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Even though Trump has criticized the rising rates, the Fed turned the tables on him, saying his policies aren’t much better.
America could have chosen another path, but it didn’t.
The month of October has historically been the worst month by far for the U.S. stock market, and it has also been the month when our most famous stock market crashes have taken place.
Those of us who support real free trade must not let supporters of the USMCA get away with claiming the USMCA has anything to do with free trade. We must also fight the forces of protectionism that are threatening to start a destructive trade war. Also, we must work to stop the government from trying to control our economic activities through regulations, taxes, and (most importantly) control of the currency through central banking and legal tender laws.
There is no possible way that our debt bubble can continue to grow much faster than the overall economy indefinitely. In fact, we have already been defying the laws of economics for way too long.
The Retail Apocalypse Picks Up Speed: Sears, JCPenney, Brookstone & Mattress Firm Spiral Toward Bankruptcy
Things are not getting better for the U.S. economy. We continue to see numbers that we have not seen since the last recession, and it appears that things will continue to deteriorate as we head into 2019.
Right now, the only way that we can achieve economic growth is by growing debt at a far faster pace than the overall economy is expanding. That is a recipe for a long-term disaster, and everyone knows that we are in the process of committing national suicide, but nobody is really doing anything to stop it.
At the end of this road is not just economic collapse. What we are talking about is literally the end of the United States of America.
For a long time many of us have been telling you to keep a close eye on Italy, and now a day of reckoning for that very troubled nation is here.
New Vehicle Sales “Collapse” And Pending Home Sales “Plunge” As America’s Economic Slowdown Accelerates
Even without any extenuating circumstances, the truth is that we are way overdue for a recession. But when you throw in political chaos, exploding debt levels, an emerging market currency crisis and a trade war between the two largest economies on the entire planet, you definitely have a recipe for a perfect storm.