In his new book, the former head of the Office of Management and Budget, James Krongard, makes a compelling case for the economic boom of 2017 that’s already sweeping the nation.
But his book also has a lot to say about what the future looks like in the United States and the world.
For example, the author’s analysis of the U.S. economy paints a bleak picture of what’s next for the country.
He argues that the Trump administration’s aggressive policies have left the country in a deep economic slump, and that it’s going to take years for the recovery to take hold.
Krongards warning echoes President Donald Trump’s warning that the global economy is on the brink of collapse, and he warned that the United Kingdom will leave the EU in 2019 and that the rest of the world will follow.
Krongard argues that we’re in the midst of a historic economic slump that could lead to a recession in the near future.
And he’s right.
There’s plenty of evidence that shows this.
We have the lowest rate of economic growth in over 40 years, unemployment has been near its lowest point in decades, and the federal debt has ballooned to over $20 trillion.
Krongs forecast for this situation, “shows that the economic outlook for the U and the U.-S.G. will be bleak in the next several years.”
This is a very real threat, said Krongarde.
His prediction for a recession could be coming in 2019.
He added, “It’s not an immediate threat, but if we don’t act soon, we’re going to see a recession.
We will be living in a depression, and it will not be short.
That’s going have a very long, long term impact on our economy.”
What are the key takeaways from Krongarts book?
Krongs book is a sobering and timely book that offers a detailed analysis of what is happening to the U, and how we could be heading toward a new recession.
He points out that the current economic situation is very different than it was in the 1930s and ’40s, and we’re now living in an economy that’s less healthy than it has been in decades.
Krings point is that, “The current situation in the U is different from that of 1930s, ’40’s, and is more fragile than it had been in previous recessions.”
And he warns that this will not last for long.
He said, “This economic crisis will be severe and prolonged.
And if we do not act now, it is likely that the economy will contract further, potentially into the trillions of dollars.”
The book is available in paperback and Kindle formats, with the latter being available to order through Amazon.com.
Krs book is also available for audiobook and download, which you can order through Audible.
Krangards prediction for the next five years is based on several assumptions, including the following:Krings forecast for 2019 will be for a decline in GDP growth, which would cause a recession, and will be accompanied by a rise in unemployment.
This is due to a decrease in labor force participation, a reduction in the number of jobs created, and a reduction of overall consumer spending, Krongars forecasts.
He says that the number one factor in the economy right now is how many people are unemployed, and so if we continue to cut back on the number and hours people work, it will have a negative impact on the economy.
He also expects a rise, and increase in the national debt.
The national debt is already over $21 trillion.
The government owes $6 trillion in outstanding federal debt.
Krons outlook for 2019 predicts a total debt overhang of $24 trillion.
He notes that the debt will be much higher than it is now because of higher interest rates, as well as lower interest payments on the debt.
In addition, the government is currently spending over $1 trillion per day, but he notes that this is more than it would have been in the past.
As for the economy, Krongs expects GDP growth to slow down to about 3.5% this year.
But that will gradually increase to 3.8% in 2019, and then to 4.1% in 2020, and finally to 4% in 2021.
The U.K. economy is expected to grow at around 3% this fall, and at about 3% in the first half of the year, which will be a record pace for this country.
The outlook for unemployment is much lower, and Krongs forecasts that unemployment will drop to around 5% this spring and fall to around 3%.
He also forecasts that the national unemployment rate will drop below 5% by 2021, and to 2% in 2022.
Krinks forecast for the federal government’s debt will also decrease, to less than $16 trillion in 2019 from about $19 trillion in 2021 and 2022.
Kruongs book also offers several predictions