If Trump completes the damage on Dodd Frank we will have another Great Recession but likely much worse than this because I don't see Trump actually caring what happens to the U.S. and the world enough to be responsible like Bush and Obama were in protecting the American people from another Great Depression.
First of all, if you study what actually happened starting around 2005 or 2006, the causes of the Great Recession were many times worse than the actual Great Depression which happened mostly caused by ignorance of the financial dynamics affecting that many people worldwide by President Hoover.
So, the likelihood of Trump causing the same thing or worse I believe is at about 90% if he stays in office very long because Hoover was the last CEO president with not governmental experience like Trump and because of this caused the Great Depression all by himself being stupid and ignorant about government like Trump also is. OF course the Republican party then and now was AND IS COMPLICIT.
As a result of the Great Depression that killed thousands or even millions here in the U.S. through starvation and suicide, the President and Congress IN 1933 enacted:
- The Glass–Steagall legislation describes four provisions of the U.S. Banking Act of 1933 separating commercial and investment banking. The article 1933 ...
- Established in 1933 and repealed in 1999, the Glass-Steagall Act had good intentions but mixed results.
- News about the the Glass-Steagall Act. Commentary and archival information about the Glass-Steagall Act of 1933 from The New York Times.
- What was the 'Glass-Steagall Act' An act the U.S. Congress passed in 1933 as the Banking Act, which prohibited commercial banks from participating in the investment ...
- For a partly dismantled piece of financial legislation dating to the Great Depression, the Glass-Steagall Act remains strikingly relevant today.It might be important to study exactly what this legislation did because it protected the U.S. from having another Great Depression from 1933 until the Great Recession from around 2006 until 2010 or 2012.What happened to the Glass STeagle Act?What happened was that the greediest people in the U.S. (the richest 1%) had Reagan and Clinton and Bush I and Bush II repeal and get rid of all the provisions that protected the U.S. and world from another Great Depression.By doing this, when Obama came in it was a nightmare of epic proportions for him to deal with.Trump is basically full of shit when he says the U.S. was a mess when he took it over because the U.S. was 10 to 100 times more a mess when Obama took it over because the whole nation was about to go down the toilet into something 10 to 25 times worse than the Great Depression.
AND RESEARCHERS FOUND OUT THAT THE CAUSES OF THE GREAT RECESSION WERE MANY TIMES WORSE THAN WHAT CAUSED THE GREAT DEPRESSION.
This is one reason why the recovery has been so very very weak.However, Obama and a few others saved the country from a complete disaster.However, the problems causing the Great Recession have not been addressed 1/10th as well as they should have been by the Dodd Frank act.So, as Trump completely ends Dodd Frank you can expect something 100 times worse than the Great Depression or Great Recession to happen here in the U.S. and around the world.Also, these types of events usually create wars where millions of people die too.However, because of nuclear weapons it might look different with only about 5 billion people starving to death on earth instead over 20 years time. Or it could look like terrorists stealing food like they are in Somalia where 20 million people are dying right now this year, (only this would be a worldwide event with terrorists doing this almost everywhere resulting in 1/2 of the population of earth dying of starvation or being killed by warrior robotic devices and drones if they fight back.This may be what we are looking at by 2025 to 2030 right now and getting worse throughout the rest of this century in many or most nations already.So, if Trump triggers a World Wide Great Depression, just like Reagan, Clinton, and the two Bushes did trigger the Great Recession by getting rid of Glass Steagle in pieces between 1980 and 2005 then this might be what will happen to the world by 2025 to 2030 and so on where half of mankind is offed in terrible ways if they didn't starve to death first.So, preventing this is in all our best interests on Earth by any means necessary at this point.By God's Grace
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