President Trump And His Advisers Downplay Economic Concerns | Velshi & Ruhle | MSNBC

President Trump And His Advisers Downplay Economic Concerns | Velshi & Ruhle | MSNBC


STEPH.>>ALL RIGHT.>>ALL RIGHT. JEFF BENNETT, THANK YOU SO MUCH. JEFF BENNETT, THANK YOU SO MUCH. LET’S BE CLEAR ABOUT ONE POINT. LET’S BE CLEAR ABOUT ONE POINT. THERE ARE REAL REASONS TO BE THERE ARE REAL REASONS TO BE CONCERNED ABOUT A POSSIBLE CONCERNED ABOUT A POSSIBLE RECESSION. RECESSION. REMEMBER, A RECESSION IS NOT A REMEMBER, A RECESSION IS NOT A CRISIS. CRISIS. A RECESSION IS NORMAL. A RECESSION IS NORMAL. BUT A SITTING PRESIDENT DOESN’T BUT A SITTING PRESIDENT DOESN’T NECESSARILY WANT TO BE RUNNING NECESSARILY WANT TO BE RUNNING FOR RE-ELECTION DURING A FOR RE-ELECTION DURING A RECESSION. RECESSION. SO LET’S LOOK AT ONE OF THOSE SO LET’S LOOK AT ONE OF THOSE REASONS. REASONS. MORE THAN 30 CENTRAL BANKS MORE THAN 30 CENTRAL BANKS AROUND THE WORLD HAVE CUT AROUND THE WORLD HAVE CUT INTEREST RATES THIS YEAR. INTEREST RATES THIS YEAR. WHY DOES THAT MATTER? WHY DOES THAT MATTER? THE LAST TIME WE SAW THAT MANY THE LAST TIME WE SAW THAT MANY RATE CUTS WORLDWIDE, WAS DURING RATE CUTS WORLDWIDE, WAS DURING THE FINANCIAL CRISIS OF 2008. THE FINANCIAL CRISIS OF 2008. WE CURRENTLY HAVE NINE COUNTRIES WE CURRENTLY HAVE NINE COUNTRIES POTENTIALLY FACING RECESSION POTENTIALLY FACING RECESSION RIGHT NOW. RIGHT NOW. IN A GLOBAL ECONOMY THAT’S AN IN A GLOBAL ECONOMY THAT’S AN ISSUE. ISSUE. OUR OWN FEDERAL RESERVE LOWERED OUR OWN FEDERAL RESERVE LOWERED ITS RATE BY .25% LAST MONTH TO ITS RATE BY .25% LAST MONTH TO TRY AND EXTEND ECONOMIC GROWTH TRY AND EXTEND ECONOMIC GROWTH HERE AT HOME DESPITE THE SLOW HERE AT HOME DESPITE THE SLOW GROWTH WORLDWIDE AND THE HARM GROWTH WORLDWIDE AND THE HARM DONE BY THE PRESIDENT’S TRADE DONE BY THE PRESIDENT’S TRADE WAR. WAR. BUT TYPICALLY THE FED CUTS RATES BUT TYPICALLY THE FED CUTS RATES AS A LAST RESORT WHEN THE AS A LAST RESORT WHEN THE ECONOMY IS IN MUCH WORSE SHAPE ECONOMY IS IN MUCH WORSE SHAPE THAN IT APPEARS TO BE RIGHT NOW. THAN IT APPEARS TO BE RIGHT NOW. AND USING RATE CUTS NOW COULD AND USING RATE CUTS NOW COULD MEAN THAT THEY’RE NOT AVAILABLE MEAN THAT THEY’RE NOT AVAILABLE WHEN WE REALLY NEED THEM. WHEN WE REALLY NEED THEM. IT COULD ALSO MEAN THAT THE IT COULD ALSO MEAN THAT THE ECONOMY WILL BE SIMPLY IMMUNE TO ECONOMY WILL BE SIMPLY IMMUNE TO THEIR IMPACT. THEIR IMPACT. AND, YET, THE WHITE HOUSE AND, YET, THE WHITE HOUSE CONTINUES TO CALL FOR THE FED TO CONTINUES TO CALL FOR THE FED TO LOWER RATES EVEN FURTHER. LOWER RATES EVEN FURTHER. BUT THAT MESSAGE COULD BE DOING BUT THAT MESSAGE COULD BE DOING MORE HARM THAN GOOD. MORE HARM THAN GOOD. U.S. CONSUMER SENTIMENT ACTUALLY U.S. CONSUMER SENTIMENT ACTUALLY FELL IN AUGUST AND ACCORDING TO FELL IN AUGUST AND ACCORDING TO THE DIRECTOR OF THE SURVEY THE THE DIRECTOR OF THE SURVEY THE CUT ACTUALLY MADE PEOPLE MORE CUT ACTUALLY MADE PEOPLE MORE WORRIED ABOUT A POSSIBLE WORRIED ABOUT A POSSIBLE RECESSION. RECESSION. PEOPLE ARE CONFUSED. PEOPLE ARE CONFUSED. I HAVE A GREAT GROUP HERE WITH I HAVE A GREAT GROUP HERE WITH ME TO HELP CLEAR SOME OF THE ME TO HELP CLEAR SOME OF THE CONFUSION UP. CONFUSION UP. PHIL RUCKER WHITE HOUSE BUREAU PHIL RUCKER WHITE HOUSE BUREAU CHIEF FOR “THE WASHINGTON POST,” CHIEF FOR “THE WASHINGTON POST,” NEIL IRWIN SENIOR ECONOMICS NEIL IRWIN SENIOR ECONOMICS CORRESPONDENT FOR THE “NEW YORK CORRESPONDENT FOR THE “NEW YORK TIMES” AND DEMOCRATIC TIMES” AND DEMOCRATIC CONGRESSWOMAN FROM MY HOME STATE CONGRESSWOMAN FROM MY HOME STATE OF NEW JERSEY. OF NEW JERSEY. CONGRESSWOMAN, I TURN TO