New data reveals a crash not seen since Great Depression could hit in 2024

[libertybele]

New data reveals a crash not seen since Great Depression could hit in 2024

As the White House continues to tout the alleged achievements of the president’s "Bidenomics" agenda, a growing amount of data indicates that a gigantic economic crisis could be right around the corner.

Most disturbingly, one important economic indicator that’s currently flashing hasn’t appeared since the 1930s, during the height of the Great Depression.

If the White House and Congress do not cut inflation-causing government spending soon, the results could be catastrophic.

In 2020, during the height of the coronavirus government lockdowns, President Donald Trump and the Democratic-led Congress spent vast amounts of money to keep the economy, financial system and stock market afloat. Trillions of dollars in additional government spending occurred, all of which was financed with debt and money printing.

The never-before-seen levels of money creation were fueled by policies set by the Federal Reserve, which encouraged Congress to spend more money and kept interest rates extremely low, despite warnings from economists about the threat of future inflation.

.............But rather than return spending to normal levels, Biden and congressional Democrats — with the blessing of the Federal Reserve — opted to keep government expenditures significantly higher than they had been prior to the pandemic.

The decision to continue high levels of government spending, coupled with the Fed’s choice to keep interest rates low and the fallout from the crisis in Ukraine, caused inflation to soar to levels not experienced in four decades. Prices for nearly all consumer items, from eggs and milk to gasoline, skyrocketed.........................

https://www.foxbusiness.com/economy/new-data-reveals-crash-not-since-great-depression-could-hit-2024

[catfish1957]

I've continously commented on this "can kicking down the road" exercise for years. 

Every financial parameter screams bubble.  The best analogy to use is our government basically are leaches, and these leaches are being used to treat the patient (U.S.) of it's economic ills.  There is only finite amount flowing blood (capital) flowing through the veins. 

And at some point these leaches are going to kill the patient.   What will it look like?  A lot will depend on how the Fed and the government in general decides to manage the disaster.  It might be in the form of a 1929 like crash, and a 75-90% correction in equity markets.

Or...  it might overwhelm us in the form of a tusnami of hyperinflation.  Think Weimar and Zimbawe.

There are almost an infinite things that may happen that triggers it.  A Chicom econmic collapse, at least at this exact moment seems to be the most likely of sceanarios.  Of course these things sometimes come out of the blue from an unexpected geo-political crisis too.

I know I am a major doom and gloomer, and some may take today's author with a grain of salt.  But all I have to say is those who don't take prep precautions may regret it down the road.

This same crash being discussed could and should have likely happened in 2009, until we QE'ed our national balance sheet to kazoo.

[libertybele]

I've continously commented on this "can kicking down the road" exercise for years. 

Every financial parameter screams bubble.  The best analogy to use is our government basically are leaches, and these leaches are being used to treat the patient (U.S.) of it's economic ills.  There is only finite amount flowing blood (capital) flowing through the veins. 

And at some point these leaches are going to kill the patient.   What will it look like?  A lot will depend on how the Fed and the government in general decides to manage the disaster.  It might be in the form of a 1929 like crash, and a 75-90% correction in equity markets.

Or...  it might overwhelm us in the form of a tusnami of hyperinflation.  Think Weimar and Zimbawe.

There are almost an infinite things that may happen that triggers it.  A Chicom econmic collapse, at least at this exact moment seems to be the most likely of sceanarios.  Of course these things sometimes come out of the blue from an unexpected geo-political crisis too.

I know I am a major doom and gloomer, and some may take today's author with a grain of salt.  But all I have to say is those who don't take prep precautions may regret it down the road.

This same crash being discussed could and should have likely happened in 2009, until we QE'ed our national balance sheet to kazoo.

@catfish1957  A 75% - 90% market crash is significant.  How do you prepare?  Everything into money market -- though I've heard that banks will become insolvent and rules are they don't have to pay you dollar for dollar.

If everything goes digital before the crash -- poof -- money will just disappear.

Precious metals? 

There's only so much dehydrated food and paper goods that can be stored.

Recovery possibly not in my lifetime anyways?

[corbe]

   That's what happens when you elect the 'King of Debt' as head of the Republican Party.

Donald Trump: I 'Love' Debt, I'm The 'King' Of Debt



https://www.youtube.com/watch?v=6HWI4Y6GWNg

[jmyrlefuller]

I guess if you keep saying it, eventually it will come true.

