Ron Paul Warns Of 1929 Era Depression Coming - Video

[Zippyjuan]

People now are much more dependent on the income as few provide own food . If the stock market corrects and you end up with 6 or 7 people looking for ea job opening it will be bad again . The economy has been mostly stagnant in growth for two decades so any setback can expect take years to recover .

Population is also growing considerably slower. It is hard to get 4% growth with less than one percent population growth. At that rate, even two percent is double the increase in population. Without immigration, the US population would be shrinking.

 

[oyarde]

Population is also growing considerably slower. It is hard to get 4% growth with less than one percent population growth. At that rate, even two percent is double the increase in population.

I have no real expectations that any of it will change for the better greatly . I think what we have is all it gets until it turns south .

 

[DamianTV]

Great Depression had 24% unemployment. Great Recession was 10% at its worst. Also in the Great Depression there was generally just one wage earner in a household- losing one person working meant a 100% loss of income. Social programs like unemployment benefits also made the effects of the Great Recession much less than the Great Depression.

Thats funny, because according to Shadow Stats, the site that uses the same math models as the govt used in the 80's, we are STILL at 22% Unemployment. Thus, we are STILL in a recession and NEVER recovered.

 

[devil21]

Has the December crash happened yet?

I'm gonna say 'yes'. Publicly announced PPT activation to provide that first (ever-constant-on-historical-crash-charts) bear market rally was the first sign. Bonds not responding to that PPT rally was the second sign. Trotting Powell out onto 60 Minutes is the third sign.

 

[devil21]

Some might even wonder if there's a symbolic message being imparted over Boeing 'crashing', considering Boeing is the heaviest weighted stock on the Dow index. One also might look at where Boeing is headquartered....even down to the zip code, if looking for symbolic messages.

 

[gaazn]

Guess this is what the $1000/month Freedom Dividend is for.

 

[devil21]

Boeing's new plane with a 5000 unit backlog is falling out of the sky. Must be time to upgrade Apple to 'buy' for no f'in reason. It's comical.

A few days later, the Apple "buy" upgrade proves an obvious market manipulation tactic, considering that Chinese cell phone imports saw a 20% decrease last month (YoY) and also explains why Apple has stopped providing breakdowns of their phone shipment numbers and destinations. But hey, Apple is a "BUY" suddenly according to BoA, the same morning that Boeing starts falling. When the manipulation becomes this obvious, it's gotta be close to the end of the cycle.

 

[Zippyjuan]

Gold up- it is the market and a wise investment decision. Gold down- it must be manipulation.
Stocks up- must be manipulation. Stocks down- must be the market at work.

 

[Firestarter]

Economists at Goldman Sachs Group Inc. said they expect the US to impose 10% tariffs on the remaining $300 billion-worth of imports from China AND on all Mexican goods.
Goldman Sachs lowered its US second-half growth forecast by about half a percentage point to 2% and said its sees a greater likelihood of interest-rate cuts from the Federal Reserve.

A global recession could start within nine months if President Donald Trump imposes 25% tariffs on an additional $300 billion of Chinese exports and Beijing retaliates, warns Morgan Stanley.
Morgan Stanley’s chief economist Chetan Ahya advised clients that if the conflict continues, growth will suffer as costs increase, customer demand slows, and companies reduce capital spending.
Ahya wrote in a report:

Recent conversations with investors have reinforced the sense that markets are underestimating the impact of trade tensions. Investors are generally of the view that the trade dispute could drag on for longer, but they appear to be overlooking its potential impact on the global macro outlook.

JP Morgan Chase & Co. said the probability of a US recession in the second half of this year has risen to 40% (from 25% a month ago).
JP Morgan Chief Economist Bruce Kasman and colleagues wrote:

Global growth now looks likely to slip below trend for the rest of this year.

The potential for a slowdown in the world economy was underscored Monday by weakening manufacturing gauges across Asia.
Government bonds yields have tumbled this year - and a key recession indicator, the gap between three-month and 10-year Treasury rates, is sending the strongest warning sign since 2007.
Strategists at JPMorgan and Citigroup Inc. predict even lower yields.

