And, of course, she has a plan.
Courtesy of Politico:
Sen. Elizabeth Warren on Monday predicted an imminent economic crisis unless the Trump administration and Congress quickly pass legislation to regulate the financial sector and significantly reduce middle class household debt.
“Warning lights are flashing. Whether it’s this year or next year, the odds of another economic downturn are high — and growing,” Warren (D-Mass.) wrote in a Medium post entitled “The Coming Economic Crash–And How to Stop It.”
“I see a manufacturing sector in recession. I see a precarious economy that is built on debt — both household debt and corporate debt — and that is vulnerable to shocks. And I see a number of serious shocks on the horizon that could cause our economy’s shaky foundation to crumble,” she wrote.
Most of Warren’s proposals to head off the crisis are policies she has called for recently on the campaign trail such as forgiving over $600 billion in student loan debt, enacting her “Green Manufacturing Plan”, strengthening unions, providing universal child care and raising the minimum wage to $15 an hour.
It is almost certain that President Donald Trump will not sign and the Republican-led Senate will not pass these policies, meaning that Warren’s prediction of a crash will likely be tested over the next two years.
There is pushback on Warren of course because Trump’s entire campaign is based on a sound economy.
However nobody should ignore what Warren is saying because she was one of the very few who warned about the economic crash of 2008 before it happened.
And here she is doing exactly that over and over and over again.
I warned about an economic crash years before the 2008 crisis. But the people with the power to stop it didn’t listen—and families lost it all. When I look at the economy today, I see a lot to worry about again. The good news is that we can head off a crisis—and I’ve got a plan. pic.twitter.com/10PSBFJ2Vt
— Elizabeth Warren (@ewarren) July 23, 2019
In fact it was that prescience which brought her out into the spotlight and kick-started her political career.
You can argue with Elizabeth Warren on a number of topics, but the economy is not one of them.
If she yells “Fire” you better start running for the exits.
And I have to say that if she is right, then she is the single best presidential candidate for the Democrats to put forward in 2020.