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Donald Trump & Co. have thrown the already rapidly collapsing America off an economic cliff. Over the next few weeks, they will pound the wreckage, even set it afire, unless they get a lucrative new favor for Corporate America.

The Trumpians are actively ruining our economy because, in a perverse way, they share the belief of the Black Lives Matter protesters that the American justice system can’t be trusted.

Both Senate Majority Leader Mitch McConnell’s (R-Ky.) cruel recalcitrance on coronavirus relief and the Black Lives Matter demands are about accountability in the courts.

I’ll explain that troubling nexus, but first, let’s understand the awful reality that Trump and Radical Republicans in the Senate have created and why it can only make our economic disaster worse.

Because of Trump’s mismanagement, America has been in economic freefall since March as the Grim Reaper roams freely.

Thanks to Trump’s denial of science and idiotic ideas about the coronavirus, the pandemic grows worse and worse even as Europeans [...] This Raw Story article is free to Alternet ad-free members.
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  • 1Jared Kushner called on to resign after damning report reveals his ‘depravity’
  • 2Trump storms out after CNN’s Kaitlan Collins puts him to shame for promoting a quack doctor
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  • 9Here are 3 ways Trump’s ‘nepotistic family criminal enterprise’ is burrowing his campaign into the ground
  • 10Trump supporters fume at the president’s campaign for spamming them with ‘sleazy’ text messages
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Michael Cohen says ‘Trump knows he will face prison if he leaves office’ because of ‘fraud, scams and lawlessness’

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The Economic Recovery Looks Stronger Than Expected

The U.S. economy looks to be recovering at a faster pace than expected, triggering economists to upgrade their estimates for third-quarter growth.

Economic data this week indicated that the economy may be more resilient than expected. New claims for unemployment benefits fell below one million, beating forecasts, despite the failure of Congress to pass legislation and a rise in coronavirus cases in July. U.S. factory production was higher than expected in July. Consumer sentiment improved in early August. Retail sales, outside of the auto sector, were strong.

Even prior to this week’s wave of good data, economists surveyed by the Wall Street Journal in August saw the economy expanding at an 18.3 percent annualized rate, up from their July forecast of 15.2 percent.

The Atlanta Fed’s GDPNOW economic indicator reads the economy as running at a 26.2 percent growth rate, up from 20.5 percent a week ago. That very likely overstates what growth will be in the third quarter but it gives a good idea of just how strong recent economic data has been.

There is good news on the virus, as well. Over the past week, there have been an average of 53,303 cases per day, an 18 percent decline from the average two weeks earlier.

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