Some have suggested that the dismal economic figures for the first half of the year are a precursor to an economic recession in 2019, something that will likely be exacerbated by the new regulations rolling out in the UK.
The Trump administration claimed the major statistic for the first half of the year was down to harsh winter weather, and blamed other countries and multinational companies for their dismal economic showing.
Yet some analysts are not so convinced and instead believe that President Trump’s trade war with China is to blame.
This assertion is backed up by Bill Maynard, who writes the blog Brick Climber, who recently warned an audience at the Merchant Placements Trust lecture series in London.
He began with stating that “the UK is going to slip into recession” – comments which prompted questions, among them, “Does it matter?”
“Yes, it really does matter,” Maynard responded. “Sure, you talk about the UK economy. But when you’re in the press conference for minutes to examine your analysis – or just when you’re out walking your dog – let’s be honest, we’re not there yet, although the recession signs are there. But yes, they are.”
Maynard then recommended that people do their homework, and said, “Always look at the data before you act. People too easily assume that this or that press release means the world.”
Maynard recommended that people “do your homework. … People, don’t just sit there and take it at face value.”
“We all know economics are always recessions,” Maynard went on to say. “It is only a slow motion one. Even in Italy, they’re going backwards.”
He even recommended that people “do your homework” by considering the latter part of the chart from “the movie Money Monster.”
“If all the things in a chart from ‘The Dark Knight’ happen one day, then there’s a chance of a recession,” Maynard continued. “All those little things have to be coordinated. That’s why I think this recession is coming.”
He then posed a rhetorical question: “Do I think it’s going to happen? Yes.”
“I think the economic outlook is quite bleak,” he concluded. “The only way is up.”