Titanic was called the Ship of Dreams, and it was. It really was.
From Trump's State of the Union:
"There has never been a better time to start living the American Dream. So to every citizen watching at home tonight — no matter where you have been, or where you've come from — this is your time. If you work hard, if you believe in yourself, if you believe in America, then you can dream anything, you can be anything, and together, we can achieve absolutely anything."
Dream big and you can achieve absolutely anything. People are getting rich, and, as the old saying goes: "You've got to dance while the music's still playing."
But have you ever heard Trump talk about the truth of this chart?
Obama took the national debt accumulated by all presidents before him combined (!), and nearly doubled it. He accumulated the same debt, in just 8 years, as all presidents before him accumulated combined!
And what do you expect Trump will do? The U.S. budget deficit is widening on increased spending and tax cuts for large U.S. companies.
I don't know how long the music will keep playing, but I do know that you can't keep increasing the debt ceilings forever. Any company with a debt and a deficit like the U.S. would be declared bankrupt. The main difference between a company and a government is that they can turn on their money printing press. The U.S. government can print new (digital) dollars to buy their own debt. This has saved them from the iceberg in 2008, but what will happen when the next recession hits?
Will they turn on their money printing press again? What if the inflation rate starts to soar too much? New money will flood to the banks and their stock prices may rise even more.
The economy may be booming, but how about our society?
If Bill Gates walks into a bar, on average, everybody in the bar is a millionaire...
