An economic crash is looming, and it could determine the fate of Trump - and the country
By Thom Hartmann A...
If he times it right, Donald Trump might set back the Democratic Party for a generation or more; if he misses, he'll go down in history along with Herbert Hoover as the guy who brought the nation an economic disaster.Back in 2007 and early 2008, many of us were convinced that an economic crash was coming, and that George W. Bush and his Treasury secretary, Henry Paulson, and Fed chairman, Alan Greenspan, knew it.
And we also thought that they were doing everything they could to hold it off so it would happen after the 2008 election, so if a Democrat was elected they could say the crash was because people were "worried about the incoming Democrats," and if McCain won it would be his problem, not Bush's.
It appears that Trump may be doing the same thing, only, as with so many of his High Crimes (a phrase that includes "serious misuse or abuse of office"), he's being much more public about it. On June 15, he tweeted, "if anyone but me takes over... there will be a Market Crash the likes of which has not been seen before!"
Read more here.
-Thom
Comments
#2
Since when have we had unregulated capitalism? And don't forget, there are just as many rich so-called democrats as there are republicans.
#3
Who is the author of
"The Crash of 2016"
I rest my case.
#4
There will be no crash. Get real. There could be a recession of some kind, but that is far different than a "crash".
Economists predict crashes during every presidency but they rarely happen (depending upon your definition of crash). Their predictions, much like the climate change alarmist predictions, are almost always wrong. Its amazing that people like Krugman are listened to at all considering that they have been spectactorly wrong about the economy the last 3 years.
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Due to all those trillions that Republicans borrowed in our name to enrich the already rich, for which the rest of us poor folk and our kids will be paying out the nose, our hollow, "sugar high" economic expansion -- that primarily benefits the lucky few soaring into the stratosphere-- will be the longest in American history come July.
Although even the experts can't predict for sure when the bubble will finally pop, rest assured that it will most certainly pop, sooner rather than later, especially in view of such weak, meat-and-potato fundamentals.
What goes up will come down. And this time it very well could be a lot worse than 2007-8, considering that there's a lot less of a cushion to soften the impact. Karma would be that the culprits responsible for reaching these dizzying heights of mindless greed will be left holding the bag politically. One can only hope.
Now tell us again, all you fake "conservatives," why exactly unregulated capitalism is a good thing. While you're at it, please explain what you are actually "conserving" if not the power of the rich over everyone else.
Crickets.