{"id":330649,"date":"2019-12-06T16:12:00","date_gmt":"2019-12-06T21:12:00","guid":{"rendered":"https:\/\/admin.rushlimbaugh.com\/?p=330649"},"modified":"2019-12-09T15:43:09","modified_gmt":"2019-12-09T20:43:09","slug":"boom-weres-your-recession-now","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2019\/12\/06\/boom-weres-your-recession-now\/","title":{"rendered":"Boom! Where\u2019s Your Recession Now?"},"content":{"rendered":"<p>RUSH: Wait a minute! Wait a minute! What the heck\u2019s going on? I thought we were headed for a recession. We were gonna have a recession. I mean, as recently as May and June, we were headed into a recession. Remember that? It was the consensus of all the financial experts in the media. They said, &#8220;Buckle up. A recession is coming.&#8221; Well, it sure doesn\u2019t feel like that to me, folks.<\/p>\n<p>JOHNNY DONOVAN: And now, from sunny South Florida, it\u2019s Open Line Friday!<\/p>\n<p>RUSH: &#8220;U.S. Jobs Trounce Forecasts: 266,000 New Jobs.&#8221; The aforementioned experts &#8212; themselves dripping with hatred &#8212; predicted 180,000 jobs. It\u2019s 266,000 jobs created. The economy is roaring. We have a 50-year low unemployment, 3.5% &#8212; a 50-year low. More black men have jobs than ever before. The African-American approval rating for Donald Trump is hovering in the 34 to 35% range. Audio sound bite number 3, Jim Cramer CNBC this morning.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/zKuEBt4DQzg\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>CRAMER: Cable, CNN, MSN, what do they cover? Number 16, 16th, is positive economic news. All the rest of \u2019em are negative! So you know what\u2019s going on here. People don\u2019t want to say good things, and this is the best number I\u2019ve ever seen in my life! &#8230; When we win the trade war &#8212; which you know we\u2019re gonna win now because we have the better numbers &#8212; then they\u2019re going to have to put the jobs here. That\u2019s what they\u2019re going to have to do. We\u2019re not even talking about that yet. In the end, the Chinese are gonna have to put the jobs here. Because this thing is&#8230; The president can walk away from the table with this number. You can\u2019t contradict these are the best numbers of our lives. It doesn\u2019t matter whether you hate him or like him, these are real numbers!<\/p>\n<p>RUSH: There is nothing comparable to this, folks: 3.5% unemployment, a 50-year low, African-Americans with more jobs than they\u2019ve ever had before &#8212; expressed as a percentage and in real per capita numbers. Wage growth is commensurate with the job creation. What Cramer\u2019s talking about there with the ChiComs&#8230; I addressed this yesterday. The trade deals that we have had with the ChiComs for the last few decades literally added up to the greatest transfer of wealth out of the American middle class. It went to China.<\/p>\n<p>How did that transfer of wealth happen? It\u2019s not that you were taxed per se and they took a certain amount of money from you and sent it to the Chinese. The way it worked was with trade deals, jobs were lost. That\u2019s middle-class wealth. Manufacturing and other jobs went over to China. In addition, the products that were then manufactured in China were allowed in, but the jobs remaining in America and products manufactured here, the Chinese did not buy, they did not import. But we imported their products that used to be made in the United States.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2019\/12\/06\/cramer-like-or-hate-trump-these-are-the-best-numbers-of-our-lives-on-jobs.html\"><img loading=\"lazy\" class=\"aligncenter size-full wp-image-330656\" src=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/12\/APP-CNBC-News-TEARAWAY-120619.jpg\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/12\/APP-CNBC-News-TEARAWAY-120619.jpg 640w, https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/12\/APP-CNBC-News-TEARAWAY-120619-300x169.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a>It was a never-ending cycle that repeated, and it was part of the deep state New World Order. And for who knows what reasons. Keeping the Chinese at bay. Ostensibly they could make the case they were trying to infuse a little capitalism into a communist system, and there may be a point to be made for that. But anyway, this was what Trump was talking about all during the campaign. Now, Trump never used the words, &#8220;Our trade deals with China have resulted in the greatest transfer of wealth ever out of the American middle class.