Donald Trump has said and done some strange things in his lucrative and storied career. However, his recent slamming indictment of the United States economy is definitely one that many Americans could agree with. Immense debt levels, high unemployment numbers and an inevitable credit downgrade are all ingredients for “financial ruin,” says Trump. Speaking in […]
Archives for August 2014
Foreign investors continue to shed U.S. debt at record pace
Foreign governments and private investors are continuing to slash their holdings of United States debt, which may not bode well for the federal government and the national economy as the country is suffering from the shackles of astronomical debt level and a weak economy. Last month, China and Japan, two of the biggest holders of […]
Week in Review: Aug. 4 – Aug. 10
In case you missed any of this week’s articles, here is a round-up of some of the most read pieces written by the Economic Collapse News staff: Video: Robert Wenzel debates man selling ‘F— Capitalism’ T-shirts David Stockman: U.S. stock market in ‘final stages’ to ‘self-destruction’ (hot) Jim Rogers: Buy gold and oil in war, […]
Federal Reserve: One-quarter of households ‘just getting by’
The Federal Reserve released a snapshot report of how Americans view their personal economic and financial health. The central bank’s survey revealed that one-quarter of households are “just getting by,” a revelation that shows the U.S. economy still isn’t improving and millions of Americans still believe the country is in a recession. Thirteen percent of […]
Larry Summers: U.S. economy hasn’t grown in any ‘financially sustainable way’
This week, the New York Times published a report that highlighted how economic output in the United States is about $800 billion a year lower than it would be if every single sector was churning out impressive numbers. This figure is a big number for a country that is considered to be the economic powerhouse […]