the US economy is collapsing, & this time there'll be no recovery my friends. just ask Dave Stockman

[Mac1958]

Capitalism the great failure. Only communism could save it.

Communism is presently against the law in the US.

Correct.
.

 

[Mac1958]

David Stockman, 2013
'We're Going to Have a Crisis': David Stockman's Stark Warning for America

David Stockman, 2014
Ep. 15 - Real Conversations: Crisis Coming? Stockman on ‘Likely Global Recession’ & Consequences of the Fed - Real Conversations

David Stockman, 2015
Stocks are a 'disaster waiting to happen': Stockman

David Stockman, 2016
This is the greatest suckers' rally of all time: David Stockman

David Stockman, 2017
Stockman interview, everything will grind to a halt | CMI Gold & Silver

David Stockman, 2018
Stockman: Trump 'Playing With Fire'; 40% Market Correction Coming

David Stockman, 2019
'Daredevil' Stock Market Poised to Drop 40%: Stockman

Since he started screaming in 2013, the S&P 500 is up 101.44%.

He'll be right sooner or later, but I don't know how anyone takes this guy seriously.
.

 

[Third Party]

It's a game kids, ALL of it. We have no say, we are watchers.

you can always elect Beto!

Is this because of Global Warming/Cooling, or in addition to?

 

[basquebromance]

David Stockman, 2013
'We're Going to Have a Crisis': David Stockman's Stark Warning for America

David Stockman, 2014
Ep. 15 - Real Conversations: Crisis Coming? Stockman on ‘Likely Global Recession’ & Consequences of the Fed - Real Conversations

David Stockman, 2015
Stocks are a 'disaster waiting to happen': Stockman

David Stockman, 2016
This is the greatest suckers' rally of all time: David Stockman

David Stockman, 2017
Stockman interview, everything will grind to a halt | CMI Gold & Silver

David Stockman, 2018
Stockman: Trump 'Playing With Fire'; 40% Market Correction Coming

David Stockman, 2019
'Daredevil' Stock Market Poised to Drop 40%: Stockman

Since he started screaming in 2013, the S&P 500 is up 101.44%.

He'll be right sooner or later, but I don't know how anyone takes this guy seriously.
.

so he's consistent? good!

 

[theHawk]

Donald "this is the best economy ever" Trump will not know what hit him, much like the titanic. i call it the DEBTBERG!

i agree with Reagan budget director Stockman 100%

Anyone who can "call" the stock mkt and is not a Billionaire is a liar and his advice will lose you money. I learned that by following Druge report once....Never again will I do that.

Economists are the biggest joke on the planet.

 

[Thinker101]

It's a game kids, ALL of it. We have no say, we are watchers.

you can always elect Beto!

Yep, and he can cook a burger...kinda.

 

[Deplorable Yankee]

Donald "this is the best economy ever" Trump will not know what hit him, much like the titanic. i call it the DEBTBERG!

i agree with Reagan budget director Stockman 100%

This wont be a repeat of 2007 ...

burn it
burn it all down

 

[kyzr]

The Budget Crisis is coming, and it will hit about 2025 when Medicare is about to go bankrupt. I can't imagine why those DC coxuckers aren't even talking about it??????????????????????

Here are recommendations to cut spending and raise revenue to start paying down the $22T Debt

A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
The Grace Commission - Wikipedia

B. Cut Spending: [CUT $625b a year]
1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
3. Cut Welfare $200b & Medicaid $200b (about half)
4. Cut education $20b (state responsibility)

US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
Current US Defense Spending:
Year Military Veterans Foreign Aid Total Defense
2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion

C. To cover the $900b budget deficit the following taxes need to be raised:
1. Raise the top tax rate about 7% above 2016 levels +$400b
2. Implement a new 3% Fed sales tax +$400b
3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year

D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

1. Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.
The Future of America’s Entitlements: What You Need to Know about the Medicare and Social Security Trustees Reports - AAF

Social Security fixes:
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

2. Medicare will be insolvent in 2026
https://www.forbes.com/sites/howardgleckman/2018/06/06/no-medicare-wont-go-broke-in-2026-yes-it-will-cost-a-lot-more-money/#d2edb707eb1c
The Future of America’s Entitlements: What You Need to Know about the Medicare and Social Security Trustees Reports - AAF

Medicare Fixes:
https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf

 

[Toro]

Stockman has been saying the same thing for 20 years.

#boring
#wrong

 

[Toddsterpatriot]

David Stockman has been predicting calamity for a long time.

There are cracks in the numbers, but it's easy to forecast a recession when you know one is coming eventually.

What's the old saying, "economists have predicted seventeen of the last six recessions".
.

David Stockman has been predicting calamity for a long time.

Does he run a fund?

 

[HenryBHough]

I'm amused that, at well over age 75, I am bombarded with juicy offers to come out of retirement. Major factor is young people aren't interested in the job openings because the "obsolete" field doesn't have a slew of fulltime opportunities. But on a consultant basis? The sky's the limit!
Wonderful what people will pay to make "obsolete" equipment functional once more. Maybe because replacements are priced out of the market?

 

[basquebromance]

What presidents say matter. Words matter

They can make markets rise and fall, they can send people to war, they can, in fact, enliven a nation, they can enrich a nation, they can, in fact, also appeal to the worst damn instincts in human nature.

 

[LeftofLeft]

Donald "this is the best economy ever" Trump will not know what hit him, much like the titanic. i call it the DEBTBERG!

i agree with Reagan budget director Stockman 100%

What will Democrats do in response? You get your wish, you win the Election. You blame Trump.... but for how long? Are you going to be like the last guy and use blame and doom and gloom as a “strategy”? Recessions are cyclical? What is the Liberals’ plan to recover or do they really give a flying fuck?

 

[Claudette]

ROTFLMFAO

 

[badger2]

Stockman is a formidable voice, though right off the bat in his rant we see that he is not balancing his argument by aligning, for example, immigrant labor with coming technologies such as robotics. What contradictions might there be in Stockman's rant?

 

[Remodeling Maidiac]

Donald "this is the best economy ever" Trump will not know what hit him, much like the titanic. i call it the DEBTBERG!

i agree with Reagan budget director Stockman 100%

Ahh, playing the role of uninformed democrat lemming today eh?
What's up for tomorrow's show?

 

[Toddsterpatriot]

Stockman is a formidable voice, though right off the bat in his rant we see that he is not balancing his argument by aligning, for example, immigrant labor with coming technologies such as robotics. What contradictions might there be in Stockman's rant?

Stockman is a formidable voice,

He's a whiney, fear-mongering twat.

 

[kyzr]

Krugman made the same prediction about Trump ruining the US economy, and he has a Nobel prize in economics. He should give it back....
And The Hits Just Kept Coming: The Greatest (False) Predictions Of 2017 | Investor's Business Daily
If you bet against Trump, you lose.

 

[basquebromance]

Trumponomics is replacing enterprise with dependence

 

[basquebromance]

Obamanomics was poisonous in that it made market profits harder to come by and government profits more plentiful. It denigrated the entrepreneur and empowered the lobbyist. It made it harder to do well on your own and made it easier to get by with a little help from your friends in Washington.


The state-led corporatism of President Obama bred business dependency on government, and now President Trump is doing the same.