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Top Three Videos – November 23, 2023

John Rubino: Capitalism's Bleak Future: Homelessness, Inflation, Cryptocurrency

Financial Survival Network...

Summary

 
 

The current economic indicators and rising debt levels point towards a potential recession, and the best course of action would be aggressive antitrust measures to break up big corporations.

 
  • The juxtaposition of homelessness in a wealthy neighborhood and abandoned buildings highlights the stark inequality in society.
  • Homelessness and drug addiction should be treated as a mental health issue, not a criminal issue.
  • Inflation is disappearing and there may even be deflation in the year ahead, with recession indicators pointing towards lower inflation.
  • Lower corporate earnings, falling stock prices, and a bunch of crises that governments have to step in and bail out are indicators of a coming crisis.
  • The leading economic indicators are down for the 19th straight month, raising concerns about a potential recession.
  • Credit card debt is soaring, with a trillion dollars of debt and rocketing delinquencies, indicating a decline in consumer spending and a potential recession.
  • There is a possibility of a huge deflationary crash that could affect Bitcoin, Ethereum, gold, and silver.
  • “The best thing we could do in the US right now would be aggressive antitrust where we go in and break up big corporations.”

Brent Johnson vs Matthew Piepenburg: Debate On The US Dollar: Will It Soar Or Sink From Here?

Thoughtful Money...

Summary

 

The US dollar will continue to strengthen due to various factors, leading to potential global currency wars and the ultimate winner being gold.

 

The future of the US dollar

 

  • “The dollar milkshake Theory came from the fact that I think the US will drink the liquidity uh of the rest of the world.”
  • The US dollar and gold can actually go up together, rather than being solely inversely priced, due to various factors such as derivative demand, dollar demand, and the US dollar debt.
  • The milkshake theory is an exceptional diagnosis of the current state of the world in debt, currencies, rates, and Central Bank policy, but the question remains whether it is a prognosis for the next five to ten years.
  • “The Fed itself can’t endure a long dollar or a strong dollar and they won’t allow it.”
  • The US doesn’t have a way to pay for its own debt, and the FED will continue to kick the can down the road to avoid a crash.
  • The real tool that will weaken the dollar will be artificial liquidity synthetic liquidity that we can’t imagine.
  • “The current policy of raising rates to ‘fight inflation’ has caused yields to do more work than the FED funds rate, crushing the US bond market, and regardless of that, as the yields rise, the cost of Uncle Sam’s debt becomes unpayable.”
  • Brent Johnson recommends holding cash in US Dollars for both US and non-US investors, emphasizing the importance of short-term liquidity.

Impact of global economic factors

 

  • Other countries like Japan, China, and Europe may not sit by while the US weakens its currency, potentially leading to a global currency war.
  • “The collective GDP of the BRICS is going to be higher than the G7, if they can find a way to cooperate and make bilateral trade agreements outside of the US dollar.”
  • “I’ve said from the beginning that gold will be the ultimate winner. In all this.”
  • “When you weaponize a world Reserve currency, you create distrust in it.”

Potential consequences of currency manipulation

 
  • “Do you. Both see sort of a terminal inevitability coming up here for I guess. I’d say Fiat currencies in general but but even the US dollar the current regime will they’ll have to will there have to be some sort of monetary reset or or regime change.”
  • Increased centralized control is a characteristic of a fourth turning, and the populace starts demanding more centralized control as the old system falls apart.

Porter Stansberry: The Imminent Death of the Middle Class

Stansberry Research...

Summary

 

The middle class is facing imminent demise and individuals should prepare for a potential financial crisis by seeking independent financial advice and being aware of potential risks.

 
  • The imminent death of the middle class is a concerning reality that we need to address.
  • The unrecognized losses in the banks could lead to a major financial crisis, with the bond markets having a significant impact on the real underlying economy.
  • The imminent default rates and inflation could wipe out the middle class in the US.
  • Quality investing is hard to beat, but finding unrecognized quality that’s still affordable is the key to success.
  • NVR has averaged a return on equity of 50% for the last 20 years, making it a very successful business model.
  • The default rate is likely to go “absolutely Bonkers” due to excessive credit doled out during the covid bubble.
  • The imminent death of the middle class is tied to the entire collapse of credit, with no one in commercial real estate able to roll their obligations.
  • The FED wants you to believe they’ve got inflation under control, but I believe we’ve only seen the beginning of a devastating new crisis.

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