&#8221;<\/p>\n<p>But when Trump talked about how much money it cost and how stupid it was, that is what he meant. Cramer is saying this upcoming trade deal with the ChiComs now, Trump\u2019s gonna win it, and he is. No matter how long he has to wait, he is gonna win it because this is something that fundamentally must be done, and the strength of the U.S. economy in the midst of this trade war with the ChiComs is gonna show them they\u2019ve got nowhere to go &#8212; and in the midst of all of this, what are the Democrats doing?<\/p>\n<p>The Democrats have nothing. The Democrats are not even running on issues like this. The Democrats have openly, publicly decided that none of this matters. They\u2019ve tried to make people think they care about the cost of prescription drugs. They\u2019ve tried to make people think they care about health care and fairness and equality and rising incomes. They don\u2019t care a smidgen! They haven\u2019t been involved. There isn\u2019t a single Democrat fingerprint on any of this good economic news.<\/p>\n<p>The only fingerprints you\u2019ll find attached to Democrats are on this bogus impeachment move because all it is is a campaign tactic. It\u2019s all they\u2019ve got. And it is being driven&#8230; I was on Fox &amp; Friends today, and I made the point, but I\u2019m gonna keep pounding this point. This is driven by raw hatred. Raw hatred for you for electing Trump. Raw hatred for us. Raw hatred for him. It\u2019s on display each and every day when any Democrat goes on television.<\/p>\n<p>They cannot hide their contempt, and now they\u2019re not even trying to hide it. And for some reason they believe that matched against all of this great economic news &#8212; which has not abated. It has continued on its upward trend line since Trump was inaugurated. Actually, since before that. People were optimistic before Trump was even elected on the hopes that he would be elected. The trend line has been constantly upward. The Democrats literally believe they were elected to run the House to get rid of Donald Trump.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-311523\" src=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/06\/APP-060719-Trump-Economy.jpg\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/06\/APP-060719-Trump-Economy.jpg 640w, https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/06\/APP-060719-Trump-Economy-300x169.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>Donald Trump was elected for many reasons. One of the reasons was to drain the swamp &#8212; to reduce the power, the reach, the impact of all of these elites who were responsible for transferring wealth out of the middle class to China and Iran and wherever else. Trump was elected to stop that. He was elected to expose these people. He\u2019s succeeding in doing that. He\u2019s gonna win in a landslide. Donald Trump\u2019s doing everything he said he was gonna do.<\/p>\n<p>There\u2019s nobody that voted for Donald Trump that\u2019s unhappy with it. There\u2019s nobody who voted for Donald Trump who\u2019s mad at him. Well, I can\u2019t say that. They might be mad at him \u2019cause he hasn\u2019t build the border wall. They might be mad at him \u2019cause some of his agenda hasn\u2019t happened yet. But they\u2019re not mad at him because he\u2019s failed to lift the economy. How in the world could a Trump voter be upset with him?<\/p>\n<p>If you want to know the real measure of voter sentiment, take a look at what happened with Plugs out in Iowa yesterday. That\u2019s where real voter sentiment is.<\/p>\n<p>BREAK TRANSCRIPT<\/p>\n<p>RUSH: I can\u2019t wait to get to these sound bites, all these Democrats and experts predicting an imminent rescission just this past summer. We\u2019ll get to that as soon as we get out of the break the next half hour. But listen to this. It looks like Donald Trump got the last laugh. A few days after Canadian prime minister <a href=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/daily\/2019\/09\/19\/trudeau-joins-long-list-of-racist-liberals-in-blackface\/\">Justin &#8220;Blackface&#8221; Trudeau<\/a> was caught having a laugh at the expense of Trump, the U.S. economy is reported to have added 266,000 jobs in November while Canada &#8212; dadelut, dadelut, dadelut, dadelut &#8212; lost 71,200 jobs, the biggest monthly loss of jobs in Canada since the financial crisis.