Top Stories Today – August 19, 2019
Top Stories Today – August 19, 2019
34% of economists expect a US recession in 2021
A number of US business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the US by the end of 2021. Thirty-four percent of economists surveyed by the National Association for Business Economics, in a report being released Monday, said they believe a slowing economy will tip into recession in 2021. That’s up from 25% in a survey taken in February. Only 2% of those polled expect a recession to begin this year, while 38% predict that it will occur in 2020.
Trump, however, has dismissed concerns about a recession, offering an optimistic outlook for the economy after last week’s steep drop in the financial markets and saying on Sunday, “I don’t think we’re having a recession.” A strong economy is key to the Republican president’s 2020 reelection prospects. The economists have previously expressed concern that Trump’s tariffs and higher budget deficits could eventually dampen the economy. The Associated Press
Appeals to white may be a bad sell in 2020 for Trump
US President Donald Trump’s anti-immigrant rhetoric and focus on the grievances of white voters helped him win the 2016 election. But a Reuters analysis of public opinion over the last four years suggests that Trump’s brand of white identity politics may be less effective in the 2020 election campaign.
The analysis comes amid widespread criticism of Trump’s racially charged comments about four minority women lawmakers and the fallout from a mass shooting of Hispanics in El Paso, Texas, that many Democratic presidential candidates swiftly blamed on the president’s rhetoric. Reuters/Ipsos polling of 4,436 US adults in July showed that people who rejected racial stereotypes were more interested in voting in the 2020 general election than those who expressed stronger levels of anti-black or anti-Hispanic biases. Polls in 2016 showed the reverse. Reuters
3 potential mass shootings were foiled in US
Three potential mass shootings were foiled over the last several days, authorities in Connecticut, Florida, and Ohio announced Sunday, thanks to tips from the public. In Connecticut, a 22-year-old man was arrested after police received a tip he wanted to buy large capacity rifle magazines from out of state. He wrote on Facebook that he was interested in committing a mass shooting, authorities said, and faces four charges of illegal possession of large capacity magazines.
A 25-year-old man in Florida was arrested Friday after he allegedly sent his ex-girlfriend text messages threatening to commit a mass shooting; he will be charged with making written threats to kill or do bodily injury. A 20-year-old man was arrested Saturday after allegedly threatening to carry out a shooting at a Jewish community center in Youngstown, Ohio. His Instagram account featured white nationalist and anti-Semitic comments, authorities said. CNN via The Week
US Commerce Secretary downplays fears of recession
US Commerce Secretary Wilbur Ross on Monday added to a chorus of presidential officials downplaying concerns over a looming recession after the US Treasury yield curve temporarily inverted last week for the first time in 12 years.
“Eventually there’ll be a recession, but this inversion is not as reliable, in my view, as people think,” Ross said in an interview with Fox Business Network. Reuters
Trump does not want to do business with Huawei
US President Donald Trump on Sunday said he did not want the United States to do business with China’s Huawei even as the administration weighs whether to extend a grace period for the company. Reuters and other media outlets reported on Friday that the US Commerce Department is expected to extend a reprieve given to Huawei Technologies Co Ltd that permits the Chinese firm to buy supplies from US companies so that it can service existing customers.
On Sunday, Trump told reporters before boarding Air Force One in New Jersey that he did not want to do business with Huawei for national security reasons. Reuters
Sudan’s ex-president given millions from Saudis
A detective has told a court in Sudan that former President Omar al-Bashir admitted to receiving millions of dollars from Saudi Arabia. Bashir appeared in court on Monday to face corruption charges, which his lawyers say are baseless. He was ousted in April after months of protests, bringing an end to his nearly 30 years in power.
In June, prosecutors said a large hoard of foreign currency had been found in grain sacks at his home. On Sunday, pro-democracy activists and the country’s military leaders, who had removed Bashir, signed a deal paving the way for elections. BBC
Apple CEO Warns Trump About China Tariffs
US President Donald Trump said on Sunday that he has spoken with Apple Inc’s Chief Executive Tim Cook about the impact of US tariffs on Chinese imports as well as competition from South Korean company Samsung.
Trump said Cook “made a good case” that tariffs could hurt Apple given that Samsung’s products would not be subject to those same tariffs. Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on Sept. 1 and Dec. 15. “I thought he made a very compelling argument, so I’m thinking about it,” Trump said. Trump made the comments while speaking with reporters on the Tarmac at the Morristown, New Jersey, airport. The Voice of America
Chinese K-pop stars publicly back Beijing on Hong Kong
At least eight K-pop stars from China and even one from Taiwan and one from Hong Kong are publicly stating their support for Beijing’s one-China policy, eliciting a mixture of disappointment and understanding from fans. Many of the statements came after protesters opposed to Beijing’s growing influence over semi-autonomous Hong Kong removed a Chinese flag and tossed it into Victoria Harbor earlier this month.
Lay Zhang, Jackson Wang, Lai Kuan-lin and Victoria Song were among the K-pop singers who recently uploaded a Chinese flag and declared themselves as “one of 1.4 billion guardians of the Chinese flag” on their official Weibo social media accounts. Wang is from Hong Kong and Lai is from Taiwan. The Voice of America
Trump says he’s still interested in buying Greenland
President Donald Trump confirmed on Sunday that he’s “interested” in buying Greenland. The only problem? It’s not actually for sale. “It’s something we talked about,” he told reporters on Sunday. But officials in Greenland have repeatedly said that it’s not for sale. And Denmark confirmed on Sunday that it’s not interested in selling the island.
Trump’s interest in acquiring the 811,000-square-mile island in the North Atlantic was first reported last week by The Wall Street Journal. Citing sources familiar with the deliberations, the Journal reported that Trump has mentioned the idea with “varying degrees of seriousness.” NBC News confirmed the president’s interest in such an acquisition. NBC News
Key Maduro ally reportedly in secret talks with US
The US has opened up secret communications with Venezuelan socialist boss Diosdado Cabello, an alleged drug kingpin and the second most powerful person in Venezuela, after President Nicolás Maduro, The Associated Press reports, citing a senior US administration official. Cabello, 56, met with a US-backed envoy in Caracas last month, the official said, and Axios reports that National Security Council official Mauricio Claver-Carone has been communicating with Cabello through emissaries.
US officials tell both Axios and AP that Cabello is among a handful of top Maduro officials who have secretly reached out to the US to negotiate safety guarantees if they help topple Maduro. An unidentified Cabello aide told AP that the US has been chasing Cabello, and Cabello would only meet with US officials with Maduro’s permission. The Associated Press, Axios via The Week