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Finance U: Our Economic Future Hangs in the Balance

Paul and I discuss a few of the major economic topics that were evaded and avoided during the Trump-Harris debate. We deserve a discussion and some answers because of the gravity of the situation.

The User's Profile Chris Martenson September 12, 2024
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Bluntly speaking, Trump whiffed during the debate by failing to clearly distinguish between what he plans to do economically as president and what Biden/Harris have been doing the last four years.

For example, auto insurance is up 53% over the past four years.

Source: https://x.com/zerohedge/status/1833851469503615231

We deserve to hear why each candidate thinks this happened, whether it’s appropriate, and what they plan to do about it.

And health insurance is a complete disaster for American families with the average health insurance premium rising from $6k per year in 1999 to $24k in 2023:

Source: https://x.com/charliebilello/status/1833345166586814774

Meanwhile, full-time jobs have fallen by a whopping 1.5 million since June 2023 and, to make the situation even grimmer, non-native born workers have gained more than 100% of all the jobs ‘created’ over the past four years.

Source: https://x.com/i/bookmarks/1832083031886004439

These sorts of data seem like proper fuel for a debate.  Voters should get to choose between which sort of a country they want to live in.  One which preferentially favors migrants or one which favors the people who built it and made it an attractive place to live.

Another point of distinction might be between being in a perpetual state of war vs. being at peace and using the savings to re-build America for the benefit of Americans.

Ever since Nobel Peace Prize Obama took office the very best performing stock areas to be in were health care insurance companies and military stocks:

Source: https://x.com/KobeissiLetter/status/1831743617096151268

If you’ll note, that chart has a definite wiggle down for defense stocks during the Trump administration…he simply wasn’t starting any new wars and that was hurting the stocks of the merchants of death.

Having a strong actual defense is one thing, but purposely starting conflicts to sell military hardware is another.

Finally, nobody asked and nobody discussed what the plan is, from either party, for dealing with an out-of-control spending and US government debt spree that is destined to end badly.  If the next administration is not planning on constructively dealing with it, and plans on handing it to a future administration, then we should know that.

There’s a huge difference between the candidate’s proposed economic and military policies and I wish those were the subject of discussion during the debate.  Instead, we got fluff and meaningless ‘gotchas!”

I truly believe our economic future hangs in the balance.

Let’s discuss this.

 

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