From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
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Latest News From September 16, 2016 to September 22, 2016:
- The Federal Reserve confronts a possibility it never expected: No exit.
Two years ago, top officials at the Federal Reserve mapped out a strategy for withdrawing the central bank’s unprecedented support for the American economy. The official communiqué was titled “Policy Normalization Principles and Plans,” and it was supposed to serve as a rough outline for the tenure of newly installed Fed Chair Janet L. Yellen. Essentially, it consisted of two basic parts: Raise interest rates and shrink the central bank’s massive balance sheet. - $195 Billion Asset Manager: “The Time Has Come To Leave The Dance Floor”
We find it surprising how, having covered the unprecedented growth in US corporate debt over the past few years, which has more than doubled from $2 trillion at around the time of the financial crisis to approximately $6 trillion currently resulting in a debt/ETBIDA ratio that has never been higher some are still amazed by what is taking place on corporate America's balance sheets. Overnight, one person warning how all this will end is TCW Group's Tad Rivelle, who is the latest to observe that “corporate leverage, which has exceeded levels reached before the 2008 financial crisis, is a sign that investors should start preparing for the end of the credit cycle.” - Dallas Police Pension On Verge Of Collapse As Record Number Of Cops Seek Full Withdrawals
The rampant fraud at the DPFP left the fund over $3BN underfunded and its board of directors with no other option but to seek a $600mm infusion from taxpayers to keep the fund afloat. Even worse, a review of the pension's financials revealed $2.11 of annual benefit payments to members for every $1.00 contributed to the plan by members and taxpayers (mostly taxpayers)…the typical pension ponzi whereby plan administrators borrow from assets reserved to cover future liabilities (which are likely impaired) to cover current claims in full. - “We Haven't Seen This Since The Great Depression” – Gallup CEO Destroys The “Recovery” Lie
I've been reading a lot about a “recovering” economy. It was even trumpeted on Page 1 of The New York Times and Financial Times last week. I don't think it's true. The percentage of Americans who say they are in the middle or upper-middle class has fallen 10 percentage points, from a 61% average between 2000 and 2008 to 51% today. - Bill Blain: What The BOJ Just Did Is “Recipe For Disaster”
Some interesting, and accurate, thoughts in this morning's edition of Bill Blain's “Morning Porridge”, who – despite calling this website a “tabloid” in the past – now agrees with what we have claimed all along for the past 7 years. - US federal debt expanding at fastest rate since the crisis
A few days ago, the federal debt of the United States rather quietly and unceremoniously passed the $19.5 trillion mark. And while that figure may seem absolutely confounding, what’s even more alarming is how rapidly the US government is racking up this debt. In fact, for the 2016 fiscal year that ends in just ten more days, the US government’s debt growth of $1.36 trillion is on track to be the third biggest annual increase ever. The only two years in all of US history that posted higher US debt growth were 2010 and 2011– the peak of the financial crisis. Even more acutely, last month the US federal debt grew by $151.5 billion. - The Biggest Washington Whopper Yet
You can’t find lazier people than in the mainstream financial press, but their exuberant cheerleading about the purported 5.2% gain in the real median household income in 2015 surely was a new high in mendacity. And we are not talking about the junior varsity here: The Washington Post was typical with a headline of superlatives followed by even more exuberance in the text: ‘U.S. household incomes soared in 2015, recording biggest gain in decades………The data represents the clearest evidence to date that the nation’s long, slow and topsy-turvy economic recovery has finally begun to deliver prosperity for wide swaths of workers.' The self-evident fact is that the median household couldn’t have had an after-inflation income gain of 5.2% in 2015. There is not a single data point in the mountains of “incoming” economic data that is consistent with that proposition. Yet nothing in the Post story, or any other mainstream coverage, even hints that the Census Bureau’s whopper isn’t on the level. In the context of what was by all accounts a sputtering economy during 2015, in fact, the Census Bureau unleashed the largest year-over-year gain in recorded history. But not a single reporter smelled a fish. - 10 Must Have Skills For a Collapsed Economy: “Increase Your Ability To Survive”