YOU CONGRESSWOMAN, I TURN TO YOU FIRST. FIRST. THE PRESIDENT KNOWS THE ECONOMY THE PRESIDENT KNOWS THE ECONOMY IS HIS TICKET TO RE-ELECTION. IS HIS TICKET TO RE-ELECTION. IS THERE ANY REASON TO BELIEVE IS THERE ANY REASON TO BELIEVE HE IS GOING TO GIVE AMERICANS A HE IS GOING TO GIVE AMERICANS A MORE ACCURATE PICTURE OF THE MORE ACCURATE PICTURE OF THE ECONOMY AND DO SOMETHING ABOUT ECONOMY AND DO SOMETHING ABOUT IT? IT? IF YOU ARE RUNNING FOR OFFICE, IF YOU ARE RUNNING FOR OFFICE, IF YOU ARE A PRIVATE CITIZEN IF YOU ARE A PRIVATE CITIZEN WHICH HE WAS LAST TIME AROUND, WHICH HE WAS LAST TIME AROUND, YOU CAN PAINT WHATEVER PICTURE YOU CAN PAINT WHATEVER PICTURE YOU WANT TO HELP YOURSELF GET YOU WANT TO HELP YOURSELF GET RE-ELECTED BUT HE IS CURRENTLY RE-ELECTED BUT HE IS CURRENTLY GOVERNING OUR NATION INTERFACING GOVERNING OUR NATION INTERFACING WITH WORLD LEADERS EVERY DAY. WITH WORLD LEADERS EVERY DAY. IF HE’S NOT BEING HONEST ABOUT IF HE’S NOT BEING HONEST ABOUT THE STATE THAT WE’RE IN WHAT THE STATE THAT WE’RE IN WHAT DOES THAT DO TO US? DOES THAT DO TO US?>>I THINK MANY AMERICANS KNOW>>I THINK MANY AMERICANS KNOW WHAT STATE WE’RE IN. WHAT STATE WE’RE IN. IN MY HOME STATE NEW JERSEY AS IN MY HOME STATE NEW JERSEY AS YOU WELL KNOW MANY OF THE YOU WELL KNOW MANY OF THE ECONOMIC MOVES BY THIS ECONOMIC MOVES BY THIS ADMINISTRATION HAVE BEEN ADMINISTRATION HAVE BEEN INCREDIBLY HARMFUL TO US. INCREDIBLY HARMFUL TO US. NEW JERSEY WAS WORST HIT BY THE NEW JERSEY WAS WORST HIT BY THE TAX REFORM THAN ANY OTHER STATE TAX REFORM THAN ANY OTHER STATE IN THE NATION. IN THE NATION. THE STATE AND LOCAL TAX THE STATE AND LOCAL TAX DEDUCTION CAP HAS BEEN HURTING DEDUCTION CAP HAS BEEN HURTING TEACHERS AND COPS THROUGHOUT MY TEACHERS AND COPS THROUGHOUT MY DISTRICT. DISTRICT. WE SEE THE FAILURE TO INVEST IN WE SEE THE FAILURE TO INVEST IN OUR INFRASTRUCTURE FURTHER OUR INFRASTRUCTURE FURTHER HARMING OUR DISTRICT AND OUR HARMING OUR DISTRICT AND OUR STATE, A STATE THAT BY THE WAY STATE, A STATE THAT BY THE WAY IS PART OF THE 20% OF THE IS PART OF THE 20% OF THE AMERICAN ECONOMY. AMERICAN ECONOMY. SO, YOU KNOW, THESE HITS, THESE SO, YOU KNOW, THESE HITS, THESE WERE SELF-INFLICTED WOUNDS. WERE SELF-INFLICTED WOUNDS. AND THE PRESIDENT FURTHERMORE AND THE PRESIDENT FURTHERMORE CONTINUES TO DO THAT IN THE CONTINUES TO DO THAT IN THE GLOBAL ECONOMY. GLOBAL ECONOMY. I DON’T THINK PEOPLE QUITE I DON’T THINK PEOPLE QUITE UNDERSTAND WHAT THE PLAN IS FOR UNDERSTAND WHAT THE PLAN IS FOR THESE CHINESE TARIFFS. THESE CHINESE TARIFFS. THIS TARIFF WAR HAS BEEN REALLY THIS TARIFF WAR HAS BEEN REALLY HARD FOR CORPORATIONS IN MY HARD FOR CORPORATIONS IN MY DISTRICT WHO ARE TRYING HARD TO DISTRICT WHO ARE TRYING HARD TO PLAN FOR THE NEXT FIVE YEARS, PLAN FOR THE NEXT FIVE YEARS, THE NEXT TEN YEARS, THE NEXT 15 THE NEXT TEN YEARS, THE NEXT 15 YEARS, AND ARE FINDING YEARS, AND ARE FINDING THEMSELVES UNABLE TO DO SO AND THEMSELVES UNABLE TO DO SO AND THE PRESIDENT SAYS, WELL, HE’S THE PRESIDENT SAYS, WELL, HE’S NOT GOING TO DO THE TARIFF WAR NOT GOING TO DO THE TARIFF WAR UNTIL AFTER CHRISTMAS BECAUSE HE UNTIL AFTER CHRISTMAS BECAUSE HE KNOWS IT’S ANOTHER TAX ON KNOWS IT’S ANOTHER TAX ON CONSUMERS. CONSUMERS. AND SO WE SEE HIM HOLDING OFF AND SO WE SEE HIM HOLDING OFF UNTIL AFTER CHRISTMAS FOR SOME UNTIL AFTER CHRISTMAS FOR SOME OF THIS TRADE WAR WHICH MAKES IT OF THIS TRADE WAR WHICH MAKES IT SEEM LIKE IT’S JUST SOME SEEM LIKE IT’S JUST SOME PARTISAN MANEUVERING AND NOT PARTISAN MANEUVERING AND NOT REALLY HELPFUL TO OUR ECONOMY. REALLY HELPFUL TO OUR ECONOMY.