For four years the media and other Democrats gaslighted the public about how great the Biden economic policies were. But six months into Trump’s term, the media is trashing Trump’s policies in order to influence, not inform, the voters. And, like clockwork, they trot out Mark Zandi, who they pretend is independent, but is really a Democrat hack. Whenever the media and other Democrats want an economist to support their policies and trash Republican (Trump) policies, out comes Zandi.
Here he is in The Hill saying we are on the precipice of a recession. I guess the deep depression warnings of April the Democrats and media promised didn’t come true, so out he comes again, just like a groundhog, with new warnings:
US economy on ‘precipice of recession,’ Moody’s chief economist warns
- Consumer spending flat; construction, manufacturing contracting, he says
- Zandi blames tariffs, immigration policy for economic struggles
- Low jobless rate masks shrinking workforce, hiring freezes
Moody’s Analytics chief economist Mark Zandi said the U.S. economy is ‘on the precipice of recession,’ citing indicators from last week’s economic data releases.
The article is everywhere. Not to be outdone, Fox News calls him a leading economist and says the Federal Reserve has few options to save us from financial crisis. Maybe they should lower interest rates? I have to wonder how many times an economist has to be wrong before the media stops considering them to be a leading economist?
Leading economist issues stark recession warning for struggling US economy
Mark Zandi cites weak jobs data and rising inflation as Fed faces limited rescue options[.]
In 2007, Moody’s (Zandi), S & P, and Fitch were earning huge fees by rating junk mortgage pools as Triple A. This allowed brokers, bankers, Freddie and Fannie, to package up trillion dollars worth of garbage to sell to individuals, banks, and mutual funds. This was pure fraud that almost destroyed the U.S. and world economy, and yet these people did not go to jail. The taxpayer bailed them out.
Yet today Zandi and others are still treated as respectable ratings agents.
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