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-322675\" src=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/09\/APP-091919-Trudeau.jpg\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/09\/APP-091919-Trudeau.jpg 640w, https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/09\/APP-091919-Trudeau-300x169.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>Remember when that was? That was 2008. So maybe along with the French President Macron, maybe this little guy &#8212; maybe this young whippersnapper up in Canada &#8212; should stop making fun of Trump, and maybe, just maybe start learning from him. We added 266,000 new jobs in November. Experts forecast 180,000. Canada: Minus 71,000.<\/p>\n<p>BREAK TRANSCRIPT<\/p>\n<p>RUSH: I want to go back to the jobs numbers: 266,000 jobs, a 50-year record low unemployment rate, 3.5%. More African-Americans working and more African-American jobs created than at any time in history. African-American approval rating for Donald Trump hovering in the 34% range. You throw that little factoid in with what\u2019s happening to them in their primaries, and the falling by the wayside of their female and people-of-color candidates.<\/p>\n<p>And then there\u2019s this: The United States just became a net oil exporter for the first time ever. Job creation high, wage increases high, disposable income high, and rising energy costs are low. No new wars. Peace and prosperity, as I said so eloquently today on Fox &amp; Friends. The legacy every president hopes and dreams for: Peace and prosperity. Donald Trump, to date and so far, is the only president who has not started a war to excite the economy, to rev up the economy.<\/p>\n<p>Donald Trump, in fact, is trying to get us out of places he thinks we have no place being, including such an exposed position in NATO. He wants us out of Syria. Bill Clinton launched a bunch of wars, little skirmishes during his impeachment.<\/p>\n<p>BREAK TRANSCRIPT<\/p>\n<p>RUSH: Now the economic news comes out, and it is just through the roof &#8212; and I thought&#8230; Folks, I thought we were gonna have a recession. Why, it was not that long ago that every financial expert was predicting a recession, and I want to go back in time. I want to go back to the Grooveyard of Forgotten Montages and remind you of this. We\u2019re gonna start with Joe Biden actually from this morning. He\u2019s on the CNBC website, chief correspondent John Harwood, who is also a Democrat hack.<\/p>\n<p>Well, he used to be at the Wall Street Journal, I think, the New York Times, you know, revolving door. John Harwood said to Biden, &#8220;Do you still favor the Balanced&#8230;?&#8221; Did this happen this morning? Yeah. &#8220;Do you still favor the Balanced Budget Amendment that you voted for in 1990?&#8221; Where does this question come from? The Balanced Budget Amendment? It\u2019s because nobody cares about deficits anymore, nobody cares about the budget deficit, nobody cares about national debt. So they\u2019re trying to take Trump\u2019s economy and say, &#8220;It\u2019s not good, it\u2019s irresponsible.&#8221; So they\u2019re bringing Biden in, &#8220;Do you still support the Balanced Budget Amendment?&#8221;<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-313091\" src=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/06\/APP-062019-operation-plugs-BIDEN.jpg\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/06\/APP-062019-operation-plugs-BIDEN.jpg 640w, https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/06\/APP-062019-operation-plugs-BIDEN-300x169.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>BIDEN: No, because we\u2019re in a different place now. The Balanced Budget Amendment in the middle of basically is gonna be&#8230; We\u2019re gonna maybe&#8230; I hope it\u2019s not true but we\u2019re likely to inherit a recession, at least a significant economic slowdown.<\/p>\n<p>HARWOOD: Right.<\/p>\n<p>RUSH: On the day that jobs are through the roof, the lowest unemployment ever in 50 years, African-American unemployment all-time low, he\u2019s talking about the recession that he\u2019s gonna inherit if he\u2019s elected, and, &#8220;Therefore, I can\u2019t penalize myself, I can\u2019t put myself in handcuffs here by having a Balanced Budget Amendment because we\u2019re likely to inherit a recession, significant recession. The experts are right.