The Road to Recovery: Global Epocalypse Inevitable According to Trump’s Chief and World’s Largest Failing Bank
By David Haggith
TheGreatRecession.info
November 24, 2016
he financial end of the world in economic apocalypse is here. A funny thing happened on the road to recovery: Trump’s chief strategist admitted his view of the Trumpian future looks like the Great Depression. Even the world’s largest bank just said global financial default is the preferable way out and most likely way out of the Great Recession that began in 2007/2008. That’s the new optimism. You don’t get better than all of that for an exhilarating view of the imminent future. As Maya MacGuineas, the leader of the Committee for a Responsible Federal Budget, also assessed the situation,
“President-elect Trump is going to be inheriting the worst fiscal situation of any president… other than President Truman … as judged by the debt relative to the economy.” (The Washington Post)
Trump’s solution for that problem requires that we enormously increase that debt and hope to power through. That puts him in a no-win scenario unless he can jack the economy up faster than he jacks up the debt; but we are already seeing the likelihood of that fall apart before the plan begins, as I’ll explain. That Trump’s plan will increase the debt is not just something his critics are claiming but is also something his own chief strategist, Stephen Bannon, admits to from the outset of this journey into oblivion:
“With negative interest rates throughout the world, it’s the greatest opportunity to rebuild everything,” Bannon said. “Shipyards, ironworks, get them all jacked up. We’re just going to throw it up against the wall and see if it sticks. It will be as exciting as the 1930s, greater than the Reagan revolution.” (The Washington Post)
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