>>PHIL, I WANT TO PLAY PART OF>>PHIL, I WANT TO PLAY PART OF YOUR EXCHANGE WITH THE PRESIDENT YOUR EXCHANGE WITH THE PRESIDENT YESTERDAY WHILE HE WAS IN NEW YESTERDAY WHILE HE WAS IN NEW JERSEY TALKING ABOUT HOW THE JERSEY TALKING ABOUT HOW THE AMERICAN PEOPLE ARE SO HAPPY AND AMERICAN PEOPLE ARE SO HAPPY AND SPENDING WHEN WE KNOW FROM THE SPENDING WHEN WE KNOW FROM THE CONGRESSWOMAN PEOPLE IN NEW CONGRESSWOMAN PEOPLE IN NEW JERSEY DID NOT BENEFIT. JERSEY DID NOT BENEFIT. TAKE A LOOK. TAKE A LOOK.>>A LOT OF ECONOMISTS SAY YOU>>A LOT OF ECONOMISTS SAY YOU SHOULD BE PREPARING FOR A SHOULD BE PREPARING FOR A RECESSION, THAT NO PRESIDENT IS RECESSION, THAT NO PRESIDENT IS IMMUNE TO RECESSION AND IT IS IMMUNE TO RECESSION AND IT IS NOW — NOW –>>PHIL, HONESTLY I’M PREPARED>>PHIL, HONESTLY I’M PREPARED FOR EVERYTHING. FOR EVERYTHING. I DON’T THINK WE’RE HAVING A I DON’T THINK WE’RE HAVING A RECESSION. RECESSION. WE ARE DOING TREMENDOUSLY WELL. WE ARE DOING TREMENDOUSLY WELL. OUR CONSUMERS ARE RICH. OUR CONSUMERS ARE RICH. I GAVE A TREMENDOUS TAX CUT AND I GAVE A TREMENDOUS TAX CUT AND THEY’RE LOADED UP WITH MONEY. THEY’RE LOADED UP WITH MONEY. THEY’RE BUYING. THEY’RE BUYING. I SAW THE WALMART NUMBERS. I SAW THE WALMART NUMBERS. THEY WERE THROUGH THE ROOF JUST THEY WERE THROUGH THE ROOF JUST TWO DAYS AGO. TWO DAYS AGO. THAT’S BETTER THAN ANY POLL, THAT’S BETTER THAN ANY POLL, BETTER THAN ANY ECONOMIST. BETTER THAN ANY ECONOMIST. AND MOST ECONOMISTS ACTUALLY AND MOST ECONOMISTS ACTUALLY SAY, PHIL, THAT WE’RE NOT GOING SAY, PHIL, THAT WE’RE NOT GOING TO HAVE A RECESSION. TO HAVE A RECESSION. MOST OF THEM ARE SAYING WE’RE MOST OF THEM ARE SAYING WE’RE NOT GOING TO HAVE A RECESSION. NOT GOING TO HAVE A RECESSION.>>SO THE PRESIDENT SAID WALMART>>SO THE PRESIDENT SAID WALMART NUMBERS WERE THROUGH THE ROOF. NUMBERS WERE THROUGH THE ROOF. HE DIDN’T SAY THE DAY BEFORE HE DIDN’T SAY THE DAY BEFORE THAT MACY’S NUMBERS WERE IN THE THAT MACY’S NUMBERS WERE IN THE TOILET. TOILET. WHEN HE SAYS CONSUMERS ARE FLUSH WHEN HE SAYS CONSUMERS ARE FLUSH WITH CASH AND SPENDING, IT WITH CASH AND SPENDING, IT WASN’T A TAX CUT FOR THE AVERAGE WASN’T A TAX CUT FOR THE AVERAGE AMERICAN. AMERICAN. TWA IS A TWA IS A IT WAS A CORPORATE TAX CUT. IT WAS A CORPORATE TAX CUT. WHAT IS YOUR TAKEAWAY FROM WHAT WHAT IS YOUR TAKEAWAY FROM WHAT HE SAID? HE SAID?>>WHAT JUST SAID IS EXACTLY>>WHAT JUST SAID IS EXACTLY RIGHT. RIGHT. WHAT TRUMP IS TRYING TO DO IS WHAT TRUMP IS TRYING TO DO IS PROJECT CONFIDENCE TO THE PROJECT CONFIDENCE TO THE AMERICAN PEOPLE THAT THERE’S NOT AMERICAN PEOPLE THAT THERE’S NOT GOING TO BE A RECESSION AND THAT GOING TO BE A RECESSION AND THAT HE A ESGOT EVERYTHING UNDER HE A ESGOT EVERYTHING UNDER CONTROL. CONTROL. BUT THAT FLIES IN THE FACE OF BUT THAT FLIES IN THE FACE OF THE DATA WE’RE SEEING AND THE THE DATA WE’RE SEEING AND THE INDICATORS AND THE BIG YELLOW INDICATORS AND THE BIG YELLOW FLAGS ESPECIALLY LAST WEEK. FLAGS ESPECIALLY LAST WEEK. YOU KNOW, NO PRESIDENT IS IMMUNE YOU KNOW, NO PRESIDENT IS IMMUNE FROM A RECESSION. FROM A RECESSION. PRESIDENT TRUMP IS NOT IMMUNE PRESIDENT TRUMP IS NOT IMMUNE FROM A RECESSION. FROM A RECESSION. YOU KNOW, TALKING TO ECONOMISTS YOU KNOW, TALKING TO ECONOMISTS I INTERVIEWED LARRY SUMMERS LAST I INTERVIEWED LARRY SUMMERS LAST WEEK THE FORMER TREASURY WEEK THE FORMER TREASURY SECRETARY AND ECONOMIC ADVISER SECRETARY AND ECONOMIC ADVISER WHO HELPED GUIDE THE OBAMA WHO HELPED GUIDE THE OBAMA ADMINISTRATION OUT OF THE GREAT ADMINISTRATION OUT OF THE GREAT RECESSION AND HE SAID AIT WAS RECESSION AND HE SAID AIT WAS EFFECTIVELY MALPRACTICE FOR THIS EFFECTIVELY MALPRACTICE FOR THIS GOVERNMENT NOT TO BE GETTING GOVERNMENT NOT TO BE GETTING READY FOR A RECESSION IF ONE READY FOR A RECESSION IF ONE WERE TO COME. WERE TO COME.