“During 2019 prices will rise because Trump’s tax cut party must be paid for. An annual deficit of over $1 trillion and rising, placed alongside previous deficits, means the government must go to the market and borrow with both hands. This raises the price of money. Interest rates go up, squeezing out borrowers like homebuilders and retailers which need capital, causing layoffs. The stock market falls as well. I expect a crash in many sectors that have been rising very soon. This will take even more capital out of the market.”
“Renewable energy is now the cheap energy. Trumpistan is going to be crushed between the twin grinding stones of Wall Street, demanding profits, and technology, cutting costs.”
“I can’t tell you where the next crisis will occur. I’m guessing England. But I do know this. What technology needs to grow is freedom, trained minds that can build wealth with the tools which technology has brought them.”
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