More Signs Of A Slow Economy Emerge This Week | Morning Joe | MSNBC

More Signs Of A Slow Economy Emerge This Week | Morning Joe | MSNBC


IS. IS.>>>TWO MORE SIGNS OF A SLOW>>>TWO MORE SIGNS OF A SLOW ECONOMY EMERGED YESTERDAY AS THE ECONOMY EMERGED YESTERDAY AS THE COMMERCE DEPARTMENT REPORTED COMMERCE DEPARTMENT REPORTED THAT GROWTH IN DOMESTIC PRODUCT THAT GROWTH IN DOMESTIC PRODUCT DECLINED TO 1.9% IN THE SECOND DECLINED TO 1.9% IN THE SECOND QUARTER. QUARTER. AND THE FEDERAL RESERVE CUT AND THE FEDERAL RESERVE CUT INTEREST RATES BY ANOTHER .25%. INTEREST RATES BY ANOTHER .25%.>>THAT’S TERRIBLE, ACCORDING TO>>THAT’S TERRIBLE, ACCORDING TO DONALD TRUMP WHO, OF COURSE — DONALD TRUMP WHO, OF COURSE –>>NO, THAT WAS TERRIBLE>>NO, THAT WAS TERRIBLE ACCORDING TO DONALD TRUMP A FEW ACCORDING TO DONALD TRUMP A FEW YEARS AGO. YEARS AGO.>>BUT HE SAID THAT WOULD BE>>BUT HE SAID THAT WOULD BE HORRIBLE TO BE PRESIDENT WHEN HORRIBLE TO BE PRESIDENT WHEN GROWTH WAS THAT SLOW. GROWTH WAS THAT SLOW. STEVE RATTNER, YOU, OF COURSE, STEVE RATTNER, YOU, OF COURSE, THE KIDS THAT WERE EXCITED ABOUT THE KIDS THAT WERE EXCITED ABOUT THE WORLD SERIES WERE ESPECIALLY THE WORLD SERIES WERE ESPECIALLY EXCITED BECAUSE THERE’S A EXCITED BECAUSE THERE’S A DOUBLEHEADER HERE TODAY ON THE DOUBLEHEADER HERE TODAY ON THE 31st. 31st. HALLOWEEN AND YOUR CHART. HALLOWEEN AND YOUR CHART. SO THEY’RE ALL VERY EXCITED, SO THEY’RE ALL VERY EXCITED, VERY EXCITED ABOUT THAT. VERY EXCITED ABOUT THAT. YOU KNOW, THE FWHING THISTHING A YOU KNOW, THE FWHING THISTHING A 1.9% GROWTH, LET’S TALK ABOUT 1.9% GROWTH, LET’S TALK ABOUT THIS UP FRONT BEFORE THE CHARTS, THIS UP FRONT BEFORE THE CHARTS, IT COMES AFTER THE PRESIDENT’S IT COMES AFTER THE PRESIDENT’S EXTRAORDINARILY RECKLESS EXTRAORDINARILY RECKLESS SPENDING FREE. SPENDING FREE. A SPENDING SPREE THAT EVEN RAND A SPENDING SPREE THAT EVEN RAND PAUL SAID WAS THE MOST RECKLESS PAUL SAID WAS THE MOST RECKLESS IN AMERICAN HISTORY. IN AMERICAN HISTORY. HE COULDN’T VOTE FOR DONALD HE COULDN’T VOTE FOR DONALD TRUMP’S BUDGET. TRUMP’S BUDGET. THEN OF COURSE THAT MASSIVE TAX THEN OF COURSE THAT MASSIVE TAX CUT FOR CORPORATIONS AND THE CUT FOR CORPORATIONS AND THE RICHEST PEOPLE IN AMERICA, RICHEST PEOPLE IN AMERICA, MASSIVE TAX CUT, THAT GUTTED MASSIVE TAX CUT, THAT GUTTED ACTUALLY A LOT OF DEDUCTIONS FOR ACTUALLY A LOT OF DEDUCTIONS FOR SMALL BUSINESS OWNERS, THAT WAS SMALL BUSINESS OWNERS, THAT WAS SUPPOSED TO ENERGIZE THE SUPPOSED TO ENERGIZE THE ECONOMY. ECONOMY. IT’S HAD THE OPPOSITE EFFECT IT’S HAD THE OPPOSITE EFFECT AND, OF COURSE, WE NOW HAVE A AND, OF COURSE, WE NOW HAVE A $22 TRILLION NATIONAL DEBT $22 TRILLION NATIONAL DEBT BECAUSE OF IT. BECAUSE OF IT.>>ALL THAT’S TRUE, JOE.>>ALL THAT’S TRUE, JOE. SO MAYBE YOU WANT TO DO MY SO MAYBE YOU WANT TO DO MY CHARTS FOR ME. CHARTS FOR ME. YOU’VE GOT ALL THE TALKING YOU’VE GOT ALL THE TALKING POINTS. POINTS. BUT I’LL — I’LL CHIME IN. BUT I’LL — I’LL CHIME IN. LET ME START, BECAUSE WE WENT LET ME START, BECAUSE WE WENT OUT WITH A DONALD TRUMP TWEET, OUT WITH A DONALD TRUMP TWEET, I’LL COME IN WITH A DONALD TRUMP I’LL COME IN WITH A DONALD TRUMP QUOTE FROM DECEMBER, 2017, WHEN QUOTE FROM DECEMBER, 2017, WHEN HE SAID, SO WE’RE AT 3.3% GDP, I HE SAID, SO WE’RE AT 3.3% GDP, I SEE NO REASON WHY WE DON’T GO TO SEE NO REASON WHY WE DON’T GO TO 4%, 5%, OR EVEN 6%. 