Billionaire Tells Americans to Prepare For 'Financial Ruin' (Trump)

Moneynews ^ | June 30, 2014 | Newsmax Wires

[driftdiver]

The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

He goes on to point out that the downgrade of U.S. debt is inevitable.

“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”

[driftdiver]

Yes its Trump

[FlingWingFlyer]

The Kenyan, Louie Gutierrez and Miss Piggy Pelosi believe all of these freeloading invaders are OUR responsibility. Not their own government’s responsibility. Not the UN’s responsibility. The US taxpayers’ responsibility! Somebody needs to “wiz quiz” these clowns. They all act like they’re on drugs. The people in this country need to wise up. America is just about finished and their greedy little asses allowed it to happen. I wonder if the freeloading, low information voters have a Plan B when America finally goes under.

[driftdiver]

The article also quotes the guy who predicted the housing collapse. He thinks Trump is optimistic.

[Grams A]

Kiddos today are growing up in an entirely different world. On occasion after I have shared a story from my past with him, my teenage grandson responds with “How weird”. We miss what we had. No one but God can undo what has been done.

I often wonder if maybe each generations desire to leave “more” for their children than they had was such a good idea after all.

[OneWingedShark]

CWII Spark — Financial Ruin would do it.

[Citizen Zed]

$17,632,606,234,365.92 as of yesterday according to the Fed.

[Williams]

I’m sorry to be pessimistic but you can’t possibly leave them better off as far as America goes. We are broke and not producing wealth, yet we are spending more and more as if people are “entitled”to it. And we are weakening our defenses.

America faces economic collapse and a devastating war. All preventable except our politicians and many of our people are now pure scum.

Other than that things will be ok.

[Kartographer]

Preppers’ PING!!

Hat tip to driftdiver for the heads up!

[familyop]

Popular bumper sticker in the recent past:

“We’re Spending our Kids Inheritance”

[driftdiver]

Well I don’t think Trump is a billionaire either so I figured it was like horseshoes.

[muir_redwoods]

Just think, in twenty more years we could be sneaking into Mexico.

[VerySadAmerican]

I agree. But, I have kids. But they’re idiots so I’m not concerned. They made their choices. And their kids will pay for their parents’ stupidity.

[Revel]

Saw this on Drudge earlier. The problem is that links to news max all end up with a message that says “Whoops – We Can’t Find This Page.” So that kind of throws some cold water on this story.

[3D-JOY]

I have one just graduated from college, no job prospects, her dad is unemployed again after a 2 year search from the last layoff, and Mom has 3 part time jobs...they are losing everything!

One is a senior in high school, another starting middle school...

I can not imagine their lives...or even the next few of mine that might be left.

[driftdiver]

It worked for me so I posted it. Its a newsmax story but the link goes to moneynews.

[nathanbedford]

It seems to me that one has different responsibilities, different fiduciary obligations, when one speaks as a financial analyst as opposed to an armchair political pundit. As an analyst, I would venture that there is still money to be made in the current environment which is primarily created by the Fed. As an armchair political pundit, I rage against the leftist policies done by both parties but especially by Obama which have put the country in such peril.

I am outraged that Obama has succeeded with crony capitalism in distorting the American economy while convincing the American people that he is a populist and got reelected doing it. I am outraged that he has trivialized $17 trillion in debt and caused it to be disregarded by the bulk of the people and certainly a majority of the electorate. As a pundit I believe he favored Goldman Sachs and destroyed Main Street; as an analyst I believe the music will probably continue to play until sometime after he leaves office.

We are being defrauded into a calamity. Our institutions, such as our media, responsible to protect us from such a calamity fail to reveal the fraud because of race and progressivism. When the reckoning comes, the electorate will be no better informed as a result than they are today. The solution for failed socialism therefore will be more socialism.

[Ciexyz]

I’ve heard both parties saying since at least the mid-eighties that there’s no need to pare down the national debt, it would just derail the economy. If you argued otherwise, you were an alarmist. Now I don’t give a damn, nobody listens to the voice of reason. The younger folks want free tuition, want the govt to pay off their student loans, want to tax the shale industry to death because relentless TV commercials from the Dems tell them to vote that way, so as more jobs leave our state, let the people suffer with the world they built.

[3D-JOY]

I have one just graduated from college, no job prospects, her dad is unemployed again after a 2 year search from the last layoff, and Mom has 3 part time jobs...they are losing everything!

One is a senior in high school, another starting middle school...

I can not imagine their lives...or even the next few of mine that might be left.

[4Liberty]

Bump

[yorkiemom]

I thought Trump was low by over a billion. Not good for someone giving financial advice.