Are we there yet? (America certainly is.)
The question is, will America take the rest of the world with it into another "Great Depression".
Its quite possible. But there is light for other countries in the gloom for the American economy.. Right now, if Trump continues down his current path, the really rich will make out handsomely, taking their loot off shore and creating a nice slush fund to invest in other countries.. This will help soften the blow to those other nations, while asset stripping America itself.. Then the vultures will settle and look for ways to recover the maybe $40 trillion in debt owed. So there will be a series of yard sales of assets. Military hardware, corporations. Real estate (expect the Russians to show up for that one.) Anyone want to buy a slightly used Brooklyn bridge? But no matter what, the damage Trump has already done has condemned America to a decade or three of real economic pain as the trade genie has left the building and the reserve currency magic spell is broken.. Americas customers from everything from wheat to aircraft have gone shopping elsewhere and see America as a bad trading partner now.. And they wont be back.. So now Americans are going to learn the hard way what living beyond your means does to a greedy economy.. I hate to say it, but "I Told You So" 😷
https://www.abc.net.au/news/2025-07-01/trump-fed-powell-power-struggle-financial-crisis/105479344
Its quite possible. But there is light for other countries in the gloom for the American economy.. Right now, if Trump continues down his current path, the really rich will make out handsomely, taking their loot off shore and creating a nice slush fund to invest in other countries.. This will help soften the blow to those other nations, while asset stripping America itself.. Then the vultures will settle and look for ways to recover the maybe $40 trillion in debt owed. So there will be a series of yard sales of assets. Military hardware, corporations. Real estate (expect the Russians to show up for that one.) Anyone want to buy a slightly used Brooklyn bridge? But no matter what, the damage Trump has already done has condemned America to a decade or three of real economic pain as the trade genie has left the building and the reserve currency magic spell is broken.. Americas customers from everything from wheat to aircraft have gone shopping elsewhere and see America as a bad trading partner now.. And they wont be back.. So now Americans are going to learn the hard way what living beyond your means does to a greedy economy.. I hate to say it, but "I Told You So" 😷
https://www.abc.net.au/news/2025-07-01/trump-fed-powell-power-struggle-financial-crisis/105479344
70-79, M