4%, 5%, OR EVEN 6%. AND INSTEAD OF THAT, WE ARE AT AND INSTEAD OF THAT, WE ARE AT 1.9% AT AND WHAT YOU CAN SEE ON 1.9% AT AND WHAT YOU CAN SEE ON THIS CHART IS THAT HE DID HAVE THIS CHART IS THAT HE DID HAVE THE SUGAR HIGH THAT YOU WERE THE SUGAR HIGH THAT YOU WERE REFERRING TO AFTER THE TAX CUT REFERRING TO AFTER THE TAX CUT IN — IN –>>I CAN COULD ASK YOU — I CAN>>I CAN COULD ASK YOU — I CAN INTERRUPT YOU QUICKLY? INTERRUPT YOU QUICKLY? I’M NOT GOOD AT THESE CHARTS, SO I’M NOT GOOD AT THESE CHARTS, SO I SEE A LOT OF REALLY, REALLY I SEE A LOT OF REALLY, REALLY HIGH NUMBERS IN GRAY. HIGH NUMBERS IN GRAY. THOSE ARE LIKE HUGE NUMBERS. THOSE ARE LIKE HUGE NUMBERS. AND THEN THEY’RE DRAWFING THE AND THEN THEY’RE DRAWFING THE LITTLE BLUE NUMBERS TO THE LITTLE BLUE NUMBERS TO THE RIGHT. RIGHT. CAN YOU TELL ME, WHAT ARE THOSE CAN YOU TELL ME, WHAT ARE THOSE REALLY HIGH NUMBERS IN GRAY? REALLY HIGH NUMBERS IN GRAY? WHO WAS PRESIDENT THEN? WHO WAS PRESIDENT THEN? AND WHO — WHEN THE LITTLE, AND WHO — WHEN THE LITTLE, LITTLE BLUE PART OF THE CHART, LITTLE BLUE PART OF THE CHART, I’M NOT GOOD AT READING CHARTS, I’M NOT GOOD AT READING CHARTS, WILLIE CAN TELL YOU THAT. WILLIE CAN TELL YOU THAT. CAN YOU HELP US OUT THERE? CAN YOU HELP US OUT THERE?>>YES, I CAN HELP YOU OUT>>YES, I CAN HELP YOU OUT THERE. THERE. THE GRAY NUMBERS, THE GRAY BARS, THE GRAY NUMBERS, THE GRAY BARS, RATHER, ARE BARACK OBAMA’S EIGHT RATHER, ARE BARACK OBAMA’S EIGHT YEARS IN OFFICE AND THE BLUE YEARS IN OFFICE AND THE BLUE BARS — BARS –>>OH, WOW.>>OH, WOW.>>– ARE DONALD TRUMP.>>– ARE DONALD TRUMP.>>SO HE ENDED UP DOING A PRETTY>>SO HE ENDED UP DOING A PRETTY DAMN GOOD JOB, IF YOU BELIEVE DAMN GOOD JOB, IF YOU BELIEVE NUMBERS AND DATA, RIGHT? NUMBERS AND DATA, RIGHT?>>HE DID A PRETTY GOOD — HE>>HE DID A PRETTY GOOD — HE TOOK OVER AN ECONOMY WHICH AS TOOK OVER AN ECONOMY WHICH AS YOU CAN SEE THAT RED LINE ON THE YOU CAN SEE THAT RED LINE ON THE LEFT WHEN HE TOOK OVER THE LEFT WHEN HE TOOK OVER THE ECONOMY WE WERE IN NEGATIVE ECONOMY WE WERE IN NEGATIVE GROWTH TERRITORY. GROWTH TERRITORY. YOU CAN SEE THE RED LINE WHICH YOU CAN SEE THE RED LINE WHICH SHOWS YOU THE ANNUAL RATES OF SHOWS YOU THE ANNUAL RATES OF INCREASE THAT WERE PRETTY INCREASE THAT WERE PRETTY SIMILAR, ACTUALLY, UNDER BA RAM SIMILAR, ACTUALLY, UNDER BA RAM OBAMA TO WHAT OBAMA TO WHAT BARACK OBAMA UNDER PRESIDENT BARACK OBAMA UNDER PRESIDENT TRUMP. TRUMP. BUT YOU CAN SEE GROWTH TRAILING BUT YOU CAN SEE GROWTH TRAILING OFF. OFF. THERE’S A HORIZONTAL LINE THAT THERE’S A HORIZONTAL LINE THAT YOU CAN SEE AT 3% WHICH WAS YOU CAN SEE AT 3% WHICH WAS TRUMP’S ORIGINAL TARGET AND YOU TRUMP’S ORIGINAL TARGET AND YOU CAN SEE HE ONLY POPPED ABOVE IT CAN SEE HE ONLY POPPED ABOVE IT BY A LITTLE BIT FOR A LITTLE BIT BY A LITTLE BIT FOR A LITTLE BIT OF TIME. OF TIME. AND SINCE THEN IT’S BEEN AND SINCE THEN IT’S BEEN TRENDING ESSENTIALLY STRAIGHT TRENDING ESSENTIALLY STRAIGHT DOWN. DOWN. AND EACH YEAR OF HIS PRESIDENCY AND EACH YEAR OF HIS PRESIDENCY THE GROWTH RATE HAS BEEN LOWER THE GROWTH RATE HAS BEEN LOWER THAN THE YEAR BEFORE. THAN THE YEAR BEFORE. AND WEAPON ARE NOW IN SUB 2% AND WEAPON ARE NOW IN SUB 2% GROWTH AS OPPOSED TO THE 3%, 4%, GROWTH AS OPPOSED TO THE 3%, 4%, 5%, 6% GROWTH THAT HE PROMISED 5%, 6% GROWTH THAT HE PROMISED US. US.>>BOY, THAT’S REALLY BAD.>>BOY, THAT’S REALLY BAD.>>WHY IS THIS HAPPENING?