Citing America’s debt problem, financial experts have stated that the impending economic crash could occur during president Donald Trump’s first term. The trade war and its price hikes and inflation could help push debt-riddled Americans and government to the financial limit.
Several ominous economic indicators including skyrocketing student loan and United States household debt could predict a crash “worse than the Great Depression,” according to a report in the New York Post. As of today, Americans will begin feeling the trade war in their wallets, straining finances even more. But the national debt and household debts are taking the blame for the eventual global market crash.
“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn, head of global research at Elliott Wave International. “Should the [US] economy start to shrink, and our analysis suggests that it will, the high nominal levels of debt will instantly become a very big issue.”
“We won’t be able to call it a recession, it’s going to be worse than the Great Depression,” said economic commentator Peter Schiff, forecasting a major economic downturn as early as the tail end of the Trump presidency’s first term. “The US economy is in so much worse shape than it was a decade ago.” Schiff added, “I think we are going to have a dollar crisis — you think the Turkish lira looks bad now, wait till you see when the dollar is imploding and we have a sovereign debt crisis in the US,” he told The New York Post. “The US government is going to be given a choice between defaulting on the debt, or else massive runaway inflation.”
According to Newsweek, economists downplayed recent positive indicators such as low unemployment and soaring business confidence, reiterating they won’t last through Trump’s first term. At least one expert predicted that recent slides in housing and auto sales are perhaps the first step toward a U.S. recession.
Central bankers at the behest of governments have also more than doubled global debt as they have flooded national economies with cheap and easy money. In 2008, global debt sat at $177 trillion in comparison to $247 trillion today. When the crash finally happens, the public will look to those who created the perfect storm for it occurs, but there won’t be a solution. “People will look to central banks to help them out, but the authorities will be found wanting,” Gunn warned. “Our prediction is that central banks will go from being feted for ‘saving the world’ in 2008 to being vilified for being impotent in the coming deflationary crash.”
Some would say that was the plan from the start. Crash the economy on Trump’s watch so that conservatives would be blamed, then bring on the global reset.
There will be no globalization.. all these 400 million guns will stomp them out and teach them a lesson they will NEVER FORGET
Purchasing Power of the U.S. Dollar 1913 to 2013
I THINK WE HAVE ALREADY CRASHED ?
https://visual.ly/community/infographic/economy/purchasing-power-us-dollar-1913-2013
END THE FED
Based on gold at about 30$/oz, which was what we had in 1913, how many total (1913) dollars would we have in circulation today?
Keep in mind that we would have had to pay all foreign debts with that gold during the intervening years and not been able to replace all of it with our own gold production since we first started a trade deficit.
I’ve been hearing since 2008. HO HUM, going back to sleep.
Same song, second verse.
Have been hearing this since ’79 and all thru the years. Anyone have a precise date?
“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years” >>>>Really? In 10 whole years huh? How many have we seen?
“Central bankers at the behest of governments have also more than doubled global debt as they have flooded national economies with cheap and easy money. In 2008, global debt sat at $177 trillion in comparison to $247 trillion today.”
>>>>Do you folks proof read this stuff? 177 X 2 Is? Still might have doubled global debt like you say but not from 2008.
This is news? I thought was common sense after the bailouts began? The “economy” is a trump card for political upheaval. Just like Osama’s death was. Americans have a very short attention span and memory so I’d predict 6-12 months before the next election. Too soon and there won’t be enough time for the media to vilify Trump and blame his trade war.
While we’re on the topic of the greatest depression ever known to mankind coming….what do you think happens to preppers and all their goods? Run and hide? I see a collection of goods and weapons ban coming. We’ll be ripe for the picking. Good luck.
The New York Post and Newsweek? No “fake” news there. Of course these guys want the economy to crash while Trump is president. They will do everything they can to facilitate that. Trying to make Trump look bad is their number one job.
First, the “Powers That Be” PTB have this all worked out. Second, a debt collapse as been priced-in by Wall Street.
There are no consequences anymore. Everything that we use to believe counted for something counts for nothing today.
The USD was doomed the first time one of these professional politicians said that only criminals carry cash. In the case of the USD, a financial collapse means nothing to these people. Its all part of the plan.
The USD will be withdrawn. Cash, like gold was in the last financial collapse, will be banned; replaced with special drawing rights. They will take the gold and silver, too. The USD (our fiat currency), will be out-fiated.
There are no consequences anymore. Everything that we use to believe counted for something counts for nothing today.
I’m getting a real lesson in this up close and personal.
It’s the most depressing thing I’ve ever seen and I’ve seen a lot of depressing shit.
FWIW, the anti-Trumpers have been giving dire doom and gloom warnings about everything negative that “could” happen since he first announced as a candidate.
But how many of them have happened?
And how many that are the opposite of what they were warning about have happened instead?
Elliot Wave is the closest thing to voodoo on Wall Street.
We may have a crash in 10 minutes or 10 years but one thing is for certain – the experts will loose their money along with everyone else.
Impending doom for the people. What else is not new? Watch TV and be satisfied with the ad commercial onslaught repeated over and over. The midterm elections are said to have the demoncrats retaking some aspect of the two party fake divide when anybody with any sense knows that will change nothing. Terminal political death of both parties is nearing as the next stage of capitalism is imperialism, the ultimate smashdown of people’s rights. The people are becoming more aware of the rigged gameplan. A brutal murderous capitalistic response awaits.
Well, I would much rather have Trump in power during a depression or reset than another Obama or God forbid Hitlery. Can you imagine a democrat in power it would be like Venezuela but 10x worse. Mickey Mouse running our govt again.
It WILL BE on Trump’s watch.
Guaranteed.
They cannot, have not, been able to CONTROL this man.
So what would this do the insanely over inflated cost of houses and vehicles?
When the F did it become ok and acceptable for a truck to cost $75,000.00??