&#8221;<\/p>\n<p>Here is fake news media flashback May 28th and 29th of 2019. Let me give you the names here of the voices that you will hear. Maria Bartiromo; Lisa Abramowitz of Bloomberg; Oriel Morrison, CNBC; Mike Santoli, Fox News Channel; Neil Cavuto; Michael McKey of Bloomberg; Becky Quick, CNBC; Charlie Smith; Joe Weisenthal; Sherry Ahn; Mark Tepper &#8212; all these Bloomberg and CNBC types and some Fox people thrown in&#8230;<\/p>\n<p>MARIA BARTIROMO: (music) Recession fears are creeping in.<\/p>\n<p>LISA ABRAMOWICZ: (outdoor noise) A possible indicator for recession, going forward.<\/p>\n<p>ORIEL MORRISON: Is there a real risk that by the end of 2019 we\u2019re either in or moving towards a global recession?<\/p>\n<p>MIKE SANTOLI: The markets are wondering, &#8220;Are we going to run into a recession.&#8221;<\/p>\n<p>NEIL CAVUTO: A lot of firms &#8212; Morgan Stanley among them &#8212; saying we could be on a recession watch.<\/p>\n<p>MICHAEL MCKEE: &#8230; the idea of a global recession ahead.<\/p>\n<p>BECKY QUICK: &#8230; a recession potentially.<\/p>\n<p>CHARLIE SMITH: The odds of recession have ticked up.<\/p>\n<p>JOE WEISENTHAL: This could be some sort of recession signal.<\/p>\n<p>SHERY AHN: We worry about a potential recession coming up.<\/p>\n<p>MARK TEPPER: If that happens, we\u2019re in a (snickers) full-blown trade war with China, we\u2019re headed for a recession, and the rest of your portfolio\u2019s in big trouble.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-269823\" src=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2018\/04\/FB-002-011618-Trump-Boom.jpg\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2018\/04\/FB-002-011618-Trump-Boom.jpg 640w, https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2018\/04\/FB-002-011618-Trump-Boom-300x169.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>RUSH: May 28th, 29th of this year. June, July, August, September. Five months ago, folks. Six, six months ago. &#8220;We are headed for a recession right now end of the year! We\u2019re gonna be in a recession right now! Your portfolio is dust! We\u2019re gonna be in a trade war with the ChiComs, and it\u2019s over for us.&#8221; Well, these numbers are so good, the ChiComs are not gonna be able to hold out. This economy is so good, Trump doesn\u2019t have to be in a hurry.<\/p>\n<p>But this is just an example of how the media &#8212; including some Fox people &#8212; get on this bandwagon. Some Never Trumpers get on this bandwagon. &#8220;We\u2019ve gotta kill Trump. Let\u2019s make up some news! Let\u2019s say that we\u2019re gonna have a recession. Let\u2019s try to scare people. Let\u2019s see if we can make it happen. Let\u2019s see if we can become a self-fulfilling prophecy.&#8221;<\/p>\n<p>But &#8230; it didn\u2019t happen.<\/p>\n<p>Yesterday in New Hampton, Iowa, at a campaign event, former Vice President Biden said this.<\/p>\n<p>BREAK TRANSCRIPT<\/p>\n<p>RUSH: Livermore, California, home of the nuclear bomb &#8212; well, one of them. Dave, great to have you on the EIB Network. Hello.<\/p>\n<p>CALLER: Rush, it\u2019s a pleasure to talk to you, my friend.<\/p>\n<p>RUSH: Thank you, sir. Great to have you with us.<\/p>\n<p>CALLER: I hope you have a wonderful holiday season.<\/p>\n<p>RUSH: Thank you.<\/p>\n<p>CALLER: My question is, I feel like Biden and Obama &#8212; while making tons of money overseas in Ukraine and natural gas &#8212; are in the United States, through regulation, killing American jobs, killing American productivity and really taking our strength and moving it to bad actors by regulation. To me, that feels treasonous and&#8230; I don\u2019t know. Anyway, that\u2019s my point there.<\/p>\n<p>RUSH: Well, no. It\u2019s not a good point. What Dave is talking about here&#8230; Let\u2019s not leave the Clintons out of this. You know, the Clintons were playing around with uranium, and involving Ukraine. You know, Biden\u2019s kid is in the natural gas industry making all that money. He knows nothing about it. That\u2019s Burisma. That\u2019s Ukraine. His point is that these people are opposed to things that would strengthen the domestic energy industry.