Trump has started a "Boom and Bust" policy - for immediate gratification by artificially jacking up the Economy with massive debt - and then lead to a bust in the Economy.
Trump is not managing and governing US Economy.
Trump is playing with US Economy - with no regard to its future consequences - which is dangerous - that will not only impact US but the World Economy. American voters are really committing kamikaze.
President Donald Trump on Monday (Feb 12) unveiled an ambitious proposal to renew American infrastructure as part of a budget that calls for a stunning rise in debt and trillions in cuts to social and other spending. The blueprint for the 2019 fiscal year abandons the long-held Republican goal of balancing the federal budget within a decade, with deficits projected to peak in 2020.
But the spending plan is sure to raise the hackles of deficit hawks in Congress who will question how the government can justify such ambitious projects amid yawning revenue shortfalls. Investment bank JPMorgan said on Monday that Trump's deficit was expected to surge to 5.4 per cent of GDP in the 2019 fiscal year, the highest ever without a recession, and surpassed only by the deficit reached during the global financial crisis.
The plan is based on estimates the US economy will expand at a three per cent annual clip for the next six years, a growth rate many economists say is unrealistic, even given the short-term bump from the massive tax cuts approved in December.
Speaking on the Senate floor, he said it would be best for Congress to hash out spending levels on their own and "ignore" the president. Trump "should have no illusions about his budget becoming law," Schumer said. "It won't become law."
Posted on:- 02 Dec 2017 03:25PM (Updated: 02 Dec 2017 04:40PM)
Ricky Lim · Singapore Trump budget still pass with narrow 51 vs 49 votes in Senate which will add 1 more trillion debt to its current debt of $20 trillion.
The cyclic boom and bust global phenomenon that has been absent for 10 years has again return.
This is not a piece of good news.
It means US is borrowing money $1 trillion from internal and external creditors and give it to Trump 500 business empire, big US enterprises like facebook, apple, google, microsoft, etc as tax rebate.
US future generations will have to pay $21 trillion debt plus few hundred billions of debt interest to internal and external creditors like China, Japan, Saudi etc.
This is how Greece declare bankrupt a few years ago.
If US bankrupt, does IMF have $21 trillion to bail out US?
The answer is no.
Will US billionaires and US enterprises like Trump, Bill Gates, Warren, apple, facebook etc sell off their assets to bail out US?
The answer is no.
US in 1930s trigger the 1st World Depression and to resolve the economic crisis - lead to WW2.
What will happen if US declare bankrupt?
World will experience an economic crisis liken a simultaneous nuclear fallout.
Trump is restarting and triggering an unprecedented Boom and Bust economic vicious cycle. Like · Reply · Just now · Edited
Ricky Lim · Singapore Obama understand this threat and its mammoth consequences.
It took 10 years, 十年的心血啊 to 止血。He succeeded to stop and roll back the yoyo economic boom and bust.
The World did not experience economic recession and financial crisis for a good 10 years - but a slow and steady sustainable growth.
This is not 偶然— but deliberate prudent economic planning to recover from the last sub-prime financial crisis.
And it work with military precision. Just like how Greece recover from bankruptcy.
Just 1 night, Trump dismantle everything overnight and again unleash a big economic demon despite knowing the consequences. Like · Reply · Just now
Ricky Lim · Singapore Posted on :- Sunday, April 13, 2014
Ricky Lim · Singapore
EU Europe prudent financial policies such as balanced fiscal budget – ensuring spending within the means, keeping welfare spending affordable and other prudent Economic Policy – though has caused some short term and medium term pain – but has bring back sound financial and economic policies – that will prevent the World Economy from riding on yo-yo effects – “wild economic fluctuations”.
The World Economy for these few years look less turbulence.
However, the next phase will be to generate more jobs by encouraging business investment and business activities to sustain growth and trade.
US should slowly and surely follow Europe sustainable financial model to ensure balanced fiscal budget – and further stabilise and ensure sustainable World Economic Growth with stable & sustainable Financial Policies by spending within the means & arresting the yearly mammoth fiscal budget deficit slowly but surely – but not doing drastic changes that cause turbulence to the World Financial Market.
If US also succeeded like EU, the World Economic Growth – will say bye bye to the yo-yo effects – of Economy boom and bane every other few years – that cause turbulence to the World Economy. Posted by Babe at 3:45 AM
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