Sometimes it is astounding to think how vulnerable and prone to collapse society has become. In many ways, there is every chance that civilization could have become vibrant and largely self-sustaining. But that isn’t the direction that the larger system took at all. Instead, it chose a disposable economy, with planned obsolescence and extreme dependence. Individuals, however, can still make that choice. It is possible to enjoy the fruits of modern life, while preparing your family for survival conditions that could strip society down to the bare basics. If you invest in your own pipeline to food, water, fuel, knowledge of nature, DIY skills and the like, you can become highly immune to unstable market conditions and the collapse of civilization. - “Deutsche Bank May Ultimately Need A State Bailout” – Handelsblatt
While the most recent set of troubles plaguing Deutsche Bank have been duly documented here, most recently yesterday when the stock price tumbled once again just shy of all time lows over fears the bank's multi-billion DOJ settlement could severely impact its liquidity and/or solvency, this may be the first time we have heard the “n”-word tossed around in an official German publication: as Germany's top financial newspaper, Handelsblatt said, “German financial officials reacted with shock and dismay to the leaking of a U.S. government demand for a $14 billion fine against Deutsche Bank, which may ultimately need a state bailout to pay the bill.” - Understanding the Root Cause of the Coming Global Reset…
Everywhere you turn today, you hear people talking about a coming “global reset,” or a coming “global economic collapse,” but what does that mean anyway? Is it just people or companies fear mongering for personal profit, or is there something to it? Furthermore, if there is something legitimate to all of it, what should you do? If you don’t know, because you you’re not big on following economics, this post should help explain those issues to you in a simple to understand way. - Trust in mainstream media reaches lowest point in history
Americans’ trust and confidence in the mass media “to report the news fully, accurately and fairly” has dropped to its lowest level in Gallup polling history, with 32% saying they have a great deal or fair amount of trust in the media. This is down eight percentage points from last year. - US ‘War on Terror’ has cost $5 trillion and increased terrorism by 6,500%
On September 11, 2001, one of the most tragic events in recent American history took place. Close to 3,000 civilians lost their lives in horrific terror attacks that took place on American soil. Fifteen years later, it is time to ask the question: have our counterterror efforts helped to reduce the amount of terrorism in the world? Or at the very least, have they tried to make the world safer? According to a report released by Dr. Neta Crawford, professor of political science at Brown University, spending by the United States Departments of Defense, State, Homeland Security, and Veteran Affairs since 9/11 is now close to $5 trillion USD. Before we have the chance to ask how a country that has racked up over $19.3 trillion USD in debt can spend $5 trillion USD on war, the focus of this article is to ask: What has all of this spending achieved? - After 40 Years of Boom, Bust Hits America’s Cowboy Coal Basin
The last bastion of the American coal industry has been breached. The bust that’s devastated Appalachia for five years has finally reached cowboy country’s Powder River Basin. For four decades, the 300-mile corridor stretching from Wyoming north into Montana thrived on the strength of the cleaner low-sulfur coal carved from its vast plains. No more. After producing more than 400 million tons every year since 2004, the region’s output this year will drop by about 100 million tons, analysts say, undercut by cheap natural gas, growing utility use of renewables and new environmental rules. Since last fall, 1,100 workers, or 17 percent of the mining workforce, have lost their jobs, leaving the industry and the economy reeling. - Goldman Sachs Crushes Hopes Of Oil Price Recovery
Goldman Sachs has been extremely pessimistic about the oil market over the last year and a half, and the latest from their head of commodity research, Jeff Currie, is no exception. According to Currie, crude will continue to trade within the US$45-50 band over the next 12 months. Any improvement above US$50 is highly unlikely. The analyst noted that the primary reason for the gloomy forecast is the simple lack of any upside potential for oil at present. He also suggested that the market may have already balanced itself at the current price levels, comparing the overall environment to that in the early 1990s when a barrel of crude sold for US$20. - When Is The Price of Gold Going Up?
