Rachel Alexander compiles predictions of financial experts who see the writing on the wall
Powerful voices in the financial and economic sectors are warning that the U.S. is headed for a gigantic economic collapse. The U.S. continues printing money to keep up with its financial obligations, spending way beyond its means. With Democrat Joe Biden as president, there is even less of a check on spending than under Republicans. The debt recently increased another trillion within 90 days, reaching $34 trillion.
Rep. David Schweikert of Arizona started putting on regular presentations in the House of Representatives about running out of money, due to Social Security and Medicare bankrupting the country. Stanley Druckenmiller, chairman and president of Duquesne Capital, warned of the “Coming Fiscal Horror Show” in a speech last spring, lamenting that due to the the out-of-control spending on entitlements, “pensions tomorrow will be a fraction of what they are today, and the government won’t be able to pay for more than half of Americans’ health care bills.” Additionally, he warned that “risky behavior from investors, banks, and the government” are creating “unprecedented bubbles in both breadth and magnitude,” pretty much an “everything bubble.”
A key financial indicator of the financial shakiness is the latest ranking of debt-to-GDP ratio, 119%, in fifth place in a ranking of countries with the highest ratio – behind only Japan, Greece, Singapore and Italy. The U.S. is in danger of losing its place as a reserve currency. If it does, the “the government would face challenges in financing its budget deficits and implementing its fiscal policies.” There will be higher inflation, higher borrowing costs, less access to capital, and a slower economic growth rate.
OH > Dirty Biden says Everything is Fine !!!!
This LIAR in Chief says Everyone is happy with HIGH INFLATION !!!!
Every two weeks one of these goofballs predicts economic collapse. Eventually, like a broken clock, they’ll be right a couple of times. Then they’ll ride out the scam for their own profit! Pay more attention to Warren Buffet. Save and invest. Over time the markets go up. No individual stock picking. Just low cost index funds. The markets beat everyone else in the long run. Nobody beats the markets over the long run.
Democrap Party Responsible !!!!
Great idea 4:45, if you can invest. I’ve explained the whole economic equation to a few weeks ago but I guess you’re too old to comprehend. Things aren’t like they used to be pal, we now have the deep state and elite holding younger people from prospering. When you were just starting out in adult life, wages were more compatible with expenses.
6:07 I know younger people. Some are willing to work hard and live properly. But most expect they are entitled to things and act like babies when it’s not handed to them. I have some young employees who are terrific. I also have some that probably won’t remain as employees here much longer if they don’t change their ways. They think just showing up is enough to earn their salary, and they’re getting ready to leave every day well before 5:00 pm. Even if your thoughts about the deep state and the elite were true (which I don’t agree with), that’s literally the way it’s always been. Those in power try to keep it. Economic inequity is part of our system and always has been and always will be. But the fact remains, each of us is in charge of our own financial lives.