CELENTE: Trump's Big Beautiful Bill Act will smash U.S. dollar

We forecast there will be growing political movements against the 1 percent when the coming “Greatest Depression” sinks the American economy

The U.S. House of Representatives on Thursday passed President Donald Trump’s so-called Big Beautiful Bill Act and will send the legislation to the president’s desk, and he will sign it into law on the White House lawn tomorrow — the Fourth of July.

Trump reposted a message by Treasury Secretary Scott Bessent that read: “As Treasury Secretary, I’m committed to eliminating income taxes, replacing them with a fair consumption tax, and adopting a gold-back currency. We’ll erase debt, restore financial privacy, and unlock new technologies for a prosperous future. The golden age starts now.”

Trump responded: “Great job by Secretary of the Treasury Scott Bessent in explaining the complexities, but BEAUTY, of the “ONE BIG BEAUTIFUL BILL ACT!”

The bill will call for a $5 trillion increase in the debt limit.

We wrote in this week’s Economic Update:

We detailed in articles for this week’s Trends Journal, before his tax bill was approved by the Senate today, we wrote that just as his tax cut bill in 2017 enriched the rich, this one will further enrich the rich and give just a few bucks in tax breaks and benefits to we, the plantation workers of Slavelandia.

As with his 2017 tax cut bill, according to the Tax Foundation, the Senate bill that was just passed rewards the top 1 percent of Americans… the richest of the richest that will earn $663,000 or more in 2025.

On the downside for the plantation workers of Slavelandia, the Congressional Budget Office says Trump’s tax bill will actually reduce the poorest sector of Americans’ incomes, over 10 million will lose health insurance and their cost of food and healthcare will increase.