Several analysts in favour of gold are predicting a spike to come in the precious metal’s price. They base this prediction on several arguments: – Negative rates: For a long time gold has been put down as “yielding no interest”. It may have been the case before but now that the yield on traditional investment vehicles (savings accounts, life insurance) is plunging toward zero, this argument is no more valid. The amount of sovereign borrowing at negative rates is increasing, thus the situation, likely, isn’t going to improve. – Stock markets at their highest: The levels reached just prior to the 2008 crisis have been surpassed, but there is still no recovery on the horizon. Obama is set to become the first president in the history of the United States under whom there has not been a single year of growth above 3%. Unemployment statistics are being artificially deflated by the number of discouraged people who have stopped looking for work (nearly 100 million Americans of working age are not working). And let’s not talk about Europe and Japan, with their even weaker growth rates. And the “Chinese locomotive” has run out of steam. – Sales of physical gold are robust, to the point where refiners have difficulty catching up. - Gold Is The Ultimate Wealth Preservation Against Reckless Governments
The autumn of 2016 has for some time looked like a period when dark clouds will move in over the world economy. Therefore, it was not surprising to see the first sign of things to come in the next few months. In one day the Dow erased all the gains since early July with an almost 400 point fall. Since the beginning of the year the Dow is now up a pitiful 4%. Almost 8 years of ZERO interest rates have not managed to revive the US economy, nor the world economy. On a longer timeframe the Dow, together with many other markets, looks extremely vulnerable. - Long Term Consequences Of The Oil Price Crash
The World Energy Investment study released by the IEA on September 14 confirmed what analysts have been prophesying for months: the current decline in oil-and-gas investment is the biggest one in half a century. The current bout of low prices has gotten so deep and remained there for so long that capital investment in new projects, and hence new production, has taken a major hit. But in an era of shifting energy policies, surging interest in renewables and uncertainty over the consistency of demand, what does this drop in investment really signify? And what could it mean, over the long term? There are a lot of factors to keep in mind when taking a look at this new report from the global energy watch-dog. - This is How You’ll Bail out Municipal Pension Funds. Check the bills in your mailbox. Happening now in Chicago.
It has gotten so bad that the phrase “Pension Crisis” made it into Wikipedia. It’s the perplexing reality that municipal, state, federal, and corporate pensions in the US and similar schemes around the world are so badly underfunded that it will be impossible to fulfill the promises by a wide margin. By many trillions of dollars. With state and municipal pension funds in the US, the situation is particularly tricky because the beneficiaries are voters and employees of the government, and politicians of all stripes bought their votes with promises of low contributions and rising benefits. They got away with it for decades because no one cares about “underfunded pensions.” Even the term makes people’s eyes glaze over. But someone is going to pay. And it’s not going to be the politicians. - George H.W. Bush to vote for Hillary Clinton
Former President George H.W. Bush is bucking his party's presidential nominee and plans to vote for Hillary Clinton in November, according to a member of another famous political family, the Kennedys. Bush, 92, had intended to stay silent on the White House race between Clinton and Donald Trump, a sign in and of itself of his distaste for the GOP nominee. But his preference for the wife of his own successor, President Bill Clinton, nonetheless became known to a wider audience thanks to Kathleen Hartington Kennedy Townsend, the former Maryland lieutenant governor and daughter of the late Robert F. Kennedy. - Obama Used His Final UN Address To Promote A ‘Liberal World Order’ And A Palestinian State
During Barack Obama’s eighth and final address to the United Nations he let his true colors show. He staunchly defended globalism, he took several not very subtle shots at Donald Trump, and he boldly declared that Israel “cannot permanently occupy and settle Palestinian land”. That statement about “Palestinian land” was extremely alarming to many, because there are indications that Obama may decide to support a UN Security Council resolution that establishes the parameters for a Palestinian state during his final months in the White House. Barack Obama has promised to squeeze every ounce of “change” out of the remainder of his term that he possibly can, and his last UN speech showed what is on his heart at this moment. According to the Washington Post, Obama’s final UN address represented “an impassioned plea on behalf of a liberal world order”… - “We had a lot of Drama in the Markets this Week,” Thanks to the Bank of Japan
Japan has invented QE and zero-interest-rate policies. It conducted umpteen iterations of them over the past two decades. Throughout, it has demonstrated and documented with ample evidence that QE and ZIRP do not stimulate demand in the economy, though they can have all sorts of other effects. Now once again, Japan is out on front. This week, something interesting happened, even by the standards of the NIRP-absurdity currently in vogue. The 10-year yield of Japanese Government Bonds (JGBs) rose sharply. It had been negative ever since the BOJ announced its negative interest rate policy in February and had dropped as low as -0.30% by late July. But on July 28, the BOJ, to show it’s easing further, expanded its QE program by announcing yet another stock market pump-up scheme: it would nearly double its annual purchases of equity ETFs from about ¥3.3 trillion to ¥6 trillion ($60 billion). - Business Cycle Tinder For A Global Banking Fire
This week, Raoul Pal, founder of Real Vision TV and Global Macro Investor, joined the MacroVoices podcast for a full-length feature interview wherein he sweeps through a plethora of convergent global financial issues. In addition to his thoughts on his long U.S. dollar thesis, the recent sell-off in bonds, gold, central bank policy, and soft commodities, Pal explains why the crumbling European banking system, within a slumping global business cycle, is the biggest systemic risk yet. This is an interview you don’t want to miss. The episode starts with a weekly market summary and the interview begins at 13:30, which is summarized below. - Dark Warning from World’s Largest Hedge Fund
With a great crisis comes a significant opportunity, however, and we always want to urge readers to be prudent first in this environment. Hold a significant amount of cash and physical precious metals. Eliminate debt. Long-term investments should focus on cash flow (growing your income).
