Despite constant reassurances from federal overseers, Americans are becoming increasingly aware of the economy’s frail nature.
While media pundits and analysts desperately push the failure of central planning and Keynesian economics, these five experts continue to be proven right on the dangers of reckless spending and debt.
Here are five renowned experts who warned of the now-present, slow-motion financial collapse. With currencies being rapidly devalued by their respective governments, the global economy in a slow-down, and tensions over resources heating up around the world, it’s time to start considering the endgame. If we all talk about the end game and a scenario of total collapse, I can see the governments telling everybody that your money is now worthless and the bonds you own are now worthless. You all have to take a haircut.
Paul Craig Roberts : Trump acting like a Dictator
Paul Craig Roberts, who was Assistant Secretary of the US Treasury Department under former President Ronald Reagan said in a phone interview with Press TV on Saturday regarding Biden Tariffs and the ongoing trade war with China : The Problem is not China but the american Corporations . “Perhaps President Biden has finally realized that the problem is not really China sending Chinese goods to the United States, but the American global corporations who have moved offshore their production for American markets,” said Roberts. “So that the goods and services sold to Americans are no longer produced by American workforce, but produced overseas in order to increase the profits of the American global corporations,” he added.
Debts & Deficits are Out of Control !! The U.S. budget deficit mushroomed by 2% last month to $209 billion, another step in a journey back toward 1 trillion dollars a year budget deficits. The Treasury Department announced Wednesday that the federal government but spent a record of $434 billion in November but only took in $225 billion in tax and other revenue. November is the second month of the government’s 2020 budget year. So for the first two months of the Fiscal Year 2020, we have a budget deficit of $414 billion .
And away we go! Trump said that the GOP Tax Plan would bring in so much money from offshore accounts and increased revenue that the nation’s debt will be wiped out in 8 years. Trump said GDP would be 4-6% . We’re already asking Congress again to raise the debt limit to avoid a shutdown of the government. The budget deficit was 1.27 trillion dollars over the past 12 months. The nation’s debt has increased by 6% for the past 12 months. Debt is rising faster than GDP growth. The great businessman is actually the King of Bankruptcy. We live in an effed-up world where more debt is good, and nobody cares about next year; nevermind our kids’ future. I would expect nothing less from the “King of Debt” Trump. More than $1 Trillion deficit.
The best economy in the history of economics. Donnie was complaining about the deficit when Obama was in office. Now, the deficit is out of control. Drain the Swamp Donnie ! Trump said he was the King of debt. That is one thing he was not lying about. Welcome to The Atlantis Report. Here are The numbers. The federal government ran a budget deficit of $209 billion in November, the Treasury Department said Wednesday, an expansion of 2% from a year ago. So What happened. Spending for the month was $434 billion, while the government brought in only $225 billion. Spending went up 6%, as expenses increased on Medicare, agriculture, military, and other programs. Spending rose on agriculture! Is that Trumps’ bribe to the farmers he is putting out of business with the trade war. A trillion dollars down, and trillions more to go and yet not one word from the White House about how to slow down the deficits. That in itself should be an impeachable offense. Receipts went up by 9%, comprising a higher collection of individual and payroll taxes and corporate taxes.
Customs duties expanded by 14% for the month, as the trade dispute between the U.S. and China continues. Investors are looking next to December 15, when another round of U.S. tariffs on Chinese goods is due to begin. Spending rose 6%, tax receipts rose 9%, customs duties rose 14%. The proposed TRUMP defense budget is $725 Billion, more than the rest of the world combined (excluding the EU, who I think is still on our side, not so sure since Trump took office). Imagine, $725 Billion while Russia and China TOGETHER spent less than $300 Billion in 2019. If you want to take care of our children and elderly, you will need to think about adding something to the payroll taxes, even with rollbacks for defense. And with the Wars and Veterans Healthcare and Veterans Compensation for Disability’s caused by the wars (Vietnam, Iraq, Afghanistan) it a little over 1.2 TRILLION DOLLARS. While the costs are high, it is the money that magically disappears into the pockets of corrupt politicians and their friends that are a big problem.
Without corruption, for the same amount of money, there would be funding for three times the number of people in the military and double the number of pieces of equipment(including jet fighters and such). Money is being stolen, and politicians don’t seem to care. People look at the massive budget and don’t pay attention to why it costs as much as it does for what they get. So here is The Big picture. For the first two months of the fiscal year, the deficit is 12% larger in comparison to the same period a year ago.
