Dawn J. Bennett, host of Financial Myth Busting, recently wrote an article titled, “The Problem With Great Expectations. In her article, she discusses the many problems left over from the Obama Administration that President Donald Trump is now up against.
According to Bennett, the narrative carefully crafted by the executive branch and the media would have us believing that Trump has inherited a strong economy. The truth is Obama’s eight years in office have left us with massive debt, weak global demand, and a financial bubble that’s about to burst. And, despite their claims, the economy is not on the ascendant.
“Trump is being set up to fail by the financial elites, the globalists that have been running the Obama administration’s economic policy and the Federal Reserve,” Bennett says. “Our Humpty-Dumpty economy is bound for a great fall, regardless of the current President’s best intentions, and the most deeply important question of the next four years is who is going to be putting the pieces back together, and how they do it.”
Trump has talked about “draining the swamp,” and Bennett says there are four economic swamps that must be drained. These four swamps stand in the way between us and full recovery. These swamps are:
- Our massive and uncontrolled national debt
- Our hidden fiscal gap
- Short-term debt maturity
- Suppressed double-digit inflation that’s on its way
Bennett is not the only financial expert to have these views. For instance, economist James Dale Davidson, who predicted the financial collapses in 1999 and 2007, recently said a 50% collapse isn’t just looming, it’s on our doorstep. Mark Faber, publisher of Gloom Boom Doom, said 2017 is the year that we’ll see the U.S. economy cause a world collapse and that Trump will not be able to stop a dollar crisis, stock market crash, or rise in gold and silver prices.
Due to the problematic state we are in, Bennett says, “This is not the time to stay complacent and start humming ‘Happy Days Are Here Again’. It is, instead, time to gird your loins and make tough choices about how to protect your hard-earned wealth. Look at cash and precious metals, look for ways to preserve what you have during what seems certain to be a very rocky 2017 and beyond.”