Many economists have become convinced that a recession in the United States is now overdue, if not immediately then surely before the 2020 presidential election. But US recessions since the end of World War II have generally resulted from three causes, none of which is currently present.
LONDON – The US economy has entered its 11th year of uninterrupted expansion, breaking the previous record for the longest period of growth in American history without a recession. But far from celebrating, many economists conclude from this unprecedented performance that a recession is now overdue, if not immediately then surely before the 2020 presidential election. Fortunately for the US economy, but sadly for President Donald Trump’s opponents, the idea that economic expansions have some kind of natural lifespan and then die of old age has neither empirical nor theoretical support.
LONDON – The US economy has entered its 11th year of uninterrupted expansion, breaking the previous record for the longest period of growth in American history without a recession. But far from celebrating, many economists conclude from this unprecedented performance that a recession is now overdue, if not immediately then surely before the 2020 presidential election. Fortunately for the US economy, but sadly for President Donald Trump’s opponents, the idea that economic expansions have some kind of natural lifespan and then die of old age has neither empirical nor theoretical support.