Posted on 06/29/2022 8:42:42 AM PDT by Starman417
I have often wondered how to determine when the United States of America is approaching a catastrophic financial crisis, similar to the stock market crash of 1929. President Biden will never provide us with that information because it would further expose him as a dysfunctional, incompetent, nowhere man sitting in his nowhere fake office land. Biden, as the captain of the Titanic, would yell, "Full speed ahead. Maybe we'll get lucky and hit a mine!" You get the point. The Biden administration, better known as dysfunction junction, still blames Trump for their disastrous tenure in office: "Hey, look over there at the J6 circus clowns! Donald Trump grabbed the steering wheel and threw food! O, MY!"
Britt Gillette wrote an excellent article: The Coming Financial Collapse and the Great Reset. Some of the bullet points of his article were:
How will citizens know when the USS America is going to sink and rest at the bottom of the ocean, 4.28 miles down, like the magnificent destroyer, USS Samuel B. Roberts in WWII? Britt Gillette has a theory:
When you see the arrival of universal basic income, you can be sure that the final collapse has arrived. Trillions of new currency units will flood the global economy and we will be on the road to hyperinflation.Universal basic income (UBI) is another disastrous government program designed to provide every adult citizen with a set amount of money every month. Chicago already plans to give 5,000 low income people $500 a month for one year with no strings attached. Many other states have similar UBI programs in the hopper.
I assume that these programs will grow across the United States and throughout the world because everyone loves getting something for "free." Margaret Thatcher once famously said that, "The problem with socialism is that eventually you run out of other peoples money." Unfortunately, America will never run out of money because they can print, money ad infinitum. People from other nations will swarm over our invisible southern border hoping that some of the "free" money" will be left for them.
(Excerpt) Read more at Floppingaces.net...
We’re in a recession right now, I don’t care what puny-positive number comes out on Friday, it will no doubt be adjusted down in the weeks following, just like last quarter.
When JP Morgan starts laying off people, a recession is known.
Oh, and the Dow will see mid 20’s by year end 2022.
And just remember, 1 out of 3 Americans still love them some Biden, only blunt force economic trauma will wake these fools from their slumber.
``So you think that money is the root of all evil?” said Francisco d’Anconia. ``Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?
``When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor - your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money, Is this what you consider evil?
``Have you ever looked for the root of production? Take a look at an electric generator and dare tell yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food by means of nothing but physical motions - and you’ll learn that man’s mind is the root of all the goods produced and of all the wealth that has ever existed on earth.
``But you say that money is made by the strong at the expense of the weak? What strength do you mean? It is not the strength of guns or muscles. Wealth is the product of man’s capacity to think. Then is money made by the man who invents a motor at the expense of those who did not invent it? Is money made by the intelligent at the expense of the fools? By the able at the expense of the incompetent? By the ambitious at the expense of the lazy? Money is made - before it can be looted or mooched - made by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can’t consume more than he has produced.
``Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter. So long as men live together on earth and need means to deal with one another - their only substitute, if they abandon money, is the muzzle of a gun.
``But money demands of you the highest virtues, if you wish to make it or to keep it. Men who have no courage, pride or self-esteem, men who have no moral sense of their right to their money and are not willing to defend it as they defend their life, men who apologize for being rich - will not remain rich for long. They are the natural bait for the swarms of looters that stay under rocks for centuries, but come crawling out at the first smell of a man who begs to be forgiven for the guilt of owning wealth. They will hasten to relieve him of the guilt - and of his life, as he deserves.
``Then you will see the rise of the men of the double standard - the men who live by force, yet count on those who live by trade to create the value of their looted money - the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law — men who use force to seize the wealth of disarmed victims — then money becomes its creators’ avenger. Such looters believe it safe to rob defenseless men, once they’ve passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.
``Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion — when you see that in order to produce, you need to obtain permission from men who produce nothing — when you see that money is flowing to those who deal, not in goods, but in favors — when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you — when you see corruption being rewarded and honesty becoming a self-sacrifice — you may know that your society is doomed. Money is so noble a medium that is does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot.
``Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, `Account overdrawn.’
``When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, `Who is destroying the world? You are.
`` You stand in the midst of the greatest achievements of the greatest productive civilization and you wonder why it’s crumbling around you, while you’re damning its life-blood - money. You look upon money as the savages did before you, and you wonder why the jungle is creeping back to the edge of your cities. Throughout men’s history, money was always seized by looters of one brand or another, whose names changed, but whose method remained the same: to seize wealth by force and to keep the producers bound, demeaned, defamed, deprived of honor. That phrase about the evil of money, which you mouth with such righteous recklessness, comes from a time when wealth was produced by the labor of slaves - slaves who repeated the motions once discovered by somebody’s mind and left unimproved for centuries. So long as production was ruled by force, and wealth was obtained by conquest, there was little to conquer, Yet through all the centuries of stagnation and starvation, men exalted the looters, as aristocrats of the sword, as aristocrats of birth, as aristocrats of the bureau, and despised the producers, as slaves, as traders, as shopkeepers - as industrialists.
``To the glory of mankind, there was, for the first and only time in history, a country of money - and I have no higher, more reverent tribute to pay to America, for this means: a country of reason, justice, freedom, production, achievement. For the first time, man’s mind and money were set free, and there were no fortunes-by-conquest, but only fortunes-by-work, and instead of swordsmen and slaves, there appeared the real maker of wealth, the greatest worker, the highest type of human being - the self-made man - the American industrialist.
``If you ask me to name the proudest distinction of Americans, I would choose - because it contains all the others - the fact that they were the people who created the phrase `to make money.’ No other language or nation had ever used these words before; men had always thought of wealth as a static quantity - to be seized, begged, inherited, shared, looted of obtained as a favor. Americans were the first to understand that wealth has to be created. The words `to make money’ hold the essence of human morality.
``Yet these were the words for which Americans were denounced by the rotted cultures of the looters’ continents. Now the looters’ credo has brought you to regard your proudest achievements as a hallmark of shame, your prosperity as guilt, your greatest men, the industrialists, as blackguards, and your magnificent factories as the product and property of muscular labor, the labor of whip-driven slaves, like the pyramids of Egypt. The rotter who simpers that he sees no difference between the power of the dollar and the power of the whip, ought to learn the difference on his own hide - as, I think, he will.
``Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to be the tool by which men deal with one another, then men become the tools of men. Blood, whips and guns - or dollars. Take your choice - there is no other - and your time is running out.”
The GDP number does not come out until July 29.
But I agree they might fudge it to prevent the R word.
The Great Depression was made worse by callable mortgages and overly generous stock margin financing. These were reformed.
Unfortunately, we had and probably will have great inflation.
I pay about 20% to about 100% more for food than under Trump.
The GDP is a highly fudged thing.
The federal government pays for much of the rent on a very large percentage of rental housing units.
Governments for health coverage providers to buy overpriced drugs.
Hospitals have been given local monopolies.
Governments keep professional service costs high.
In my library I have several good books on the crash of 1929.
Nothing around us today comes close to being a pattern to guide by.
BUT, the idea that the US poured liquidity on the financial fire of 1929 in order to save the English Banking system might be a parallel. Klaus Schwab want’s a Great Reset. (abandonment of all Liberty) And the Global Warming scam is to shift funds from oil producing nations to prop up the banking systen of Europe, is a parallel.
So, a year from now? What will the currency of world exchange be? In a sane world it would be tangible assets. This is not a sane world. Government stability is a chimère an illusion. Gold as the basis does not allow for expansion of currency with population, but it stops run away inflation.
If there is any sanity left (valid question); gold, silver, oil and food should be benchmarks.
(United States of America is approaching a catastrophic financial crisis, similar to the stock market crash of 1929.)
