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Trump unlikely to ask Democrats for help with recession, says analyst: ‘I’d also like a unicorn for my birthday’

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On Saturday, The New York Times examined what it might look like if President Donald Trump has to deal with a recession in 2020.

One of the grim takeaways was that Trump would likely be incapable of digging America out of the hole he had created — because he would be unable to overcome political rivalries to do so.

“You could get a widespread fiscal response to a recession,” said Harvard Kennedy School senior fellow Megan Greene. “That would be really nice, but I’d also like a unicorn for my birthday.”

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The fundamental problem — even aside from how Trump has bullied the Federal Reserve out of its monetary policy tools and passed a gigantic tax cut for the rich that weakened fiscal policy tools, is that Trump would have to negotiate with House Democrats to get any kind of emergency economic measures passed.

President George W. Bush had to do this in 2008, working hand in hand with a Democratic Congress to pass the Troubled Asset Relief Program (TARP) as well as a $152 billion stimulus program. But it is hard to imagine Trump using the same level of interparty diplomacy under pressure.

Making matters worse, it is Trump’s trade policy that is directly worsening the chances of the recession happening in the first place.

“It is potentially a self-inflicted-wound type of recession,” said George Washington University economist Tara Sinclair. “But how deep that gash goes depends on many other characteristics of the economy and the policy response thereafter.”

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2020 Election

Trump’s longshot bid to win New Mexico has political leaders baffled: ‘He’s a batsh*t racist’

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Despite losing New Mexico by eight points in the 2016 presidential election, Donald Trump and his campaign manager Brad Pascale are making big plans to win the state in 2020 -- and that has political observers baffled.

With Trump appearing in New Mexico on Monday night, Politico reports the president has his work cut out for him in a state that saw the GOP lose the governorship and one House seat in 2018.

"The Land of Enchantment has voted for a Republican presidential candidate only once since 1992. With a considerable nonwhite voter population and all-Democratic congressional delegation, it’s not exactly fertile ground for a surprise GOP victory," the report notes before adding that Parscale feels they can make inroads this go-around.

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Oil prices soar more than 10% after Saudi plant attacks

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Oil prices surged more than 10 percent Monday after attacks on two Saudi Arabian plants that slashed output in the world's top producer by half, with Donald Trump blaming Iran and raising the possibility of a military strike on the country.

West Texas Intermediate jumped 10.68 percent to $60.71 and Brent climbed 11.77 percent to $67.31 in early Asia trading following the blasts at facilities run by state-owned giant Aramco.

The attack by Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, effectively shut down six percent of the global oil supply.

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2020 Election

Most top Democratic presidential candidates demand Kavanaugh’s impeachment – but not all

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Most of the top Democratic presidential candidates are issuing calls demanding U.S. Supreme Court Justice Brett Kavanaugh be impeached, after new allegations of sexual misconduct in a bombshell New York Times report late Saturday night. Most of the candidates, but not all.

Julián Castro, Saturday night at 11:25 PM:

It’s more clear than ever that Brett Kavanaugh lied under oath. He should be impeached.

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