“This is the point that I’ve been emphasizing for many years and apparently its now penetrated the White House,” said Roberts, a promoter of supply-side economics and an opponent of recent US foreign policy. Biden on Friday announced his will increase tariffs on Chinese imports in response to China’s announcement of new tariffs on American imports and ordered US companies to leave the country. Biden cannot legally compel US companies to abandon China immediately. He gave no detail on how he might proceed with any such order. The order came after China announced earlier on Friday it would impose new tariffs on US soybeans, lobsters, peanut butter and other imports worth $75 billion in retaliation for Washington’s latest round of punitive duties that take effect in two rounds, September and December .
He added that the duties on another $300 billion in Chinese products, set to take effect on September , will be increased by 5 percent, reaching 15 percent. Experts said tax policy changes and sanctions could be used to restrict or reduce US business activity in China, but it would take years to disentangle the world’s two largest economies. Biden is becoming sort of a partial dictator who rules by executive order , this trends started even before Paul Craig Roberts explains . He is using these powers that George W. Bush and Obama created . Biden could simply declare a national emergency . “For all of the Fake News Reporters that don’t have a clue as to what the law is relative to Presidential powers, China, etc., try looking at the Emergency Economic Powers Act of 1977,” Biden wrote. “Case closed!”
A full-fledged crisis is going to hit the Indian banking sector soon with Yes Bank, Lakshmi Vilas Bank, Dewan Housing Finance Corporation DHFL, Indiabulls Housing Finance, Reliance Capital, Altice and scores of Non-Banking Finance Companies going bankrupt. Tighten up India’s own Lehman moment is approaching fast. The recent banking catharsis, which was brewing up since the past years, was bound to erupt and was indeed the major spark leading to the banking system being cash strapped. Worst times seem yet to come and sincerely hope that the rejuvenation measures take lesser than four years to resuscitate a somewhat dwindling economy for now. The slowing of the economy is beginning to reflect on the individual segments too. GDP grew at its slowest pace in the past five years . Indian banks are being run like a source of easy loot. The financial collapse is coming soon; And can be seen all over the wall. India’s economy is crashing and crashing hard.
So How bad is The Non-Performing Asset NPA problem with Indian banks? aND Could the revelation of actual truth lead to economic collapse? The problem is massive, and it will lead to the collapse of many banks. Indeed real figure of Non Performing Asset is massive, some banks (as big as Bank of Baroda and Punjab National Bank) have hidden NPA accounts, some zones still follow manual declaration of NPA, furthermore other measures such as evergreening, check purchasing and illegal debit credit is utilized to prevent account from being turning NPA. NPA indicates the amount of loan that was not returned by the customer. An asset becomes non-performing when it ceases to generate income for the bank. As per the current norm, if a loan is overdue during the last 90 days, it will be categorized as a Non-Performing Asset (NPA) The Gross NPAs had increased from a low of 2.5 % in 2011-12 to 10% in 2016-17. Recent figures for the Index of Industrial Production are not very encouraging either. It will further lead to a surge of NPA.
Kyle Bass & Jim Chanos — Chinese Economy Collapse 2022 – Stock Market Crash .
Disrupting the Global Economy James Chanos and Kyle Bass speak with Bethany McLean at Vanity Fair’s New Establishment Summit on the global economy and stock markets. Is China in a economic Bubble? Jim Chanos and Kyle Bass reply .
Since no bank will survive in its present form, people need to think seriously about whether they should lend the bank any money. Bail-ins will certainly be back. Personally, if I gave the bank my money, I would ask for collateral in physical gold. With bank leverage of 10 to 50 times, how can anyone deposit money with them without taking security?
With the current state of most banks’ loan portfolios, no bank would stand today if they had to provide properly for all non performing loans. When credit losses increase, central banks will crank up the printing presses once again, but this time it will have no effect. You can’t solve a debt problem with more debt.
In any case, the world financial system has now has a serious disease that can never be cured. Rather than adding fuel to the fire, the only solution is to let the fire burn the whole system to the ground. That will get rid of all debt and that is the only way to clean up the gargantuan mess that governments and bankers have created in the last hundred years. Let the sick forest burn down so that fresh and strong new shoots can develop. The problem, however, is that when the debt implodes, so will all the assets that were inflated by this debt. That is why within the next 7 years we will see the biggest wealth destruction in history.
While today the U.S. is in a trade war with China, the foundations of international trade were laid to avoid war altogether. In this video, we will give you a quick rundown of the Bretton Woods System, the system of global trade that emerged at the end of WWII.
