Rancid wrote:Some people on the business news media claim that whoever is president next term, will likely have to deal with a weaker economy.
Yay, or nay?
Unquestionably yay. Donald is an old dog and you cannot teach an old dog new tricks. All of his life he has used debt and bankruptcy to finance his business. Eventually no American bank would let him in the door. He had to turn to the German money laundromat Deutsche Bank for a cash fix. He has the same M.O. with the US economy. America is awash in debt fueled "prosperity". Donald reduced tax revenue with his trillion dollar gift to billionaires. America now spends $1,000,000,000,000 more each year than she takes in while the shift of wealth from the lower 90% to the upper 10% has speeded up under Donald. Household debt in the US is now at an all time high as po folk turn to credit cards and debt to put food on the table. Trade wars and coronavirus lend enormous elements of uncertainty to the picture. The usual result to Donald's debt financed "prosperity" is fast approaching but, this time, it will not end in bankruptcy. Due to the unforgiving nature of mathematics and the brutal truth that 2+2 still equals 4 (Donald's hot air notwithstanding) we will experience a crash the timing and details of which are not yet known.
free advice: dump your paper and buy gold. Once things settle a bit, turn your gold into real estate as real estate bottoms out.