>>WHY IS THIS HAPPENING? ACTUALLY HERE’S ANOTHER GREAT ACTUALLY HERE’S ANOTHER GREAT IRONY TO THE SITUATION. IRONY TO THE SITUATION. THE BIGGEST CONTRIBUTOR TO THE THE BIGGEST CONTRIBUTOR TO THE DECLINE OR TO THE SLOW OF GROWTH DECLINE OR TO THE SLOW OF GROWTH RATE HAS BEEN — ABSOLUTE RATE HAS BEEN — ABSOLUTE DECLINE, OUTLINE DECLINE IN DECLINE, OUTLINE DECLINE IN BUSINESS INVESTMENT. BUSINESS INVESTMENT.>>WAIT, WAIT, WAIT, STEVE.>>WAIT, WAIT, WAIT, STEVE. I’M CONFUSED BECAUSE — I’M CONFUSED BECAUSE –>>HE’S THE DEAL MAKER.>>HE’S THE DEAL MAKER.>>I’M REALLY CONFUSED, HELP ME>>I’M REALLY CONFUSED, HELP ME OUT HERE I’M JUST A POOR COUNTRY OUT HERE I’M JUST A POOR COUNTRY LAWYER. LAWYER. YOU ABOUT I THOUGHT AND WE WERE YOU ABOUT I THOUGHT AND WE WERE TOLD — TOLD –>>YEAH.>>YEAH.>>– AND ALL REPUBLICANS>>– AND ALL REPUBLICANS PROMISED US THAT IF THEY CUT PROMISED US THAT IF THEY CUT TAXES FOR THE RICHEST PEOPLE IN TAXES FOR THE RICHEST PEOPLE IN AMERICA AND MULTINATIONAL AMERICA AND MULTINATIONAL CORPORATIONS, THAT THAT WOULD CORPORATIONS, THAT THAT WOULD SPUR INVESTMENT. SPUR INVESTMENT. NOW, OF COURSE, I DON’T KNOW A NOW, OF COURSE, I DON’T KNOW A WHOLE LOT ABOUT ECONOMICS SO I WHOLE LOT ABOUT ECONOMICS SO I WAS SAYING THEY’RE GOING TO WAS SAYING THEY’RE GOING TO WASTE SOME MONEY ON STOCK WASTE SOME MONEY ON STOCK BUYBACKS AND THAT ACTUALLY THIS BUYBACKS AND THAT ACTUALLY THIS TAX CUT ACTUALLY WASN’T TAILORED TAX CUT ACTUALLY WASN’T TAILORED TO INSPIRE INVESTMENT. TO INSPIRE INVESTMENT. BUT ALL THE SMART REPUBLICANS BUT ALL THE SMART REPUBLICANS AND ALL THE RIGHT WING AND ALL THE RIGHT WING ECONOMISTS SAID IT WOULD SPUR ECONOMISTS SAID IT WOULD SPUR INVESTMENT. INVESTMENT. BUT COULD WE PUT THE CHART BACK BUT COULD WE PUT THE CHART BACK UP, BECAUSE I’M CONFUSED. UP, BECAUSE I’M CONFUSED. I’M SO DEEPLY CONFUSED THIS I’M SO DEEPLY CONFUSED THIS HALLOWEEN MORNING THAT IT LOOKS HALLOWEEN MORNING THAT IT LOOKS LIKE INVESTMENT IS ACTUALLY LIKE INVESTMENT IS ACTUALLY PLUMMETED SINCE DONALD TRUMP’S PLUMMETED SINCE DONALD TRUMP’S TAX CUT. TAX CUT.>>SO YOU’VE GOT — YOU CAN SEE>>SO YOU’VE GOT — YOU CAN SEE THOSE THREE BLUE BARS IN THE THOSE THREE BLUE BARS IN THE MIDDLE. MIDDLE. YOU’VE GOT A LITTLE BIT OF A YOU’VE GOT A LITTLE BIT OF A SHORT-TERM SPURT UPWARD AND SHORT-TERM SPURT UPWARD AND THEN, AS YOU SAY, IT’S PLUMMETED THEN, AS YOU SAY, IT’S PLUMMETED SINCE THEN. SINCE THEN. NOW WE’VE HAD TWO CONSECUTIVE NOW WE’VE HAD TWO CONSECUTIVE QUARTERS OF NEGATIVE BUSINESS QUARTERS OF NEGATIVE BUSINESS INVESTMENT. INVESTMENT.>>OH MY GOD.>>OH MY GOD.>>I KNOW YOU’RE GOING TO WANT>>I KNOW YOU’RE GOING TO WANT TO GO TO THOSE GRAY BARS ON THE TO GO TO THOSE GRAY BARS ON THE LEFT AND I DON’T THINK YOU CAN LEFT AND I DON’T THINK YOU CAN FIND — FIND –>>THE GRAY BARS, I CAN GET>>THE GRAY BARS, I CAN GET WILLIE IN HERE? WILLIE IN HERE? WILLIE, LOOK. WILLIE, LOOK.>>COME ON.>>COME ON.>>THE GRAY BARS SORE MUCH>>THE GRAY BARS SORE MUCH HIGHER AND DONALD TRUMP HAD HIGHER AND DONALD TRUMP HAD PROMISED US AND EVERY REPUBLICAN PROMISED US AND EVERY REPUBLICAN PROMISED US THAT IF THEY PUT A PROMISED US THAT IF THEY PUT A COUPLE TRILLION DOLLARS MORE IN COUPLE TRILLION DOLLARS MORE IN DEBT, THAT INVESTMENT WOULD PICK DEBT, THAT INVESTMENT WOULD PICK UP. UP. IT’S JUST DROPPING LIKE A LED IT’S JUST DROPPING LIKE A LED ZEPPELIN. ZEPPELIN. WILLIE. WILLIE.