Record-Breaking U.S. Economy Has A Massive Recession Deficit – Here’s Why

Record-Breaking U.S. Economy Has A Massive Recession Deficit – Here’s Why
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Is the economy really as robust as it seems while the budget deficit balloons at recession levels? | Source: AFP/ Spencer Platt A soaring U.S. budget deficit is proof the economy is not well, the chief global strategist of a major investment broker warned this week. He predicted the Great Recession in multiple cable news appearances from 2006 – 2007 when others were wildly bullish. Even if all is well, for now, wild deficit growth during economic expansion leaves less room for fiscal stimulus if a recession does strike. The U.S. economy is aiming to extend into the eleventh year. Markets see plenty of reasons to be hopeful it’s not over yet. and . Bright Q4 corporate earnings and trade war detente with China . So why is the U.S. budget deficit growing at recession levels? Peter Schiff, CEO and chief global strategist for Euro Pacific Capital, said Monday it’s proof the economy is not as strong as it seems in the Trump era. Source: Twitter Wednesday morning in no uncertain terms: A sovereign debt and dollar crisis now looms larger than ever. Here’s why markets should heed his words carefully. Peter Schiff Predicted The 2007 Market Crash The last time Peter Schiff was this certain about a market crash, the U.S. entered the worst downturn since the Great Depression. | Photo: Gage Skidmore (CC BY 3.0 US) Peter Schiff is notorious for never having anything nice to say about the economy. ( or foreign stocks and bonds.) So […]

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