>>YOU WROTE AN EXCELLENT PIECE>>YOU WROTE AN EXCELLENT PIECE ABOUT HOW A RECESSION COULD ABOUT HOW A RECESSION COULD HAPPEN AND, AGAIN, IT WOULD BE HAPPEN AND, AGAIN, IT WOULD BE NORMAL. NORMAL. WE HAVE BEEN IN A TEN-YEAR WE HAVE BEEN IN A TEN-YEAR ECONOMIC EXPANSION, SO A ECONOMIC EXPANSION, SO A RECESSION IS PAR FOR THE COURSE. RECESSION IS PAR FOR THE COURSE. AND THE PRESIDENT HAS ALREADY AND THE PRESIDENT HAS ALREADY GIVEN A MASSIVE CORPORATE TAX GIVEN A MASSIVE CORPORATE TAX CUT AND, STILL, WITH GDP ONLY CUT AND, STILL, WITH GDP ONLY 2.1% THAT IS FAR BELOW HIS 3% 2.1% THAT IS FAR BELOW HIS 3% PROJECTION THOUGH HE PROJECTED PROJECTION THOUGH HE PROJECTED 4%, 5%, 6%. 4%, 5%, 6%. AFTER HEARING THE PRESIDENT AND AFTER HEARING THE PRESIDENT AND HIS ADVISERS SAYING, I DON’T SEE HIS ADVISERS SAYING, I DON’T SEE A RECESSION ANYWHERE, DO YOU A RECESSION ANYWHERE, DO YOU BELIEVE THEY’RE RECOGNIZING THE BELIEVE THEY’RE RECOGNIZING THE RISKS THAT AT LEAST YOU AND MANY RISKS THAT AT LEAST YOU AND MANY OTHERS HAVE LAID OUT? OTHERS HAVE LAID OUT?>>NO.>>NO. THEY SEEM TO BE KIND OF STICKING THEY SEEM TO BE KIND OF STICKING THEIR FINGERS IN THEIR EARS AND THEIR FINGERS IN THEIR EARS AND PRETENDING THESE SIGNS AREN’T PRETENDING THESE SIGNS AREN’T OUT THERE. OUT THERE. WE’VE SEEN THIS BEFORE. WE’VE SEEN THIS BEFORE. IT DOESN’T HAVE TO BE A IT DOESN’T HAVE TO BE A RECESSION FOR THIS TO BE A VERY RECESSION FOR THIS TO BE A VERY DANGEROUS MOMENT FOR THE DANGEROUS MOMENT FOR THE ECONOMY. ECONOMY. IN LATE 2015 EARLY 2016 THERE IN LATE 2015 EARLY 2016 THERE WAS SOMETHING VERY SIMILAR TO WAS SOMETHING VERY SIMILAR TO THIS, AN INDUSTRIAL SLOWDOWN THIS, AN INDUSTRIAL SLOWDOWN CAUSED BY OVERSEAS FORCES CAUSED BY OVERSEAS FORCES ESPECIALLY CHINA AND MAY HAVE ESPECIALLY CHINA AND MAY HAVE HELPED TRUMP GET ELECTED AND HELPED TRUMP GET ELECTED AND COST HILLARY CLINTON THE WHITE COST HILLARY CLINTON THE WHITE HOUSE. HOUSE. YOU COULD HAVE SOMETHING THAT YOU COULD HAVE SOMETHING THAT DOESN’T BECOME A TECHNICAL DOESN’T BECOME A TECHNICAL RECESSION BUT DOES A LOT OF RECESSION BUT DOES A LOT OF DAMAGE IN THE HEARTLAND OF THE DAMAGE IN THE HEARTLAND OF THE U.S. U.S.>>CAN DEMOCRATS, CONGRESSWOMAN>>CAN DEMOCRATS, CONGRESSWOMAN ACTUALLY CAPITALIZE ON THIS? ACTUALLY CAPITALIZE ON THIS? I WANT TO SHARE WHAT THE I WANT TO SHARE WHAT THE PRESIDENT SAID AT A RALLY LAST PRESIDENT SAID AT A RALLY LAST WEEK. WEEK.>>THE BOTTOM LINE IS I KNOW YOU>>THE BOTTOM LINE IS I KNOW YOU LIKE ME AND THIS ROOM IS A LOVE LIKE ME AND THIS ROOM IS A LOVE FEST. FEST. I KNOW THAT. I KNOW THAT. BUT YOU HAVE NO CHOICE BUT TO BUT YOU HAVE NO CHOICE BUT TO VOTE FOR ME BECAUSE YOUR 401(K)s VOTE FOR ME BECAUSE YOUR 401(K)s DOWN THE TUBES, EVERYTHING DOWN DOWN THE TUBES, EVERYTHING DOWN THE TUBES, SO WHETHER YOU LOVE THE TUBES, SO WHETHER YOU LOVE ME OR HATE ME YOU GOT TO VOTE ME OR HATE ME YOU GOT TO VOTE FOR ME. FOR ME.>>THIS THE ARGUMENT HE KEEPS>>THIS THE ARGUMENT HE KEEPS MAKING. MAKING. THE NEW “WALL STREET JOURNAL” THE NEW “WALL STREET JOURNAL” POLL SAYS 49% OF AMERICANS STILL POLL SAYS 49% OF AMERICANS STILL APPROVE OF HIS HANDLING OF THE APPROVE OF HIS HANDLING OF THE ECONOMY. ECONOMY. YOU JUST WALKED US THROUGH HOW YOU JUST WALKED US THROUGH HOW THERE’S BEEN MISHANDLING OF THE THERE’S BEEN MISHANDLING OF THE ECONOMY. ECONOMY. WHY AREN’T DEMOCRATS SEIZING ON WHY AREN’T DEMOCRATS SEIZING ON THIS WHEN JOE BIDEN TALKS ABOUT THIS WHEN JOE BIDEN TALKS ABOUT THE NEED FOR MORAL LEADERSHIP THE NEED FOR MORAL LEADERSHIP THE PRESIDENT RESPONDS BY SAYING THE PRESIDENT RESPONDS BY SAYING YOU WANT MORALITY OR YOU WANT YOU WANT MORALITY OR YOU WANT YOUR MONEY? YOUR MONEY? AND THERE ARE PEOPLE WHO MIGHT AND THERE ARE PEOPLE WHO MIGHT NOT SAY IT AT DINNER PARTIES BUT NOT SAY IT AT DINNER PARTIES BUT WHEN THEY GO HOME THEY START TO WHEN THEY GO HOME THEY START TO SAY, I NEED TO PROTECT MY SAY, I NEED TO PROTECT MY 401(K). 