For speculative positions, use only money you don’t need for up to 3 years and would not harm your family’s finances if you lost it all. Habitually over-deliver in your work, business, or job. Your core source of income must be treated the same as your favorite investment. Keep in mind that most Americans are literally living paycheck to paycheck, so don’t ever submit to peer pressure when it comes to spending. - Obama’s Tax Collections Surpass $20,000,000,000,000; Still Runs Up Debt by $8,878,290,996,028
With the additional $231,327,000,000 in taxes that the U.S. Treasury collected in August, according to the Monthly Treasury Statement released today, President Barack Obama has now presided over more than $20,000,000,000,000 in federal tax collections during the 91 full months he has served in the Oval Office. From February 2009 through August 2016, the Treasury collected approximately $20,197,437,000,000 in tax revenues (in non-inflation-adjusted dollars), according to the Monthly Treasury Statements. During those same 91 months, the federal debt rose from $10,632,005,246,736.97 to $19,510,296,242,765.66—an increase of $8,878,290,996,028.69. - Why The EU Is Doomed
We are accustomed to looking at Europe’s woes in a purely financial context. This is a mistake, because it misses the real reasons why the EU will fail and not survive the next financial crisis. We normally survive financial crises, thanks to the successful actions of central banks as lenders of last resort. However, the origins and construction of both the the euro and the EU itself could ensure the next financial crisis commences in the coming months, and will exceed the capabilities of the ECB to save the system. It should be remembered that the European Union was originally a creation of US post-war foreign policy. The priority was to ensure there was a buffer against the march of Soviet communism, and to that end three elements of the policy towards Europe were established. First, there was the Marshall Plan, which from 1948 provided funds to help rebuild Europe’s infrastructure. This was followed by the establishment of NATO in 1949, which ensured American and British troops had permanent bases in Germany. And lastly, a CIA sponsored organisation, the American Committee on United Europe was established to covertly promote European political union. - Foreign Central Banks Sell A Record $343 Billion In US Treasuries In The Last Year
One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number dropped sharply, declining by over $17 billion, bringing the total to $2.871 trillion, the lowest amount of Treasuries held by foreigners at the Fed since 2012. One month later, we refresh this chart and find that in the latest weekly update, foreign central banks accelerated their liquidation of US paper held in the Fed's custody account, which tumbled by $27.5 billion in the past week, the biggest weekly drop since January 2015, pushing the total amount of custodial paper to $2.83 trillion, the lowest since 2012. - The Obamacare Death Spiral—-Health Exchanges Languish As Insurers Flee
Obamacare appears to be in a death spiral, with a shrinking pool of insurers offering coverage, far fewer individuals purchasing insurance than advocates had anticipated, and double-digit price increases making policies unaffordable — not only to many individuals and families, but to taxpayers, who are required to underwrite the hefty subsidies Washington promised. The law is not working and its condition is getting worse. The centerpiece of the program, the health insurance exchanges (misleadingly labeled “Marketplaces” by the administration), will pretty much cease to exist within a few more years. - Infrastructure Spending Does not “Grow the Economy”
In a new twist, the presidential nominees from both major political parties have fallen for (or hope that the voters have fallen for) a time-worn fallacy, and have proposed government spending on infrastructure “to grow the economy and create jobs.” As David Stockman has shown, infrastructure in the United States is not “crumbling,” nor is spending on infrastructure disappearing. What is equally important to our analysis, though, is the fallacy that government spending, on infrastructure or anything else, creates jobs or economic growth in the aggregate. This fallacy and related myths need to be dispensed with before anyone begins to take them seriously. Murray Rothbard addressed the issue in great detail in his article “The Fallacy of the ‘Public Sector.’” Below I seek to summarize, in simple terms that even Donald Trump and Paul Krugman can understand: there is no such thing as the Infrastructure Fairy that takes government spending and magically turns it into economic growth. - Italy's PM Unloads On Deutsche Bank's Unfixable Problem: “Hundreds And Hundreds Of Billions Of Derivatives”
