Mike Maloney, founder of Goldsilver.com, warns investors that the debt ceiling hysteria that shook the markets in past years is back.
On March 15th the latest suspension of the limit will expire. With Trump at odds with most Democrats and even some of his own Republicans, the opportunity for a vicious budget battle exists.
Mike Maloney explains,
In a recent interview at USA Watchdog we published last week, David Stockman, explains,
“The debt ceiling will freeze in at $20 trillion. It will then be law. It will be a hard stop. The Treasury will have roughly $200 billion in cash. We are burning cash at a $75 billion a month rate. By summer, they will be out of cash.”
Maloney believes there is a recession right around the corner. He notes that this is the third-longest expansion in history.
Finally, Maloney concludes, on the looming debt ceiling and the US stock market,
“That will probably put in the top that I’ve been talking about, the recession will follow, and so will a stock market crash, so strap in and get ready, because there is some opportunity right around the corner.”
Mike Maloney is also the founder of GoldSilver.com (http://tinyurl.com/jlypdzc), which was one of the first websites ever to sell bullion online.
