Re item #1.
The USA financial system is based on fiat money which is being inflated continuously. This is a fraud which destroys the ability for people to save or, in other words, for them to grow capital. It wrecks the standard of living of those on fixed incomes, the elderly, the ill, the productive, anyone at all in the economy who is not able to access the newly created fiat immediately it is called into being. It is a scam unleashed upon all save the insiders to it. They milk fantastic benefits for which everyone else is eventually rendered penurious.
An interesting quote from Lord Keynes. “Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.”
As an aside, consider that if creating more and more fiat was such a wonderful, liberating and enriching thing to do, a good for the economy, a good thing for all the people, then why is it that non-state, non-bank actors who do engage in it are labled as counterfeiters, or worse, and are ruthlessly hunted down for the severest retributions & punishment? Their contribution to the creation of new currency is vanishingly tiny in comparison to that which is being undertaken by officially legitimate sources.
So, what is going on with the USA is that its fiat currency is being debauched. This is destroying the capital base, wrecking the well-being of most of the population, eroding productivity and vastly increasing the debt load every US subject must labour under. The yoke tightens and the burden increases. There comes a point when this is unsustainable and then everything unwinds. This is known as a "crack up boom." Following is a brief definition of the term taken from Investopedia (link below).
What is a 'Crack-Up Boom'
A crack-up boom is the crash of the credit and monetary system due to continual credit expansion and price increases that cannot be sustained long-term. Often, banks will attempt to prevent a crack-up boom by halting credit expansion, which ends up backfiring and yielding the same results that the boom would have caused. Both scenarios result in an economic depression when the bubble finally bursts and the economic system crashes.
BREAKING DOWN 'Crack-Up Boom'
When the economy is down, one way to give it a temporary revival is to feed extra money into the system - AKA economic stimulus. Providing people with credit makes them feel richer and more inclined to spend their money, which in turn feeds more money into the system. When people spend money, they tend to want to continue this trend and continue to buy, despite the fact that their extra cash isn't coming from actual savings. The problem comes when the government continuously pours more and more money into the system and the actual economy beneath the false expansion cannot keep up.
Feeding money into the economy is a quick way to give it a short-term boost, but this practice isn't sustainable over the long term. If credit expansion continues without limit, prices continue to rise until they reach the point at which the entire system collapses because it can no longer sustain itself. People can no longer afford the high prices, so credit must expand even more to accommodate these prices, which pushes them even higher.
What Type of Economy Can Be Hit by a Crack-Up Boom?
A crack-up boom is something that can only happen in an economy that relies on paper money rather than the gold standard, or electronic systems of monetary transaction rather than physical. In a gold standard economy, interest rates cap out at around 3 to 6%, since credit is based on actual saved money, instead of being adjustable depending on the circumstances. However, in a system that revolves around paper money, more cash can be printed at any time and introduced into the system. This affects the value of each dollar and affects the prices of market commodities. When the government introduces into the economy money that doesn't really exist (in the form of false credit) it's only a matter of time before the economy is damaged, even if the original intention was to boost it.
Read more: Crack-Up Boom Definition | Investopedia https://www.investopedia.com/terms/c/cr ... z51xkQHwQo
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So, all this is baked right in and was present long before the new President ever came on the political scene. There is nothing much he can do to avoid the looming titanic reset. All he could do is influence to some extent just how destructive of his people it will be.
Now there are a couple of developments which also bode ill for the US economy. The fact that some of the largest energy producers and consumers on the planet have decided to trade petrochemicals without using the US dollar is a major deal. Russia and Iran started doing direct trade, completely by-passing the US dollar. Then came China. They started direct trading with Russia, Iran and others in roubles, yuan etc.- anything except US dollars. Just recently they created a gold backed bond denominated in yuan. It is fully convertible to gold... The Russians have jumped right into this since they can sell energy to the Chinese for yuan and in a two or three step process, convert to gold. This they collect and bunker. Now the nice thing about gold is that governments, central banks etc are unable to inflate its value away. If anything, its buying power is going to increase in a major way compared to fiat currency. What is not to like?
Recently the Chinese started making their preference to trade in yuan very clear to the world. They certainly stress that they do not want to trade in dollars when it comes to energy. Russia has acquiesced. So have other trading partners of China. Obviously the US has not. And so far the Saudis have not either. For the moment the Saudis do not take payment for oil in yuan. The result has been a catastrophic loss of market share in China over recent times. Saudi oil has fallen from 25% of the market to a little under 15% in a matter of a year or so. When the Saudis relent and begin accepting yuan, then it is all on for one and all. For, at that point, no-one, no other country will need to purchase US dollars in order to transact their oil purchases. With a total collapse in demand for US dollars, US dollar denominated financial instruments and US debt (most important that one) then a major contraction in the buying power of the USD is the inevitable result. Debt will become un-repayable and US financial instruments irredeemable. There is a major trigger for the reset.
That would be serious enough, but there are others also vying to be the terminal blow. For example, social security is a classic ponzi scheme. Then there is the growing deficit of the US government (its has grown by 75% since 2015 and continued relentlessly in its rise over the last 6 months- nothing much the President has done about this threat). Worse is the total debt of the US government (including off-book items and unfunded liability) now exceeds US$222-trillion. Unpayable. Unrepayable. Totally impossible to service. Unsustainable. Meanwhile in the private sector, household debt remains huge, student debt remains a growth sector, car finance is huge and unrecoverable bad debts grow exponentially. I could go on but the point is made. The crash is thundering towards us at an accelerating rate. Whichever item or collection of items actually pushes the economy off the cliff and triggers the depression (I really prefer the term "reset") Is hard to tell as there are so many of them. What you can be confident of is that trouble is a-coming. Do not blame the President for all but the tiny wee portion of it he contributed to. The vast majority of it has been in the making for an extremely extended period of time.
Sorry to be the bearer of such bad news at this time of the year.