The Greatest depression is coming, are you ready?

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There you go, finally a balanced budget!

Yep, Joe Biden has a plan to balance the budget.

How do you squeeze blood from a stone? Biden has figured it out. Sure inflation is causing everything to cost more, but for people who own something of value like a house, or stocks or some other asset you can tax that increase due to inflation! This is brilliant. Some of course will try to cheat the tax man by not selling, so then he wants to also create a whole new tax on "unrealized gains". This guy makes Bernie Madoff look like an amateur.

 

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Hey at least we can trust the Biden administration

to rob taxpayers.

 

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It takes 17 minutes for him to get to the point which is our money supply is shrinking (he explains why) that in turn is not a big deal because prices will go down, wages will go down, but the amount of goods remains the same and standard of living stays the same. However, the price of paying off our debt does not go down. So now we have fewer dollars paying the same interest payment, it is as though our debt increased. Add to that fact that our debt is increasing and it is a double whammy.

Now if you understand what I just said, great. If not he does a very nice job explaining it in 17 minutes right here.

Oh yeah, and one other thing, we are talking about $1 trillion gone in a very short time that many people aren't even accounting for, so the size of this problem is really big.

 

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Wow! California has the Best McDonald's restaurants! The Egg McMuffins are so good there they cost $10 each and the Big Mac's are $20!. The secret is they are using real Chefs, these guys make $20 an hour!

Oh wait...I think I may have misunderstood.

 

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If you think of the 2017 eclipse that went over Washington DC as a 7 year warning the dollar has dropped in value relative to gold by 45%. There are prophecies that when it drops by 50% you will see the total collapse of the US dollar.

 

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https://rumble.com/v4vc2il-e.j.-ant...ion-affecting-americans-ignored-in-biden.html

E.J. Antoni Reveals The Real Inflation Affecting Americans, Ignored In Biden's CPI

 

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The Government reveals the CPI and they cannot lie about this:

 

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An intense drought has led to a 36% decline in traffic for the Panama Canal, one of the most important maritime trade routes in the world. Officials have denied ship crossings 36% as the canal has decreasing water levels from the drought, The Associated Press reported.

Meanwhile, the traffic on the Suez canal has been halved

According to the MSTA, which was released this week, this traffic more than halved between mid-December and April 1 and this decline “has resulted in a significant revenue loss for Egypt, totaling $1.2 billion by late March 2024

 

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Federal minimum wage in

2020 -- 7.25
2024 -- 12.00

That is a 65% increase.

California wants to implement $25 minimum wage this year. Why are they so desperate to double the Federal minimum wage. Instead of stupidity I would suggest that this helps their robot and AI industry in California as it becomes very economic to replace minimum wage workers with AI and robots.

 

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Here is what I don't get, most of our debt is now being issued in 90 day bonds. We have to refinance 33% of our 34.5 trillion debt in the next 12 months. Why not issue 20 year bonds? Aren't all these investors listening to Biden explain how strong our economy is? Don't they realize how strong our employment is? Didn't they hear Biden say he had reduced inflation from when Trump was president?

 

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Thank you Joe!

Joe Biden declares tariffs on China and they respond by selling $50 billion in bonds! We just lost one of our major buyers of debt right when we need to refinance $11 trillion a year in debt!

 

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California's NEW $23 Minimum Wage Is Now OFFICIAL

The result will be things will become more expensive and more people will lose their jobs. So unemployment will go up and inflation will go up.

However, it will be very good opportunity for those who sell robots and AI.

 

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Silver has gone up 47% since Feb 13, 2024.

That is not because of any issue with silver but rather because the US dollar is being devalued. However, it might also be because AI is creating a huge demand for CPUs and silver. Gold has gone up 20% in that same time frame. However, gold has gone up 48% since October 2022. That tells you the true devaluation of the US dollar. We have lost almost 50% in the last 18 months.

 

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Now here is a really big domino about to fall

Gold was $1,640 an ounce 10/1/2022

A 50% decrease in purchasing power by the US dollar would be $2,460 an ounce

Today Gold is $2,369 an ounce, hitting $2,438 just this week.

Brad Garrett on Future Finances 05/23/2024

Think of this as a global tug of war over the reserve currency. BRICS is the smaller guy. The US and the West is like 55% and BRICS is 45% so you would superficially think the West wins. But the rise in the cost of Gold and Silver is proof the BRICS team is pulling the US dollar down and slowly to the mud hole. Once the dollar loses 50% of its value relative to the cost of gold then the West team starts falling into the mud hole and you can be sure the slide will happen real fast. Now the Iranian president dying, do you think that will cause the US dollar to slide more? Hmmm.

BTW this is based on an article in Bloomberg news, not exactly sensationalist.

However, I also look at silver, not as a measure of the dollar's inflation, but because with AI it has become as critical as oil to this new AI economy.

10/10/2022. Silver was $18 an ounce.

A fifty percent drop in the dollars purchasing power would be silver at $27 an ounce.

Today silver is $30.845 an ounce