>>I KNOW YOU’RE BETTER WITH THE>>I KNOW YOU’RE BETTER WITH THE PIE CHART, JOE, THE USA TODAY PIE CHART, JOE, THE USA TODAY PIE CHART ABOUT WHICH VEGETABLES PIE CHART ABOUT WHICH VEGETABLES PEOPLE LIKE. PEOPLE LIKE.>>YES.>>YES.>>SO LET ME WALK YOU THROUGH>>SO LET ME WALK YOU THROUGH THIS. THIS.>>BY THE WAY, ALSO — ALSO MY>>BY THE WAY, ALSO — ALSO MY FAVORITE USA TODAY PIE CHART FAVORITE USA TODAY PIE CHART EVER WAS THAT THREE FOURTHS OF EVER WAS THAT THREE FOURTHS OF AMERICANS MAKE UP 75% OF THE AMERICANS MAKE UP 75% OF THE PUBLIC. PUBLIC. I UNDERSTAND THOSE. I UNDERSTAND THOSE. THESE CONFUSE ME. THESE CONFUSE ME.>>THAT WAS A CLASSIC.>>THAT WAS A CLASSIC. THOSE LAST TWO NEGATIVE BARS, THOSE LAST TWO NEGATIVE BARS, DOES THAT MEAN PEOPLE ARE DOES THAT MEAN PEOPLE ARE HOLDING ON TO THE MONEY BECAUSE HOLDING ON TO THE MONEY BECAUSE OF WHY? OF WHY?>>THANK YOU, WILLIE, FOR A GOOD>>THANK YOU, WILLIE, FOR A GOOD QUESTION. QUESTION. [ LAUGHTER ] [ LAUGHTER ]>>WEE!>>WEE!>>THEY ARE HOLDING ON — THEY>>THEY ARE HOLDING ON — THEY ARE HOLDING ON TO THE MONEY ARE HOLDING ON TO THE MONEY FIRST AND FOREMOST BECAUSE OF FIRST AND FOREMOST BECAUSE OF DONALD TRUMP’S TRADE WAR, WHICH DONALD TRUMP’S TRADE WAR, WHICH HAS CAUSED BUSINESS TO SAY, HAS CAUSED BUSINESS TO SAY, LET’S JUST PULL BACK, LET’S HOLD LET’S JUST PULL BACK, LET’S HOLD OFF, LET’S SEE WHAT’S GOING ON OFF, LET’S SEE WHAT’S GOING ON HERE BEFORE WE RUSH OUT AND HERE BEFORE WE RUSH OUT AND SPEND A LOT MORE MONEY ON PLANTS SPEND A LOT MORE MONEY ON PLANTS AND EQUIPMENT. AND EQUIPMENT. AND SO HE HAS ONLY HIMSELF TO AND SO HE HAS ONLY HIMSELF TO BLAME FOR THOSE TWO BLUE BARS ON BLAME FOR THOSE TWO BLUE BARS ON THE RIGHT THAT GO DOWN. THE RIGHT THAT GO DOWN. NOW, CAN WE TURN TO JOE’S NOW, CAN WE TURN TO JOE’S FAVORITE SUBJECT, WHICH IS FAVORITE SUBJECT, WHICH IS FEDERAL SPENDING. FEDERAL SPENDING. SO, JOE, YOU CAN SEE HERE OVER SO, JOE, YOU CAN SEE HERE OVER ON THE LEFT THAT ALL THE WAY — ON THE LEFT THAT ALL THE WAY –>>WOW.>>WOW.>>– THAT BLUE LINE WAS THE>>– THAT BLUE LINE WAS THE RECESSION FIGHTING SPENDING THAT RECESSION FIGHTING SPENDING THAT BARACK OBAMA APPROVED. BARACK OBAMA APPROVED. THEN YOU CAN SEE THE CUT BACK, THEN YOU CAN SEE THE CUT BACK, THE SEQUESTRATION, ALL THE STUFF THE SEQUESTRATION, ALL THE STUFF WE REMEMBER. WE REMEMBER. BLUE LINE FALLS INTO NEGATIVE BLUE LINE FALLS INTO NEGATIVE TERRITORY WHERE WE’RE CUTTING TERRITORY WHERE WE’RE CUTTING GOVERNMENT SPENDING. GOVERNMENT SPENDING. YOU CAN SEE TRUMP’S INAUGURATION YOU CAN SEE TRUMP’S INAUGURATION DAY AND SINCE THEN THE BLUE LINE DAY AND SINCE THEN THE BLUE LINE GOING UP AND UP AND UP. GOING UP AND UP AND UP. IN FACT, OF THE 1.9% GROWTH WE IN FACT, OF THE 1.9% GROWTH WE GOT LAST QUARTER, .4%, ROUGHLY A GOT LAST QUARTER, .4%, ROUGHLY A QUARTER OF IT CAME FROM HIGHER QUARTER OF IT CAME FROM HIGHER GOVERNMENT SPENDING, NOT FROM GOVERNMENT SPENDING, NOT FROM ACTUAL ECONOMIC ACTIVITY. ACTUAL ECONOMIC ACTIVITY.>>WELL THAT’S — JONATHAN, THAT>>WELL THAT’S — JONATHAN, THAT SOUNDS LIKE SOCIALISM. SOUNDS LIKE SOCIALISM.>>I DON’T KNOW IF THIS IS A>>I DON’T KNOW IF THIS IS A GOOD QUESTION OR NOT, BUT YOU GOOD QUESTION OR NOT, BUT YOU JUST MENTIONED THE “R” WORD, JUST MENTIONED THE “R” WORD, RECESSION. RECESSION. THERE’S SIGNS OF A SLOWDOWN. THERE’S SIGNS OF A SLOWDOWN. IS THERE ANYTHING TO SUGGEST IS THERE ANYTHING TO SUGGEST HERE THAT A RECESSION COULD HERE THAT A RECESSION COULD HAPPEN OR THAT THERE’S ANYTHING HAPPEN OR THAT THERE’S ANYTHING THAT COULD INDICATE THAT THE THAT COULD INDICATE THAT THE ECONOMY COULD PICK BACK UP ECONOMY COULD PICK BACK UP BETWEEN NOW AND SAY, I DON’T BETWEEN NOW AND SAY, I DON’T KNOW, NOVEMBER 2020? KNOW, NOVEMBER 2020?