Chomsky; Trump will collapse economy

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Chomsky: Trump Driving US to Another Economic Crash




A surge in Wall Street stocks after Donald Trump’s election and a billionaire-packed cabinet will lead to a 2008-like economic crisis.


The United States is heading toward another large economic crash as President Donald Trump packs his cabinet with billionaires and former executives in Wall Street, renowned political scientist and linguist Noam Chomsky said in a recent interview.In an interview with AlterNet, Chomsky pointed to the staggering number of Wall Street chiefs who have been appointed in his cabinet. "Anti-establishment is kind of a joke," Chomsky concluded. "Take a look at Trump and take a look at who's appointed for the cabinet."
He pointed to Treasury Secretary Steve Mnuchin who "comes from Goldman Sachs, a major investment firm where he was for almost 20 years."
As a result, Wall Street has been cheering for Trump and his administration, Chomsky argued. “As soon as Trump was elected, and since, stock values in financial institutions escalated to the sky.”
Stocks like pharmaceuticals, banks and prisons have all soared under the promise of tax reform and less regulation.

http://www.telesurtv.net/english/ne...-to-Another-Economic-Crash-20170315-0045.html
 
anatta said:
all Alternet all the time ...
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Well, Chomsky IS a genius, and he's probably right. I've been reading that the market is due for a major correction for months now (I'm by no means a market expert, but it's alarming that there seems to be a general consensus on this).

And Trump's cabinet IS the establishment. It really is funny that people think otherwise.
 
Thing1 said:
Well, Chomsky IS a genius, and he's probably right. I've been reading that the market is due for a major correction for months now (I'm by no means a market expert, but it's alarming that there seems to be a general consensus on this).

And Trump's cabinet IS the establishment. It really is funny that people think otherwise.
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The Fed is made up of a bunch of Economists with PhD's from the best universities in our country and look how bad they have f'd up.
 
Thing1 said:
Well, Chomsky IS a genius, and he's probably right. I've been reading that the market is due for a major correction for months now (I'm by no means a market expert, but it's alarming that there seems to be a general consensus on this).

And Trump's cabinet IS the establishment. It really is funny that people think otherwise.
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if there is a montrous correction,it's normal after the YUGE increase. But it's not going to happen.

This isn't all speculative gains like w/the housing market.
I like Chomsky for who he is, but he's not qualified on this
 
anatta said:
if there is a montrous correction,it's normal after the YUGE increase. But it's not going to happen.

This isn't all speculative gains like w/the housing market.
I like Chomsky for who he is, but he's not qualified on this
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OH MY GOD!

You think you know better than Chomsky?

Facepunch for when a facepalm just isn't enough.
 
so uhm aside from naming wall street chomsky hasnt said what will cause a crash.

Is it CC debt? Student loan? (i can see both of this happening) something else?
 
Thing1 said:
Well, Chomsky IS a genius, and he's probably right. I've been reading that the market is due for a major correction for months now (I'm by no means a market expert, but it's alarming that there seems to be a general consensus on this).

And Trump's cabinet IS the establishment. It really is funny that people think otherwise.
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He promised to empty the swamp... What he neglected to mention was that he was gonna refill it w his own billionaire boys..
 
Bill said:
He promised to empty the swamp... What he neglected to mention was that he was gonna refill it w his own billionaire boys..
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oh please..that is soo passe'
How about rich millionaire Dems? Those are the good swamp monsters
 
anatta said:
oh please..that is soo passe'
How about rich millionaire Dems? Those are the good swamp monsters
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When did Dems use "drain the swamp" for their campaign?

Give me a break, anatta. Trump's admin is basically Goldman Sachs. To say it's not the establishment is embarrassing.
 
Thing1 said:
When did Dems use "drain the swamp" for their campaign?

Give me a break, anatta. Trump's admin is basically Goldman Sachs. To say it's not the establishment is embarrassing.
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of course it's rich guys -but the proof of the pudding is in the governing ( if we ever get around to that).

Confiscatory taxes,and whacked out deductions impede GDP growth -why we've been circling around
@ 2% for years.
I think you go with a rising tide lifts all boats, instead of finding new ways to cut up the shrinking pie..

but we'll see ( again if the bullshit ever stops and governing breaks out)
 
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