Analysts at Citigroup advise investors to buy US Treasuries, noting the last time the world economy looked as bad was at the start of 2016 - which was followed by a slowdown worldwide.
Citigroup’s director of macro strategy, Mark Schofield, explained:

That episode may provide a useful blueprint for the coming months. The U.S. economy has been resilient up to now, however, persistent themes of softening tailwinds in the form of declining fiscal stimulus and strengthening headwinds in the form of trade tensions and China slowdown, are a threat.

The Trump administration and China both blame each other for the breakdown in talks. According to the media, there are also tensions between the US and the European Union, while Trump is threatening to impose tariffs on Mexican goods: https://www.bloomberg.com/news/arti...s-recession-within-a-year-if-trade-war-builds

This could be a sign for a coming market crash (was this discussed at this year´s Bilderberg conference?).
US Corporate Debt peak precedes crash.

 

[Firestarter]

Trump’s trade war is conducted in a backwards manner. Household debts are climbing to an all time high. A large portion of US retail relies on loans; once debt grows beyond the consumers’ ability to keep up, retail sales start to decline. US consumers aren’t even using their credit to buy more products, but are probably borrowing more money to pay off old debts.
This credit “death cycle” (also) happened just before the crash of 2008.

The only people who will benefit from the the trade war are the elites.
To institute global centralisation, the elite need a complete crisis that can be blamed on others. They’ll use the threat that this will happen again, to demand intervention by international organisations like the IMF, World Bank and BIS.
The Brexit hysteria could help orchestrate the complete panic needed to collapse the “Everything Bubble” the central banks have created.

Here are trade war developments that suggest that “World War III Will Be An Economic War”:
Collapse Of Trade Talks

Abrupt Spike In China Tariffs
China’s Retaliation
Surprise Tariffs On Mexico
Tariffs Against India

Tariffs Against Australia
Trump Offers UK A Deal If They Brexit

Potential Tariffs On EU Auto Industry

Another way to bring complete chaos to the world economy, the “nuclear option”, is the threat of replacing the petroldollar as the world reserve currency. This is the one pillar left holding up US (economic) power.
The introduction of a new global currency system tied to the IMF Special Drawing Rights (SDR) basket has been insinuated over and over: https://www.davidicke.com/article/541553/trade-war-become-economic-world-war-iii


Less than 2 weeks after “they” discussed the market crash at the Bilderberg meeting in Switzerland, in some kind of media hysteria it is reported that 2 tankers affiliated with Japan were attacked in the Gulf of Oman.
Coincidentally, Japanese Prime Minister Shinzo Abe is for a 2-day visit in Tehran.

US authorities immediately blamed Iran, who denied involvement.
As a result oil prices jumped more than 3% in less than a day...

This comes hot on the heels of the hysteria on the supposed attacks on 4 oil tankers on 12 May: https://www.cnbc.com/2019/06/13/oil...s-of-tanker-incident-in-the-gulf-of-oman.html

 

[oyarde]

Gold up- it is the market and a wise investment decision. Gold down- it must be manipulation.
Stocks up- must be manipulation. Stocks down- must be the market at work.

Meh , ya just needed to buy stocks when the Dow was 7k and gold when it was 300 . Then its all good .

 

[Zippyjuan]

Meh , ya just needed to buy stocks when the Dow was 7k and gold when it was 300 . Then its all good .

Now where did I leave that time machine?

 

[oyarde]

Now where did I leave that time machine?

Well if people missed a 7K Dow or 1000 gold there are still opportunities . Guns , Ammo , some reasonable land , silver , whatever 401k match you get . Might not be the time to buy high P/E ratio stocks but there are other things .

 

[Zippyjuan]

Well if people missed a 7K Dow or 1000 gold there are still opportunities . Guns , Ammo , some reasonable land , silver , whatever 401k match you get . Might not be the time to buy high P/E ratio stocks but there are other things .

Buy and hold. Nobody can predict markets.

 

[Firestarter]

Donald Trump - Make America Broke Again

While President Donald promised to solve the debt, his reckless fiscal policies are piling on debt in spades. Donald still promises to make everything “great” in his second term as president...

