“It’s going to be financial Armageddon on a scale no living person has ever witnessed before.”
We’re living in the calm before the storm.
That much everyone can sense. The stock market highs and holiday spending spree will soon be over, the inauguration will presumably go as planned, but that’s when everything could start to go off course.
The only question is how the storm is going to stir into a frenzy – there will be a pretext of some kind. What seems certain is that it is past time to get ready for a difficult period. This could be the big, slow squeeze and the long winter.
The economy became immune to stimulus and quantitative easing; the market can only be propped up so long, and the realities of raised interest rates a matter of timing for the Fed to decide. Now, President-elect Trump provides the catalyst necessary for a dramatic rise and fall in the economy.
With the force of the economic avalanche that is poised to fall upon us all, the policies and actions of President Trump will do little to stem the tide of what is already coming; for better or worse, there is little that Trump himself can do even though it may fall squarely on his administration.
There are many putting out the talking points now; the warnings are reaching a crescendo.
Jay L. Zagorsky, Economist and Research Scientist at Ohio State University, is predicting a recession for 2017, in spite of glowing outlooks, that could dominate headlines:
My outlook for 2017 and beyond is that the U.S. economy will likely see another recession.
It could be a sudden trigger like the collapse of Lehman Brothers in late 2008 or just a general loss of confidence.