The Greatest depression is coming, are you ready?

[ZNP]

MEDIA

Published January 14, 2024 12:00pm EST
America’s offices are the emptiest they've been in at least four decades, according to report
Nearly 20% of offices are sitting empty, which is the highest number on record, according to report

https://www.foxbusiness.com/media/americas-offices-emptiest-least-four-decades-according-report

America’s offices are the emptiest they've been in at least four decades as a result of the pandemic and the rise in remote work. Nearly 20% of offices are sitting empty, according to a recent report released by Moody Analytics.

 

[ZNP]

Jamie Dimon Issues Dire Warning About Economy: ‘Money Is Running Out’
JPMorgan Chase CEO Jamie Dimon is warning of a 1970s style scenario that combines high inflation and a recession, rather than a soft landing.

https://www.theepochtimes.com/artic...utm_source=partner&utm_campaign=BonginoReport

 

[ZNP]

CCP can’t solve financial crisis... then people with $30M assets in danger! Riches Forced to Rebel?

This bank collapsed due to real estate collapse.

 

[ZNP]

We are seeing tens of thousands of white collar workers laid off from Google, tech companies, and banks. These people make over 100k a year. You can bet they have car loans and mortgages. They also work on office buildings.

So what does this do to commercial real estate? How about residential real estate? What about credit cards and car loans? My point is banks are about to get hammered. As these relatively wealthy middle class workers lose jobs they will live off of savings and retirement which means they will withdraw money from banks forcing the banks to sell their bonds and book losses on them. As they sell houses the price drops and again, the portfolio of bank assets get adjusted down in value. As vacancy rates for office buildings increases the assets for the banks will again be assessed downwards.

AI replacing workers this year will precipitate a massive bank failure just like what we are already seeing in China. This is not a bubble in one country, Japan's situation is dire, Germany's situation is dire, China's situation is dire, and the US is probably doing the best of all the midgets, but it is also hurtling towards the cliff as all the fortune 500 companies will be forced to cut costs to survive as demand plummets and with AI they can do that very quickly.

But the worst thing is we will see tax revenue fall off a cliff. The US is broke, our debt is increasing by more than $2 trillion a year, and if tax revenue is down it could be by $3 trillion. If no one buys our bonds anymore because of BRICS our interest rates could double! If that happens then a complete collapse is underway. That means Social Security and Medicare collapse.

 

[Cameron143]

We are seeing tens of thousands of white collar workers laid off from Google, tech companies, and banks. These people make over 100k a year. You can bet they have car loans and mortgages. They also work on office buildings.

So what does this do to commercial real estate? How about residential real estate? What about credit cards and car loans? My point is banks are about to get hammered. As these relatively wealthy middle class workers lose jobs they will live off of savings and retirement which means they will withdraw money from banks forcing the banks to sell their bonds and book losses on them. As they sell houses the price drops and again, the portfolio of bank assets get adjusted down in value. As vacancy rates for office buildings increases the assets for the banks will again be assessed downwards.

AI replacing workers this year will precipitate a massive bank failure just like what we are already seeing in China. This is not a bubble in one country, Japan's situation is dire, Germany's situation is dire, China's situation is dire, and the US is probably doing the best of all the midgets, but it is also hurtling towards the cliff as all the fortune 500 companies will be forced to cut costs to survive as demand plummets and with AI they can do that very quickly.

But the worst thing is we will see tax revenue fall off a cliff. The US is broke, our debt is increasing by more than $2 trillion a year, and if tax revenue is down it could be by $3 trillion. If no one buys our bonds anymore because of BRICS our interest rates could double! If that happens then a complete collapse is underway. That means Social Security and Medicare collapse.

No problem. Tax the robots. Robots should pay their fair share also.

 

[ZNP]

Bakery Owners Weep! Over 120,000 China's Bakeries Shut Down and Close In 2023

I post what is happening in China because it shows what is coming to the US.

 

[ZNP]

The CCP deployed armored vehicles and armed police to mercilessly slaughter civilians

 

[ZNP]

Hybrid work leaves offices empty and building owners reeling | 60 Minutes

95 million square feet of office space unoccupied in NYC, equal to 30 empire state buildings.

There is not going to be a return to office. Why should they?

1. Everyone learned during the pandemic how to use Zoom and other online tools for meetings.

2. Working from home is cheaper for companies and preferable to workers.

3. They like the part time office, like workers coming in one day a week, allowing companies to reduce their footprint by 80%.

and

4. AI does not needs its own cubicle, or office, or library, etc. If AI replaces ten thousand workers then obviously you don't need office space for those ten thousand workers.

