The Coming Economic Crash — And How to Stop It, by Elizabeth Warren

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    • #89650
      Spud Demon
      Participant
      • Total Posts: 139

      This is pretty alarming, especially the last paragraph.  Thankfully she does offer solutions (which align pretty well with Bernie’s proposals; I think they would make a great team).

      Manufacturing recession.  Despite Trump’s promises of a manufacturing “renaissance,” the country is now in a manufacturing recession. The Federal Reserve just reported that the manufacturing sector had a second straight quarter of decline, falling below Wall Street’s expectations. And for the first time ever, the average hourly wage for manufacturing workers has dropped below the national average.

      The country’s economic foundation is fragile. A single shock could bring it all down. And the Trump Administration’s reckless behavior is increasing the odds of just such a shock.

      The administration may breach the debt ceiling in September, leading to economic turmoil that top economists say would be “more catastrophic” than the collapse of Lehman Brothers in 2008. Trump’s trade war with China threatens American manufacturing and has already hurt American companies that investors think of as “industry bellwethers,” while feedingan all-time economic slowdown in China that could have dramatic ripple effects on the American economy. And Trump is goading the U.K. toward a no-deal Brexit, which even his own administration acknowledges would have “immediate and significant spillover effects” to our economy.

      The financial markets agree that there is a serious risk of downturn in the near future. The U.S. Treasury yield curve — a barometer for market confidence — normally slopes upwards because investors demand higher yields for bonds with longer maturities. But this March, it inverted for the first time since 2007, signaling that investors are so worried that things are going to get worse that they’d rather lock in lower rates for the future today than risk long-term rates going even lower. The curve has inverted<em class=”ia”>before each and every recession in the past half century — with only one false signal.

      https://medium.com/@teamwarren/the-coming-economic-crash-and-how-to-stop-it-355703da148b

    • #89673
      Enthusiast
      Participant
      • Total Posts: 5,151

      I think Elizabeth is far too wishy washy in regard to Medicare for All and accepting corporate cash during the general election.

      I would like to remind you that U.S. health insurance companies do not contribute anything to health care. They are only a PARASITIC middle man receiving an undeserved cut of "FREE MONEY".

      Me

    • #89740
      mmonk
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      • Total Posts: 907

      Debt ceilings are artificial constructs.

      Fear not the path of Truth for the lack of People walking on it. - RFK

    • #89760
      doh1304
      Participant
      • Total Posts: 1,787

      Warren’s analysis reeks of “common assumption”, which assumes that you have to preserve the status quo regardless of the consequences.  But the status quo is unsustainable – and that is good, because the status quo is racing to see which comes first, will it bankrupt and starve us before it roasts us to death?

      The Debt Ceiling bugaboo? It’s a self imposed crisis imposed by the austerians to justify assaults on the poor. The debt crisis? Just replace Nancy Pelosi. China? What does China do to or for the American economy? It provides cheap goods so that our capitalists do not have to do it themselves. American capitalists don’t want to make tvs in America any more? Make them. Don’t want to make their own parts any more? Make them. The American consumer can’t afford to buy American? Pay us better – and make us consume less, (and produce less trash and pollution)

      American capitalism is a death machine, don’t preserve it, don’t revitalize it The sooner we get rid of it the better… well at least the less worse – the fewer will die from its death throes. Give American manufacturing what it needs to continue using foreign cheap labor so that it doesn’t have to pay American workers? The car is driving off a cliff, let’s clean the fuel injectors, that’ll fix it!

    • #89781
      RealityRedux
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      • Total Posts: 663

      A single shock could bring it all down. And the Trump Administration’s reckless behavior is increasing the odds of just such a shock.

      The administration may breach the debt ceiling in September, leading to economic turmoil that top economists say would be “more catastrophic” than the collapse of Lehman Brothers in 2008

       

      Sadly by the time our next president reaches office in 2021, our economic woes will more than likely be far too deep to repair in our lifetimes. I know that younger generations wishes to believe differently but because the greedy selfish has collectively screwed the planet pooch for so long that lasting manmade disasters are on course for the long run. We’ve not seen anything yet.

