David Morgan is a renowned precious metals expert and author of The Morgan Report. He starts this interview “Will Trump’s Tax Plan Trigger Economic Crisis” by first talking about trading in the precious metals markets. David feels that silver was not confirming gold. We are going to get some sort of retrenchment. The probability is that it will come down.
The dollar is rising and the price of gold is rising at the same time which is unusual but not cause for panic The rise of the stock price is based n a false paradigm
Will Trump’s Dollar Tax Plan Trigger Economic Crisis? Trump’s tax plan is proposing reducing corporate tax rate to 15%. We are seeing the stock market rise on what it perceives as good news. But what does this mean for the economy? With the current government obligations to its citizens and the government spending habits the deficit will explode and grow tremendously.The only way the government will be able to deal with this is by printing money.
The original idea of the debt limit was to force the government to live within it’s means. If we were in an honest system that would mean if there was an imbalance either the government would have to raise taxes to bring in more money or reduce expenses by cutting benefits to bring the budget back into balance. But our politicians don’t want to do either. Each time they come to the edge they just kick the can down the road by raising the debt ceiling. It’s like you or I raising our credit card limit so we can spend more money and get into greater debt. It doesn’t solve any problems it just kicks the can down the road for later generations to solve. I heard a good description of Trumps’s Tax Plan by a speaker at Kitco’s live streaming of the Mines and Money conference. Trump’s Tax Plan shifts the burden to the yet unborn while giving the money to the rich and useless.
The tax cut will not be a boon to companies since things are so distorted.
When asked about the tensions on the Korean peninsula and the chances of War. David say that he believes there is an economic basis for all these tensions and war talk is economic. When things get untenable the way out is something that is disruptive to all the population. For most governments that means war or conflict.
There are more chances of war as the economy deteriorates. It has often been said that when you get down to the root cause all wars are banker’s wars.
Although many of these trends are depressing how can you thrive and survive?
Focus on what you can control. Focus on those closest to you – your family, friends, the things that give your life value and purpose.
Financial preparation of course is very important. But honoring yourself and what is important to you – your family, friends and service to others is just as important
The government and rich sucks from the labor force of the world. But even that is not enough to feed the beast. Year after year they build up unsustainable debt.
David’s Latest book Second Chance: How to Make and Keep Big Money from the Coming Gold and Silver Shock-Wave tells you how to profit from the coming rise in precious metals prices. But even more importantly David gives you strategies to use so you don’t end up giving all of your gains up.
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