The looming recession, made in the USA

Donald Trump has often said that he wants three things to make America great again: lower interest rates, a lower dollar and lower oil prices. The developments of the last few days must have delighted him. What he failed to mention was that, to achieve this stunning result, he would do everything in his power to trigger a stock market crash and push the global economy, including the US, into recession. In the current state of the protectionist shock - the most intense in over a century - everything is conspiring to cause a contraction in activity and trade. Compared with the trend prior to this shock, we can expect a 2% fall in US GDP and a 1% drop in global GDP.