      However, it pretty much appears to me that this may become a two person race coming down home stretch on the Democratic side ….. Biden v Warren. For those who can’t dream of a Trump second term, I wonder which one that many here would vote for between the two. You know, given that Biden is the deep corporate establishment candidate. Bernie won’t count in this presidential race either because he’s once again on the outside of the Democrat box looking in like what happened in ’16. Also, some say that Bernie supporters will more than likely gravitate to Warren rather than to Biden.

       

       

       

      Formally RealityCheck

      • #89794
        mmonk
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        • Total Posts: 907

        I won’t vote for any Democrats that is obsessed about deficits or debt. Their ideology is around Republican Party supply side economics and austerity. It’s horse  hockey.

        Fear not the path of Truth for the lack of People walking on it. - RFK

      • #89906
        Cold Mountain Trail
        Participant
        • Total Posts: 12,932

        Debt ceiling is fake, constructed by austerians as other have already noted.  No need for ‘turmoil’ just raise the ceiling as has been done repeatedly over the years.

        If the Pubs want to fight, fight them & get them out of office instead of sucking up to them & working with them to hurt average people.

        How much did you get paid for the breast implant work, lizzie borden? nice feminism there.

      • #90285
        djean111
        Participant
        • Total Posts: 6,995

        @realityredux

        Bernie supporter here – I won’t support Warren OR Biden.  Biden – obvious reasons.  Warren – she is a Capitalist who loves the markets and will perpetuate the markets’ death grip.  And also – a hawk.  Anyone who thinks it is very important to refurbish 100+ military installations or whatever, around the world, is not my candidate.  Write-in or Green, and I would write in Bernie if my primary choices by the time the fixed and rigged bullshit gets to Florida are Biden or Warren and other corporate Dems.  I will not be “gravitating”.

        America is not a country, it's just a business. (Brad Pitt, Killing Them Softly)

        Everything I post is just my opinion, and, honestly, I would love to be wrong.

        "black flag" is an inadvertent mash-up of black ops and false flag. . I think it is accurate, and I will keep it. Thanks to those who pointed it out!

    • #89847
      sadoldgirl
      Participant
      • Total Posts: 1,510

      Warren does not predict anything that a lot of

      economists have not done before her. The fact

      that she claims to be a “happy capitalist” tells

      me though that she does not see what has brought

      the country to the present disaster. She also

      changes her tunes ever so carefully that she

      reminds me a lot of Obama. Thanks, but no thanks.

    • #89951
      djean111
      Participant
      • Total Posts: 6,995

      It is those MARKETS that you love so very much that are responsible.    All those other factors are actually in service to The Markets.  And I cannot help thinking that the only thing you are really worried about – is The Markets.

      America is not a country, it's just a business. (Brad Pitt, Killing Them Softly)

      Everything I post is just my opinion, and, honestly, I would love to be wrong.

      "black flag" is an inadvertent mash-up of black ops and false flag. . I think it is accurate, and I will keep it. Thanks to those who pointed it out!

    • #90086
      Electrolyte Orchestra
      Participant
      • Total Posts: 397

      This reads like a sophomore’s PolySci/econ paper – long on ‘should’, short on ‘how’. Unlike sophomores, she is an actual legislator whose had the ability to at least introduce bills to do what she says – the how.

      She ‘should’ know that ‘the markets’ have been tilting the playing field for decades. They have lobbied successfully to water down the meager consumer protections and reforms she helped pass.

      I believe she has held the same fundamental beliefs her whole adult life, it’s simply the political pendulum that moved around her. She was a happy Reagan republican who wasn’t on board with the rightward lurch in the 90s. The corpodems then aligned with her previous held beliefs and she switched. Now her same positions are considered progressive.

       

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