>>SO THOSE ARE GOOD QUESTIONS>>SO THOSE ARE GOOD QUESTIONS TOO. TOO.>>THANK YOU.>>THANK YOU.>>JOE ASKS GOOD QUESTIONS JUST>>JOE ASKS GOOD QUESTIONS JUST FOR THE RECORD. FOR THE RECORD.>>SOMETIMES.>>SOMETIMES.>>ON THE SECOND PART OF YOUR>>ON THE SECOND PART OF YOUR QUESTION IS THE EASIER ONE TO QUESTION IS THE EASIER ONE TO ANSWER. ANSWER. THE CHANCES OF THE ECONOMY THE CHANCES OF THE ECONOMY PICKING UP AND INCREASING IN PICKING UP AND INCREASING IN GROWTH RATE, I THINK MOST GROWTH RATE, I THINK MOST ECONOMISTS THINK IS VERY LOW. ECONOMISTS THINK IS VERY LOW. THERE’S NOTHING GOING ON THAT THERE’S NOTHING GOING ON THAT WOULD CAUSE IT TO PICK UP AND WOULD CAUSE IT TO PICK UP AND START GROWING AT 2%, 3%, 4%, 5%. START GROWING AT 2%, 3%, 4%, 5%. RECESSIONS ARE HARD TO PREDICT, RECESSIONS ARE HARD TO PREDICT, ECONOMISTS ARE BAD AT IF THE ECONOMISTS ARE BAD AT IF THE MOST ECONOMISTS THINK THERE’S A MOST ECONOMISTS THINK THERE’S A 25%, 30% CHANCE BUT YOU CAN’T 25%, 30% CHANCE BUT YOU CAN’T SEE IT IN THE DATA YET. SEE IT IN THE DATA YET. WE WILL GET A JOBS NUMBER WE WILL GET A JOBS NUMBER TOMORROW, IT WILL BE A SLOW JOBS TOMORROW, IT WILL BE A SLOW JOBS NUMBER. NUMBER. IT’S DEFINITELY SLOWING DOWN. IT’S DEFINITELY SLOWING DOWN. MANUFACTURING EMPLOYMENT IN MANUFACTURING EMPLOYMENT IN THREE STATES PLUS SOME OTHERS, THREE STATES PLUS SOME OTHERS, BUT THREE KEY STATES, BUT THREE KEY STATES, PENNSYLVANIA, WISCONSIN, PENNSYLVANIA, WISCONSIN, MICHIGAN ALL FELL LAST MONTH. MICHIGAN ALL FELL LAST MONTH.>>THOSE ARE IMPORTANT STATES,>>THOSE ARE IMPORTANT STATES, STEVE. STEVE.>>THOSE ARE KIND OF IMPORTANT>>THOSE ARE KIND OF IMPORTANT STATES. STATES.>>SO YOU ACTUALLY MOVED TO MY>>SO YOU ACTUALLY MOVED TO MY NEXT QUESTION WHICH HAD TO DO NEXT QUESTION WHICH HAD TO DO WITH THE MANUFACTURING SLOWDOWN, WITH THE MANUFACTURING SLOWDOWN, WE’RE IN A MANUFACTURING WE’RE IN A MANUFACTURING RECESSION NOT JUST IN A LOT OF RECESSION NOT JUST IN A LOT OF THOSE STATES BUT ALSO WORLDWIDE. THOSE STATES BUT ALSO WORLDWIDE. AND MOST ECONOMISTS ACROSS THE AND MOST ECONOMISTS ACROSS THE WORLD DO BLAME THE WORLDWIDE WORLD DO BLAME THE WORLDWIDE MANUFACTURING SLOWDOWN ON DONALD MANUFACTURING SLOWDOWN ON DONALD TRUMP’S TRADE WAR. TRUMP’S TRADE WAR. WE TALK ABOUT IT AN AWFUL LOT. WE TALK ABOUT IT AN AWFUL LOT. BUT, I MEAN, THE EVIDENCE IS — BUT, I MEAN, THE EVIDENCE IS — IS UNAVOIDABLE. IS UNAVOIDABLE. IT’S OBVIOUS THAT DONALD TRUMP’S IT’S OBVIOUS THAT DONALD TRUMP’S TRADE WARS NOT OTHER CAUSING TRADE WARS NOT OTHER CAUSING MANUFACTURING RECESSIONS IN MANUFACTURING RECESSIONS IN PENNSYLVANIA AND MICHIGAN AND PENNSYLVANIA AND MICHIGAN AND WISCONSIN, BUT ALL ACROSS THE WISCONSIN, BUT ALL ACROSS THE GLOBE. GLOBE.>>YEAH.