Robert Kennedy Jr Warns of Mega Economic Crisis — Says ‘It’s Not Just the Banks’

U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking illness is the extremity of an economical mega-crisis,” emphasizing that “It’s not conscionable the banks.” He besides slammed President Joe Biden’s crypto mining taxation proposal. “It is simply a mistake for the U.S. authorities to hobble the manufacture and thrust innovation elsewhere,” Kennedy stressed.

Looming Economic ‘Mega-Crisis’

Robert F. Kennedy Jr., who launched his statesmanlike run past month, issued respective warnings this week astir the authorities of the U.S. economy, the banking crisis, and President Joe Biden’s cryptocurrency mining taxation proposal. He is simply a nephew of President John F. Kennedy and a lad of U.S. lawyer wide Robert F. Kennedy.

Firstly, Kennedy warned astir an incoming economical “mega-crisis.” He tweeted Tuesday:

The banking illness is the extremity of an economical mega-crisis. It’s not conscionable the banks.

“Job openings plummeted for the 3rd period successful a row. Core mill orders dropped for the 2nd consecutive month. Inflation is destroying the mediate and moving class. We request to crook our attraction to rebuilding our nation,” his tweet further details.

Bank Stocks Are Crashing, Bailouts Create Problems

Commenting connected President Joe Biden assuring Americans connected Monday that the banking strategy is “safe and sound,” Kennedy pointed retired successful different tweet that “bank stocks are crashing.” He stressed: “The American radical merit much than glib assurances and cognition management.”

The statesmanlike hopeful continued: “Bailouts make perverse incentives for banks to marque reckless swings for the fences with depositors’ money, knowing they volition pouch immense windfalls erstwhile they link and that the payer volition bail them retired erstwhile they miss.”

He added: “I recognize the rationale for the rescue of First Republic Bank. The occupation isn’t this circumstantial bailout. It’s a strategy of too-big-to-fail institutions that requires bailouts successful the archetypal place.” Regulators seized First Republic Bank connected Monday and sold astir of its assets to JPMorgan Chase.

Biden’s Crypto Mining Tax Proposal Is ‘a Bad Idea’

On Wednesday, Kennedy besides slammed the projected Digital Asset Mining Energy (DAME) excise tax. “Biden’s projected 30% taxation connected cryptocurrency mining is simply a atrocious idea,” helium tweeted, elaborating:

Cryptocurrencies, led by bitcoin, on with different crypto technologies are a large innovation engine. It is simply a mistake for the U.S. authorities to hobble the manufacture and thrust innovation elsewhere.

“Some advocator choky power of cryptocurrencies to forestall their usage by criminals. But it isn’t conscionable criminals who privation privacy. So bash dissidents and mean citizens,” helium emphasized. “Governments harass their enemies and crush dissent by controlling slope accounts and outgo platforms. Until we reconstruct spot successful authorities (a distant prospect) we request currency and crypto to guarantee freedom.”

What bash you deliberation astir the warnings by Presidential Candidate Robert F. Kennedy Jr.? Let america cognize successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.