On the eve of the Great Recession in 2008 the public and private debt burdens were far lower than they are in 2019.
In Q4 2007, public debt was $9.2 trillion versus $22 trillion in 2019, while total public and private debt has ballooned from $52.6 trillion in 2007 to $72.1 trillion today.
US Debt has reached $22 trillion nominally, but is actually going to $42 trillion in the next decade.

The low 2.0% seasonally adjusted annualised growth rate for Q2, is boosted by the 0.85% contribution to GDP growth from the government sector (that is paid for by more debt).
This compares to a 0.24% average contribution from the government sector during Donald’s first 9 quarters in office. If you only correct for the excess contribution (0.61%) from the government sector, there remains a mere 1.4% GDP growth rate.
The 1.8% gain in the year ending in June, is the lowest rate of gain since Q2 2014. The chart shows that Trump-O-Nomics hasn´t caused a sustained acceleration of growth, but a clear decelerating trend that should be a clear warning sign.

There will be nearly a $150 billion annual increase in defense spending by 2021!
Even in real terms the FY 2020 budget for defense and nondefense discretionary programs (red bar) will virtually reach the Obama level (green bar), which occurred during the depths of the Great Recession. Besides that, entitlements and mandatory spending will grow to an estimated $3.320 trillion in 2020, from $1.915 trillion in 2010 (a 74% increase).
The budget deal will bring discretionary spending to almost a new record...

If the bill – including tax cuts and increased spending – becomes law as expected, this will add another $4.1 trillion to the national debt until 2029.
More than half of that is due to increased spending and interest, NOT Donald’s tax cut, which is not working anyway. The pending spending deal (BBA 2019) will add $1.7 trillion, on top of the $445 billion added in last year’s deal.

Last week the US Department of Agriculture announced plans to will pay $16 billion (on top of the $12 billion already distributed) to aid farmers hurt by the trade war with China
Real business investment actually dropping 0.6% in Q2.

https://www.lewrockwell.com/2019/08...scal-miscreant-will-make-america-broke-again/

 

[Firestarter]

Even though the U.S. economy is expected to grow at an impressive rate of 2.2%, the Congressional Budget Office (CBO) predicts that the federal budget deficit will hit $1.02 trillion this year. CBO estimates that federal expenses will be $4.6 trillion, while revenues will hit $3.6 trillion in 2020.
Since 2012, this deficit wasn’t over $1 trillion and fell to $585 billion by the end of Barack Obama’s Presidency in 2016.

Federal deficits are expected to average $1.3 trillion annually between 2021 and 2030. By the end of 2030 this will push overall US federal debt owed by American citizens to $31.4 trillion, or 98% of gross domestic product.
That’s the highest rate since just after World War II, and “more than double what it has averaged over the past 50 years”.

CBO estimates that US federal spending will continue to grow more than revenues until 2050: https://www.reuters.com/article/us-...dget-deficits-to-top-1-trillion-idUSKBN1ZR2IC


Richard D. Wolff predicts a terrible crash, because we are already “overdue”, it will be much worse than 2008. We all know it’s coming, probably in 2020-2021.
The 2008 crash was caused by high debt, caused by too low interest rates. In general the debt level is too high.

There is a record level rate of default on student loans and other loans.
The society is too polarised between “right” and “left”; “rich” and “poor”.

 

[Firestarter]

I’m surprised not only that the eminent economic crash has been postponed, but especially by the way how it was done.
First the world economy was crashed by draconian coronavirus measures, and then the eminent crash was averted, by plunging the world deeper into debt.
When the debt bubbly (finally) crashes, it will be the greatest crash ever, with the middle class wiped out around the world, with every nation and most citizens having a debt block around their neck...


Just look at the skyrocketing private debt in the US until 2015 (even before the corona “pandemic”)!

The CRFB estimates that US debt will continue to grow to 118-131% of GDP by 2030.

The CRFB projects that US nominal deficits will never fall below their previous record of $1.4 trillion and will continue to rise, with US deficits 7.4% of GDP on average until 2030 (compared to a projected 4.8% before the pandemic was started).