<\/p>\n<p>They\u2019re opposed to fracking. They want more regulation. They\u2019re trying to wipe out natural gas right now! The environmentalist wacko crowd is trying to put all kinds of new regulations on natural gas, which is asinine. Natural gas is one of the answers to the so-called carbon footprint! But they think that it\u2019s a fossil fuel because it comes here by oil deposits. They\u2019re manic about this stuff. But your point is well taken.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/american-energy-dominance-interior-secretary\"><img loading=\"lazy\" class=\"aligncenter size-full wp-image-330734\" src=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/12\/APP-Fox-News-TEARAWAY-120619.jpg\" alt=\"\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/12\/APP-Fox-News-TEARAWAY-120619.jpg 640w, https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/12\/APP-Fox-News-TEARAWAY-120619-300x169.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a>While they were trying to personally enrich themselves or their families in energy industries internationally, they were attempting to impose regulations limiting the ability of the domestic energy business to grow and expand. I have a story from here from Fox News that\u2019s from yesterday, and the headline of this is really intriguing: <a href=\"https:\/\/www.foxbusiness.com\/markets\/american-energy-dominance-interior-secretary\">&#8220;How Students Are Profiting from America\u2019s Energy Boom.&#8221;<\/a> How students are profiting? You may ask, how does that happen?<\/p>\n<p>&#8220;American schools are reaping the rewards of federal energy revenues, according to Interior Secretary David Bernhardt. The Department of the Interior\u2019s updated business practices and regulations have resulted in &#8216;demonstrable gains\u2019 in revenue from federal lands, revenue that returns to taxpayers and to states, Bernhardt told &#8230; Maria Bartiromo, pointing to New Mexico as an example. &#8216;New Mexico received $1.17 billion from the Department of the Interior last year. That money goes for schools, for roads, things that are important in New Mexico,\u2019 Bernhardt said.&#8221;<\/p>\n<p>Think of it as a stimulus except it came from the booming oil and energy sector that\u2019s creating more taxes that that get refed back to states for their local needs. In other words, all of this money that the Department of the Interior is disbursing to various states is the result of a burgeoning and growing energy industry and economy in the United States. Here\u2019s a pull quote: &#8220;The Department of the Interior\u2019s updated business practices and regulations have resulted in &#8216;demonstrable gains\u2019 in revenue from federal lands, revenue that returns to taxpayers and to states, but it\u2019s primarily transformed workers\u2019 opportunities to make money in rural communities.&#8221;<\/p>\n<p>And these are the same people &#8212; the beneficiaries are the people &#8212; running around whining and moaning about climate change destroying the planet by the time they\u2019re 65. Anyway, the bottom line here is the energy sector is a major, major part of the economy that\u2019s booming. The United States now is a net exporter of energy. Do you know what that means? It means that you can wave bye-bye to dependence on foreign oil.<\/p>\n<p>It means that we are producing more energy than we need. We\u2019re producing more oil. And this is all due to fracking and some of the innovations that have occurred in fracking, which also impacts the extraction of natural gas. We\u2019re producing more oil, more natural gas, and more other energy elements than we\u2019re using. Therefore, we\u2019re able to sell the access and stockpile for future needs. This has not happened before.<\/p>\n<p>Like many things economically, it\u2019s happening under Donald Trump.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RUSH: There is nothing comparable to this, folks: 3.5% unemployment, a 50-year low, African-Americans with more jobs than they&#039;ve ever had before.<\/p>\n","protected":false},"author":49,"featured_media":311523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[12,1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Boom! Where&#039;s Your Recession Now? - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2019\/12\/06\/boom-weres-your-recession-now\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Boom! 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