Donald Trump predicted that the United States is on course for a “very massive recession,” warning that a combination of high unemployment and an overvalued stock market had set the stage for another economic slump.”I think we’re sitting on an economic bubble. A financial bubble,” the billionaire Presidential candidate said in an interview with The Washington Post published this past Saturday.
Lana Clements writing for the Express reports, states that fears are growing for some of the world’s biggest investment banks, as experts warn mayhem could soon rip through markets over the coming weeks.Trading revenues at global investment firms dropped by as much as 56% at the start of this year with Europe’s firms among the worst affected, according to European financial analysts.
America is not immune to these pressures and the American financial market has seen corresponding drops in the markets. Volatility may have waned in America, but many experts feel that that we are in the middle of two financial tsunamis and that second proverbial tsunami is quickly approaching.
The Rubber Has Finally Met the Road
I am so sorry that I feel compelled to unleash the realities of such a hellish nightmare that is beginning to engulf this country. The United States is in the early stages of an economic meltdown. I apologize to the cognitive dissonance crowd, but your days of ignorant bliss are coming to and end. How can I be so sure?
We live in country that only takes in $2 trillion dollars per year in tax revenue, yet we are looking at the most staggering debt in world history:
1. The U.S. has a soon-to-be $21 trillion dollar deficit and that is the good news.
2. $240 trillion dollar unfunded and mandated liabilities (e.g. Medicare and Social Security).
3. We Live in a nation where the US has a $1.5 quadrillion dollar credit swap derivative debt that the bankers have managed to pass along to the people. The interest alone, on the derivatives debt, was $505 trillion dollars last year.
4. We live in a country where both the Democratic and the Republican Presidential nominations are in the process of being stolen and millions of desperate voters are being told your vote and your voice don’t matter. “We will tell you who the President will be”….”Now shut up and sit down or face the consequences”.
5. We live in a country where the division of wealth disparity is the greatest in the modern first world nations.
6. We live in a country, with regard to the middle class sharing of wealth in the G20 nations, the United States middle class is last in terms of how much wealth it shares with regard to overall national wealth.