Stockman again points to March 15th crisis start date

David Stockman, former Director of the United States Office of Management and Budget under President Ronald Reagan, is repeating a warning he has for the US:

Stockman: Wall St is Misreading Trump – Fiscal Crisis Ahead

March 6, 2017

David Stockman joined CNBC to offer a stark warning for investors that continue to follow Wall Street on a path of misreading Trump’s policies while Washington is headed toward a fiscal bloodbath.

Stockman started out his fiscal warning saying, “I think that Wall Street is totally misreading Washington. It is pricing in a fantasy about a Trump stimulus that simply is not going to happen. There will be no big tax cut, there will be no $15 or $20 a share reduction in the corporate rate. Infrastructure stimulus [isn’t going to happen].”

The host then prompted how Stockman knew this to which he pushed, “we are heading into a debt ceiling trap that will grind the whole system to a halt by June or July. People are forgetting that we’ve been on a debt ceiling holiday. That holiday ends on March 15.”

The CNBC host then posed that this was not a new scenario to Donald Trump. David Stockman then took the point to task noting that, “This is totally new to Donald Trump. He tweeted last weekend that he had reduced the national debt by $12 billion. It is actually up $187 billion in the first 35 days that he has been in office. The cash on the Treasury’s balance sheet, and this is the key point, was $382 billion the day he was sworn in – as of last Friday it hit $178 billion and has bled $200 billion in cash.”

“That’s one fifth of a trillion while he didn’t even have his economic team in place. When they get to March 15 and the debt ceiling freezes at $20 trillion, they’ll have maybe $200 billion of cash. That is being run out at a rate of $3-5 billion a day. By June it will be gone. There is no pathway to a majority in the House or Senate to pass a debt ceiling increase in the trillions in order to make any of this stuff possible.”

The Art of the Deal – Myth vs Fiscal Reality

When asked about whether Trump’s negotiation tactic, The Art of the Deal, is presenting a different way of running the system than before Stockman did not hold back. He pushed, “[Trump might be doing that] But that makes it even more dangerous and reckless. This isn’t an Atlantic City Casino and the junk bond market’s of 1991. This is the big time – this is $20 trillion of debt. This is an environment with a House, Republican majority that doesn’t exist. That’s a delusion. This is an environment of a gang of factions. They’re already beginning to splinter and fracture as a result of the Obamacare plan of “repeal and replace.”

“They won’t even get to tax reform before the debt crisis hits. We will have a government shutdown. It is totally unexpected, unpriced in, as they say by Wall Street. It will spook everybody. Trump is so reckless that this could go on for days, weeks or months in a way that we’ve never seen before. The 2011 with Obama will be a Sunday school picnic compared to what is likely coming down the pike.” https://dailyreckoning.com/stockman-misreading-trump-fiscal-crisis/

I reported some of David Stockman’s views a week ago (see David Stockman: ‘After March 15 Everything Will Grind To A Halt’).

But while I do believe that the debt crisis is a huge problem and that the US stock market is irrationally high, I believe David Stockman is underestimating Donald Trump as well as the entrenched interests that will want to keep the federal government functioning.

Of course, people like Janet Yellen and certain Congressional leaders could attempt to sabotage Donald Trump, and the mainstream media wants Donald Trump out of office.

But the Republicans control Congress and are not above pulling out a variety of legislative options/tricks to accomplish what they want, which for now seems to support Donald Trump.

This does not mean that US stocks may not drop in value, however, There will be ups and downs in the US stock markets until the end comes.

As far as the end goes, the Bible shows that debt will be a major factor in triggering it according to Habakkuk 26-8.

Donald Trump loves debt. Here something he said about it in 2016:

“I’m the king of debt. I love debt.”

There was about $20 trillion of recognized US government debt before Donald Trump took office.

He plans to increase that total. Some think his stated policies will add around $10 trillion to that total. (pp. 36-37)

This does not bode well for the U.S.A.

Nor do the expected debt fights in Congress.

Let me add that the so-called debt reduction deals over the past 8 or so years have not worked.

On August 2, 2011, the US debt was $14,580,704,743,080.97 and on that day then President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis. That did not work to stop the rise of debt.

Remember the sequester? It was also called the American Taxpayer Relief Act of 2012, it was signed by Barack Obama on January 2, 2017 and the total recognized US debt was $16,432,705,914,255.48 that day. This was supposed to be the plan to reduce debt increases back in 2013.

