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“Armstrong currently warns that rising interest rates will cause closure of some mining companies.”
Comment:
Mr. Copper thinks rising interest rates will cause closure of some real estate businesses, maybe some banks with bad r/e loans and some retail stores, and new car dealerships. Plus the US gov’t would have to pay lot more money on debt.
The primary problem these days is tax PAYER employment wages lagged inflation for 45 years, while pubic tax ABSORBING employees wages, and free benefits and early retirements surpassed inflation. Add gov’t vendors are also tax ABSORBERS.
Then there are millions of small privately owned businesses that have many many tax deductions, and some under report income. Many corporate employee tax PAYERS actually can’t afford to pay taxes.
The SHOULD call the income tax an “EMPLOYEE tax”, because they are the only ones really paying the most in taxes and medical insurance. Even most of the medical employees hospitals Drs labs etc are sucking Medicaid and Medicare taxes.
Even accountants are supported by gov’t because complex tax returns. Auto repair businesses are supported by gov’t with environmental laws, check engine lights etc. System is way out of line, and Armstrong should know better and be saying different things regarding problems.
Trump is better than Armstrong. Importing people and exporting jobs is a hopeless situation. Importing too much and exporting too little is hopeless. Armstrong is useless to me. He’s probably part of the establishment.