Remember when the radical left spent years insisting that the Biden economy was booming and claiming that inflation was under control, prices were falling, and wages were rising? They gaslit the public nonstop, even going so far as to redefine what a recession was just so they could pretend that one didn’t happen under Biden. These same so-called “experts” told us to ignore our empty wallets and skyrocketing grocery bills because everything was supposedly “just fine.”
But fast forward to the moment Trump retook office, and suddenly, it was all doom and gloom. The very people who swore up and down that we weren’t in a recession are now hysterically warning that one is just around the corner — and, of course, trying to pin it on Trump. Yes, the gaslighters have flipped the script again, hoping that no one notices the contradiction.
The good news? The public isn’t buying it anymore. Americans are waking up and realizing they’ve been fed a steady diet of lies from the same crowd that spent years pretending that Bidenomics was a success story.
“Bettors in the prediction markets are dialing back recession views, with the odds of a US downturn falling on the latest trade-war developments,” Business Insider reported on Monday. “Big bets on Polymarket and Kalshi predict a 40% chance of recession as of Monday, down from 52% at the end of last week.”
So what changed? The very thing they said would trigger economic collapse — Trump’s tough stance on China — actually produced progress.
After high-level talks in Switzerland, the U.S. and China struck a new trade deal targeting the $1.2 trillion trade deficit, a key pillar of Trump’s America First agenda. The agreement includes a mutual rollback of 24 percentage points in tariffs starting May 14, 2025, while each country keeps a 10% base rate in place. The joint statement marks a major de-escalation in trade tensions and a clear sign that Trump’s pressure campaign is delivering results.
Related: U.S.-China Joint Statement Marks a Turning Point in Trade Showdown
Imagine that: diplomacy and strength at the negotiating table working better than the constant fear-mongering from the usual suspects. Who could have guessed that?
Polymarket’s recession outlook hasn’t been this low since April 2, a day before the Trump administration unleashed the wave of reciprocal tariffs.
Other parts of the market are also growing more upbeat about the path of the economy through the rest of this year.
While large-cap US indexes surged on the China tariff update, the Russell 2000 also kept pace, climbing as much as 4%. The index is made up of small-cap stocks, which are typically more susceptible to the cyclical swings in the economy.
US crude oil jumped 4% from Friday’s close amid stronger prospects for US and global growth to hold up as the trade war cools. Meanwhile, bond yields rose as investors ditched the ultra-safe government bonds in a broad shift to risk.
The only thing evaporating faster than recession odds is the credibility of the media outlets and Democrats who assured us that the economy was about to implode. In the end, the only thing they proved is that the left was rooting for a recession.
The media won’t admit it, but Trump’s tough stance on China is working exactly as planned. Get deeper insights into America’s economic revival with PJ Media VIP. Access exclusive content, ad-free browsing, and expert analysis they don’t want you to see. Join now with the code FIGHT for 60% off and help us keep exposing their lies.
