Debt Rattle December 23 2016

[Raúl Ilargi Meijer]

Ben Shahn Quick lunch stand in Plain City, Ohio 1938 • Donald Trump Can’t Stop The Next Financial Crisis – Jim Rickards (MW) • “Russia Did It” – The L
[See the full post at: Debt Rattle December 23 2016]

[Birdshak]

Jim Rickards rules!

[ExponentialAbsurdity]

Jim Rickards has been predicting this kind of stuff for many years. In fact, numerous people have been predicting this, but it still hasn’t happened. Doesn’t mean it won’t but the record is definitely stuck on repeating this kind of rhetoric over and over again.

On a similar but different front, how many people have been predicting peak oil would be our undoing, but that still hasn’t happened either. In fact, nothing seems all that much different than it has for the past several decades except debt levels continue to rise.

I would say our worst chance of difficulty is with The Donald. He plans to stick a monkey wrench into the way things are done and that can lead to a lot of problems. Even best case scenario he will make it much harder on the average person and much better for the top 5% because he’s self serving, ultimately wanting the rules to favor him and his offspring. That means less labor union power and influence, higher retirement age to collect SS. Restrictions on medicare and reductions in food stamps, along with abolishing or greatly reducing the Federal minimum wage, ending Obamacare with nothing to replace it throwing millions off their insurance. He’s also talking about getting rid of the mortgage tax deduction which will hurt tens of millions of people using that for their primary residence. Yet, he’s going to reduce corporate tax rates from 35 to 15-20%, and we just know for sure there will be massive tax cuts for the highest income producers.

So it won’t be some cataclysmic end, but rather the screws tightening ever harder on regular people. That’s much more difficult to experience than some sudden end. It’s called slow torture brought to us by stupid people voting against their own best interest, because they’ve been conned by social issues.

[V. Arnold]

Well, it just goes to show you; it’s hard to make predictions; especially about the future.
Yogi Berra

[Author]

Posts