Several large banks in China, the largest so far being Evergrande, have declared bankruptcy. Apparently a large number of Western financial institutions and banks have invested heavily in those institutions. Unfortunately, domestic creditors in China will be serviced first as the Chinese government attempts to bail out these institutions leaving Western creditors holding the bag. The U.S. Federal interest debt payment has doubled since 2020 and now is the largest part of the U.S. government payment exceeding the Defense Department and exceeding one trillion dollars. Credit card debt is a record levels, and student loan payments are about to restart. BRICS meeting to dismantle the Western hegemony will begin soon, and wars going in all areas of the world. Argentina has just instituted food price controls in an attempt to prevent food prices from growing out of the people's reach, and Zimbabwe (of all places) has begun a gold-backed currency to stop inflation there. CBDCs (Central Bank Digital Currencies) are being readied throughout the Western World as governments see their currencies collapsing in the wake of the Ukraine War. What's next?
The stuff this guy says still worries me, mainly because it’s his computer that is predicting all this stuff. Apparently it has been good enough at this to attract international attention. Should be interesting to watch. Times are so weird, so different from the past, maybe his computer’s forecasts will be off. It should be interesting to see. “We have virtually every conflict in our database since ancient times. These forecasts are NOT my personal opinion. Socrates is by far the most sophisticated and accurate Artificial intelligence system on the planet. That’s why all the powers tune in. Personally, I am ready for Scotty to beam me up. I have had a psychic write-in and say I am some old soul, and I volunteered for this. My reply is I must have been drunk, or I misunderstood. This is NOT my opinion against someone else. Sorry! Here are just five models from five important events, and they are ALL projecting targets from mid-2024 until January 2026.” https://www.armstrongeconomics.com/world-news/war/when-will-the-great-unwashed-wake-up/
2032 is supposed to be the drop dead date. “This was the wave of human rights and it moves into its culmination come 2032 with the rise against human rights and the attempt once more to suppress the people with the rise of authoritarianism. This is once more a major turning point, and we will face a dramatic change both economically and politically on a global scale.” https://www.armstrongeconomics.com/armstrongeconomics101/ecm-armstrongeconomics101/what-is-2032/
I have to admit I don’t either. I post a lot of his stuff hoping that someone who subscribes to his site and gets the inside information, might be able to explain it to me. All I know (I think) is that his computer system looks at private and public cycles of economic and trading activity on a global scale and discovered repeating cycles throughout history. Major upheavals have occurred when several of those cycles converge in time, and a really big convergence is supposed to occur in 2032.
Another little red flag showing up…note that this was as of 2022 https://twitter.com/Hedgeye/status/...accounts-signaling-economic-challenges-ahead/
Hardship withdrawal rate? I don't understand the term. Is it people not spending because the can't any more? I taught my kids to do without if they didn't have the money. One didn't listen and I think she thinks loans of all sorts will be forgiven. Two of my kids can do without forever, I think, as can I. I have set things up to save us for a while (with a farm) and we may all have to live together eventually, but that is OK.
It’s the term used to describe when people are pulling money out of their 401Ks to address current debt. The 401Ks were supposed to be for retirement, now folks are having to pull out money saved for retirement to pay current bills. This shiny economy has a lot of rot just below the surface.
Oh, I don't know. I'm sure I heard the White House spokesperson telling us that the country has never been as financially stable as it is today.
I keep seeing warnings everywhere and it seems to me our politicians are more worried about superficial trivia than bankrupting the entire country. We have no leaders, only posers and dilettantes. https://www.investors.com/news/econ...get-deficits-mean-for-the-economy-and-sp-500/
Politicians are not worried at all. The plan was to destroy nations, get control of food and energy by the WEF or whomever so that we can have nothing and be happy. You can see it on their site and in Agenda 21. Destroy every one in debt and build a new world order. Bring illegals into every country and maybe have a war or two. I bought rainbow carrot seeds this year. Trump is our last hope. That is why they are going after him incessantly.