Economic Warning
Is there a number cruncher in the house?
As Americans struggle to cope with Bidenflation, one US economist has an ominous forecast of a looming depression.
Economist Harry Dent was unfortunately not full of holiday cheer in his comments to Fox News Digital. “Since 2009, this has been 100% artificial, unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. This is off the charts, 100% artificial, which means we're in a dangerous state,” Dent argued. “I think 2024 is going to be the biggest single crash year we'll see in our lifetimes.” Of course, as we all know, economists can be wildly wrong in their predictions. But it’s undeniable that America is deeply in debt, over-printing money, and, under Biden, laboring under disastrous economic and financial policies.
Of course, economists are like assholes opinions - everyone has one. And this guy is just one of many....but he's swimming against the lame-stream media that has been touting "bidenomics" in the face of rising grocery prices, rising mortgage rates, steadily increasing inflationary pressures and an unstable world picture. And that - to us - means he's worth listening to, because anyone preaching sunshine and rainbows the past three years, is likely a propagandist.
Labels: money questions
posted by SCC at 12:03 AM
35 Comments:
Warren Buffett Sells $8 Billion Worth of Stock — What This Could Mean For Your Investments
https://finance.yahoo.com/news/warren-buffett-sells-8-billion-190940745.html
Mark Zuckerburg Is Reportedly Building Himself a $270 Million Survivalist Compound in Hawaii
https://finance.yahoo.com/news/mark-zuckerburg-reportedly-building-himself-203000284.html
Warren Buffett unloads billions in stock while Mark Zuckerberg builds a survivalist compound. Do you think they know something we don't? It could be coincidence, I suppose.
My deferred comp is back to pre Trump numbers again. Looks like Ill be playing golf at the semi private golf courses again in retirement.
Dent has been on the economic collapse for a while now. And just because it hasn't happened yet doesn't necessarily make what he is saying wrong.
There is an economic reckoning coming to the United States. The Fed (which if anyone doesn't know, is privately owned and NOT an actual part of the Federal government), is trapped. There is no "soft landing" coming. There is only continued higher inflation OR recession. Those are the ONLY two scenarios left on the table.
Markets don't collapse from highs, and if you haven't noticed yet the market is illogically and insanely trading at all time highs. Yet, there is record high credit card debt, record low personal savings, record high national debt with a profligate federal government monster, higher interest rates, persistent inflation that could re-ignite once the Fed begins to lower rates, and cratering commercial real estate.
Unemployment rates haven't spike yet. When they do, that will signal an impending housing market crash of 25-50% in my opinion. Housing generally doesn't implode until after higher unemployment numbers. Why aren't unemployment numbers higher yet? Because people (and folks) are working 2-3 jobs to make ends meet.
I'm not a financial advisor but I would caution anyone within 5 years of retirement and has seen their deferred compensation account double and triple over the last 5-10 years. Be very careful of staying 100% invested in equities. They cannot keep the game going at the rate it has been. Markets don't work that way. As fast as they've gone up they can and will go down twice as fast. Insiders and the big money guys have been selling all the way up. It's called distribution. Who do they distribute their inflated equity to? Pension funds, 401k's, deferred comp, Mom and Pop.
There are going to be more banks to collapse, not just in the US but also in China and in Europe. That will rip through the markets once it happens on a large enough scale and equities will get hit hard and fast.
Don't follow the advice of the business propaganda machine on TV. If Cramer is yelling to BUY BUY BUY you should be SELLING SELLING SELLING. He is the ultimate contrarian indicator.
Do your own research and due diligence! Good Luck!
Migrants Going Door-to-Door Begging for Food, Cash and Clothing from Residents in New York City\
https://www.youtube.com/watch?v=497NGdIKDX8
American Mass Shooter are so violent and kill so many people.
Remember Friday the 13th, 2015? Remember the mass shooters that killed 130 innocent people and wounded 416 more?
Except it was Paris France, and their diverse and inclusive Islamic Colonizers.
https://en.m.wikipedia.org/wiki/November_2015_Paris_attacks
Yes, Europe is a peaceful wonderland!
Bidenomics!
OT
1. Migrants at NYC’s Floyd Bennett Field are begging for money,
food at furious locals’ doorsteps: ‘Invasion’
2. Biden to pardon all marijuana convictions
3. Reparations in New York
See : Thee Rant at tapatalk.com. NYC problems same as ours.
