Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years, by Bob Woodward and Robert Costa.
Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market…
Trump is probably correct in that the economy and stock market are in bubbles. The bubbles were created by central bank manipulation of the money supply. But there is no particular reason to believe a crash is imminent. Big picture and longer term, here’s why: A Global Debt Crisis? BIS Warns Of ‘Gathering Storm’ Over Excessive Borrowing (see especially the graph). The best the central banks can hope for over the next decade is to engineer enough money growth to prevent a depression, leading to a stagnant economy like Japan has had since it’s bubble collapsed in 1990. That will probably fail when the next global recession inevitably comes along, at which point the central banks will have to resort to nakedly printing new debt-free money. After than Trump might get to pay off the US debt, and the world’s crippling debt will be inflated away. The losers will be savers and those owned money, especially retirees, and the winners will be those receiving the newly printed money.
Over the course of the discussion, the candidate made clear that he would govern in the same nontraditional way that he has campaigned, tossing aside decades of American policy and custom in favor of a new, Trumpian approach to the world.
In his first 100 days, Trump said, he would cut taxes, “renegotiate trade deals and renegotiate military deals,” including altering the U.S. role in the North Atlantic Treaty Organization.
Trump admitted bowing to leftists protestors:
And after a series of violent incidents at his rallies between supporters and protesters, Trump acknowledged that, at least for a little while, he has tried to calm things down.
“We’ve purposefully kept the crowds down this past week,” he said. “You know, we’ve gone into small venues and we’re turning away thousands and thousands of people, which I hate, but we didn’t want to have the protest. You know, when you have a room of 2,000 people, you can pretty much keep it without the protesters.”