PICTURE ABOVE WAS POSTED BY PAPA MIKE AND NOT BY THE SOURCE OF THIS ARTICLE ……Papa Mike
Unemployment is spiking
at an unprecedented rate. Consumer spending is vanishing
. And GDP is collapsing
. History shows that dreadful economic trends like these spell doom for sitting presidents seeking reelection.
The coronavirus recession will cause Trump to suffer a “historic defeat” in November, a national election model released Wednesday by Oxford Economics predicted.
“It would take nothing short of an economic miracle for pocketbooks to favor Trump,” Oxford Economics wrote in the report, adding that the economy will be a “nearly insurmountable obstacle for Trump come November.”
The model has correctly predicted the popular vote in every election since 1948 other than 1968 and 1976 (although two candidates lost the popular vote but won the presidency in that span, including George W. Bush in 2000 and Donald Trump in 2016).
Ohio, Missouri could flip to Democrats
The national election model assumes that the economy is still in bad shape this fall, with unemployment above 13%, real per capita incomes down nearly 6% from a year ago and brief period of falling prices
, or deflation.