President Donald Trump broke with the Republicans who have been overtly and covertly blocking him to get a short-term debt deal done. Some of the money is going to help the victims of Hurricane Harvey, but there is also a push to get the so-called debt ceiling repealed. Some in the GOP are furious, but this is the game of politics we find in Washington.
Why is President Trump in such a hurry to get a debt deal done even for a short three months? What does he seeing coming that the rest of do not see. Will it be the devastation coming for Hurricane Irma that looks like it will crush Florida? Is it the bills stacking up from Hurricane Harvey that one Texas Congressman says the total loss will be $1 trillion? Will Irma also cost $1 trillion in total damages? Are we going to strike North Korea? Is there a plan for wider war? The fact is there is a lot going on behind the scenes, and I find it odd that Trump jumped on a debt deal and got very little for it according to some.
So, if we do repeal the debt ceiling, that many call a farce because we keep raising it, what will be the downside? Look no further than the dollar which is selling off on the global stage. What’s the upside? Look at gold since January and it’s up and up big. That means inflation is coming right along with the deflation that is also coming, according to Charles Nenner. So, prepare for inflation in prices for things you need and deflation or debt destruction. Gregory Mannarino, founder of TradersChoice.net, says the Fed is stuck and it will explode it’s balance sheet as it is forced to buy everything.
Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.