Letter from Chip Northrup
Trump Recession Is On Its Way
To paraphrase Tolstoy, “All happy economies look the same, all unhappy economies are different.” Trump Recession 2.0 will be, unlike Trump Recession 1.0, entirely self-inflicted. The Trump Tariff Taxes are both recessionary and inflationary, e.g. “stagflation,” in that they will increase manufacturing and retail costs across the board, which leads to decreased consumption and economic stagnation. The DOGE cuts in government employment and government programs will lead to higher unemployment rates—which is the hallmark of a recession.