And I think TPTB know it’s coming. In fact, I’m certain that they do know; because it’s a mathematical certainty. /shiny side out
1 Timothy 6:Ayn Rand's rant is a combination of not knowing Scripture, and worshiping Man above God.
3 If any man teach otherwise, and consent not to the sound words of our Lord Jesus Christ, and to that doctrine which is according to godliness, 4 He is proud, knowing nothing, but sick about questions and strifes of words; from which arise envies, contentions, blasphemies, evil suspicions, 5 Conflicts of men corrupted in mind, and who are destitute of the truth, supposing gain to be godliness. 6 But godliness with contentment is great gain. 7 For we brought nothing into this world: and certainly we can carry nothing out. 8 But having food, and wherewith to be covered, with these we are content. 9 For they that will become rich, fall into temptation, and into the snare of the devil, and into many unprofitable and hurtful desires, which drown men into destruction and perdition. 10 For the desire of money is the root of all evils; which some coveting have erred from the faith, and have entangled themselves in many sorrows. 11 But thou, O man of God, fly these things: and pursue justice, godliness, faith, charity, patience, mildness. 12 Fight the good fight of faith: lay hold on eternal life, whereunto thou art called, and hast confessed a good confession before many witnesses. 13 I charge thee before God, who quickeneth all things, and before Christ Jesus, who gave testimony under Pontius Pilate, a good confession, 14 That thou keep the commandment without spot, blameless, unto the coming of our Lord Jesus Christ,
but it’s not wrong....
(When you see the arrival of universal basic income, you can be sure that the final collapse has arrived)
Frankly, a government UBI, by most every nation on Earth 🌎🌍 seems, IMHO, a logical step that is coming.
It will be all electronic and a Global Economic Crash a.k.a. a Global Reset, will necessitate this
Once everyone is onboard, pull the rug out from under their feet and tell them they must worship the political messiah who has just confirmed the 7-year covenant of Peace and Security in the Middle East.
The False Prophet will demand:
Will that be right hand?
Or forehead?
NO. Money is a useful, man-made tool. (She even says as much, and then proceeds to worship a man-made tool. Idolatry never comes to a good end.) GOD is the root of all good. Until and unless you discover that Truth, you will forever fruitlessly seek "good" without even knowing what it is.
(``So you think that money is the root of all evil?” said Francisco d’Anconia. ``Have you ever asked what is the root of money?)
To answer his question I’d say the Bible says the LOVE of money is the root of all evil. Not money by itself, per se.
The canary in the coal mine died a long time ago. For a small corpse, it certainly exudes a most powerful stench.
Stagflation, rupturing of supply lines, unrest at almost every street corner of every city under “blue” governance, and a flood of foreigners of either unknown origins, or evil intent. All being overseen by perhaps the most unready and incompetent national government this nation has ever seen installed in office.
Margin debt was up to $600 Billion in Q4 of last year ... it has dropped down to a measely ~$575 Billion since then per a historical chart here:
FINRA numbers indicate it was up to $825 Billion in February - but has dropped to only $753 Billion as of May:
https://www.finra.org/investors/learn-to-invest/advanced-investing/margin-statistics
It’s ridiculously high - the data only goes back to ‘97
This site indicates that it’s near the most it’s ever been but not necessarily the worst when compared to the size of the market - this time the data goes back to 1970: https://www.currentmarketvaluation.com/models/margin-debt.php
Prior to the 2008 plummet it was close to 3% now it’s around 1.75% after peaking in Q4 around 2% of market cap. Still in line with where we were pre-dotcom bubble pop and too high in my opinion..but then all debt is IMHO so.....
Finally found information on the 20s indicating margin was as low as 10-20% down in the 20s, I know for me now it varies by stock but the lowest I’ve seen for the past few years was 35% down.
artcle: https://www.thoughtco.com/the-stock-market-crash-of-1929-1779244
The bible says: (1st Timothy 6:10) For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
Money itself is not capitalism, it is only a flawed medium of exchange. "The Love of" that position of control is where the evil kicks in. Those who have no other values, serve the wrong master. There is a price for that.
Or the 666th COVID-19(84) booster
/mostly just joking
mostly...
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