Financial Mayhem in America Could Lead to Social Mayhem
We already know that the liberals are going bonkers over POTUS Trump. Many of them have said that they need to do anything and everything to get him out of power. They claim to be terrified that he has his finger on the nuclear launch button and could accidentally nuke the world while reaching for a bag of Cheetos some day.
So yes, USA is on edge.
But could there be a trigger right around the corner that actually sets people off? What would it take for protests to turn into violent protests? What could it take for Americans to start hitting each other? What would it take for Governors to have to roll out the National Guard?
How about if we threw in a financial meltdown and had the banks close, major corporations go belly up and had the Food Stamps program go unfunded while the US Gov't hunts for more money?
Most Americans have no clue, but on March 15 USA will meet a HARD STOP for the debt ceiling...and it could get really ugly really fast.
Stockman: "After March 15 Everything Will Grind To A Halt"
Two weeks after David Stockman warned that "the market is apparently pricing in a huge Trump stimulus. But if you just look at the real world out there, the only thing that's going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S. history" and exclaimed that, when looking at markets, "what's going on today is complete insanity" he is back with another interview, this time with Greg Hunter of USAWatchdog in which he, once again warns, that a giant fiscal bloodbatch is coming soon, and urges listeners to pay especially close attention to the March 15, 2017 debt ceiling deadling, at which point everything could "grind to a halt."
As Greg Hunter writes, former Reagan Administration White House Budget Director David Stockman says financial pain is a mathematical certainty. Stockman explains, “I think we are likely to have more of a fiscal bloodbath rather than fiscal stimulus. Unfortunately for Donald Trump, not only did the public vote the establishment out, they left on his doorstep the inheritance of 30 years of debt build-up and a fiscal policy that’s been really reckless in the extreme. People would like to think he’s the second coming of Ronald Reagan and we are going to have morning in America. Unfortunately, I don’t think it looks that promising because Trump is inheriting a mess that pales into insignificance what we had to deal with in January of 1981 when I joined the Reagan White House as Budget Director.”
So, can the Trump bump in the stock market keep going? Stockman, who wrote a book titled “Trumped” predicting a Trump victory in 2016, says, “I don’t think there is a snowball’s chance in the hot place that’s going to happen. This is delusional. This is the greatest suckers’ rally of all time. It is based on pure hopium and not any analysis at all as what it will take to push through a big tax cut. Donald Trump is in a trap. Today the debt is $20 trillion. It’s 106% of GDP. . . .Trump is inheriting a built-in deficit of $10 trillion over the next decade under current policies that are built in. Yet, he wants more defense spending, not less. He wants drastic sweeping tax cuts for corporations and individuals. He wants to spend more money on border security and law enforcement. He’s going to do more for the veterans. He wants this big trillion dollar infrastructure program. You put all that together and it’s madness. It doesn’t even begin to add up, and it won’t happen when you are struggling with the $10 trillion of debt that’s coming down the pike and the $20 trillion that’s already on the books.”
Then, Stockman drops this bomb and says:
“I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion. It will then be law. It will be a hard stop. The Treasury will have roughly $200 billion in cash. We are burning cash at a $75 billion a month rate. By summer, they will be out of cash. Then we will be in the mother of all debt ceiling crises. Everything will grind to a halt. I think we will have a government shutdown. There will not be Obama Care repeal and replace. There will be no tax cut. There will be no infrastructure stimulus. There will be just one giant fiscal bloodbath over a debt ceiling that has to be increased and no one wants to vote for.”
Stockman also predicts very positive price moves for gold and silver as a result of the coming budget calamity.
I believe we have already forgotten how scary the days of 2008 were. Back then our local newspaper was FULL of home foreclosures, gas prices went to $4.25, business couldn't meet payroll and were instantly shut down and their people laid off, home prices were upside down and some of the biggest investment firms in the world went belly up.
So what will happen in America if that same panic-uncertainty were to reappear a month from now?
Can you see where the liberals will BLAME TRUMP? Can you see how they will demand that their free food, free welfare, free education and free health care continue being paid to them regardless of the financial mismanagement that lead to the creation of those promises?
For those of us who follow Christ we need to understand just how temporary this entire system actually is. We hope it doesn't all vaporize before our eyes....but we shouldn't be surprised if it does.
Furthermore we followers of Christ should not put all our faith and confidence in governments and/or financial systems because both of them always fail.