Earlier this week on Monday, Democratic presidential candidate Elizabeth Warren warns that she sees signs that the United States economy is about to face a major economic disaster in the next year two. He claims that there are many warning lights that are flashing and that the chance of a downturn is ‘growing.’
Warren currently serves as a US senator and is one of the top candidates in an extremely crowded Democrat field. While she is looking to challenge Pres. Trump in the 2020 election, she’s calling on Congress to do something immediately to fix the problem. Of course, one might ask what anyone can do when she’s the only one seeing the signs.
Economists are saying the complete opposite. There’s no sign of recession. While there are a few factors, like a trade war with China, that is impacting the economy, our economy has never been better in its entire history. More people have jobs now than ever before. Yet, Warren says that Congress must act “before another crisis costs America’s families their homes, jobs and savings.”
The stock market is currently hitting all-time highs, the economy has been expanding for a record 10 years, unemployment is at its lowest point in our history, inflation is low and wages are rising. Yet, despite all of this, Warren is warning of major signs that something major is brewing.
Just Political Fodder?
Considering there’s no evidence of Warren’s charge, it looks to be nothing more than an attempt by Democrat to downplay the great economy. Pres. Trump is currently getting most of the credit for regulation cuts and tax cuts that do seem to be working to stimulate the strongest economy we’ve ever had.
Maybe Warren does have a little bit of Nostradamus in her. She claimed back in 2008 that she had issued many warnings about the impending economic crash that turned into a severe recession. She claims that no one heeded her warnings then and most likely will not listen to them now. “The people in power wouldn’t listen,” Warren said.
The economy is always one of the top major issues that come into play during an election cycle. It’s extremely difficult for Democrats to explain away the great economy. Instead, they’re resorting to fear tactics to counter any positive thoughts about how well we’re currently doing. That doesn’t mean we should dismiss Warren’s comments out of hand.
Any economy is fragile. All it takes is one event to change the course of history. Bubbles burst and rates rise. We should all be prepared at all times for the worst to happen. So while Warren’s words right now have no merit, at least she’s getting us thinking about the future.