401(K). AND THEY BELIEVE IT. AND THEY BELIEVE IT.>>I THINK IF YOU WANT MORALITY>>I THINK IF YOU WANT MORALITY AND GOOD FISCAL LEADERSHIP YOU AND GOOD FISCAL LEADERSHIP YOU WANT A DEMOCRAT IN THE WHITE WANT A DEMOCRAT IN THE WHITE HOUSE BECAUSE WHAT WE’RE SEEING HOUSE BECAUSE WHAT WE’RE SEEING IN NEW JERSEY AND IT IS IN NEW JERSEY AND IT IS INTERESTING YOU JUST PLAYED THAT INTERESTING YOU JUST PLAYED THAT CLIP FROM MORRISTOWN. CLIP FROM MORRISTOWN. THAT IS IN MY DISTRICT. THAT IS IN MY DISTRICT. I WISH THE PRESIDENT HAD LEFT I WISH THE PRESIDENT HAD LEFT THE AIR STRIP AND GONE TO TALK THE AIR STRIP AND GONE TO TALK TO PEOPLE IN MY DISTRICT BECAUSE TO PEOPLE IN MY DISTRICT BECAUSE HE WOULD REALIZE THE ECONOMIC HE WOULD REALIZE THE ECONOMIC HARM HE IS DOING ACROSS THE HARM HE IS DOING ACROSS THE COUNTRY TO PEOPLE WHEN THEY, YOU COUNTRY TO PEOPLE WHEN THEY, YOU KNOW, THEY DO HAVE JOBS. KNOW, THEY DO HAVE JOBS. WE DO HAVE EMPLOYMENT. WE DO HAVE EMPLOYMENT. BUT PEOPLE AREN’T RECEIVING THE BUT PEOPLE AREN’T RECEIVING THE PAYCHECKS THEY WERE SEVERAL PAYCHECKS THEY WERE SEVERAL YEARS AGO. YEARS AGO.>>THEN WHY DOES HE HAVE SUCH A>>THEN WHY DOES HE HAVE SUCH A HIGH APPROVAL RATING WHEN IT HIGH APPROVAL RATING WHEN IT COMES TO HOW HE IS HANDLING THE COMES TO HOW HE IS HANDLING THE ECONOMY? ECONOMY?>>I THINK WE ARE STARTING TO>>I THINK WE ARE STARTING TO SEE THE CRACKS IN THAT. SEE THE CRACKS IN THAT. THIS IS WHERE THE RUBBER IS THIS IS WHERE THE RUBBER IS MEETING THE ROAD. MEETING THE ROAD. IT’S TAKEN A WHILE. IT’S TAKEN A WHILE. IT TAKES A WHILE AS I THINK A IT TAKES A WHILE AS I THINK A COMMENTATOR SAID EARLIER THIS COMMENTATOR SAID EARLIER THIS MORNING, YOU KNOW, WHEN YOU’RE MORNING, YOU KNOW, WHEN YOU’RE MOVING A SHIP, IT TAKES A LITTLE MOVING A SHIP, IT TAKES A LITTLE BIT OF TIME FOR THE RESULTS TO BIT OF TIME FOR THE RESULTS TO BE FELT. BE FELT. WE’RE STARTING TO FEEL THE WE’RE STARTING TO FEEL THE RESULTS OF HIS POLICIES NOW. RESULTS OF HIS POLICIES NOW.>>PHIL, LET’S GO WITH A LITTLE>>PHIL, LET’S GO WITH A LITTLE PALACE INTRIGUE. PALACE INTRIGUE. YOU AND I BOTH KNOW FROM OUR OWN YOU AND I BOTH KNOW FROM OUR OWN REPORTING THAT THE PRESIDENT’S REPORTING THAT THE PRESIDENT’S ADVISERS LOOK TO GO TO GREAT ADVISERS LOOK TO GO TO GREAT LENGTHS TO FIND ARTICLES AND LENGTHS TO FIND ARTICLES AND DATA TO PLEASE THE PRESIDENT, TO DATA TO PLEASE THE PRESIDENT, TO SUPPORT HIS POINT OF VIEW. SUPPORT HIS POINT OF VIEW. HOW DANGEROUS IS IT RIGHT NOW HOW DANGEROUS IS IT RIGHT NOW THAT THAT IS CONTINUING TO BE THAT THAT IS CONTINUING TO BE THE CASE? THE CASE? AND WHEN THE PRESIDENT LOOKS AT AND WHEN THE PRESIDENT LOOKS AT DATA THAT HE DOESN’T LIKE, HE IS DATA THAT HE DOESN’T LIKE, HE IS NOW CLAIMING IT’S BEING NOW CLAIMING IT’S BEING MANIPULATED. MANIPULATED.