>>YEAH. THAT IS ABSOLUTELY RIGHT. THAT IS ABSOLUTELY RIGHT. THE GREAT IRONY OF THE WHOLE THE GREAT IRONY OF THE WHOLE ECONOMIC SITUATION IS THAT A ECONOMIC SITUATION IS THAT A YEAR AND A HALF AGO THE YEAR AND A HALF AGO THE INTERNATIONAL MONETARY FUND SAID INTERNATIONAL MONETARY FUND SAID THAT GLOBAL GROWTH HAS NEVER THAT GLOBAL GROWTH HAS NEVER BEEN AS BROAD BASED AND BEEN AS BROAD BASED AND SUSTAINED AS IT WAS AROUND THE SUSTAINED AS IT WAS AROUND THE WORLD THEN. WORLD THEN. THAT WAS 18 MONTHS AGO. THAT WAS 18 MONTHS AGO. THEY’VE BEEN CUTTING THEIR THEY’VE BEEN CUTTING THEIR FORECAST STEADILY SINCE THEN AND FORECAST STEADILY SINCE THEN AND IT IS EXACTLY BECAUSE OF THE IT IS EXACTLY BECAUSE OF THE TRADE WAR AND IT IS EXACTLY TRADE WAR AND IT IS EXACTLY BECAUSE OF DONALD TRUMP HAVING BECAUSE OF DONALD TRUMP HAVING STARTED THE TRADE WAR. STARTED THE TRADE WAR. SO, AGAIN, AMONG THE MANY IRONY SO, AGAIN, AMONG THE MANY IRONY OF THIS, TRUMP CAME INTO OFFICE OF THIS, TRUMP CAME INTO OFFICE SAYING I’M GOING TO FIX THIS SAYING I’M GOING TO FIX THIS ECONOMY HAS ACTUALLY MADE THE ECONOMY HAS ACTUALLY MADE THE ECONOMY WORSE OFF THAN IT WAS ECONOMY WORSE OFF THAN IT WAS WHEN HE GOT HERE. WHEN HE GOT HERE.>>SO OUR GREAT FED CHAIRMAN>>SO OUR GREAT FED CHAIRMAN POWELL YESTERDAY DROPPED THE POWELL YESTERDAY DROPPED THE RATE ANOTHER QUARTER POINT, BUT RATE ANOTHER QUARTER POINT, BUT SAID THAT LOOKED LIKE THAT WAS SAID THAT LOOKED LIKE THAT WAS ABOUT AS FAR AS THEY FELT ABOUT AS FAR AS THEY FELT COMFORTABLE PUSHING RATE DROPS. COMFORTABLE PUSHING RATE DROPS. WHAT’S THE IMPACT OF THAT GOING WHAT’S THE IMPACT OF THAT GOING TO BE AND ARE WE AT A POINT NOW TO BE AND ARE WE AT A POINT NOW WHERE BECAUSE OF THE MASSIVE WHERE BECAUSE OF THE MASSIVE SPENDING, BECAUSE OF THE MASSIVE SPENDING, BECAUSE OF THE MASSIVE TAX CUTS, BECAUSE OF THE TAX CUTS, BECAUSE OF THE HISTORICALLY LOW INTEREST RATES HISTORICALLY LOW INTEREST RATES WE’VE REALLY RUN OUT OF FISCAL WE’VE REALLY RUN OUT OF FISCAL OR MONETARY POLICIES THAT WOULD OR MONETARY POLICIES THAT WOULD HELP US ESCAPE A COMING HELP US ESCAPE A COMING RECESSION? RECESSION? WE ARE IN — WE’RE OVERLEVERAGED WE ARE IN — WE’RE OVERLEVERAGED AND WE’RE STILL SITTING AT 1.9% AND WE’RE STILL SITTING AT 1.9% GROWTH. GROWTH. IT DOESN’T SEEM TO BE A GREAT IT DOESN’T SEEM TO BE A GREAT UPSIDE THERE IF WE DO HIT A UPSIDE THERE IF WE DO HIT A RECESSION. RECESSION.>>NO, THAT’S EXACTLY RIGHT.>>NO, THAT’S EXACTLY RIGHT. WE HAVE USED MANY OF THE TOOLS WE HAVE USED MANY OF THE TOOLS THAT WE HAVE IN OUR ARSENAL, THAT WE HAVE IN OUR ARSENAL, FISCAL POLICY AS WELL AS FISCAL POLICY AS WELL AS MONETARY POLICY. MONETARY POLICY. I THINK THE FED WAS RIGHT TO CUT I THINK THE FED WAS RIGHT TO CUT INTEREST RATES YESTERDAY BECAUSE INTEREST RATES YESTERDAY BECAUSE YOU’VE SEEN THE GROWTH NUMBERS. YOU’VE SEEN THE GROWTH NUMBERS. THERE’S STILL VARIABLE INFLATION THERE’S STILL VARIABLE INFLATION IN THE ECONOMY, THAT’S ONE PIECE IN THE ECONOMY, THAT’S ONE PIECE OF GOOD NEWS THAT WE SHOULD OF GOOD NEWS THAT WE SHOULD ACKNOWLEDGE AND THAT DOES GIVE ACKNOWLEDGE AND THAT DOES GIVE BOTH THE FED AS WELL AS THE BOTH THE FED AS WELL AS THE TREASURY IF WE DECIDE TO SPEND TREASURY IF WE DECIDE TO SPEND MORE MONEY, IF A RECESSION MORE MONEY, IF A RECESSION OCCURS, SOME TOOLS TO WORK WITH. OCCURS, SOME TOOLS TO WORK WITH. BUT, NO, WE’RE NOT IN A GREAT BUT, NO, WE’RE NOT IN A GREAT SITUATION, JOE. SITUATION, JOE. YOU TALK OFTEN AND I COMPLETELY YOU TALK OFTEN AND I COMPLETELY AGREE WITH YOU ABOUT THE MASSIVE AGREE WITH YOU ABOUT THE MASSIVE AMOUNT OF DEBT THAT WE’VE PUT ON AMOUNT OF DEBT THAT WE’VE PUT ON THIS ECONOMY IN THE LAST SEVERAL THIS ECONOMY IN THE LAST SEVERAL YEARS. YEARS. AND NOW WE HAVE THESE LOW AND NOW WE HAVE THESE LOW INTEREST RATES WHICH LIMIT THE

