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Wall Street panicking: There’s a 1-in-3 chance of a recession by 2020 thanks to Trump’s trade meddling

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Monday’s 400-point Dow slide was far from the worst single day stock market performance under President Donald Trump. But it represents a lasting and growing fear on Wall Street that the massive, uninterrupted stretch of economic growth over the past decade could finally be drawing to a close.

As Politico reported on Tuesday, economists at large institutions are increasingly worried that a recession will hit before the 2020 presidential election — and they put the blame squarely on Trump’s trade policies.

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“We are worried,” wrote analysts from Bank of America. “We now have a number of early indicators starting to signal heightened risk of recession. Our official model has the probability of a recession over the next 12 months only pegged at about 20 percent, but our subjective call based on the slew of data and events leads us to believe it is closer to a 1-in-3 chance.”

President Donald Trump has tried to pass the buck for economic instability onto the Federal Reserve, with which he has repeatedly fought over interest rate hikes. But economists at Goldman Sachs, led by Jan Hatzius, said on no uncertain terms that the real problem is the trade war.

“Fears that the trade war will trigger a recession are growing,” the economists’ report stated. “We expect tariffs targeting the remaining $300 billion of U.S. imports from China to go into effect and no longer expect a trade deal before the 2020 election.”

The consequences of a recession at this juncture would be severe, as Trump and the previous Republican Congress have already stretched thin the conventional fiscal policy tools for stimulus with a massive tax cut for the rich, and the Fed has little room to cut interest rates with Trump already having leaned on them to keep rates low. Such a contraction could, as in 2008, kill millions of jobs and force large sectors of the American economy to restructure.

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BUSTED: National Archives caught doctoring exhibit to remove criticism of President Trump from women

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The National Archives were caught editing an artifact from the Trump administration to remove criticism of the president, according to a bombshell new report in The Washington Post.

The newspaper reported on a "large color photograph" at the National Archives exhibit marking the centennial of women's suffrage.

"The 49-by-69-inch photograph is a powerful display. Viewed from one perspective, it shows the 2017 march. Viewed from another angle, it shifts to show a 1913 black-and-white image of a women’s suffrage march also on Pennsylvania Avenue. The display links momentous demonstrations for women’s rights more than a century apart on the same stretch of pavement. But a closer look reveals a different story," the newspaper noted.

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Dershowitz is running a ‘bizarro defense’ of Trump: Harvard Law colleague says ‘Alan is just completely wacko’

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Two of the most famous names associated with Harvard Law School had competing appearances on MSNBC on Friday.

It began when Alan Dershowitz, a professor emeritus, was interviewed MSNBC chief legal correspondent Ari Melber about his new role officially representing President Donald Trump during the Senate impeachment trial.

Dershowitz claimed that neither abuse of power nor obstruction of Congress count as "high crimes" under the constitution.

Professor Alan Dershowitz, who has also been associated with Harvard Law for five decades, was asked about Dershowitz's argument during an interview with Chris Hayes.

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Why was Lev Parnas wearing a ‘Presidential Service Badge’ awarded to troops who serve in the White House?

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Pulitzer Prize-winning New York Times journalist Maggie Haberman posted a fascinating update about a photo of impeachment figure Lev Parnas.

The photo shows Igor Fruman -- who, like Parnas, is under federal indictment -- sitting closely next to Rudy Giuliani and Parnas.

Haber said a source informed her that in the picture, Parnas can be seen wearing a "Presidential Service Badge," linking to the Wikipedia entry on the pin.

"The Presidential Service Badge (PSB) is an identification badge of the United States Armed Forces which is awarded to members of the U.S. Army, U.S. Navy, U.S. Air Force, U.S. Marine Corps, and U.S. Coast Guard as well as other members of the Uniformed Services, such as the U.S. National Oceanic and Atmospheric Administration Commissioned Corps and the U.S. Public Health Service Commissioned Corps, who serve as full-time military staff to the President of the United States," Wikipedia explained.

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