>>YEAH, WELL THAT IS SPOT ON,>>YEAH, WELL THAT IS SPOT ON, STEPH. STEPH. MY REPORTING LAST WEEK SHOWS MY REPORTING LAST WEEK SHOWS THAT LARRY KUDLOW, THE ECONOMIC THAT LARRY KUDLOW, THE ECONOMIC ADVISER IN THE WHITE HOUSE, HAS ADVISER IN THE WHITE HOUSE, HAS BEEN PRESENTING A FAIRLY SUNNY BEEN PRESENTING A FAIRLY SUNNY OUTLOOK ABOUT THE ECONOMY TO THE OUTLOOK ABOUT THE ECONOMY TO THE PRESIDENT, SHOWING HIM GOOD PRESIDENT, SHOWING HIM GOOD DATA, TRYING TO EXPLAIN TO HIM DATA, TRYING TO EXPLAIN TO HIM WHY HE DOESN’T THINK A RECESSION WHY HE DOESN’T THINK A RECESSION IS IN THE OFFING. IS IN THE OFFING. AND IT CONFLICTS WITH OF COURSE AND IT CONFLICTS WITH OF COURSE WHAT THE PRESIDENT IS CONSUMING WHAT THE PRESIDENT IS CONSUMING ON TELEVISION AND WHAT HE’S ON TELEVISION AND WHAT HE’S READING IN NEWSPAPERS. READING IN NEWSPAPERS. AND THE PRESIDENT HAS BEEN AND THE PRESIDENT HAS BEEN TELLING FRIENDS THAT HE THINKS TELLING FRIENDS THAT HE THINKS THERE’S A CONSPIRACY AT PLAY THERE’S A CONSPIRACY AT PLAY HERE. HERE. THAT HE THINKS THE NEWS MEDIA IS THAT HE THINKS THE NEWS MEDIA IS PUMPING UP THE IDEA OF A PUMPING UP THE IDEA OF A RECESSION USING FAULTY DATA AND, RECESSION USING FAULTY DATA AND, IMPORTANTLY, HE DOESN’T BELIEVE IMPORTANTLY, HE DOESN’T BELIEVE ALL OF THE ECONOMIC STATISTICS ALL OF THE ECONOMIC STATISTICS HE SEES BECAUSE HE THINKS HE SEES BECAUSE HE THINKS ECONOMISTS ARE ELITES AND OUT TO ECONOMISTS ARE ELITES AND OUT TO GET HIM AND ARE USING AN GET HIM AND ARE USING AN ANTI-TRUMP BIAS WITH THEIR ANTI-TRUMP BIAS WITH THEIR NUMBERS TO TRY TO DERAIL HIS NUMBERS TO TRY TO DERAIL HIS RE-ELECTION HOPES. RE-ELECTION HOPES.>>PAUL SINGER, MASSIVE>>PAUL SINGER, MASSIVE REPUBLICAN WHO RUNS ELLIOTT REPUBLICAN WHO RUNS ELLIOTT MANAGEMENT JUST LAST WEEK MANAGEMENT JUST LAST WEEK WARNING OF A HUGE ECONOMIC WARNING OF A HUGE ECONOMIC SLOWDOWN. SLOWDOWN. I WANT TO TALK ABOUT THE TEAM I WANT TO TALK ABOUT THE TEAM SURROUNDING THE PRESIDENT. SURROUNDING THE PRESIDENT. PETER NAVARRO, LARRY KUDLOW, PETER NAVARRO, LARRY KUDLOW, STEVE MNUCHIN. STEVE MNUCHIN. “THE WASHINGTON POST” RAN “THE WASHINGTON POST” RAN MULTIPLE OP EDS THIS WEEKEND MULTIPLE OP EDS THIS WEEKEND CALLING THEM MEN WITHOUT A PLAN. CALLING THEM MEN WITHOUT A PLAN. GIVE US A BIT OF HISTORICAL GIVE US A BIT OF HISTORICAL PERSPECTIVE. PERSPECTIVE. I HAD A GUEST LAST WEEK WHO SAID I HAD A GUEST LAST WEEK WHO SAID PRESIDENTS OBAMA AND BUSH IN PRESIDENTS OBAMA AND BUSH IN TIMES OF CRISIS WERE SURROUNDED TIMES OF CRISIS WERE SURROUNDED BY NBA ALL STAR TEAMS AND BY NBA ALL STAR TEAMS AND PRESIDENT TRUMP HAS THE HARLEM PRESIDENT TRUMP HAS THE HARLEM GLOBETROTTERS. GLOBETROTTERS.>>YOU HAVE AN UNUSUAL MOMENT>>YOU HAVE AN UNUSUAL MOMENT WHERE IT IS NOT JUST THAT THOSE WHERE IT IS NOT JUST THAT THOSE THREE LEADERS ARE NOT AS TESTED THREE LEADERS ARE NOT AS TESTED AND EXPERIENCED WITH KIND OF THE AND EXPERIENCED WITH KIND OF THE MECHANISMS OF GOVERNMENT AND HOW MECHANISMS OF GOVERNMENT AND HOW YOU USE THOSE TO TRY AND DEAL YOU USE THOSE TO TRY AND DEAL WITH ECONOMIC CHALLENGES BUT WITH ECONOMIC CHALLENGES BUT ALSO THE LEVEL UNDER THEM IS ALSO THE LEVEL UNDER THEM IS UNDER STAFFED. UNDER STAFFED. IF YOU GO TO TREASURY, GO TO THE IF YOU GO TO TREASURY, GO TO THE WHITE HOUSE, A LOT OF THE MID WHITE HOUSE, A LOT OF THE MID LEVEL JOBS ARE NOT AS STAFFED AS LEVEL JOBS ARE NOT AS STAFFED AS IN THE PAST. IN THE PAST. WHATEVER YOU THINK OF THE BUSH WHATEVER YOU THINK OF THE BUSH ADMINISTRATION WHEN THE CRISIS ADMINISTRATION WHEN THE CRISIS HAPPENED IN 2007, 2008, THEY HAPPENED IN 2007, 2008, THEY KIND OF CAST IDEOLOGY ASIDE, DID KIND OF CAST IDEOLOGY ASIDE, DID SOME BAIL OUTS THAT THEY DIDN’T SOME BAIL OUTS THAT THEY DIDN’T LIKE DOING. LIKE DOING. THEY DID SOME FISCAL STIMULUS THEY DID SOME FISCAL STIMULUS THEY DIDN’T LIKE DOING BUT THEY THEY DIDN’T LIKE DOING BUT THEY SAW DAMAGE AND RISK TO THE SAW DAMAGE AND RISK TO THE ECONOMY AND PULLED THE TRIGGERS ECONOMY AND PULLED THE TRIGGERS AND DID THOSE THINGS. AND DID THOSE THINGS. THE QUESTION IS, IF THINGS TAKE