100 Comments on "More Signs Of A Slow Economy Emerge This Week | Morning Joe | MSNBC"


  1. Baby trump tower meeting was about adopting Russian kids, remember. Trump deflected with dirt on Clinton. Media fell for it. Putin has hush payment video of trump's night over in Russia with the kids. Putin will show WHEN trump is dead asset. It's do die or prison for trump. An he is all in for Russia to the death. Lock him up today.

    Reply

  2. USA elementary school kids are betting money on how many lies. The President of the United States of America will tell during his speeches. National Disgrace, lock him up today.

    Reply

  3. The working poor are paying the Federal Tax increase. The American taxpaper needs to stop paying federal tax. Trump doesnt pay any taxes , the working class shouldnt pay either.

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  4. USA before choosing next president. First check tax returns, past bankruptcies, past law suits, give IQ test, mental exam, memory test. etc. Should have been policy by now 2019. SAD

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  5. Can't let dems bring us back to illgal servers, deleted top secret emails, sending jobs overseas, highest unemployment ect..

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  6. Man this president really got the economy moving. Even if u hate him (I hate him), u have to admit that he really did good for the economy so far

    Reply

  7. Name one policy Trump has implemented. Don’t include repealed, rolled back, eliminated, abolished, overturned, ended, delayed, banned, reversed, uprooted, suspended and removed. Doesn’t seem much of a leader when all he can do is destroy all that came before him…

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  8. I think the Trump supporters should cough up the dough for the deficit. You know farmers, miners, union people people that believed his lies that have really enhanced their lives. I am sorry that you believed anything this despot said. He played on your desires for a better time and wanting the betterment of your lives and your families. The only thing that was important to him was the tax breaks that his family and the 1% got. Anything else is a smoke screen. He really is trying to destroy America, enrich himself and sell our souls to Putin and his kind.

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  9. I love it ….I'm just a poor country Lawyer, but didn't Trump say he was a deal maker, didn't all the smart republicans, say cutting taxes will increase investment…….This is the typical republican play book, cut taxes, cut social spending, increase military spending, Reagan did it, George Bush Sr did it, George Bush Jr did it…Why can't we the people learn……when will you learn that the Republican party doesn't represent you, is the republican voter that stupid…..

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  10. Patriots quitting jobs to testify to protect country and its constitution. Proud of them. Criminals and traitors have infiltrated the WH and a foreign puppet master is pulling this administration’s strings

    https://tenor.com/72RF.gif

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  11. yes there is a lot slow, slow droney fabricated hearsay and consistently low ratings for news NO ONE BELIEVES…or stats

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  12. Real estate has been cash pay foreigners- probably Russian. Mortgages are slowing.
    The economy will slow, but it won’t crash.

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  13. If these democrats would leave me alone I could probably get some more crim- uh- work done. And I could fix the economy in a week. It’ll be the best economy you’ve ever seen- I tell you this. But this witch hunt hoax scam impeachment is taking up all my gol- uh- work time.

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  14. The tax cuts were to be paid for by a booming economy. Then trump decided to start tariff wars which make Americans pay for the tariffs. Tax cuts for businesses went to stock by backs rather than investment. Businesses are saving cash rather than investing because they expect an economic downturn. Unfortunately this behaviour has the effect of being a self fulfilling expectation. First year economics or common sense.
    The mass amount of government debt is also mirrored in the massive amount of personal debt in mortgages, credit cards, pay day loans, medical fees debt and student debt. If a high proportion of the population can’t raise 400 dollars for an unplanned emergency you have the perfect economic storm in a faltering economy and unfortunately you have Spongebob Squarepants at the helm.

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  15. The rest of the world is also suffering because of trumps trade war and his unreliable actions. When the dragon and the dinosaur fights the rest of us have to go around them.

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  16. Omg these reports are so condescending lmao. That bit about being bad at charts was all for the average viewers understanding lol.

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  17. Bush 1 gave us a recession, Clinton revived and expanded the economy, Bush 2 tanked the economy (the Great Recession), Obama resuscitated the economy and brought it back to health, and Trump trying to tank it again. See a pattern here?

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  18. Well, Trump can make a simple announcement and Wall Street will zoom off the chart. Maybe, Trump will resign and the country will recover.

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  19. Somebody needs to help Trump blame someone. Anyone. We need a scapegoat. Like we didn't know Obama did a better job than the bone spur toddler.

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  20. So I've heard from the maga trumpy support, for 3 fricken years about greatest economy ever. I've said he's riding a Obama wave. They would then degenerate into thier base forms. ( note: avoid the base forms of the maga trumpy support, because it is in these forms that they do the most drooling so to avoid being covered in maga drool don't talk about it still being Obama who had the economy going well) instead stick with the ball talking points. Hey, where's your ball? Is your ball a good bouncing ball? Is your ball a good red bouncing ball? And so on. Stick with the ball and there will be much less drool involved.

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  21. #🌏💡🇬🇧👑💕👍: RESPECTS&THANKSGIVINGS! “If I Was #PhysicallyImpairedButMentallyAlert: I Would Hitch-Hike On #DEM’sBackThrustingMeSafelyToAnAmazingGravyTrain All-In Amazing Exciting |GravyTrainJourney| Blue Lights Flashings; #DEMS’FlagsWavingInWithAmazingGrace!#DEMSInProgressiveMiraculousEconomicAndHealthJourneysThatWORKFOREVERYMORTALSOULS! #NEWPOWERFULBLUEWAVESINACTIONPOGRESS!#SDGs! A Revered Reflection:”MoreSignsOfSlowEconomyEmergeThisWeek|MorningJoe|MSNBC! #SeasonalGreetings!#ChristmasCarols|HarkTheHeraldsAngelsSing|GloryBeToGODInTheHighest!#HappyHalloween!#MerryChristmas!#HappyNewYear!|IRemainJoy|MSNBC! Huge Thanks Again For Sharing Such|AmazingGrace!💕🎉👏👍🙏{. RESPECTS&THANKSGIVINGS!

