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Trump’s ‘massive recession’ forecast stumps economists
WASHINGTON – Donald Trump’s prediction that the U.S. economy was on the verge of a “very massive recession” hit a wall of skepticism on Sunday from economists who questioned the Republican presidential front-runner’s calculations.
As with all forms of gambling, derivatives trading carries a certain amount of risk.
The scary part is that we are all exposed to the enormous derivative risks that the biggest U.S. banks have become entangled in, despite assurances to the contrary:
“Overall, the biggest U.S. banks collectively have more than 247 trillion dollars of exposure to derivatives contracts. That is an amount of money that is more than 13 times the size of the U.S. national debt, and it is a ticking time bomb that could set off financial Armageddon at any moment. Globally, the notional value of all outstanding derivatives contracts is a staggering 552.9 trillion dollars according to the Bank for International Settlements. The bankers assure us that these financial instruments are far less risky than they sound, and that they have spread the risk around enough so that there is no way they could bring the entire system down.”
originally posted by: xuenchen
I wonder if anyone doubts this just because it's Trump saying it?
The 2008 "crisis" was a derivative collapse remember, and all we heard before the fall was good news.
originally posted by: bandersnatch
Doom porn my arse.........the derivatives bubble is a world wide shakey situation...Deutche Bank is heavily exposed to the damn things....The chances of the bubble s popping are excellent.....
The US dollar is an artificial construct with no value now....
It remains to show the emperor has NO CLOTHES...and the walls will tumble quickly.....
Alas Babylon.....overnight thy wealth is destroyed....
originally posted by: xuenchen
I wonder if anyone doubts this just because it's Trump saying it?