-
TO LISTEN GO TO
https://alternativevisions.podbean.com/e/2nd-quarter-us-gdp-collapses-june-rebound-fading/
-
SHOW ANNOUNCEMENT
Dr. Rasmus dissects the just released data for US economy’s 2nd quarter GDP stats, confirming his March prediction of W-shape recovery, no V-shape and no 2nd half recovery. The 4 myths are discussed: Fast recovery in second half 2020; US economy was strong in 2019; consumer households were doing great in 2019 and will bounce back again in 3Q20 if the economy reopens; Congress’s March 2020 Cares Act is sufficient stimulus for sustained recovery. (i.e. Republicans’ message there’s no need to rush to another massive stimulus bill). The two great ‘wild cards’ that could throw the US economy into depression in 2021: Trump’s generated political-constitutional crisis around Nov. elections + financial instability in 2021 as business and household defaults deepen.
Absolutely right about the V shaped recovery, the claimed good performance of the economy in 2019, and the lack of need of any real fiscal stimulus: dangerous lies. Watch how the elites behave not what they say. The upper 5% or so gave themselves $11 trillion because they know the collapse is coming. But that is the number, $11 Trillion, and the upper 5% know it. Spread it over say three years and that plus the normal 20% is the 40% of fiscal spending that is needed which is what Dr. Rasmus has been saying all along. Without that 40% tens of millions more will lack adequate food, housing, health care. And Trump will viciously exploit all that misery. Biden, the invisible politician, will do nothing.