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PostFacing Impeachment, Will Trump Pay Attention to the Economy? (Tor Guimaraes, USA, 10/02/19 2:29 pm)
John Eipper asked me, "Do you think the sky will fall this fall [recession]? With the political uncertainty in the US, together with the traditional role of October as the bringer of hard times, might it be soon?"
A brilliant economist once said that markets can remain irrational longer than you can remain solvent. It is wise to accept such wisdom. I have no idea when the next crash will occur. I only know that, as I said earlier, people who think our economy is doing well don't understand that without the Fed pumping increasing amounts of money into the banking system, the economy would have collapsed by now. That is not sustainable and soon everything will crash. I also know that given what they are doing with much of the free money (risky speculating), the more they pump the bigger the crash will be.
Future crashes have no dates. I was guessing that Trump will bully the Fed into more free money at least until he got re-elected. Now he is getting impeached instead. Trumpsters in the Senate possibly won't dethrone him but he can't win the next election. So now I am guessing the next President will face the crash.
JE comments: Tor Guimaraes reminds me: it's time to add "US Elections 2020" to the WAIS menu. Check out our lengthy discussions for '08, '12, and '16 (waisworld.org). Someday historians will thank us for our insight. Sadly, this cycle we'll have to go it alone without Randy Black asking the hard questions. I miss Randy every day.