Since World War II, the average expansion has lasted 52 months (the average recession 10). We're currently in an expansion that began in July 2009. That was 73 months ago. Today, the stock market sunk, largely as a reaction to the fall we've seen Asian markets taking.
A recession is coming.
So, why consider some things seriously?
In recessions, Americans look to fire the president. We did so in 1992. We did so again in 2008, though we couldn't fire George W. Bush. We did the next best thing: fire his party.
We cannot fire President Obama in 2016. But we can fire his heir.
So, can Republicans please rally around someone other than Donald Trump? Please.
On the bright side, maybe borrowing money to finish the basement renovation isn't such a bad idea. My hunch is the Fed will leave interest rates right where they are.