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  22. Joe used to be a big believer in tax cuts for the rich and trickle down economics. And now he's acting like it's stupid to believe in it.

    We libs always knew, Joe. We always knew.

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  23. Donald(duck)Trump is Very strong with the weak (and on the phone) but very weak with the strong! When he finds VLADIMIR PUTIN, he even wears diapers! Without a doubt, an American…

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  24. Every presidency the democrats have to reverse the downward spiral the republican tax cuts for the rich put us in.

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  25. #🌏💡🇺🇸🇬🇧👑👶🙅‍♂️💝💎💃❤️🎁💕🎉👏👍💡: RESPECTS&THANKSGIVINGS! A Musical, Professional,Lyrical|EducatingPerformingEntertainmentsACTSOnWorldStageMultiples,#IfIWasABoy? Ancestral Distant Drums Reverberating At DeafiningHighNotesLandsToShoresOceanicDividesWorld-Widest! Revered Perspectives Of #🌏💡🇺🇸AbrahamLincoln’sStatueOfLibertyRevolvingWorld24/7!#[email protected]#Racial!#GenderAmalgams!#SocialInjusticesBiblicalDeviantsSomeWithGrueIntentsAndIntentionalsSabotagingOurHugelyGiftedProgressive21st.Century+WorldForPersonalSelfishDerangedBrainsUntreatableButAviodableBiblicalZombiesProtagonistsAtBooksOfRevelations!#ZombieJamboree|HarryBelafonte|FearsNoMore|HAPPYBUTSAFEHALLOWEENNIGHTSGLOBALCELEBRATIONS;#BADDREAMSNOMORE?#TimeTellls!#SaveLives! RESPECTS&THANKSGIVINGS!{.

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  26. Republican Morning Joe and former lover, now wife, always talked over Meeka, are laughing to the bank with the extra money they got from the republican tax cuts they got on the millions they make talking about the "little lines on that graph, as a poor country lawyer".
    Giggly idiots !!!

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  27. How about we rethink Capitialism altogether, it is destroying the planet, it breeds inequality, greed. Leaders and the 1% need to spread their resources to make quality of living improved for everyone. Basic , practical eco friendly Housing for most marjoinalised.
    Consumerism has to stop, reuse , repurpose , recycle.

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  28. Good hair Joe! You are right the wealthy are buying back stocks so the value goes up and it has falsley inflated the stock market. Its a bubble thats going to burst. If higher wages arent given to the middle class, the economy will crash!

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  29. IT's so obvious WHY the Federal spending has skyrocketed… It's Trump sucking American Tax payer's money into his own pockets! That's why! Through his resorts, hotels, his golfing excursions to his own golf resorts, making the military stay at his resorts, etc…!!!

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  30. Do not worry Donald Trump has ready answers…. it is the Dems that slow the economy and impeachment is shrinking the economy

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  31. Obama's BOOST to our economy is finally taking a dump under the Donald. Didn't have to happen and trump could have gone for THE BEST! He didn't and that's ok.NOW! I just need to see him out of our Democracy before we don't have one!

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  32. I'm all for impeaching Trump, but Morning Joe is so smug, he really makes me want to hate Trump less.

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  33. The photo's of Mika and Joe posing like millionaires (which they are of course ) at the beginning of their video's is particularly tone deaf and insulting, it does however show the truth, you're Muggles to these people.

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  34. The Trickle Down Effect is a total myth, the super rich are there for themselves ..and don't understand that they stand on the shoulders of the average person but if the rich have it all the poorer people can't spend ?Consumerism is consuming it's self?As far as the trade war goes Trump will blame everyone but himself …if only Humpty Trumpty had his crazy wall to fall off …Give the world a break Donald …

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  35. Not sure other then his supporters believe he was going to make the economy better when it was already good and getting better when Obama left the WH. How is it possible for this Moron to make anything better when he has a history of making things worse, history of bankruptcies, failed marriages, how could anyone believe he and only he can fix anything is beyond me.

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  36. Trump will force the rate to drop to negative territory to stave off the avalanche of recession woes. Once he secures the next term the economy will collapse.

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  37. Did I just watch an 11 minute video where we all laughed heartily at our collapsing economy? I guess it's funny because it's supposedly Trump's economy. But it's our economy. We are all so partisan in our nature that we can't help it.

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  38. Looks fine from here….128,000 new jobs….unemployment 3.6%…give us another fake news headline..this one is bust.

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  39. Let's tell the truth. It doesn't matter who's in office. The Fed and world banks run this country. The banks tell world leaders what to do. It's all about money. You say you're confused than maybe you shouldn't be reporting the news. Allow the market to find fair market value without the banks printing money and see where the real economy would be.

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  40. The economy thats all trump supporters base their support for him. As long as the economy is doing good he can do and say anything he wants.

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  41. Any of you clowns remember where the DOW was in Nov 2016? It was hovering at about 16,000 points. Go look at where it is now.. The sky is not falling. the ceiling has been raised!

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  42. So if it slows down it is all Trumps fault. When it is booming, you do not report anything about it.

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  43. Farmer aid costs now more than double the 2009 auto bailout and manufacturing officially in recession.

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  44. Impeach….YES; It is time to get our country back….and start over again.. in the bright morning light; of, "We the People"
    with truth and justice coming out of the White House……Trump has not been a President for all the people – just his voters.
    Mr. Donald J. Trump needs to go and please have him take all those republican allies with him. Vote them out..please!!!

    Reply

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