This country has been on a debt super cycle for 50 years. At some point it will end in a huge "Minsky Moment". Everyone's standard of living will decline. Start preparing for it.
It's not inflation, it's depreciation of the dollar. The currency will continue to lose value the more that's printed. So, it takes more dollars to buy the same product. The ruble on the other hand has more purchasing power than it had pre Ukraine.
Bring more third world migrants here! Vee vill eat zee bugs!! Vee vill own nothzing and Vee bill like it!!
I can only gauge things by how much the cost of the ingredients for my famous white wine spritzer have risen. This makes rising to the cause more difficult.
Now, kees me you fool!!!!
Currently $100K per citizen! They updated the debtclock, I remember being younger and thinking this was insane..... https://www.usdebtclock.org/index.html# .... yes, still checks out, insane! I can't help but think, the city would save if they didn't have scumbag lawsuit kids like Jennifer Koniarski (there's an Illinois Debt clock too) lolol
More than likely we're headed towards deflation. Which isn't a good thing. Nike is attempting to cut $2 billion over the next 3 years. Holiday travel so far is only up 1% over 2019, which isn't a good thing. People simply don't have money. I thought we would have hit a recession by now but hasn't happen. Might still be in a lag from the rate hikes. We'll see what happens in 2024
The average cost of everything has gone up 24% since Bidenomics.
Dogecoin
Easy to see garbage McDonald’s meal 12-14 dollars go to grocery store for 200 you get few items democrats ruined everything!!
Economists have predicted 10 out of the last 3 recessions
There is a excellent online free book I would suggest any investor read. The title is "The Great Taking" by David Webb. He is a retired investment banker who lives in Sweden. The book shows through extensive end notes that if you have stocks or a retirement account in a brokerage account, pension fund or are in debt (house, car, personal) the Federal Reserve has the ability to confiscate your entire paper or encumbered asset wealth through cross-collateral agreements which the Federal Reserve a private bank, domestic and foreign banks, the UN and other US and foreign government agencies have sign over the past 4 decades in order to protect the solvency of the Federal Reserve System and the wealth of the billionaire club.
It took me 10 days to read because I kept referring back to the end notes and references. It was an eye-opener.
Remember, that even though your brokerage account is supposedly insured to $500,000 per individual, you can still lose your assets. The solution is to pay off your debt on everything, own gold, guns and own some rural real estate to escape to.
The reason China, Saudi Arabia and other foreign government central banks are buying gold and slowly dumping US Treasury investments, is that they are losing confidence in the ability of the US government to repay its debts. The US can just print money. It cannot print gold. They know time is short and when the US defaults, its paper currency will be worthless. The dollar has already lost over 80% of its purchasing power since the 1970's.
The 2/10 yield curve has been inverted for some time and the lag effect of the interest rate increases will hit with a vengeance in the 1st and 2nd Quarters of 2024 and as unemployment increases, defaults and bankruptcies will increase. Just look at the current rate of auto repossessions.
What's with gas $ dropping dropping last week or so? Doesn't seem right
The value of any currency is found in the ratio of:
Income to Outflow.
Aka: Paycheck to Expenses.
Purchasing 'power' is a function of the natural cost to producers/providers + the demad of consumers/lack thereof + the supply/quantity availabilty.
A seemingly arbitrary, yet amusingly relevant comparison emerges:
Move decimal point one space to the left of any quantiy of currency used to define any price, wage, cost, etc.
Thus, $1.00 becomes $.10 = 10¢.
Now, cast back your memory 50 years or so.
Minimum wage, circa 1970's?
Cost of a gallon of gasoline?
Loaf of bread?
Common new motor vehicle?
2 flat brick residential property?
Anything and everything.
Some will be seen to be less costly today, some about the same, some more costly.
Everything economic is founded upon human interactions. Period.
Anyone pontificating as an expert on economics that neglects the basics is pontificating fart gases.
