This isn’t a good economy I’m afraid. The American economy is a bubble economy blown up by the federal reserve. The printing presses are on now more than when they where doing quantitative easing 1,2 and 3. The problem with tying your success to the stock market is when it drops through the floor the electorate will vote accordingly. Russel 2000 is down 9% and dow is down 7%. This is only the beginning of the recession there will be worse days than this.
If you read this and dont believe me listen to an economist who predicted the 2008 housing crash who says the economy is a bubble > peter schiff. Check out his YouTube and decide for yourselves
6 replies on “Trumps economy is imploding”
This isn’t Trump’s economy… He called it more accurately as candidate Trump when he commented on the overpriced nature of the market.
This bubble began back in 1972 when we as a nation closed the gold window, took the world into a floating currency against all other currencies, and began to print the dollar into oblivion back in the 90’s. What we’re experiencing presently is the inevitable conclusion to that highly dishonest, deceptive, and evil practice.
I think Trump has fallen victim to the disease to which every other politician falls; “it’s the economy, stupid”. He wants to continue another term, so he’s talking up his game… President Carney-barker. Some businessmen oversell, some of us undersell and allow the results to pleasantly surprise our clients. Trump definitely oversells.
Leviticus 19:35-36 Ye shall do no unrighteousness in judgment, in meteyard, in weight, or in measure. Just balances, just weights, a just ephah, and a just hin, shall ye have.
And in our own Consitution, no state shall issue “bills of credit” only gold and silver coin.
A US dollar backed by nothing is a debt instrument. This problem has been brewing our entire history and is tied inseparably from the issue of a central bank. Trump just happens to be sitting in the hot seat when building comes down with pretty much nothing to be done.
Thats true but Trump was stupid enough to take credit for the booming stock market. He should have made the Fed be responsible and increase interest rates. Trump could have told america it will be hard times until the debt is paid. Trump didn’t he join the swamp and pretends the economy is good.
Yep, he did… as I referred to Candidate Trump vs. POTUS. I agree, he should be teaching a bit more often how things work; which frankly, the People need. As a group, they are NOT well enough informed. We are, however, resilient and have proven to rise to a challenge.
I think he may be playing some cards close to his chest. Solving the debt crisis he needs to put a little thought into, and I don’t know that he’s actually playing 4-dimensional chess but relying on instincts. If he gets reelected, we might see a shift to a bit more hard-ball tactics.
The Fed is responsible for our financial problem. I think Trump is piling up the skeletons in their closet and hopefully plans to open that door sometime soon; likely when he can leverage it for benefit.
I agree that we are in a bubble. The government has been distorting the economy for many years. We have low interest rates encouraging spending and punishing saving. My definition of punishment here is that they force savers to choose between interest rates below inflation (the safe option) or the stock market (the risky option).
We have not had anything like fiscal responsibility for over 20 years. “Compassionate Conservative” Bush and Congress gave us Medicare Part D and war with Iraq with no way of paying for either of them. Obama and Congress did the same with the “American Recovery and Reinvestment Act of 2009” (what a boondoggle!). There were essentially no tax increases and no spending cuts in either case.
I hope that the optimists are correct that we will grow out of our current deficits.
Schiff is a never-trumper
He isn’t he has said on his channel he prefers trump over any dem. Schiff doesn’t cheer lead like other economists he says the truth.