Peter St Onge Podcast Ep 124 Weekly Roundup: Inflation Plunges, Wages Soar
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Jun 9, 2025 This week, the podcast dives into positive economic shifts with inflation dropping and wages rising. Attention turns to Europe's failing welfare state and its struggles with migrant support amidst stagnant growth. A looming financial crisis is explored, paralleling challenges in both Europe and the U.S., exacerbated by soaring federal deficits. Experts issue warnings about a potential bond market crisis tied to high debt levels. The discussion also critiques inefficiencies in UN bureaucracy and calls for substantial budget reforms.
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Trump's Economic Impact
- Trump administration cut inflation in half while doubling wage growth in four months.
- Personal income rose $210 billion, tripling Wall Street's expectations, signaling strong economic recovery.
Europe's Welfare and Migration Crisis
- Europe's welfare state faces bankruptcy fueled by mass migration and rising social spending.
- Migration drives fiscal deficits, with weak growth making reforms urgent amid rising military spending.
Federal Deficits Risk Crisis
- Huge federal deficits of nearly $3 trillion annually threaten bond markets and could spark financial crisis.
- Rising debt issuance risks higher interest rates, recession, or inflation if unchecked by spending cuts.