Anything containing precious metals has doubled or tripled in cost just head over to any hardware store or big box retailer most of the shit is under lock and key . Can’t control the thieving bastards and most have no chase policy because of a certain demographic that would be racist by their standards. Be prepared to keep forking out your hard earned money to support these assholes
Biden brought us medicine shortages, baby formula shortages, high interest rates, fuel dependency, a gallon of gas costing more than a gallon of milk in some parts of the country, uncontrolled immigration and unsafe borders, high crime rates, failing education policies, and a crippled criminal justice system and a shrinking military. Barach Obama says Biden’s re-election efforts may fall short. Gee Ya Think?
Basic supply and demand model is the cornerstone of market analysis. When the supply of a commodity is increased, the market clearing price will decrease ceteris paribus. PPP 'loans' were the first major distortion of the present supply cycle. If we take a look at the numbers it was clear that a spending frenzy was going to happen. All that money was dumped into the various ghettos and corrupt businesses. More money chasing the same level of goods. The price of weaves skyrocketed. Then we had the Great Slavic Boondoggle. Add the New Thang in the Middle East along with the quadrupling of shipping costs due to the throttling of the Suez canal and costs are obviously going to rise. To summarize;more money inflates. Reduction in supply inflates. Demand can only reduce so much, as people need to eat and do basic things. And we have the Feds promoting immigration, which has an inflationary impact on rent especially. Inflationary spiral becomes a cyclone. When the financial sector becomes dominant the empire is lost. We call it Dutch Disease for that reason. New Amsterdam became New York for the same reasons that GM closed plants... More money in markets, to hell with employees.
Barry Soetoro and Brandon’s policies are ruining the country. Notice every decision both of them have made is to the detriment of the nation, nothing good ever came from their moves. Yet they still win elections. Something ain’t right here, maybe vote fraud is keeping them in office?/s
"Anonymous said...
It's not inflation, it's depreciation of the dollar. The currency will continue to lose value the more that's printed. So, it takes more dollars to buy the same product. The ruble on the other hand has more purchasing power than it had pre Ukraine.
12/23/2023 06:00:00 AM"
Russia is doing just fine economically. The Potato in the WH sanctions against Russia have had NO and will not have any effect.
Biden is such a complete idiot! He’s so stupid, arrogant and a chronic liar that he names a complete failure of our economy and pain to Americans wallets after himself. Bidenomics. Hahahahaha! Food, gas, automobiles, materials for repairs, replacement costs, construction etc. This is also why our insurance premiums skyrocketed. The cost to replace or repair our homes and vehicles nearly doubled. Love how he tries to explain Bidenomics through his unintelligible slurring, mumbling, lost thoughts etc. It would be hilarious if he wasn’t destroying America.
If you look into Mr. Dent's forecasting history you'll find he's said this a few times before. Never correct.
Anonymous Anonymous said...
What's with gas $ dropping dropping last week or so? Doesn't seem right
12/23/2023 10:52:00 AM
There’s an election next year. They’re trying to make us forget about the $5.00 gas from the past few years.
"Anonymous Anonymous said...
What's with gas $ dropping dropping last week or so? Doesn't seem right
12/23/2023 10:52:00 AM"
The price of oil went from mid $90's to $68 recently. Oil now around $72 per barrel.
12/23/2023 12:27:00 AM
I would exercise some judgement about all those headlines...Hawaii is the LAST place for a survivalist compound. Everything, everything, everything except sugar cane, pineapples and red dirt has to be shipped in. And maybe Japanese tourists.
Economists have predicted 10 out of the last 3 recessions
12/23/2023 09:08:00 AM
Okay. I'll bite. Huh? Over-predicted? Excessively predicted? Only three correct predictions?
Biden's a fuckwit but guess what that makes you who voted for him ?
This clown of an economist (Harry Dent) has been predicting the end of days for almost 20 years.
Anonymous said...
"Anonymous Anonymous said...
What's with gas $ dropping dropping last week or so? Doesn't seem right
12/23/2023 10:52:00 AM"
The price of oil went from mid $90's to $68 recently. Oil now around $72 per barrel.
12/23/2023 08:40:00 PM
Democrats again want the win lie cheat steal
You'll know Bidenomics is working when animal shelters are not overflowing with surrendered cats, dogs, rabbits, etc. because their humans cannot afford them. When the economy "improves", people will not be taking these measures. The fluctuations of surrenders and adoptions at animal shelters are an unheralded barometer of economic well-being.
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