100 thoughts on “President Trump And His Advisers Downplay Economic Concerns | Velshi & Ruhle | MSNBC”

  1. He and his advisors know exactly what tariff is but it is he takes back the tax cut for US middle and lower classes to balancing the budget. He gives himself and buddy 14% tax cut wow!!!!!! Tariff have no affected to his buddy's.

  2. Democrat State legislatures have miss handled their local economy/finance and shoot themselves in the foot and now want to blame President Trump

  3. How is it possible than 49% approve his incompetent handling of the economy? Half Americans are that ignorant and stupid?

  4. Trump does not care about the long term. He'll be out when it turns to crap, but he'll sit back smug knowing that he became president. He's climbed to the top by promising the world to the ignorant base and is about to cash in further by dragging them away from Fox to a new media company that is even more right-wing (watch them increasing brand Fox News as Fake news). Obnoxious as he is, he seems to play America pretty well and will get away with it.

  5. did you realise that the dialogue from Dem agenda has been shifted to Guns? That is exactly what the republicans want.
    Please, come back to what you want to do not what you oppose.

  6. They're going to stick with denying everything bad. Narcissists can't and won't accept their own failures and faults and they're exceedingly capable at charming the gullible and ignorant into believing their brand of BS.

  7. WAKE UP! The Possible Recession IS HERE NOW. Get out of markets, get your money out of banks before they lock the doors.

  8. We are living in Idiocracy the sequel. Or Jerry Seinfeld Bizarro world one of the two. They're still looking you in the eye and telling you that American consumers are not paying for the tariffs but they took the tariffs off so that they didn't hurt the American consumers for Christmas

  9. Republican senator Scott Walker killed the unions. Then Republican in every state started killing off the Unions and brought the right to work laws that hurts the working-class taxpayer. Now 2019 Donald Trump holds a rally at a gas fracking plant in Pennsylvania and tells them if they don't show up they lose their overtime pay that they would have got for working that day instead of attending his rally for union workers the same Republicans that killed the unions Now using the unions as a campaign stunt only

  10. The reason why is because when he says we're in a strong economy, no media outlets challenge it, even CNN and MSNBC. He's talked about this amazing growth, yet GDP hasn't gone over 2.9% for any given year and 1 quarter of over 4% which was mostly because of buying ahead of the curve before tarrifs first hit. Wages haven't grown to the trickle down levels we were promised but record corporate buybacks and executive compensation increases have. Market looks as good as it does because of the record corporate buybacks. But he keeps repeating growth growth and no one ever asks what growth he's referring to. Now you want to ask why 50% of the world think's he is doing a good job with the economy? Because 40% of the country believes anything he says and by repeatedly saying growth, unemployment, jobs and tax cuts over and over, with no one challenging, he just needs 10% of the remaining 60% to actually believe it.

  11. Hey azzClowns, the more you demonize Trump the more we will support him. Oh and guess what, he's your President too. And we will re-elect him and he will be you President again. And there is nothing you can do about it, NOTHING.
    And when we elected him we handed you low IQ POS a big fat hot steamy conservative shitsandwich and all you fuckheads have to take a big bite. Ha, Ha!!!

  12. Russian Collusion hoax did'nt work
    Stormy Daniels hoax did'nt
    work
    White Supremacy hoax isn't working
    Let's just say there's a recession hoax
    MSNBC is the Enemy

    You can't Stump the Trump!

    🇺🇸TRUMP 2020🇺🇸

  13. i hate drumpf, but he told me that i have to vote for him… make it so, number one.
    yeah, right. bernie 2020! time for the plutocrats to pay their fair share… and then some.

  14. Consumer spending is still pretty high. A recession may be a year or two away. It may be tomorrow too. Predicting the time of a recession is like predicting the second coming.

  15. Biden had difficulty pronouncing the word “e-con-o-mee” and fell asleep to dreams of chasing lost children through a park.

  16. LET THE 💩💩💩 HIT THE FAN!!!!! So all of those gullible, stupid idiots who support him get dragged into the MUD and when that happens he will turn his back and will say: " IT WASN'T ME" LET IT BLOW UP RIGHT INTO THEIR FACES!!!!!!

  17. Wow, just look at the Tarmac behind the president. This is a telling statement on America's overall crumbling infrastructure. Americans really need to get out of their self-imposed bubbles and travel outside the US so that they can understand the deplorable state of our infrastructure. Its embarrassing that the richest nation on earth has this kind of crumbling infrastructure.

  18. Trumps only concern is ratings. He loves debt and relies on bankruptcy. He said guess what, the economy crashes and I'm going to give back half the debt.

  19. Trump is "Bot a Christian" no morality , No Values and he does" Not go to church! His god is Money!!! Judgement will be severe, God is watching Trump just chose Money over God's Moral laws!!!

