Earlier this moth, the US Treasury Department said that the federal budget deficit was $779 Billion USD in FY 2018 which was up $113 Billion USD (A 17% Increase) from the previous year and the highest level since 2012.
The government took in a record $3.32 TrillionUSD in taxes (Tell me again Pres. Trump about how you love small government) - $14 Billion USD more than in 2017, but spending significantly exceeded the increased taxes by more than $127 Billion. On top of all of this, President Trump and our "just looking out for the little guy" Congress to increase spending by around $300 Billion USD in 2018 and 2019.
Our Debt is growing again by almost record numbers and this is given the fact that US Unemployment is at 45 year lows. As reported today on Zerohedge.com Here. There are currently only 1.636 million Americans currently receiving jobless benefits from the US government. That is the lowest number since October 1973 and we are running record deficits!
So what happens when we fianlly get the correction that is way, way overdue? What happens when tax receipts go down, the unemployment rate goes back up to just average? What happens when goverment spending and entitlements continue on autopilot and grow every year and deficits explode to $1.5 - $3.0+ trillion a year? Its not going to be pretty...
But hey, Telsla just blew it out of the park so Bull-Market on!!!
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Telsla just bought them one more day. The prop ups are not working as well as they once did. I see a heavy, real Heavy corection before year end. Just my thoughts sir!
I hear ya there Hammer! I'm happy lots of people are working, but the stock market is not the economy and I think corrections are a healthy part of the business cycle but people want the easy route and just want moar!
I’m getting the feeling we’re about to find out what happens when an unstoppable force collides with an immovable object!
☠️💥💣💥☠️
Pretty much sums it up brother!
I think it's going look more like what happens when you drive a Silver/Gold train through a burning pile of $1 bills.
Total Mad Maz style!!! 😎👍
Very good information sir 👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