The Greatest depression is coming, are you ready?
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This is not a recession. It is a "transition". (Whitehouse press secretary)
If you have a beautiful restaurant, two years ago it was valued at several million dollars, but today you are bankrupt. That is not a recession, it is a transition. You are transitioning from one stage of your life where you were successful, had a great business and was full of hope for the future, to a new stage in your life where you are homeless and digging through trash cans to feed yourself.
If you have a beautiful restaurant, two years ago it was valued at several million dollars, but today you are bankrupt. That is not a recession, it is a transition. You are transitioning from one stage of your life where you were successful, had a great business and was full of hope for the future, to a new stage in your life where you are homeless and digging through trash cans to feed yourself.
If China collapses the whole world will collapse.
The US is a debtor nation. Imagine what happens if China needs to convert their bonds to pay off debts. Ultimately it doesn't matter what debt China converts it will probably cause whatever country that is paying back China to sell US bonds. The only way for us to pay debt is to write debt, if China is not buying our bonds and is forcing other countries to also sell their bonds we will have no buyers. When that happens we are the Weymar republic. Before that day we will raise our interest rates, doing that crushes everyone who already owns our debt, causing it to be worth less and causing their own currency which is dependent on this to also become worth less. The entire world will be affected, not just China and the countries who are forced to pay back China. To make things worse there are many countries that are on the brink of collapse and need loans. If the US raises their rates they also will have to pay higher rates, something that will push more of them over the edge into bankruptcy.
China and Russia are not going to go softly into that good night. You don't passively roll over and die when you have these massive armies and nuclear stockpiles. Both China and Russia have warned the US they are playing with fire and that they will get burned. The solution for both China and Russia is to destroy the US and loot them. In the end what China will need to save itself is the Agricultural might of the US to belong to them. What Russia will need is for the US military to be no more so that there is an open door to control the Middle East oil. Also, with the US military wiped out the door would be open for China to seize Taiwan.
I think we see both of these attacks in Bible prophecy. Ezekiel 38 describes Russia and a bunch of bankrupt Islamic nations in an alliance going to Israel and being wiped out miraculously. Revelation 12 describes the old dragon having a flood of Biblical proportion right after the rapture. If I was Taiwan and China attacked my first response would be to blow up the 3 gorges dam. That is the weak underbelly of the Dragon. With one bomb you take out the entire industrial might of China. You give them a problem so devastating they have to leave you alone to go help the 500 million affected by this flood.
The US is a debtor nation. Imagine what happens if China needs to convert their bonds to pay off debts. Ultimately it doesn't matter what debt China converts it will probably cause whatever country that is paying back China to sell US bonds. The only way for us to pay debt is to write debt, if China is not buying our bonds and is forcing other countries to also sell their bonds we will have no buyers. When that happens we are the Weymar republic. Before that day we will raise our interest rates, doing that crushes everyone who already owns our debt, causing it to be worth less and causing their own currency which is dependent on this to also become worth less. The entire world will be affected, not just China and the countries who are forced to pay back China. To make things worse there are many countries that are on the brink of collapse and need loans. If the US raises their rates they also will have to pay higher rates, something that will push more of them over the edge into bankruptcy.
China and Russia are not going to go softly into that good night. You don't passively roll over and die when you have these massive armies and nuclear stockpiles. Both China and Russia have warned the US they are playing with fire and that they will get burned. The solution for both China and Russia is to destroy the US and loot them. In the end what China will need to save itself is the Agricultural might of the US to belong to them. What Russia will need is for the US military to be no more so that there is an open door to control the Middle East oil. Also, with the US military wiped out the door would be open for China to seize Taiwan.
I think we see both of these attacks in Bible prophecy. Ezekiel 38 describes Russia and a bunch of bankrupt Islamic nations in an alliance going to Israel and being wiped out miraculously. Revelation 12 describes the old dragon having a flood of Biblical proportion right after the rapture. If I was Taiwan and China attacked my first response would be to blow up the 3 gorges dam. That is the weak underbelly of the Dragon. With one bomb you take out the entire industrial might of China. You give them a problem so devastating they have to leave you alone to go help the 500 million affected by this flood.