This is "good" for business. You will see them cut costs, increase profit and stock price will rise. But this is catastrophic for banks holding this commercial real estate. You will see bank collapses as hundreds of billions of dollars in investment goes up in smoke.

 

[ZNP]

Citigroup to Cut 20,000 Jobs Over 2 Years

https://www.theepochtimes.com/artic...utm_source=partner&utm_campaign=BonginoReport

 

[Billyd]

Hybrid work leaves offices empty and building owners reeling | 60 Minutes

95 million square feet of office space unoccupied in NYC, equal to 30 empire state buildings.

There is not going to be a return to office. Why should they?

1. Everyone learned during the pandemic how to use Zoom and other online tools for meetings.

2. Working from home is cheaper for companies and preferable to workers.

3. They like the part time office, like workers coming in one day a week, allowing companies to reduce their footprint by 80%.

and

4. AI does not needs its own cubicle, or office, or library, etc. If AI replaces ten thousand workers then obviously you don't need office space for those ten thousand workers.

This is "good" for business. You will see them cut costs, increase profit and stock price will rise. But this is catastrophic for banks holding this commercial real estate. You will see bank collapses as hundreds of billions of dollars in investment goes up in smoke.

NYC has 95M sq ft of office space unoccupied! They have plenty of room for a million illegals.

 

[ZNP]

NYC has 95M sq ft of office space unoccupied! They have plenty of room for a million illegals.

Fill those buildings with immigrants like grasshoppers.

 

[ZNP]

China’s First-Tier Cities Doomed! Flood of Jobless Workers Departing, Leaving Mass Homes Unrented

 

[ZNP]

Another Huge Bombshell: Ding Yifeng's Stock Value Plunges Nearly 70% in 5 Days, Investors Protest!

 

[ZNP]

Hey, I figured out how to solve our $34 trillion debt. We can reduce our debt simply be devaluing our dollar. For example, suppose we made a $100 bill worth $10, the would reduce our debt to $3.4 trillion in one fell swoop. However, no one will buy another US bond, so if you aren't going to be able to sell anymore debt I would suggest making sure you wipe out that debt. So make that $100 bill worth $1, if you do that our $34 trillion debt becomes $340 billion. But if you make $100 bill worth $0.01 (one penny) then our $3.4 trillion becomes $3.4 billion! Now before you do this buy up $3.4 billion in gold so that once you have devalued the dollar you can pay off the remaining debt in gold (which will now be worth $34 trillion in US currency).

There is a downside of course, if you have $100,000 in a retirement account it will be worth $10. However, your Mortgage payment of $2,000 a month will now be worth $0.20. Granted you won't be able to buy a single imported item, but that will be temporary, in 10 or 20 years we will be back on our feet. The other good outcome is that we will have a government that will no longer be able to borrow money and put us into great debt. One other issue will be with retired people. $4,000 a month will now be worth $0.40.

So doing this solves the debt crisis, but many Americans will be very angry. Simply do what the Japanese do, have all the politicians responsible to come out and apologize and then commit hare kare.

Obviously this is a joke because doing this would utterly destroy the economy. But it isn't a waste of time because this will be the ultimate solution. We are speeding towards the cliff, there is no way to stop this, so we are going to end up at the bottom of that cliff.

 

[ZNP]

It's here! This is the END of the U.S. Dollar as we know it | Redacted with Clayton Morris

 

[ZNP]

❗️BANK FAILURES TO ACCELERATE AS BANKS WARN; OFFICE VACANCY HIGHEST IN 30 YEARS; CPI- NO RATE CUTS

 

[ZNP]

Are you ready?

No Money in Banks: Can’t Withdraw, Missing Deposits, Restricted Transfers! China's Bank Run Imminent

1. Can't withdraw money from a deceased relative

2. Spending limits prohibit you from spending your money

3. Credit card stops working

4. Being interrogated to prove your money is your money

By law, in the US "your money" in the bank is not under your control. The agreement with the bank says you have essentially loaned them your money and in the event they can't pay you pack you are simply a creditor in the bank.

Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:

 

[ZNP]

Widespread Protests and Defiant Resistance Ignite Against Xi Jinping's Escalating Autocracy

 

[ZNP]

WHAT A CLOSING WALMART LOOKS LIKE INSIDE BEFORE ALL ITEMS ARE GONE..MACY'S CLOSING LOCATIONS TOO

 

[ZNP]

Jim Rickards: Put on Your Crash Helmets - New Banking Meltdown Could Snowball into Global Crisis