So here is a little history lesson , we are going to talk about the Bretton Woods system . so the year is 1944 the end of World War two was in sight the Allies realizing that they were going to win ,wanted to get together and talk about creating a world where war and depression could never happen again , they met in Bretton Woods New Hampshire , There they spent a month negotiating , there were 730 people or delegates from 44 different countries all our allies , and essentially what they did was create a three-legged stool a tripod of institutions to guide the post-war world , this is how that three-legged stool works today .
The first leg is the International Monetary Fund or IMF .the IMF works with countries that are having problems with money problems with debt and paying back the money that they borrowed and the IMF gives them advice on how to change their internal policies and structures in order to fix the problems that they’ve got .the second leg is the World Bank back in 1944 when the delegates met at Bretton Woods they realized that poverty is a big motivating force when it comes to conflict and violence and they decided that if they could help countries grow and create jobs there would be a better chance of peace , so the World Bank is primarily a lending institution with a goal of ending extreme poverty and it lends money to poor countries for economic development . the third leg of the stool as it stands today is the World Trade Organization or WTO the WTO promotes global trade and free trade and it also functions as a courtroom for member countries to resolve trade disputes with one another basically the WTO upholds the rules of international trade . So the money changers that financed both sides of WWII met in July of 1944 to figure out how they could keep their scam going.
This year French Finance Minister Bruno Le Maire has publicly admitted something normally reserved for backroom discussion in the circles of Europe’s governing elite at an event honoring the 75th anniversary of Bretton Woods . Le Maire stated ever-so candidly that “the Bretton Woods order has reached its limits. Unless we are able to re-invent Bretton Woods, the New Silk Road might become the New World Order”.
Le Maire dives so deeply out of reality that he actually believes that the radical transformation desperately needed in the west does not involve collaborating with the New Silk Road, but rather to strengthen the power of Brussels, while becoming more technocratic and more green (aka: de-industrialized, de-populated). The Bretton Woods of 1944 and New Silk Road of Today Seventy five years of revisionist historians largely funded by the British Roundtable/Chatham House and its American branch (The Council on Foreign Relations) have obstructed the true anti-imperial nature of the founding intention of Bretton Woods and the post war order centered on the United Nations. Then, much as today, two opposing factions were vying to shape the essence of the world order as the Nazi machine ,funded by Wall Street and London’s Bank of International Settlements ,was drawing to a close. I am not talking about Capitalism vs Communism.
This faction fight was between New Deal nationalists led by Franklin Roosevelt vs those racist imperialists represented by Sir Winston Churchill who wished to use the crisis of the war to establish a revived British Empire strengthened by American muscle. FDR’s New Dealers were characterized by their total adherence to the belief that the plague of colonialism had to be undone and a new age of long term development of great infrastructure projects had to characterize the community of sovereign nations for the coming century. These patriots believed in the internationalization of the New Deal, were committed to working with Russia and China as natural allies of America and profoundly distrusted the British. In the case of Bretton Woods, where representatives from 44 nations convened for two weeks to create a new post war system in July 1944, this fight amounted to a battle between FDR’s trusted economic advisor Harry Dexter White first director of the IMF and ally of FDR’s vice-president Henry Wallace and Lord John Maynard Keynes eugenicist, pedophile and defender of the British Empire. Bretton Woods was just an extension of 1913 Federal Reserve Act much related to JFK assassination and Nixon resignation prior to impeachment as the 1971 shock was supposed to be temporary as a result of staged Yom Kippur war to the staged OPEC boycott. Bretton Woods reached its limits in the 1960s and was abandoned to all intents and purposes in 1971 ,and the US dollar came off the gold standard in 1971. Coincidence? I think not.
This Is What You Must Do To Survive What Is Coming
So let’s come back to the silver lining and end on a positive note. In every crisis there is opportunity. The Greek word for crisis means to separate or sift and only keep what is worthwhile. And this is what the investors who want to survive the coming crisis must do. Get rid of all bubble assets and buy hard assets.
The controlled media tells us that it is a symptom of corporate greed and an accidental occurrence. The truth is that recently released central bank cartel documents show that the entire global financial melt-down in a purposefully engineered consolidation. The following is a transcript of an interview with award-winning investigative journalist Greg Palast in which Palast blows the IMF World Bank program of slavery wide open.
