The national media's wish for a recession may go unfilled

The national media keeps cheering for a recession, because they think it'll get President Trump out of the White House, but some experts say they're not likely to get one any time soon.

America's Money Answers Man Jordan Goodman says he's not worried.

"I don't think a recession is looming; the retail sales numbers for September were definitely lower than expected, but a large part of that is the auto market, where car sales have been much lower than in previous years.

Goodman says many of the economic indicators remain strong.

"The unemployment rate is at its lowest level in 50 years, which certainly helps the retail sector of the economy; so, there's no law that says after ten years you have to have a recession."

Goodman says the economy can continue to grow because interest rates are low, oil prices are stable and consumer incomes have risen.

"The constant recession talk is because we're in the midst of the longest economic expansion in American history -- it's been over ten years. Everybody says 'the cycle's got to end at some point' and people are always looking for when a recession is going to happen -- this has been going on for about three years, they've been calling for a recession!"

Goodman says more economic indicators are positive than negative, but he is concerned about Brexit. A non-negotiated split from the EU could affect America's ability to sell goods in those markets.

 
 

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