, Columnist
The Recession Train Has Left the Station
A minor trade-war truce, if it even exists, won’t save the economy.
Get ready for a wild ride.
Photographer: Jason Kirk/Hulton Archive/Getty Images
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For the past 18 months, the global economy has been on a miserable roller-coaster ride, the Fiery Fist O’ Trade War Pain. In the past few days alone, we’ve gone from soaring highs to gut-wrenching drops. At the end of the line, recession awaits.
On Friday, President Donald Trump said he’d struck a trade truce with China, and stocks soared. This morning, China said it needed more talks to reach a truce, and markets tumbled. Having fun yet? No. (For more of this sort of “entertainment,” see the Brexit Tilt n’ Spew, which took another bad turn today.)