The middle-class falls into a coma
Economic Collapse or Civil War Good Morning Reader, Happy Monday! We hope you enjoyed your weekend and you’re ready to take on the week with our hottest topics. Today, we’re going to cover issues like a move by the Biden administration that would hurt the economy, why the bank instability could lead to buyouts, how Apple is lifting the tech market and what has led to the downfall of major American cities. But first, James Howard Kunstler will show you what’s happening to our financial structure. It seems like what makes us money is becoming more detached from reality. And it could lead to the collapse of everything that makes our society thrive. Let’s get into it… | | | News: James Howard Kunstler – The Collapse of the West's "Business Model" At first, things such as stocks and bonds (ownerships and loans-at-interest) were firmly attached to activities in the real economy. Later on, the things which represented money became more numerous and more detached from real makings-and-doings, more abstract, more based on promises, hopes, and wishes than on things derived from nature. These newer representations of money tended ever more to a realm of the unreal. After a while, it became very hard to tell the difference between money-things that were real and unreal. The financial economy furnished plenty of mystification to blend the two. This confusion prompted plenty of fraud, a brisk commerce in unreality that produced winners and losers. And at the end… the business model that has propped us up for so long could be collapsing. The condition of our country is so grave now that the actual contest underway is not between political personalities that are paraded before us… But between economic collapse and civil war. In the latter race there will be a winner and a runner up, and it looks like the economic collapse is already well advanced. Inflation is crushing the middle-class and business activity of every kind — except maybe drug trafficking — is falling into a coma. ⇒ Read More Here | |
Politics: Dave Gonigam – How Will Biden Inflame the Bank Crisis? The White House is tiptoeing toward a fateful action that would make the bank crisis much worse. The Biden administration was closely monitoring the markets, 'including the short-selling pressures on healthy banks. The short sellers surely had a field day with the collapse of so many banks. Now there's chatter about a ban on short selling — a step that's sure to backfire badly, because it always does. ⇒ Read More Here | |
Retirement: James Altucher – Bank Runs, Bailouts, and Buyouts Bank runs are fueled by perception. When share prices collapse, depositors see that and get nervous, leading them to rapidly withdraw funds. Those withdrawals spook shareholders, who drive the price down further. It's the ultimate vicious cycle. More bank failures could be in the making. During periods of market instability or economic downturn, weaker or struggling companies may become vulnerable targets for acquisition by stronger firms. That brings James to his latest obsession… buyouts. ⇒ Read More Here | |
Markets: Ray Blanco – Apple's Earnings Are A Rising Tide While Apple's overall numbers were encouraging, they were only good versus expectations. With a struggling economy weighing on big businesses in every industry, Apple's service revenue growth slowed while its sales declined for the second straight quarter. The health of the industry's biggest company has long been a good, or bad, omen for its competitors. It seems so far, all ships are being lifted by Apple's rising tide… ⇒ Read More Here | |
America: Sean Ring – San Francisco Has Fallen… And It Can't Get Up! People and businesses are leaving San Francisco in droves, and it's pretty easy to see why. City mayors have been awful stewards of the places they've been entrusted with. And to charge residents and workers the taxes they do, without providing the safety needed to operate within the confines of their cities, really does mean taxation is theft. There's no good service that's provided for the tax take. And when the tax take is monstrous, people look elsewhere. Sean Ring doesn't expect this trend to end and looks toward NYC, Chicago and LA to be the next to fall… ⇒ Read More Here | |
That’s all for today, we’ll be back tomorrow with more of our top articles. Make sure to email us here with any questions or feedback. We look forward to hearing from you! Looking forward to your financial future, | | | | | |
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