2022-10-17/forecast-for-us-recession-within-year-hits-100-in-blow-to-biden

davidschroff.bsky.social•3 days ago

He’s like Kudlow and Ron Vara - 100% of the time, he’s wrong every time.

melisa23.bsky.social•3 days ago

Because they're colossally stupid?

stephenbaines.bsky.social•3 days ago

These desperate claims actually make me more worried. There is panic in them.

rjhall.bsky.social•3 days ago

Republicans seem not to have access to top quality economists these days

lisajo.bsky.social•3 days ago

Nor reality, it seems.

odetteroulette.bsky.social•3 days ago

Hassett is 100% lying.

starshipbistromath.bsky.social•3 days ago

To be fair, Hassett's predictions have been 100% consistent over his career.

carlailara.bsky.social•3 days ago

I fairness, it’s Hassett.

danrosanova.bsky.social•3 days ago

Because there are no consequences in the world in which he lives. And no accountability. And also no truth.

odysseus93.bsky.social•2 days ago

I swear, all of these Trump goons must have electro-buttplugs up their ass with Donny hold the switch to 'remind' them of what to say.
BTW. Hassert is completely full of it.

teebonez.bsky.social•3 days ago

I am 100% certain that there never wont not be a recession I'm kind of positive

bradrubenstein.com•3 days ago

Of course, he's not making a prediction. He's making a propaganda.

ridem24.bsky.social•2 days ago

This regime is skipping over the recession and jumping right into a depression.

surfingthepast.bsky.social•3 days ago

Recession Smeecession. A .02% growth rate coupled with 4.5% inflation is twice as bad even if technically not a recession.

somerandosalt.bsky.social•3 days ago

This! Technically speaking, stagflation is not recession! Heil Trump! 💪

factcheckbot.bsky.social•3 days ago

Fun fact: lots of people predicted 100% chance of recession in 2022. There was no recession in 2022.

rcopelander.bsky.social•3 days ago

And they all were republicans and their paid shills on every legacy media platform

koubitz.bsky.social•3 days ago

When they can get away with lying this much to their base, why bother ever saying anything true anymore? Lol

kraniumkracka.bsky.social•3 days ago

He’s just following his boss, the master of hyperbole.

richlevine6.bsky.social•3 days ago

I don’t think we should forget that this is the guy who predicted no COVID deaths by mid-May 2020.

xeynon.bsky.social•3 days ago

He said we're 100% not headed for a RECESSION.

He didn't say anything about a DEPRESSION.

Checkmate, libs.

ionnoiu.bsky.social•1 day ago

Oh, but we are headed for one.

accountabilabuddy.bsky.social•3 days ago

They'll say whatever numbers they like ("seventy trillion jobs created"; "gdp up 13000%") and anyone who points out it's obviously bullshit will be gulag'd.

julietnotromeo.bsky.social•3 days ago

🎯

bverbs.bsky.social•3 days ago

Hassett is a hack.

chowdster.bsky.social•3 days ago

You get to say that there's a 100% chance of recession if it lets you blame democrats, regardless if a recession happens or not

jjn22.bsky.social•2 days ago

Skipping it, going straight to depression.

seadan.bsky.social•2 days ago

This is where the raise of the debt ceiling comes in handy, they can keep dumping money into the economy to keep it pumped up

cfountain.bsky.social•2 days ago

Exactly! Math not his strong suite?

breadandfizz.bsky.social•3 days ago

Because the Administration is always wrong, but never in doubt.

onewheeldoin200.bsky.social•3 days ago

Yes, you say that, but you actually *know* things and value knowledge.

MAGA values only blind, ignorant obedience to their Orange God.

forgotherface.bsky.social•3 days ago

I really wish more people remembered Kevin Hassett's most stunningly stupid moment:
https://bsky.app/profile/forgotherface.bsky.social/post/3lmsss5yp2k2z

yellowdogfox.bsky.social•3 days ago

Hassett seems so incompetent/dumb that I can't believe he's not a FoxNews hire.

cugrokt.bsky.social•2 days ago

He does have a career at Fox News waiting for him after he flames out.

tangoalphalima.bsky.social•3 days ago

Because they are all shameless liars.

tembahisarmswide.bsky.social•3 days ago

100% chance of recession seems spot on given circumstances.

infoshaman.bsky.social•3 days ago

Profit is what matters. Growth is for the masses.

lukechedleh.bsky.social•3 days ago

This has been one of their mantra-like chanting points for several years now, I'm surprised they're still using it since the election is over... which means it's still part of their ongoing grift, uh oh

riz4robot.bsky.social•2 days ago

trump has tariffs to bring jobs to america and then
he sends people and money to el salvador

why doesn't he have his labor/death camp here in the good ole usa

god bless this fucking nazi deathcamp

cdwilsher.bsky.social•3 days ago

Yeah but since WW2 there have been 11 recessions in 40 years of Republican presidencies, so it's better than 25% when a Republican is president.

old-granny-2.bsky.social•3 days ago

Just coming here to say how since I was born in 1952, there have been close to 10 recessions- 8 since I left college in 1975.

geosb3.bsky.social•3 days ago

MAGA doesn't do nuance. They listen to what they are told by RW medis.

lowpolycrow.bsky.social•3 days ago

Your lying eyes and ears betray you.

cabbageridge.bsky.social•3 days ago

Because he was told to

noahhunter.bsky.social•3 days ago

Typo alert

ulysses2619.bsky.social•3 days ago

It’s for an audience of one

jimrissmiller.bsky.social•2 days ago

Seems a lot like Hassett is just following orders from Trump.

crampell.bsky.social•3 days ago

100% chance of no recession I meant, obviously

spfhockeyfan.bsky.social•3 days ago

Because no consequences for being wrong

stuartshapiroblou.bsky.social•3 days ago

I think you lose your credentials as an economist if you say there is a 100% chance of anything.

cfountain.bsky.social•2 days ago

100% chance MAGA will defend anything Trump does, regardless of how illegal, unethical, or just plain dumb it is.

nick-higgins.bsky.social•3 days ago

mtnthc.bsky.social•3 days ago

It's propaganda on state teevee.

mauricevelghe.bsky.social•3 days ago

We need an edit button

sbpnw.bsky.social•3 days ago

Maybe you were actually reading his mind

pratchet.bsky.social•3 days ago

Irony is you were right the first time. It is exactly how these fools should be interpreted. We should expect %100 chance of recession now

mrhamburgerbuns.bsky.social•3 days ago

they're gonna cook the books

djblues.bsky.social•2 days ago

Hassestt is such a tool, he's such a toadie for Trump, he's the guy who would give him a parachute when we're all spiraling out of the sky. It's stunning to watch him!

clear-mirror.bsky.social•3 days ago

The Dow still might hit 36,000

Sure, it would be the wrong way to do it, but with Hassett?? Who knows?

paulvigna.bsky.social•3 days ago

He’s 100% right, if we’re already in a recession.

Otherwise, yeah not smart to claim 100% anything.

luigivercotti.bsky.social•3 days ago

Good thing he’s talking with expert prognosticator Larry Kudlow.

https://www.politico.com/news/2020/06/12/larry-kudlow-coronavirus-second-wave-314904

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