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In 2016, Trump said federal debt would be paid within 8 years –
Yet the U. S. has record mounting debt/record deficits.
Is an economic crash coming more severe than in 2008? Some think so!

Credit: Joe Heller, The Week Magazine

It portends a slower-growing world with low investment returns and in which workers will have to either save significantly more along the way for retirement or remain employed for much longer. Home buyers will be able to wait longer without fear of missing out. All of that will put pressure on the already slow U.S. economy, which is likely to produce less wage growth and opportunity,” by Stephen Gandel, CBS News.

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Growing distrust between the United States and China has slowed the once steady flow of Chinese cash into America, with Chinese investment plummeting by nearly 90 percent since President Trump took office.

The falloff, which is being felt broadly across the economy, stems from tougher regulatory scrutiny in the United States and a less hospitable climate toward Chinese investment, as well as Beijing’s tightened limits on foreign spending,” by Alan Rappeport, The New York Times.

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“Warren warns of ‘coming economic crash’”

“‘Warning lights are flashing. Whether it’s this year or next year, the odds of another economic downturn are high — and growing,’ Warren (D-Mass.) wrote in a Medium post entitled “The Coming Economic Crash–And How to Stop It.”

“‘I see a manufacturing sector in recession. I see a precarious economy that is built on debt — both household debt and corporate debt — and that is vulnerable to shocks. And I see a number of serious shocks on the horizon that could cause our economy’s shaky foundation to crumble,’ she wrote.

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Click here for interview with former SC Gov Mark Sanford.

Click here for the details from Morning Joe July 23, 2019.

“MAGAgate: The Hidden Agenda Behind Donald Trump”

“Trump has only ONE metric by which he measures his success…THE STOCK MARKET

… so when the stock market comes crashing down, and it will, his failed presidency will be exposed for the utter disaster it has truly been, not only for the American people but also for the world-at-large. From The Millennium Report.

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“‘We’re like Thelma and Louise’: Republicans shrug at deficits under Trump”

With the agreement, Trump has effectively shelved a debate about the nation’s ballooning deficits as he turns his attention to pursuing protectionist trade policies, job growth and hard-line immigration measures, along with his grievances with rivals and Democrats.”

” Under Trump, federal debt has surged to $22 trillion and the annual deficit is expected to reach $1 trillion this fiscal year. Trump claimed during the 2016 campaign that he could eliminate the debt in eight years; instead, it has grown $3 trillion during his tenure.”

“Sen. John Neely Kennedy (R-La.) bemoaned what he considered runaway government spending: ‘You don’t have to be Euclid to understand the math here. We’re like Thelma and Louise in that car headed toward the cliff,’ he said. But he said he is open to supporting the agreement,” quoting Robert Costa, Mike DeBonis, The Washington Post.

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“US economic growth failed to reach 3% in 2018; first time since 2005”

“The government revised its numbers Friday [July 26], showing economic growth last year was slower than previously thought,” by Christopher Rugaber, AP Economics Writer.

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Chinese Money in the U.S. Dries Up as Trade War Drags On

Posted by Steve on August 4, 2019 at 12:03 am | Permalink

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