The Redneck was’t wrong in December, 2016, when I wrote, “Hang onto your hats, 2016 appears to be rocky.”  However, all for the wrong reasons.  8 months ago I didn’t know we would have over 20 mass killings around the world, or China’s central bank would devalue the Chinese currency, or the EU’s central bank would send European bonds to negative yields, or Great Britain would vote to leave the European Union.   I also did not see that Donald Trump would win the Republican Party’s Presidential nomination.  Back then, everyone knew Hillary Clinton would be the Democratic Party nominee.

Today, the unknown is what either of these two nominees will do or get done if elected President of the United States.   All a redneck has at his or her disposal to make an informed guess, and that is what it will be my friends, “a guess” about what will happen to our well being and financial status over the next four to eight years.   Things are changing fast.   We must keep our eyes and ears open and do what we think is right to protect ourselves and our families.

If you read any financial magazines or newspapers or listen to talk radio or watch the financial cable TV programs, you have heard that the world central banks, including our Federal Reserve Bank, have done about all they can do to revive the world economy.  Interest rates are at zero or lower around the world.  Published inflation percentages are at zero to two percent.  (We all know that is wrong when we try to buy a loaf of beard or a gallon of milk.)  The government reports and the politicians report the median household income of Americas is down $4 to $5 thousand dollars over the last 8 years.

The Committee for a Responsible Federal Budget, created by President Obama in 2009, to evaluate and report on what action the United States needed to take to restore the country to financially sound footing.  It reported to the President and to Congress with a written report to balance the Federal Budget and to reduce the country’s debt.  Most of the recommendations of the Committee have been ignored.  The non-partisan Committee continues to work and inform the public regarding the status of the national budget and spending.   It projects the future of the nation’s debt.   It has recently issued a report comparing the platforms and programs of the two current Presidential candidates.   It is worth reading and I have included a link to the CRFB website and the report for your reading.

Here is it:  http://www.crfb.org/blogs/how-much-would-clinton-and-trump-increase-our-19-trillion-gross-debt