Trump Has Now Given Us The Worst Economic Plunge EVER

The US economy shrank faster than it has ever shrunk in the 2nd quarter of this year, nearly all of that due to the coronavirus outbreak. But our economy was already weak to begin with, as Ring of Fire's Farron Cousins has explained repeatedly. If we do not build an economy with the working class as its foundation and most nourished part, then the economy can never be stable and will be subject to whatever bad news the day has to offer.

Become a member today!

Support us by becoming a monthly patron on Patreon, and help keep progressive media alive!

Find our merchandise at Teespring

Spread the word! LIKE and SHARE this video or leave a comment to help direct attention to the stories that matter. And SUBSCRIBE to stay connected with Ring of Fire's video content!

Support Ring of Fire by subscribing to our YouTube channel

Be sociable! Follow us on:

Follow more of our stories at

Subscribe to our podcast

*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Yesterday, the news came out that the us economy shrank at nearly 33% for the second quarter of this year, making this the worst, second quarter in the history of the United States economy, to put that another way, Donald Trump just gave the U S economy, the worst three months span that it has ever had ever, ever. We have never had a three month span where the U S economy shrank 33%. And of course, most of this has to do with the pandemic. Uh, that is what put us on this downward spiral. That is what is causing the economy to shrink. That is why 40 plus million people have lost their jobs. And that is why everything is essentially going to hell right now. But seeing those numbers in real time, it sent the market spiraling down. Economists are now predict, predicting a very slow recovery period, which means we're kind of stuck like this for quite some time.

Now, um, slow recovery. They don't really give you a timetable on what that means. You know, slow for them could be six months could be two years, but here's the problem folks. And this is one that we have been shouting from the rooftops for two straight years, you know, back in the early days of this administration, the first year or two, when we kept getting all those wonderful economic numbers, got all those wonderful economic numbers for the last, you know, seven years of the Obama administration as well. And we were talking about this then too, you have to look at what those numbers really are, because if you had been paying attention, if you had actually been reading the jobs reports, you would have known that this economy was never strong. It was never strong. We never actually had a real recovery, not even just since the crash of the Bush years. We haven't had a strong economy truly since the 1970s folks. And I know that sounds weird to say, because you say, well, we've had plenty of ties of, of phenomenal growth, uh, millions of jobs created. So how can you sit there and tell me the economy hasn't been strong? Because it depends on what you described as a strong economy. Do you think a strong middle class with people able to go out there and afford rent and food and

Pharmaceuticals? Uh, Shouldn't that be the indicator? I don't care how many more billions of billionaire makes during a pandemic. That's not an indicator of a strong economy. I don't give a damn what the stock market does. I don't care if it just had its best day on record. That's not an indicator of the economy at all. We have to stop treating it as such, but that is what we have been told for decades now that Oh, if the stock market does well, the economy's doing great. Really? When we have more empty houses in this country, then we have people living on the streets. I don't think that's us. I don't think that's a strong economy. I think we could solve that problem real quick. If we just put our heads together, what could we do with these empty houses and a person on the street? Huh?