After a tumultuous week for Deutsche Bank which saw the DOJ demand a $14 billion settlement for the bank's past RMBS transgressions, it was another bad day for the giant German lender, whose stock and contingent converts tumbled after the investing community realized that even a modest $5.5 billion final settlement would leave it perilously undercapitalized and likely scrambling to raise more cash. - Warnings Coming Fast And Thick—–The Red Ponzi Relies On Property Bubbles To Prop Up GDP
Lots of China again today. Most of it based on warnings, coming from the BIS, about the country’s financial shenanigans. I’m getting the feeling we have gotten so used to huge and often unprecedented numbers, viewed against the backdrop of an economy that still seems to remain standing, that many don’t know what to make of this anymore. Ambrose Evans-Pritchard ties the BIS report to Hyman Minsky’s work, which is kind of funny, because our good friend and Minsky adept Steve Keen is the economist who most emphasizes the need to differentiate between public and private debt, in particular because public debt is not a big risk whereas private debt certainly is. And that happens to be the main topic where people seem to get confused about China. To quote Ambrose: “..Outstanding loans have reached $28 trillion, as much as the commercial banking systems of the US and Japan combined. The scale is enough to threaten a worldwide shock if China ever loses control. Corporate debt alone has reached 171pc of GDP..” - Peter Schiff: “We’re Already in a Recession”
Peter Schiff appeared on the Next News Network to give some insights into the possible US war in South China, Hillary Clinton’s recent health problems, international trade, ObamaCare, and quantitative easing. - David Stockman Warns: The Elections Will Bring Pandemonium To Washington and Chaos To The Markets
Donald Trump has made repeated calls to remove Fed chair Janet Yellen from office, saying that she should be ‘ashamed’ of what she’s doing to the country. So what exactly would a Trump presidency mean for the Fed and for the markets? We speak with David Stockman, former Office of Management and Budget Director under Reagan and author of “Trumped! A Nation on The Brink of Ruin and How to Bring it back.” - James Turk – The World Is Headed For A Crisis Far Worse Than 2008
As the world awaits this week’s Fed decision, today James Turk warned King World News that the world is headed for a crisis far worse than 2008. James Turk: “The Federal Reserve’s 2-day monetary policy meeting this week should be an interesting one, Eric, but not because they are going to raise interest rates. Rather, it will be interesting to hear their explanation regarding why they aren’t raising rates… - Greyerz – The Roadmap To A Staggering $10,000 Gold And $1,000 Silver
As we get ready to enter the final quarter of 2016, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, just spoke with King World News about the roadmap to $10,000 gold and $1,000 silver. Egon von Greyerz: “If you look at the euro, it’s not going to survive. At some point European investors will realize that and they will flee the euro into gold. It’s the same with the yen. The Japanese economy has no chance of surviving and so at some point point the Japanese will start buying gold. People in the U.S. will also turn to gold as the dollar starts falling. And there will not be enough gold or silver to satisfy the massive increase in demand. The only way to satisfy demand will be through a higher price. That’s why we will easily see $10,000 gold and $1,000 silver. - Ron Paul: The Fed is Prepping for the Next Crisis
From Ron Paul: The Federal Reserve’s insistence on ever-growing influence in the financial markets is a signal that they’re preparing for the next crisis — and citizens’ rights are bound to be violated. - Deutsche Bank Shares Fall Again; Bank “Significantly Undercapitalized”
Things are going from worse to worst once again for Deutsche Bank AG (NYSE:DB) as equity and credit markets deteriorate further as analysts warn Germany’s biggest (and the world’s most systemically dangerous) bank would be “significantly undercapitalized” even if an eventual settlement with the DoJ can be covered by the bank’s reserves. - China’s Stunning Plan For Gold And A New Monetary System
With many investors worried about the economic turmoil that has engulfed the globe, here is China’s stunning plan for gold and a new monetary system. China’s Plan For Gold & A New Monetary System. Stephen Leeb: “The world is headed to a new monetary system. But most in the West are still valiantly trying to deny that reality. Whether you’re reading The New York Times or Bloomberg News, or delving into recent white papers released by various institutions, you’re sure to find anti-gold propaganda, stories about how oil is plentiful, all the while stalwartly maintaining that the dollar won’t be superseded by the renminbi… - China Now Dumping Unprecedented Amounts Of U.S. Treasuries
