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So, how long do we have until the next recession?
If revenue growth for accounting firms, or should I say a lack there of meeting projections, maintains over the next 2-4 quarters then we are pretty close. Almost all large accounting firms are failing to meet their projections YTD right now. The larger firms started firing people here and there. And once firms start to cut back on consulting and similar work that means that they are feeling and seeing something that isn't being spread to the rest of the economy just yet but soon will.
Expenditures such as these are very good barometers for the wider economy when it comes to private business spending.
I am paying attention to higher ed, agriculture, energy, and tourism. These are industries that will not be receptive to this administration's economic policies: international students represent 10% of the revenue of higher institutions (let's not mention the number of foreign born PhDs and professors), tourism is a $60 billion business, a large share of agriculture labor is immigrant (and the difficulty of finding US-born workers in that field is well documented), and Trump's preference for coal makes no sense considering that this industry is pretty much dead. The next six months should be interesting.
@katelinthicum:
Important @ByBrianBennett analysis of Trump's real immigration goals: Reshape U.S. demographics for the long term.
*White nationalists
http://www.latimes.com/politics/la-na-pol-trump-foreigners-20170228-story.html
You don't say?
The thing is, unless they start having babies and make non-white kids stateless, it will be hard to beat the fact that there are more non-white kids than white kids enrolled in public school right now (and public school accounts for 90% of all school-age children in the US). So, worried but not worried.
If they look towards exclusively European immigration to make up those numbers, they will still have to deal with the reality that they are also growing older and they're having kids below the replacement level (which is why Merkel favored the influx of immigrants).