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Trump’s economic adviser doesn’t see a recession coming — but he said the same thing in 2008

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President Donald Trump’s chief economic adviser insists there are no signs of a recession on the horizon — but he’s been staggeringly wrong before.

Larry Kudlow went on NBC’s “Meet the Press” over the weekend to assure viewers that no economic downturn was coming, but the Washington Post‘s Aaron Blake pointed out that his track record for predictions was pitiful.

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“Well, I’ll tell you what: I sure don’t see a recession,” Kudlow told host Chuck Todd. “So I think actually the second half, the economy’s going to be very good in 2019.”

That sounds a lot like what Kudlow was saying in 2007 and 2008 — just before a deep recession hit.

Kudlow praised the “Bush boom” in a December 2007 column for the National Review, and reassured nervous investors the economy was just fine.

“There’s no recession coming,” Kudlow wrote at the time. “The pessimistas were wrong. It’s not going to happen … The Bush boom is alive and well. It’s finishing up its sixth consecutive year with more to come. Yes, it’s still the greatest story never told.”

Kudlow kept on singing the same tune in another column, from February 2008, even as signs mounted of economic trouble.

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“I’m going to bet that the economy will be rebounding sometime this summer, if not sooner,” he wrote. “We are in a slow patch. That’s all. It’s nothing to get up in arms about.”

Kudlow’s optimism never wavered, at least in his public pronouncements, as late as July 2008, despite surging foreclosures and tumbling stocks.

“An awful lot of very good new news, which appear to be pointing to a bottom in the housing problem,” Kudlow chirped. “In fact, maybe the tiniest beginnings of a recovery.”

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Kudlow’s predictions haven’t gotten any more accurate since getting an office in the White House in March 2018.

He claimed in June 2018 that the deficit was “coming down rapidly” due to economic growth, but the deficit wasn’t coming down at all — and he offered a flimsy excuse when he was called out by CNBC’s Eamon Javers.

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“I was referring to future deficits,” Kudlow said. “I think it will come down in 2018, and the big reductions will come in future years.”

That hasn’t happened, and, in fact, the deficit grew by 17 percent in fiscal year 2018, and projections show it’s headed toward $1 trillion.

The deficit isn’t coming down this year, either, despite an increased rate of economic growth, and doesn’t appear likely to come down anytime soon.

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Kudlow predicted in January 2018 that the GDP would grow between 3 percent and 4 percent, thanks to the Republican tax cuts, but has so far grown by only 2.5 percent.

He predicted in April 2018 that the GDP would reach 5 percent growth, for at least a brief period, but the highest quarterly growth measured since then was 3.5 percent.


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Fox News reporter and right-wing conspiracy theorists planned to wiretap family of slain DNC staffer Seth Rich: report

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The Daily Beast on Monday evening broke a bombshell report on a secret 2017 meeting in Texas on a right-wing conspiracy theory where espionage was discussed.

"One of their topics was responding to online critics of wealthy Texas businessman Ed Butowsky, who had recently been outed as a driving force behind a retracted Fox News story about murdered Democratic National Committee staffer Seth Rich," The Beast reported. "The group that gathered at Butowsky’s home included a conspiracy theorist, a Fox reporter fighting for her career, a former private intelligence contractor married to star journalist Lara Logan, and a Democratic PR operative who lost his business in the face of sexual assault allegations."

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Maddow breaks down potential ‘direct financial connection’ between the Russian government and Donald Trump

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MSNBC anchor Rachel Maddow read bombshell excerpts from a new book set for release on Tuesday.

The host interviewed David Enrich, finance editor at The New York Times, about his forthcoming book Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction.

The host of "The Rachel Maddow Show" read excerpts from the book.

"There was no doubt that Deutsche Bank had extensive business dealings with Russia, and those dealings included acting as a conduit for dirty money to get out of Russia and into the western financial system," Enrich wrote.

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Trump said he ‘loved’ the fact that America is more divided than ever: ex-GOP congressman

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President Donald Trump bragged about increasing divisions in America during a White House meeting, a former Republican congressman explained on MSNBC on Monday.

Former Rep. David Jolly (R-FL) told host Joy Reid that "Donald Trump has intentionally tried to create the anxiety" that Americans are explaining.

"Garry Kasparov, the Russian freedom activist, has said the point of disinformation isn't to manipulate the truth, it's to exhaust your critical thinking," Jolly explained. "To exhaust your critical thinking, that's what we're experiencing as voters."

"I had a colleague that was in a meeting in the Roosevelt Room and he said he heard Trump say, 'Have you ever seen the nation so divided?' My colleagues and others said, 'No, we haven't.' Trump said, 'I love it that way.' This is the currency that he's peddling as political strategy, but it's not one we have to accept," Jolly explained.

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