[catfish1957]

@catfish1957  A 75% - 90% market crash is significant.  How do you prepare?  Everything into money market -- though I've heard that banks will become insolvent and rules are they don't have to pay you dollar for dollar.

If everything goes digital before the crash -- poof -- money will just disappear.

Precious metals? 

There's only so much dehydrated food and paper goods that can be stored.

Recovery possibly not in my lifetime anyways?

Everybody's situation is differerent, so its kind of hard to find a one -size fits all.   Those are great questions.  In my situation, I favor farm land, precious metals, and equities that are sound, good, and have strong value to consumers.  If the worst happens, we will be in uncharted territory.  There are very few people left alive who have a real understanding of how things were during the depression.  I remember my grandparents description, and I hope if and when it happens, it isn't as severe. 

In my case, I also have an opeating potable water well, and enough personal land for a large garden, and orchard.  But there are plenty of resources out there on prepping which may be worthwhile.  We used to have a Briefer Victoria33, who was really into it, and had lots of great ideas.

[catfish1957]

I guess if you keep saying it, eventually it will come true.

Financial matters are cyclical. He seriously  kicked the can down the road in '08-09.  Another "too big to fail" bubble, might not be tenable, given this country's tally now on debt.

But one things is for sure, ever since the 1600's with Tulips, there have been many many ebbs and flows of econmomic fortunes.  The fact we haven't seen one excessive crash in over 90 years ?  There is a huge argument we are way over due.

[sneakypete]

@catfish1957  A 75% - 90% market crash is significant.  How do you prepare?  Everything into money market -- though I've heard that banks will become insolvent and rules are they don't have to pay you dollar for dollar.

If everything goes digital before the crash -- poof -- money will just disappear.


@libertybele

Makes no difference if it disappears or not because if  you  have any,it will  be almost  worthless when it comes to buying power,and the  truth  is there  really won't be that much  available to buy.

After all,factory workers don't work for free any more than anyone  else does,and if there is nobody around that has enough money  to buy  their products at prices that they are willing to work for,they are all going to be standing in the food lines with thee and me.

Precious metals?

 

Nope.

Who is going to have the money to buy  them at anything even  approaching  their worth?

There's only so much dehydrated food and paper goods that can be stored.


Not to  worry. Nobody  but the goobermint will be producing them,and you  can stand in line with the other proles to get your weekly allowance,while hoping they don't run out before they get to you.
 
Recovery possibly not in my lifetime anyways?
 

The "recovery" will start to happen  when the big boys think there is no more "juice to be squeezed out of THAT lemon".

Although I honestly think that there will be no such  thing as "America" when the eventual recovery starts. It will be named something like "The North American Economic Zone" and there will be a board in NYC and probably in Ca and Tx to control prices and who  gets to buy what is available to those "in favor" by our new Masters.

Every heard the expression "Good little boys and girls have good things happen for them,and bad little boys and girls just have to suffer from their bad choices!"?

Faithful,dedicated lefties will be running everything.

No  to  worry  though. Conservatives will always have jobs as long  as there are labor camps.

[jmyrlefuller]

Financial matters are cyclical. He seriously  kicked the can down the road in '08-09.  Another "too big to fail" bubble, might not be tenable, given this country's tally now on debt.

But one things is for sure, ever since the 1600's with Tulips, there have been many many ebbs and flows of econmomic fortunes.  The fact we haven't seen one excessive crash in over 90 years ?  There is a huge argument we are way over due.

Thank the move to fiat currency and the modern welfare state for that.

[roamer_1]

Well... DUH.

Sooner or later you run out of other peoples' money. -Maggie Thatcher

[Free Vulcan]

Well... DUH.

Sooner or later you run out of other peoples' money. -Maggie Thatcher

Things have spiraled this past year. Heck, just the past 4 months. We've got 3 years tops, and I expect the financial quakes to start in the next year.

The train is at the crash wall.

[roamer_1]

Things have spiraled this past year. Heck, just the past 4 months. We've got 3 years tops, and I expect the financial quakes to start in the next year.

The train is at the crash wall.

Perhaps... It will be manipulated again, JIT for the elections... And if a Republican ascends, more manipulation... So I can't make the call.

But according to Hoyle, the only way to stop inflation is interest rising above the inflation rate. Doing that now would undoubtedly spin us into a damn big depression - And that's the good way out, as bad as that is - Or let the inflation run to the actual inverse of the un-backed fiat distribution.,, which is where it will stop... and your dollar will not be worth using for toilet paper... Which is where we are likely going, because nobody has the balls to pull the trigger on a major depression.