JPMorgan Sounds Alarm On Size Of US Debt, Warns Of Financial Crisis

 

After yesterday Goldman mocked Trump’s budget (ironic as it was Trump’s ex-Goldman Chief Economic Advisor who conceived it) and said it had zero chance of being implemented, today it was JPM’s turn to share some purely philosophical thoughts on the shape of future US income and spending, which as we learned yesterday could balance only if the US grows for 10 years at a 3% growth rate, something it has never done, while slashing nearly $4 trillion in in spending, something else it has never done.

What caught our attention in the note by JPM’s Jesse Edgerton was his discussion on the thorniest issue surrounding the US: its unprecedented debt addition, what America’s debt/GDP will look like over the next 30 years, and whether there is any chance it could decline as conservatives in government hope will happen. Continue reading

Future Americans Will Ask: Why Didn’t Congress Impeach Obama When It Could?

How will future generations look back on our gravest national emergency of all time? And how will they regard what their forebears didn’t do about it?

This will include what we didn’t do about border nullification, which collapsed the U.S. as a sovereign nation. What we didn’t do about the alignment of our foreign policy with that of jihad movements, which meant the end of liberty, also life itself, for our best allies. What we didn’t do about the growth of tyranny from corruption and Marxism in this cradle of liberty.

Most of our progeny – and certainly those millions descended from the Latin American (and other) populations President Obama invited to invade the former United States – will never ask such questions. But some Americans – those who will throw off their burqas and speak English in the privacy of their caves – will be aghast at the paralysis of their ancestors who lost all. Continue reading