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Trump supporters freak out at Fox Business after it reports that a top ‘recession indicator’ is ‘flashing red’

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The inversion of the U.S. Treasury yield curve on Wednesday sparked fresh fears of a coming recession in the United States — and even President Donald Trump’s favorite business network reported on it.

An article by Fox Business’ Jonathan Garber features the headline “Recession indicator with perfect track record flashing red,” and it contains plenty of unwelcome news for the president as he prepares to head into a tough reelection fight.

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“The yield curve is blaring a recession warning,” Garber writes. “The spread between the U.S. 2-year and 10-year yields on Wednesday turned negative for the first time since 2007. Such a development has occurred ahead of each and every U.S. recession of the last 50 years, sometimes leading by as much as 24 months.”

The reason why this inversion is seen as a sign of a possible recession is that yields on ten-year bonds are usually higher than yields on two-year bonds because there is greater risk involved in investing in a long-term bond, which means investors in those bonds demand higher payouts than investors in short-term bonds.

So when the so-called yield curve inverts — that is, when ten-year bonds actually pay less than two-year bonds — it is seen as a sign that investors believe there are significant risks to the economy and are flooding their cash into safe harbors.

Needless to say, this news did not sit well with the Trump fans in Fox Business’s comments section.

“This is just ignorant fear mongering.This inverted yield curve DOES NOT have a perfect record in calling a recession,” wrote one user. “Although each recession has been preceded by an inverted curve, sometimes preceded by 2 years, not every yield curve inversion has been followed by a recession.”

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Another user, who goes by the name of “Kenndog,” accused Fox Business of “cherry picking” numbers — and then acknowledged that a recession could come anyway.

“The truth is that recessions come and go as a natural part of the economic cycle. Right now, we’re in a sweet spot that could last a generation,” the user wrote. “Or not.”

Other Trump fans, meanwhile, remained in total denial and argued a recession in 2020 would only help Trump win.

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“And this boys and girls is why we have President Trump,” one user wrote. “His anti-globalist methods are good for OUR country. Let the other countries get their own nationalist leader. Trump 2020….And Beyond!!!!!!”


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Trump has committed 6 impeachable offenses: Harvard Law’s Laurence Tribe says ‘the evidence is all there’

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Constitutional law expert Laurence Tribe broke down the six impeachable offenses President Donald Trump has committed during a Thursday appearance on MSNBC's "The Last Word" with Lawrence O'Donnell.

Tribe has argued 36 cases before the United States Supreme Court and taught at Harvard Law for 50 years. He co-authored the 2018 book To End a Presidency: The Power of Impeachment with Joshua Matz.

"Everyone was in the loop, it was no secret. That was the testimony from Ambassador Gordon Sondland yesterday as he implicated the president, Secretary of State, White House chief of staff, and former National Security Advisor John Bolton and other administration officials in the plot to bribe the president of Ukraine to publicly launch an investigation into Joe Biden in exchange for U.S. military aid to Ukraine that was authorized by Congress and that the president was withholding," O'Donnell reported.

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Rachel Maddow breaks down how public opinion is catching up with the facts of Trump’s impeachment

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MSNBC anchor Rachel Maddow on Thursday broke down how the details from the televised impeachment hearings are being reported in local newspapers.

The host read the headlines from multiple newspapers following the damning testimony by Ambassador Gordon Sondland.

The Los Angels Times headlined, "Sonland implicates president." "Envoy says Trump directed effort," was The Wall Street Journal headline.

The St. Louis Post-Dispatch headlined, "'Everyone was in the loop. It was no secret': Defiant Sondland says he followed Trump's orders."

"Trump directed pressure on Ukraine, ambassador says," headlined The Kansas City Star.

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Shep Smith blasts autocrats in first public remarks since leaving Fox News — and donates $500,000 to protect journalists

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On Thursday, for the first time since exiting Fox News, reporter Shepard Smith gave public comments at the International Press Freedom Awards — and used the occasion to blast autocratic leaders who use their power to suppress journalism.

"Intimidation and vilification of the press is now a global phenomenon. We don’t have to look far for evidence of that,” said Smith. "Our belief a decade ago that the online revolution would liberate us now seems a bit premature, doesn’t it? Autocrats have learned how to use those same online tools to shore up their power. They flood the world of information with garbage and lies, masquerading as news. There’s a phrase for that."

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