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Radio Atlantic

Recession Politics

Radio Atlantic

The Atlantic

Politics, News, Society & Culture

4.41.9K Ratings

🗓️ 23 August 2019

⏱️ 43 minutes

🧾️ Download transcript

Summary

This week showed increasing signs that a recession could be on the horizon. Manufacturing is shrinking. Job growth is slowing. The markets are spooked — and now so is the president. But what exactly is happening? Annie Lowrey joins Isaac Dovere to make sense of the recession news. (What exactly is the yield curve and why does it matter?) They discuss what a downturn would do to the 2020 race. And they explore why many voters don’t feel economically secure despite record growth. This June marked the longest economic expansion in U.S. history, but also the one decade anniversary of the Great Recession ending. How did that experience remake the political landscape? Have most Americans really recovered? And what would a new recession mean for them? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You! This is Radio Atlantic. I'm Isaac Daubert. This summer the U.S. celebrated its longest economic expansion in history.

0:24.0

June 2019 marked a full decade since the end of the Great Recession.

0:29.0

But, many of the people who pay close attention to these things are worried about hitting that record.

0:34.0

After all, what goes up must come down.

0:38.0

And recently we've seen warning signs of another recession around the corner.

0:41.0

Many of the economic numbers that President Trump

0:43.7

used to tout on Twitter aren't so great anymore. Manufacturing is slowing, the stock market

0:49.3

is spooked, and the Fed cut interest rates for the first time since the Great Recession.

0:54.0

So this week he's wavered between claiming the economy has never been better

0:58.0

and throwing out suggestions for new tax cuts, of course without any legislative negotiations to speak of.

1:05.0

So what exactly is happening?

1:07.1

Is a recession around the corner and what would happen if one arrived?

1:10.7

I spend my time chasing candidates around the country, seeing and hearing what they're seeing and hearing on the ground and I have to say

1:16.5

For all the stories we write all the other issues at play our politics often comes down to how people feel about getting through their own lives, paying

1:24.4

their bills, feeling like someone is watching out for them on the basics.

1:29.7

Despite the record expansion, you can feel the anxiety in people, knowing they're not all right now and

1:34.3

wondering if they ever will be again. So with me to talk about all this and to explain

1:39.2

the economics is Atlantic staff writer Annie Lowry. Annie, thanks for coming on the show.

1:44.0

Thanks for having me, Isaac.

1:46.0

So let's talk about where we are.

1:49.0

Is there a recession coming?

1:50.0

What is this that's going on in the economy right now?

...

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