• Deficits will expand by $5.7 trillion over the 2020-2030 window as a result of the current crisis and response to date, to almost $20 trillion under current law.
• The budget deficit will total $3.7 trillion (17.9 percent of GDP) in 2020 and average $1.6 trillion (6.3 percent of GDP) per year from 2021 through 2030.
• As a share of the economy, debt will grow from 79 percent of GDP before the crisis to 101 percent by the end of 2020 and 118 percent of GDP by 2030.
• By 2050, debt will reach 220 percent of GDP and deficits will total 14.4 percent.

http://www.crfb.org/papers/updated-budget-projections-show-fiscal-toll-covid-19-pandemic
(https://archive.is/jBd3I)

The scapegoating has already started. In almost every sector of the economy that is collapsing, the claim is that “everything was fine until the pandemic happened”. From tumbling web news platforms to small businesses to major corporations, the coronavirus outbreak and the subsequent national riots will become the excuse for failure. The establishment will try to rewrite history and many people will go along with it because the truth makes them look bad.

And what is the truth? The truth is that the U.S. economy – and in some ways, the global economy – was already collapsing. The system’s dependency on ultra-low interest rates and central bank stimulus created perhaps the largest debt bubble in history – the Everything Bubble. And that bubble began imploding at the end of 2018, triggered primarily by the Federal Reserve raising rates and dumping its balance sheet into economic weakness, just like it did at the start of the Great Depression. Fed Chair Jerome Powell knew what would happen if this policy was initiated; he even warned about it in the minutes of the October 2012 Federal Open Market Committee, and yet once he became the head of the central bank, he did it anyway.

For a year leading up to the pandemic, the Fed was struggling to maintain and suppress a repo market liquidity crisis. National debt, corporate debt and consumer debt were at all-time highs. Companies were desperate for new stimulus, and they were getting crumbs from the Fed, rather than the tens of trillions that they needed just to stay afloat. The central bank had sabotaged the economy, but they had to keep it in a state of living death until they had a perfect cover event for the collapse. The pandemic and inevitable civil unrest do the job nicely.

What many people do not understand is that the Fed does not care about the economy. In fact, every Fed action since its inception in 1913 has led to the downfall of the U.S. The Fed is not a maintenance man trying to stave off collapse; the Fed is a suicide bomber willing to destroy everything including itself in order to serve a greater ideology.

Total global centralization is the goal, and every new disaster is exploited to this end by the establishment. “Order out of chaos” is the motto of the global elites; in other words, in every crisis there is “opportunity”. This crisis has been no different. Suggested solutions have ranged from the creation of a cashless society operating on a digital currency system, to permanent lockdowns in the name of stopping “global warming”, to a surveillance state and medical tyranny utilizing 24/7 tracking of citizens in order to “stop the spread of the virus”. But how does the establishment plan to get people to go along with such freedom-crushing policies?

The pandemic by itself is not enough. The George Floyd riots may be a motivator, but they might fizzle out over time. The real catalyst, as I have said for many years now, will be an ongoing economic crash. This crash, engineered in 2008, has been a long time coming. Everything that is happening today is an extension of what happened over a decade ago. That said, the current phase was set in motion in 2018, as noted above.
The virus and the lockdowns solidified the crash, and for those people that were calling for a V-shaped recovery, I think it’s time they admit that this is not going to happen.

The latest Fed models predict a GDP plunge of 52.8%, and the manner in which the Fed calculates GDP is actually rigged to the upside. It is difficult to predict the REAL fall in data, but we know it will likely be larger than 52%. Keep in mind that this crash is in the 2nd quarter, while the Fed pumped trillions into the system. What exactly did this money printing buy? Well, stock markets stabilized, but the rest of the economy didn’t, and stock market optimism isn’t going to last much longer either.

The primary reason we now face a second Great Depression is because the small business sector has been destroyed. Small businesses are vital to the U.S. economy, representing around 50% of the job market. The closures have already resulted in around 40 million job losses in the past two months. Add that to the 95 million Americans that have been out of work but not counted by the BLS as unemployed – as well as the 11 million people that are counted – and you are looking at nearly 150 million working age people not generating an income.

https://www.theburningplatform.com/...ct-cover-for-the-collapse-of-the-u-s-economy/
(https://archive.is/efrcC)

 

[devil21]

Ron's dire warnings on behalf of Stansberry (sp?) investments have started showing up on midday CNBC broadcasts. I was pretty surprised to see him pop onto the screen and the ad has aired every day around noon since.