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There Could Be a Financial Crash Before End of Trump's First Term, Experts Say

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  • There Could Be a Financial Crash Before End of Trump's First Term, Experts Say



    Financial experts noted several ominous economic indicators, including skyrocketing student loans and U.S. household debts, that could predict a crash "worse than the Great Depression," according to a report in the New York Post.

    Goldman Sachs predicted that this year's U.S. fiscal outlook would be "not good," and that U.S. household debt had been increasing since the 2008 housing crisis led to American taxpayers bailing out the big banks.

    In 2018, experts said, a $247 trillion global debt will be the greatest cause of the next cataclysmic financial crash. Additionally, low wages and the U.S. national debt's steady rise are expected to drag down the economy.

    Economists downplayed recent positive indicators such as low unemployment and soaring business confidence, reiterating they wouldn't last through Trump's first term. At least one expert predicted that recent slides in housing and auto sales were the first step toward a U.S. recession.

    Murray Gunn, chief of global research at Elliott Wave International, told the Post, "We think the major economies are on the cusp of turning into the worst recessions we have seen in 10 years. Should the [U.S.] economy start to shrink, and our analysis suggests that it will, the high nominal levels of debt will instantly become a very big issue."

    Experts cautioned that several economic markers had gotten much worse over the past decade, especially in regard to borrowed money. The U.S. household debt of $13.3 trillion is now far worse than it was during its 2008 peak, due primarily to mortgage lending.

    Outstanding student loan debts have simultaneously increased from $611 billion of unpaid debt in 2008 to more than $1.5 trillion today. Automobile loans have far exceeded their 2008 peaks, sitting at about $1.25 trillion today, and unpaid credit card balances are just as high as the years leading up to the Great Recession.

    Central bankers have also more than doubled global debt as they flooded national economies with cheap and easy money. In 2008, global debt sat at $177 trillion, in comparison to $247 trillion today.

    "We won't be able to call it a recession, it's going to be worse than the Great Depression," economic commentator Peter Schiff told the Post. "The U.S. economy is in so much worse shape than it was a decade ago."

    https://www.newsweek.com/stock-marke...P3niMXdTqTOuEQ

  • #2
    They wish. These types also claimed a "Great Depression" would happen if Trump were elected. Ooops.

    Keep your fingers crossed, moron.

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    • #3
      Originally posted by nyuKKK
      They wish.
      Just like they conspired with the Chinese to create the coronavirus in order to make the Dear Leader look bad, right dipstick?


      These types also claimed a "Great Depression" would happen if Trump were elected.
      If, by "these types," you mean economists, then I suppose you're right...

      "We won't be able to call it a recession, it's going to be worse than the Great Depression," economic commentator Peter Schiff told the Post. "The U.S. economy is in so much worse shape than it was a decade ago."

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      • #4
        Of course there will be a dip.. Weather it’s a crash or a recession will depend upon the severity of the virus’ impact. But in reality we were “due” for a recession anyway and were just awaiting a catalyst. Simp’s will like the virus itself to the recession in there head it will be one in the same. In reality the virus will just be the spark and the underlying foundational problems in our economy are the true issue. But many if not most people will not be able to separate the two.

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        • #5
          A recession has been coming. The coronavirus probably just moved the timeline up by about a year.

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          • #6
            Peter Schiff has always claimed that the 2008 recession was to be as bad as the Great Depression, but it was ended prematurely with fed tricks like QE. This was a short term bandaid that would eventually make the next recession worse than the Great Depression.

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            • #7
              Originally posted by Arkie View Post
              Peter Schiff has always claimed that the 2008 recession was to be as bad as the Great Depression, but it was ended prematurely with fed tricks like QE. This was a short term bandaid that would eventually make the next recession worse than the Great Depression.
              The great thing about prognosticators is that there is always a recession around the corner it's apart of the business cycle. Counter-intuitively recessions are a good thing for the long-term health of an economy. Allowing businesses to go bankrupt/fail is healthy even though it causes short-term pain/displacement of workers. The re-allocation of capital caused by a recession may be the single healthiest thing for capitalism when compared to socialism/communism. Allowing inefficient businesses to fail with more efficient ones to rise in their place is progress.

              When you bail out ****ty banks and other corporations you get in the way of that economic business cycle. We have created a number of bad incentives across our entire economy starting with banks (mortgage, student loans, autos are all f'd). Then on to healthcare, SS, pensions, etc we continue to **** the bed to enable our current spending habits. None of this is tied to Trump, Obama, dems, repubs, or the coronavirus.. This is a byproduct of the entire system we have setup with government and nobody in power has the balls to tell us the truth.

              Eventually we will have to pay for our financial sins of complete inept mismanagement of our society. All markets clear in the long run and all debts will be realized. The coronavirus or the next FOTM crisis could be the catalyst.

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              • #8
                The author's name is "Fearnow." For reals.

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                • #9
                  Originally posted by Arkie View Post
                  Peter Schiff has always claimed that the 2008 recession was to be as bad as the Great Depression, but it was ended prematurely with fed tricks like QE. This was a short term bandaid that would eventually make the next recession worse than the Great Depression.
                  The derivatives market blew past 1 quadrillion some years ago. That's the San Andreas Fault under this economy. Remember what happened to AIG after their $18 billion in derivative bets went South? It's all credit. There's not enough money on the planet to fix it now. The international banks have been running a giant casino. It will be fun listening to the arguments for deregulation after the next crash.

                  The last guy you want in charge when that happens is Donald Trump.

                  The next to last guy you want is Joe Biden.

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                  • #10
                    More wishful thinking from the false financial gloom and doom predictions crowd.

                    Keep hope alive, tho!

                    Comment


                    • #11
                      Originally posted by nyuk nyuk View Post
                      More wishful thinking from the false financial gloom and doom predictions crowd.

                      Keep hope alive, tho!
                      We're not cult members, like you are. So, we like to look at the evidence, watch the signposts, and try to discern what might come next, or at least down the road a piece. It's easier for a cult member. You just believe whatever your Dear Leader tells you.

                      Comment


                      • #12
                        Originally posted by nyuKKK
                        More wishful thinking from the false financial gloom and doom predictions crowd.

                        Keep hope alive, tho!
                        ^

                        More butt hurt from a snowflake who's convinced that any bad economic news reported by the media is just part of a Democratic conspiracy to make Dear Leader look bad (as if he needed any help in that department.)

                        L0L.

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                        • #13
                          bump

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                          • #14
                            Panicbot5000

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                            • #15
                              Could?

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