Charles Hugh Smith – Debt Rising Faster Than Income
Can team Trump keep the economy going until after the 2020 election? Journalist and book author Charles Hugh Smith says, “I think you are pushing a little bit on a string to get a 10 year long expansion to stretch out to 12 years. It’s like you are pushing sand uphill at some point. . . . Inflation is roaring in assets. Housing is unaffordable in many areas, and the stock market is at nosebleed levels. So, it’s kind of hard to say we are going to get another two years of growth, but I don’t think anybody can say it can’t happen. What we can say is debt levels are rising at a much faster rate than earned income. That’s where you are going to get a reset at some point. As costs go up and debt levels go up, then lowering interest rates gives you a little leeway, but only for awhile.”
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