Regarding the Article: The Vox: Elizabeth Warren Sees "Serious Warning Signs" of an Economic Crash
Friends the amount of debt that is owed by the United States and the continuing outrageous deficit spending made worse by the tax cuts for the wealthy are leading the United States to the edge of an
economic crash. The lack of fiscal responsibility weakens America at home and in the world economy. As they say, what goes up must come down. Prosperity without an adjustment is not possible. That adjustment can be in the form of slowing down the economy year to year or in the form of a crash of our economic system after decades of no adjustments mainly in the form of deficit spending. The Trump program of bad fiscal policy and over turning restraints on the rich and their corporations and the financial manipulation by the big banks has set the economy on a rapid positive trajectory but it will come at a cost of a recession or worse a depression. It is not a matter of if, it is a matter of when the crash will come. The economies of the world are very well monitored now with the huge capacity of computers to allow monetary manipulation on all levels by the rich. And their gambling and high finance puts the average person who does not have assets to play the investment games of the rich in jeopardy. It is the people in the bottom 80% of the economic pyramid who will ultimately pay the price for miscalculations and outright manipulation of the economy for greed by the rich.
The rich have to pay their fair share of taxes and the economy has to be controlled such that we do not crash and burn in a depression. That means a balanced budget. A balanced budget Is mandatory for American strength and stability. The economics of overspending apply to every family as well as to the entire American economy. You cannot spend what you don’t have forever into the future.
The solution is easy, if you want to spend you have to tax the rich more to pay the bill. You cannot reduce taxes and increase spending. That is a simple foundational reality of economics that applies to everyone. At this point in time the rich are doing very well. We have to now increase the taxes on these people and corporations who these people own in order to balance the budget and step back from the brink of financial disaster.
Dr John WorldPeace JD
190718
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