Ahead of this week’s Fed decision, China is now dumping unprecedented amounts of U.S. Treasuries. China Dumping U.S. Treasuries. Here is how Peter Boockvar summed up the situation: In case you didn’t see, on Friday at 4pm the Treasury International Capital flow data for July was released and it continues to be a big focus of mine. For a 4th straight month foreigners were net sellers of US notes and bonds. They sold a net $13.1b in July which brings the year to date level of selling to $156b which compares to net selling of $20b in 2015, net buying of $165b in 2014, $41b in 2013 and $400b in both 2011 and 2012. This level of selling is unprecedented going back to when data collection started on this in 1977… - Stock & Bond Bubbles Much Worse Than 1929-David Stockman
Economic expert and best-selling author David Stockman offers a dire view of the deep financial trouble America faces in his new book titled “Trumped!” Stockman warns, “I think we are on the very edge, but what is different this time and makes it scarier . . . is I believe the central banks that ruled the roost have gone from one extreme to the next and done unfathomable things like negative interest rates on $13 trillion of bonds around the world, monetization of the debt, and bond purchases that are staggering such as $90 billion a month in Europe. . . . So, this time, as the phrase goes, they went all in. They have violated every principle of sound money and sustainable finance that mankind has ever learned about over many centuries. They have taken us to the edge, but they are out of dry powder. I think it’s pretty obvious that they can’t go any deeper with subzero interest rates, or negative interest rates. . . . If they tried this in the United States, I think there would be a huge political uprising. . . . They are out of dry powder and out of tools, and therefore, the financial markets of the world are more vulnerable, maybe even more so than in 1929. You are talking about a bond bubble like never before imagined or conceived, and the stock market is the same way as well as derivatives.” - The Bank For International Settlements Warns That A Major Debt Meltdown In China Is Imminent
The pinnacle of the global financial system is warning that conditions are right for a “full-blown banking crisis” in China. Since the last financial crisis, there has been a credit boom in China that is really unprecedented in world history. At this point the total value of all outstanding loans in China has hit a grand total of more than 28 trillion dollars. That is essentially equivalent to the commercial banking systems of the United States and Japan combined. While it is true that government debt is under control in China, corporate debt is now 171 percent of GDP, and it is only a matter of time before that debt bubble horribly bursts. The situation in China has already grown so dire that the Bank for International Settlements is sounding the alarm… - Analyst: Stocks Will Crash by 75% in Coming Years
Société Générale analyst Albert Edwards is famous for his bearish prognostications, but his latest forecast — where he calls for a 75% crash — might be his the gloomiest yet. - 3 Terror Attacks In America In 24 Hours
New York City, New Jersey and Minnesota were all hit by terror attacks within a 24 hour time period, and authorities are concerned that this may be the start of a fresh wave of terrorism in this country. Those that conduct acts of terror do so because they want to create fear and because they want attention. All three of these attacks accomplished those goals, but in particular the bombing in New York City’s thriving Chelsea neighborhood instantly captured the attention of the entire nation. - 10 Things That Every American Should Know About Donald Trump’s Plan To Save The U.S. Economy
Can Donald Trump turn the U.S. economy around? This week Trump unveiled details of his new economic plan, and the mainstream media is having a field day criticizing it. But the truth is that we simply cannot afford to stay on the same path that Barack Obama, Hillary Clinton and the Democrats have us on right now. Millions of jobs are being shipped out of the country, the middle class is dying, poverty is exploding, millions of children in America don’t have enough food, and our reckless spending has created the biggest debt bubble in the history of the planet. Something must be done or else we will continue to steamroll toward economic oblivion. So is Donald Trump the man for the hour? If you would like to read his full economic plan, you can find it on his official campaign website. His plan starts off by pointing out that this has been the weakest “economic recovery” since the Great Depression…
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