We can learn from Sri Lanka, as long as we don't do the same mistakes they made we should be fine.
Their problem is that every time they had some "crisis" they would spend their way out of it, they were addicted to debt. This spending was like gasoline on the inflation fire.
Also they had some really stupid policies that were based on the "green new deal" that resulted in self inflicted wounds to their economy.
As long as the US is careful with their spending, avoiding debt, and not allowing a bunch of idiot green new dealers dictate policy we should be able to weather this current downturn/recession.
Their problem is that every time they had some "crisis" they would spend their way out of it, they were addicted to debt. This spending was like gasoline on the inflation fire.
Also they had some really stupid policies that were based on the "green new deal" that resulted in self inflicted wounds to their economy.
As long as the US is careful with their spending, avoiding debt, and not allowing a bunch of idiot green new dealers dictate policy we should be able to weather this current downturn/recession.
This is stunning!
If you thought China was the #1 economy in the world, think again. There is an exchange traded fund which is a basket of all the Chinese stocks, their version of the S&P 500. The price for that fund is exactly where it was in 2008 after the crash of the global economy. If you bought into China 14 years ago after the crash you have not made a dollar, actually you have lost quite a bit because of inflation.
How can this be? Their economy has doubled in size during that time. Yes, but corruption, graft, lack of transparency, idiotic policies, all of these things combine to destroy any credibility in their stocks. And it gets worse. If you had money in a Chinese bank they just reclassified your savings as an investment in a stock which you cannot sell or remove. In one fell swoop they let you know that they will decide if you can ever get your money out of the bank. And yet there is more, real estate prices dropped 30%. Imagine you had a house, cost was $500k, your mortgage was 200K, you are feeling good about having 300k in equity. Well, the cost of your house just dropped by 30%, it is now worth $350k and your equity just dropped by 50%. But it is worse in China because most people are buying the house while it is getting built. Imagine you are paying on this 500k house as they are building it and now you learn you are paying 500k for a house that is worth 350k. How many will just stop paying?
If you thought China was the #1 economy in the world, think again. There is an exchange traded fund which is a basket of all the Chinese stocks, their version of the S&P 500. The price for that fund is exactly where it was in 2008 after the crash of the global economy. If you bought into China 14 years ago after the crash you have not made a dollar, actually you have lost quite a bit because of inflation.
How can this be? Their economy has doubled in size during that time. Yes, but corruption, graft, lack of transparency, idiotic policies, all of these things combine to destroy any credibility in their stocks. And it gets worse. If you had money in a Chinese bank they just reclassified your savings as an investment in a stock which you cannot sell or remove. In one fell swoop they let you know that they will decide if you can ever get your money out of the bank. And yet there is more, real estate prices dropped 30%. Imagine you had a house, cost was $500k, your mortgage was 200K, you are feeling good about having 300k in equity. Well, the cost of your house just dropped by 30%, it is now worth $350k and your equity just dropped by 50%. But it is worse in China because most people are buying the house while it is getting built. Imagine you are paying on this 500k house as they are building it and now you learn you are paying 500k for a house that is worth 350k. How many will just stop paying?
The problem with a dictator who has complete control, he also has complete accountability. When the people see they have lost their house, they have lost their bank account, they have lost their investment account they will blame Xi. His days are numbered. He'll need a hail Mary to save himself and for dictators that means start a war. Xi is a fire breathing dragon and he just told the US that they are about to get burned.
Digital Currency -- here we come
https://www.middleeastmonitor.com/20220731-qatar-imposes-ban-on-cash-transactions-to-tackle-fraud/
https://www.middleeastmonitor.com/20220731-qatar-imposes-ban-on-cash-transactions-to-tackle-fraud/
I am much more bearish than this show, despite it probably being the most apocalyptic prediction you can find from someone who is highly reputable.
I don't believe the US dollar survives this crash and I don't believe the US stock market survives. There might be some multinational corporations that continue to survive deep into the tribulation, so that prediction is somewhat murky. Let's say I don't expect anyone who is invested in the US stock market will get anything back in 2030.
