Debt, Taxes and Economic Cracks? | The Schaftlein Report Ep. 29

1) Consumers owe Credit card companies $1.05T.  The U.S. government is $34T in Debt.

Are we headed for a 'Death Spiral'? What causes a break?

2) Certain voices are calling for tax increases (former Treasury Sec. Robert Rubin).

What about actual spending CUTS?  With divided government in an election year, neither spending cuts or tax increases are even on the table.

Vermont is considering a Wealth Tax.

3) S & P 500 at record high with certain technology stocks maintaining sky high price to earnings multiples.

On the day record high was achieved, more stocks were in the red than in the green.  1987 was the last time that happened.  We'll analyze.

3a) Are $2T government deficits contributing to the stock valuations?

4) Overall price levels remain high with no sign of reduction.  CPI at 3% but car insurance is up 26%. Middle income and low income consumers are getting crushed.

Rents have also remained high.  Gas prices have come down, but will a wider middle east conflict cause them to go up?  Politics at play?

5) Trump leading Biden by 5 points in latest NBC poll but way upon the economy and border security, which are the top 2 issues.

6) $118B Border, Ukraine, Israel aid bill in big trouble.

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