Recession 2019: Trump Says It Won't Happen, 'We’re Doing Tremendously Well'

As expected, president Donald Trump on Sunday claimed there isn’t going to be a recession on his watch. He also brushed aside a wave of expert opinion predicting a recession by 2021 or earlier on account of his trade war against the rest of the world.

Trump declared American consumers are “rich” and “loaded-up with money” as reasons for his optimism.

“I don’t think we’re having a recession,” said Trump to reporters. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded-up with money.”

Trump’s salvo was part of a coordinated media pushback over the week by his administration against rising fears by the business community and Wall Street a recession is just around the corner. Making the media rounds to argue Trump’s point were Peter Navarro, Assistant to the President and Director of Trade and Manufacturing Policy, and Larry Kudlow, Director of the National Economic Council.

In a TV interview on CNN, Navarro falsely declared Trump’s tariffs aren't hurting anybody in the United States despite host Jake Tapper airing videos of Iowa farmers complaining of the pain and losses they keep incurring from Trump’s tariffs.

One of those men in the video, Gary Wertish, president of the Minnesota Farmer's Union, said “… words on Twitter and tweets doesn’t pay the farmers bills. That doesn’t solve the problem were dealing with ... and this one's self inflicted by our president.”

Wertish also said there isn’t a Plan B by Trump to end the trade war against China and their pain.

Like Trump, Navarro claims the U.S. is winning the trade war and dismissed arguments Americans are shouldering the burden, despite expert opinion to the contrary and the incessant complaints from American farmers Trump’s trade war is ruining them.

Navarro also dismissed data showing the yield curve had inverted last week. Experts are saying the inverted yield curve has preceded seven of the past nine recessions.

For his part, Kudlow said on Fox News, he doesn’t "see a recession at all," when asked about the inverted yield phenomenon that sent triggered Wall Street largest selloff of the year last week.

He also argued Trump’s point the U.S. economy remains strong. He said strong retail sales and low unemployment are signs the economy is strong.

“I think we’re in pretty good shape,” said Kudlow of the economy.

Kudlow also said the U.S. remains in conflict with China over technology.

“We are in a kind of technological war with China, and we cannot let them steal our family jewels which is the heart of the American economic growth miracle,” he said.