Many foresee a recession within the next year or two (SEE: Billionaire investor says Fed rate hike is too late to stop U.S. recession in 2016). If a recession were to transpire it would likely lead to a bursting of one or two of several bubbles, including tech stocks or the bond market.
If a bubble were to burst and a serious economic downturn would happen then one specific Republican presidential frontrunner wants it to occur during the final year of President Obama’s tenure.
Speaking at an Iowa rally over the weekend, Donald Trump told supporters that he sees a bubble and that if it explodes then he hopes it takes place now rather than two months into another administration.
“We could be on a bubble and that bubble could crash and it’s not going to be a pretty picture,” said Trump. “The market has gone down big league the last couple of weeks. We could be in a big fat bubble and if that bubble crashes, it’s a problem.”
The billionaire real estate mogul also chastized the Republicans for supporting a $1.1 trillion omnibus spending bill (SEE: Rand Paul says Congress didn’t read $1.1 trillion, 2,200-page spending bill) that garnered support on both sides of the aisle. He said the GOP is supposed to stop the “disaster” of a bill not help prop it up.
“I couldn’t believe that they did it. The Republicans are supposed to stop it,” Trump said. “We’re printing money. We have debt like we’ve never had before.”
Of course, Trump couldn’t help but make fun of former Florida Governor Jeb Bush.
“It was so sad to watch him, so sad, Bush,” Trump said to a laughing crowd. “No, it was just sad. Close to incompetent. You look at that. It was terrible.”
Despite the number of gaffes, media attacks and criticisms from his fellow Republican rivals, Trump is teflon. He is still showing strong support in the polls. Trump is at least 20 points ahead of his closest opponents: Ted Cruz, Marco Rubio and Ben Carson. Bush? He’s polling under five percent.
In a head to head match-up between Clinton and Trump, the former Secretary of State is polling close to seven points ahead of the first-time presidential candidate.
The Congress that stole Christmas. More pork than a Smithfield Foods meat packer. Say good buy to cheap gasoline prices, with the lifting of the oil export ban, big oil will push oil prices higher by creating a shortage in the U.S.
This Congress and President are spending like drunk sailors. But I should not be disparaging sailors, at least sailors spend their own money. This is proof we have the worst government money can buy. When are they going to fix Social Security? The 680 Billion in tax breaks for big business and the rich, over the next ten years could have gone a long way in fixing Social Security.
Dozens of previously temporary tax breaks will now be permanent under the tax segment of the bill, which will cost $680 billion over 10 years and was promoted by corporate lobbyists and low-tax Republicans.
Read more: http://dailycaller.com/2015/12/18/house-passes-1-1-trillion-spending-bill/#ixzz3v17UkVxn
I guess the record corporate profits will continue, while the middle class goes deeper in debt.