Happy Moon Landing Day!

Government spending goes wild

The U.S. government just spent $429 billion in June 2017.  That is the first time it has ever spent more than $400 bn in a single month.  Compare to the $323 bn in outlays in June 2016.

So, this brings up a related question - what was the deficit for June? $90 billion.  Wow.  Are we sure that the government won't run out of cash by Sept. 30 and have to shut down?

While you were sleeping

Source: https://www.cbo.gov/system/files/115th-congress-2017-2018/reports/52801-june2017outlook.pdf

The projected deficit just got a lot bigger.  I previously speculated that $800 billion was the danger point for the deficit, and it was going to exceed this in 2022.  Well that has been bumped up a year, as the deficit in 2021 is now projected to be $879 billion, up from $797 billion previously projected for 2021.   Again, this assumes no recession.

Also notice that the deficit is projected to "bottom out" at $565 billion in 2018.  Just a few months ago, the 2018 deficit was projected to be $487 billion.

Of course, these numbers will skyrocket when the recession hits in 2018.  I think the deficit will exceed $1 trillion in 2019 and then explode from there.

Market Meltdown predicted before the end of the year

Market analyst Lynette Zang has deep Wall Street experience and is starting to see a worse setup than just before the 2008 market meltdown. ....So, how long can central banks keep the debt party going? When is the next crash? Zang says, “I am worried that it will happen before the end of this year. What do you do when the computer says no? 
 There is a certain amount of cash in the ATM, maybe $60 a day, maybe $300 a day. Who knows? But it’s not going to be enough. So, that’s what it is going to look like. Most people will freak out because they have about three days of food in their house. Most grocery stores have about three days of food on their shelves. So, what happens after day six? People will be scared for sure, and they will panic.”
http://usawatchdog.com/market-crash-coming-insiders-run-lynette-zang/

I am just repeating what I am reading.  I think there will be a major crash, but next year, not this. And I don't think it will cause people to run out of food.  But who knows.