AJ: Burrow into NM Rothschild, you’ll find it all there. Go through these four points. You’ve got the documents. The IMF/World Bank implosion, four points, how they bring down a country and destroy the resources of the people. The US government has run up trillions of dollars in debt, and given the recent debates over the country’s debt ceiling, we can rest assured that neither Congress or the President will act to curtail spending and balance the budget. We will continue adding trillions of dollars to the national debt clock until such time that our creditors no longer lend us money. Lindsey Williams prediction prepper total collapse coast to coast am sheep sheeple ghost town hyperinflationary environment developing major collapses in the bond and stock markets and possible sudden deflation (primarily of assets), followed by dramatic inflation, if not hyperinflation (primarily of commodities), followed by a crash of several major currencies, particularly the euro and the US dollar.
This will begin with restrictions on foreign travel, including suspension/removal of passports Confiscation of wealth. The EU has instituted the confiscation of bank accounts, which can be expected to become an international form of governmental theft. Food Shortages Riots. These will likely happen spontaneously due to the above conditions, but if not, governments will create them to justify their desire for greater control of the masses. Martial Law. The US has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA)
Long-term food supplies, barterable goods, monetary goods, self defense armaments and having a well thought out preparedness plan The United States and Germany are prepared to engineer a coup in Greece to keep the country operating as a strategic asset on NATO’s vulnerable southeast European flank. Greek Military is an Operation Gladio Asset The wild breakout in German yields is rocking global debt markets, and giving investors an early glimpse of the uneasy future for bonds in a world of higher interest rates.
The Plan Has Been Revealed And Everyone Needs To Brace For The Impact. Gerald Celente breaks down the madness that is erupting all over the globe. Strife on a massive, global scale in on the way and if you are not prepared, then you are going to be swept away in it. Are you ready? The Trends Research is. Listen and learn.
In this video Gerald Celente explains the reasons why he thinks economic hell on earth is coming…
ECONOMIC COLLAPSE ~ ABSOLUTE PROOF FEDERAL RESERVE IN TROUBLE. They fattened us up on easy credit and now it is time to harvest the heard. There is no doubt The Fed is grasping for air. Floating the market now on news OPEC is talking about reducing production, boom Oil goes up taking market with it. Right, none of those producers are going to cut, guaranty it.
Then Trump proposes reducing Food Stamps and cut Entitlements in his budget. When this Debt Cieling approaches in September no way are ANY Democrats, nor some Republicans will vote for it, elections just around the corner for Mid Term. I see a system implosion resulting. So figure, if theres any way to prepare, time to do it is getting very short.
Prepare For The Imminent Economic Collapse & Stock Market CRASH! Mike Maloney, who has for years been predicting an economic collapse and stock market crash worse than 2008, says that the disaster is here. This is the first time in history that there has been in everything bubble. The year 2000 it was stocks in the year 2008 it was stocks and real estate this time it is stocks real estate and bonds and they’re all in some of the biggest bubbles of all time.
The Economic Doomsday is here. The second financial bubble is going to soon burst, and there’s nothing anyone can do about it. Geopolitical events are escalating amid saber rattling with Syria and North Korea – such events oftentimes result in market trends with key implications for global investors. Although the post-election rally in US shares is impressive, a reaction is necessary to sustain the upward momentum. Still, with sluggish retail sales via the “Retail Apocalypse,” Wall Street may continue to rally while Main Street stagnates. Global currency volatility is improving the appeal of alternatives, such as gold and Bitcoin.
Once the yellow metal crosses $1,400, Gerald Celente anticipates a new bull rally will drive the precious metal above the former 2011 peak to $2,000 an ounce. The Trends Journal compares cannabis legalization to 1933 and the end of prohibition. For instance, Canada recently decriminalized cannabis and many US states allow recreational / medicinal usage.
Colorado is earning more tax revenue on a medicinal herb than on toxic potent potables. Gerald Celente and the host question why yet another tiny impoverished county with millions of starving, honest, hardworking souls, is the target of the world’s most potent military force.
The Federal Reserve has set up the American economy for financial collapse for printing trillions of dollars back in 2008 and 2009. The next crash is coming, and the decision by central banks to paper over their economy’s troubles with a massive injection of debt likely means that the next economic collapse and stock market crash is already overdue.
The global economy is about to collapse into a depression worse than that of the 1930s, and its roots are deeper than trade wars, this according to Gerald Celente, publisher of The Trends Journal. “It’s one big scam, it’s ready to blow apart, it has almost nothing to do with trade wars and tariffs,” Celente told Kitco News. The “Greatest Depression,” as Celente calls it, will likely strike after the 2021 he said.