Notice something from back in 2015:

The Congress of the USA seems determined to continue to increase the debt of the USA:

December 18, 2015

Washington — Congress is about to add hundreds of billions of dollars to the national budget deficit, yet the “deficit hawks” on Capitol Hill are largely silent.

“Maybe they should be on the endangered species list,” quipped House minority leader Nancy Pelosi, in a briefing with reporters last Friday.

End-of-year, must-pass monster spending bills are always an ugly business. Both sides say they deplore the practice. But this year’s double whammy – a $1.1 trillion omnibus spending bill and a tax bill expected to cost $780 billion over the next 10 years – is arguably worse. The House passed the tax bill on Thursday, 318 to 109, and takes up the spending bill on Friday. The Senate is expected to pass the measures after they clear the House.

“The deal not only adds to the debt, it also squanders most of the hard-earned savings from either the ‘fiscal cliff’ deal ($800 billion in revenue) or the sequester (more than $900 billion in spending cuts),” said the nonpartisan Committee for a Responsible Federal Budget, in a statement.

Many of the lawmakers who have spoken out in the past for fiscal restraint “are just being silent,” says Maya MacGuineas, CRFB president and a longtime advocate for lower federal deficits. “There is no leadership on the issue.” http://www.csmonitor.com/USA/Politics/2015/1218/Why-deficit-hawks-are-missing-in-action-on-budget-tax-deals …

Very few in the USA realize just how bad all this debt and deficit spending is.

The lifestyle of the USA has been greatly subsidized through debt–Americans have made themselves rich in the past several decades through borrowing directly and indirectly (printing up currency backed up by loans) from others around the world.

The Bible warns about the consequences of what the USA has been doing.

6…’How horrible it will be for the one who makes himself rich with what is not his own and makes himself wealthy on loans. How long will this go on?‘7 Won’t your creditors suddenly rise up and those who are going to shake you wake up? Then you will become their prize.8 You have looted many nations. All the rest of the people will loot you because of the slaughter and violence done to lands, cities, and all their inhabitants. (Habakkuk 2:6-8), God’s Word Translation)

The USA continues to base parts of its wealth on borrowing–borrowing money that it does not intend to pay back. This is wicked (Psalm 37:21) and will not end well for the USA. …

The USA keeps playing this dangerous game of increasing debt, even though some politicians see some of its dangers. The cost the USA will face ultimately will be worse than what would happen by not agreeing to a debt raising bill this month.

(Thiel B. Congress approves additional increases in debt; Rush Limbaugh calls for the Republican party to be disbanded COGwriter, December 18, 2015)

The above was true in 2015 and is true today. The official amount of US debt according to the US Treasury was $19,894,958,569,032.98 last Thursday.

While the end will NOT come in 2017, the debt situation is expected to get worse.

One day it will be a disaster, and one much, much worse than David Stockman is warning about.

Some items of possibly related interest may include:

America’s Day of Reckoning 2017 Dollar Collapse? Economist James Dale Davidson says that a financial bloodbath will hit the USA and there is nothing that Washington can do to stop it. He claims that at least 57 nations have gotten together to dethrone the US dollar as the world’s reserve currency. He claims this can happen any day or in a few months. He mentions China, Russia, the AIIB, and gold. He claims his track record in predicting massive shifts in the past should assure people that he is right about this. He claims that there will be massive unemployment, near elimination of social security benefits, and more. Is James Dale Davidson possibly right on any of this? Dr. Thiel goes over many of his claims and explains what the Bible shows related to the coming collapse of the US dollar. This is a video.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Mexico, Central America, South America, Brazil, and the Caribbean in Prophecy [Español: México, América central, Suramérica, Brasil y el Caribe en la profecía] [Português: México, América Central, Ámérica do Sul, e Brasil na profecia] What will happen to those of Latin America? Will they have prosperity? Will they cooperate with Europe? Will they suffer in the future? What role might the various Caribbean nations/territories play?
Africa: Its Biblical Past and Prophesied Future What does the Bible teach about Africa and its future? Did the early Church reach Africa? Will God call all the Africans?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
When Will the Great Tribulation Begin? 2017, 2018, or 2019? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Will the Great Tribulation Start in 2017?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2024 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Could a Donald Trump presidency be apocalyptic? A related video is titled: Donald: ‘Trump of God’ or Apocalyptic?
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.