I don't believe the US dollar survives this crash and I don't believe the US stock market survives. There might be some multinational corporations that continue to survive deep into the tribulation, so that prediction is somewhat murky. Let's say I don't expect anyone who is invested in the US stock market will get anything back in 2030.
Do not compare US dollars to other currencies
Look at how much the necessities have gone up.
When Biden was elected president wheat was $6 a bushel, it March it almost hit $13 per bushel. It is currently $9 a bushel, a 50% decrease in the value of the dollar compared to wheat.
When Biden took office corn was around $3.87 a bushel, it spiked to $8.14 a bushel and right now is $6 a bushel. That is an increase of 55%.
When Biden took office gas prices were $2.63 a gallon avg retail price nationwide, today it is $4.30. That is a 63% increase.
"At one point in 2021 that national average for rent year over year increased 20%"
https://ipropertymanagement.com/research/average-rent-by-year
When Biden was elected avg cost of electricity was $0.13 per KwH, today it is $0.16 per kilowatt hr. That is a 23% increase.
Questions:
1. 30% of your income should be discretionary. If gas is up 63%, food is up 50%, rent and electricity is up 20% does anyone still have discretionary income?
You are going to see massive bankruptcies of small businesses.
2. The vast majority of middle class Americans have their net worth tied to their house. If mortgage rates are increasing then house prices are falling and that includes equity in your house. On a house that was selling for 500k when Biden took office you can view that as a 120k drop in equity. However, most of you won't see this spelled out because property tax is based on estimated value (good time to get your house reappraised). But if you go to get a home equity line of credit you can be sure the bank will factor this in. If you go to buy a house, or a car this will be factored in. As a result house sales saw a 20% drop year over year last month. Houses and cars are the engine that drives our economy. A 20% drop will have a dramatic impact nationwide. How will our economy perform going forward?
You are going to see a massive slowdown in our economy -- big time recession
3. As bad as it is in the US, it is far worse in almost every other country around the world. As a result we have BRICS working to replace the US dollar as the reserve currency. What happens to our economy when no one will finance our debt?
Without the world financing our debt we become the Weimar republic. Get your wheel barrow out.
Look at how much the necessities have gone up.
When Biden was elected president wheat was $6 a bushel, it March it almost hit $13 per bushel. It is currently $9 a bushel, a 50% decrease in the value of the dollar compared to wheat.
When Biden took office corn was around $3.87 a bushel, it spiked to $8.14 a bushel and right now is $6 a bushel. That is an increase of 55%.
When Biden took office gas prices were $2.63 a gallon avg retail price nationwide, today it is $4.30. That is a 63% increase.
"At one point in 2021 that national average for rent year over year increased 20%"
https://ipropertymanagement.com/research/average-rent-by-year
When Biden was elected avg cost of electricity was $0.13 per KwH, today it is $0.16 per kilowatt hr. That is a 23% increase.
Questions:
1. 30% of your income should be discretionary. If gas is up 63%, food is up 50%, rent and electricity is up 20% does anyone still have discretionary income?
You are going to see massive bankruptcies of small businesses.
2. The vast majority of middle class Americans have their net worth tied to their house. If mortgage rates are increasing then house prices are falling and that includes equity in your house. On a house that was selling for 500k when Biden took office you can view that as a 120k drop in equity. However, most of you won't see this spelled out because property tax is based on estimated value (good time to get your house reappraised). But if you go to get a home equity line of credit you can be sure the bank will factor this in. If you go to buy a house, or a car this will be factored in. As a result house sales saw a 20% drop year over year last month. Houses and cars are the engine that drives our economy. A 20% drop will have a dramatic impact nationwide. How will our economy perform going forward?
You are going to see a massive slowdown in our economy -- big time recession
3. As bad as it is in the US, it is far worse in almost every other country around the world. As a result we have BRICS working to replace the US dollar as the reserve currency. What happens to our economy when no one will finance our debt?
Without the world financing our debt we become the Weimar republic. Get your wheel barrow out.
