Stephanie Pomboy on Charles Payne reiterated a number concerns that I've posted here in the past. Her key points:
I also heard the word "fragile" on the show. I heard the economy is being nudged by a half dozen really bad things even as it stands right on the edge of a cliff. Liquidity is drying up but prices are not coming down.
It will be interesting to see if we don't go over the cliff before the election. As I've also written, the economy will become a hot potato for whoever is president at the time of the collapse.
- Since the beginning of the pandemic we spent about 10 trillion dollars to get 600 billion dollars in REAL economic growth. This is not "investment." It represents horrific waste. It's a sign of MASSIVE economic weakness.
- The rest of the globe has seen the writing on the wall since the Great Financial Crisis. They have been ditching our bonds and are unlikely to reverse this trend given our spending. Why would you pay for another country's military and social programs? You wouldn't. Americans must finance spending one way or another, leading to lower living standards.
- Failure to be able to finance public debt is not the problem (they have a printing press). Households and businesses, on the other hand, are screwed. Both are now being squeezed by inflation, or alternatively, squeezed by lower pay relative to inflation.
I also heard the word "fragile" on the show. I heard the economy is being nudged by a half dozen really bad things even as it stands right on the edge of a cliff. Liquidity is drying up but prices are not coming down.
It will be interesting to see if we don't go over the cliff before the election. As I've also written, the economy will become a hot potato for whoever is president at the time of the collapse.
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