Elizabeth Warren Warns An Economic Crisis Will Soon Hit The U. S.
Sen. Elizabeth Warren (D-Massachusetts) said that there are red flags now that point to another financial crisis. The senator wrote this week that a small “shock could bring it all down” and that “the Trump administration’s reckless behavior is increasing the odds of just such a shock.” The 2020 presidential candidate made it clear that she could help avert a possible crisis.
Warren wrote in a Medium post that she “warned about an economic crash… before the 2008 crisis” and “now [she is] seeing serious warning signs in the economy again.”
Last week, Warren released a substantial plan to regulate Wall Street. Warren believes that Wall Street is the main cause of income inequality in the U.S.
Her post outlined her previously stated solutions to the problem but also how they would be used to prevent a future financial crisis. The senator wrote that there a number of factors are foreshadowing a possible economic catastrophe including the rise in corporate debt and household debt.
The solutions Warren has put forth to solve these problems include increasing minimum wage to help decrease household debt, lowering costs for child care and making colleges free to attend. She has also suggested a monitoring and reducing corporate lending.