Recession looms

Larry Kudlow, best friend of Rosy Scenario, has written an article about declining growth in the American economy.

To summarize, May, as you know, showed weak job growth even though almost 1/2 million people left the workforce. Job growth is now about 1/3 of what it was last December.

A slump began in the second half of 2014. Stocks are flat. Business is not investing. Production has fallen. New orders are flat as is the demand for services.

US Corporate taxes (the highest in the world) destroy the vitality of the American economy as the government wastefully squanders the money that it collects from business. Kudlow says that Corporate taxes should be slashed to 15%. (I wonder if either party has the brains to do that?)

Kudlow says:

"So let this be a warning. The overall economy is not yet in recession. But the business economy has been slipping for quite some time. And if falling profits and business investment continues, the jobs slowdown will follow suit — if it hasn’t already."

Read more at: http://www.nationalreview.com/article/436204/business-recession-looms-poor-jobs-report