What was she thinking?
On “MSNBC Live” commentator Stephanie Ruhle defended recessions, calling them “a normal part of economic activity.”
While the White House is shooting down the notion of an upcoming recession, Ruhle declared it “about time we get a recession.”
“A recession is OK. A recession is a normal part of economic activity. We see them upturns and downturn. A recession doesn’t mean it’s a crisis, but if you’re a sitting president, you don’t necessarily want a recession on your watch. You want people feeling good. But seeing that we have been in economic expansion for the better part of 10 years, it’s about time we get a recession. But the fact that the Fed has already cut rates to try to extend this economic expansion, you think that would breathe more life into it.”
She continued, “[J]ust remember: One of the reasons the economy has extended in positive growth for this long is the massive corporate tax cut that the president gave us a year and a half ago. He said that would result in GDP boom in business investment, three, four, five percent growth. We’re at 2.1%. That’s the average.”
“So when the president says this is the best economy ever, it’s not. And if we did face a recession, it would be normal and it would be OK,” Ruhle concluded.