  20. Oh men. The fake news talking us into a recession. Stop crying. So tell us fake news how would you tackle the enormous trade gap with China; how would you deal witb the ripping off the US by China, Europe and others. This ripping off was allowed for decades. You have to invest to correct this on the long run. Increase the pressure on China once more. They will crack. They will be hurt more thats why US wins on the long run. Time for a fair deal. Long overdue.

  21. I don't understand why anyone thinks that a recession would affect his election chances with his supporters. He denied Obama's positive economic figures said those numbers were made up. When he was elected, then all of the sudden those numbers were real, showed an "amazing improvement," and his supported believed him. Then he lied by riding the wave of Obama's recovery and he was believed by his supporters. He didn't attempt to address the shortcomings in the recovery but just threw a wrench every chance he got. Now that there are signs of a recession (only signs) and what is he doing instead of addressing them? He lies that there's nothing going on and these signs are there to make him look bad. If there's a recession, he'll scapegoat the media/deep state/Obama/Clintons/Comey/Mueller/13 angry democrats or whomever as he's already laying the groundwork in previous statements–and his supporters will believe him. If he loses the election, he'll blame the recession on his loss. If he wins, he'll continue wrecking chaos and his base will follow dutifully as the economy continues to fall apart. Stop making it seem like his supporters are going to magically see the light one day and not support him. He will not lose the support of his base and the only way that he'll go away is when he is voted out by people who believe in facts, reason, and want this country to take a different route.

  22. RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS

  23. NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS NAZIS

  24. RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS

  25. RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS

  26. RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS RACISTS

  27. BS-NBC put out FAKE NEWS and FAKE DATA to scare people. Best time to BUY when others are Fearful 😧 Warren Buffet 💰💰💰

  28. Theres not one person in that administration that doesn't lie and covering up for this despicable lying 45. Hes destroying this country and 4 yrs more of this narcissist ,there won't be any America left..

  29. Seems like its a prerequisite for American tv appearances to squeeeeeeze themselves into tight firmly stretchy dresses

  30. YOUR LYING AS ALWAYS OUR GREAT ECONOMY IS BOOMING LIKE NEVER BEFORE,YOUR NEW 4AM TALKING POINTS BECAUSE U HAVE NOTHING LEFT BECAUSE EVERYTHING U TRIED AGAINST OUR PRESIDENT HAS FAILED AND SO WON'T YOUR FAKE LYING SO CALLED RECESSION LIE AND TELL TRAITOR OBAMA THAT TRUMP HAS THE MAGIC WAND.

  31. MSNBC is another democrat propaganda machine. Aiming to overturn Trump in stead of providing the American people with evidence and the good news of all what Trump is doing. In fact they down play everything Trump does. This is called projection, which is what you see at all democrat news networks, not to mention all the lies they produce and the countless lives they have ruined thus far.

  32. So here’s what’s been going on folks. First it was the sexual and explicit conversation Trump had in that coach ,grab them by the P..sy.Second was the wall and Mexico is going to pay for it. Third was about Stormy Daniels. Fourth was about Trump being cruel to Illegal immigrants and the Caravan. Fifth was about the Mueller report. And now it’s about a possible recession ! And many more other horrible things that Trump has been doing since in office.What’s next I wonder ?

  33. If you’ve ever run a business and required bank support you are aware of the need to provide a yearly financial statement. Any banker you meet will look at your balance sheet and weigh your assets against your debt. If from year to year your bottom line show you owe more than you brought in your credit eventually dries up. This is especially true when you owe more than a trillion dollars. America under Trump is just another of his failing business’s.

  34. Trump, I'm prepared for everything ( insert laugh here )….He just admitted to putting more money in the pockets of the rich, so who else should be happy about this?

  35. This was a good discussion. Sometimes people need to be outraged at this Administration, but we also need the kind of calm, balanced, analytical discussions like this.

  36. I look at a lot things when I choose who to vote for. The state of the ,at the time of voting, does not matter. WHO you elect is much more important.

  37. He literally didn't have to do anything, just ride Obama's coat tails, but being a dumb fu#k he had to be a bully on the world stage and now you know why he went bankrupt 6 times.

  38. Well, obviously MSNBC & CNN have crystal balls to see the future. Hasn't work so far. Their track record of the truth is terrible.

  39. As per normal, Trump can't see beyond his own pocketbook. The vast majority of Trump's wealth is borrowed money, so by making the Fed cut interest rates, that means that Trump will have to pay less interest on those loans. I would not surprise me, if they found out that Putin actually owns Mar-a-Lago, and other Trump Properties. Purchased with money laundered through foreign banks, giving "loans" to Trump that he should not have qualified for.

  40. Trump inherited a healthy economy, and claims credit for its success. The economy had experienced 106 straight months of growth; Trump rode the last 26.
    Now it looks like he's running that healthy economy into the ground.
    Trump voters thought that he was a successful businessman and would run the Country the way he ran his businesses.
    They got the second part right.
    If America could file for bankruptcy, that would be his next move…

  41. Y’all are just hoping for a recession and y’all keep telling people of a recession to hurt Trump. Screw you msnbc. 🖕🤥

  42. At some point Trump's rich buddies will turn on him and stop buying back their own stocks which will also stop this fake economy.

  43. Trump, his Republicans & Fox shouting about a “fabulous” Trump economy and amazing job creation..yet no one is talking about the other stats on job losses and business closures…suggest you check in daily to see for yourself what they ain’t talking about and what they don’t want to to focus on.. https://www.dailyjobcuts.com/

  44. Don't you love how this piece of trash trump just declares victory so he can ignore the problem while it only gets worse? If only we didn't have an ignorant thin-skinned loser like this as the "leader" of the country. I'd rather have someone who admits to problems and works to stop them instead of just saying it's fake news. What a pathetic embarrassment.

  45. He doesn't want the best for our country….he's a totalitarian….surrounded by yes men with no truth…stealing from the poor to give to the rich & wealthy….not a racist! Just Anti American…Anti you and me …

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