Josh Sigurdson talks with author and economic analyst John Sneisen about the recent comments by Trump’s Chief Economic Advisor Larry Kudlow that there’s no recession in sight and such a crisis likely won’t happen until at least 2024.
Well let’s rewind to July 2007 when Ben Bernanke said the economic outlook looked great and that 2008 was going to be a great year for the economy!
Janet Yellen said earlier this year that we won’t see a crisis in our lifetime!
Ben Bernanke said earlier this month once again that the economic outlook looks great and that the economy will grow dramatically in the next few years!
Now Larry Kudlow is saying that all looks good and for us not to worry.
Well I would like to follow Lew Rockwell’s old rule which is, whatever the central planners say, believe the opposite!
We are watching the return of the banking crisis which never truly ended in 2008, it was just propped up and centralized into temporary recovery. The biggest problem with that is that when it comes down which it has to eventually, it’ll be a far bigger crash! The banks are insolvent and we are starting to see all the signs of the crumbling of the foundation.
Then there’s the fact that we just reached a 6 year high for interest rates which is getting crazier by the day! It’s a desperation move to avoid the inevitable negative interest rate policy of the future. When looking at the 1980s inflation chart on shadow stats you find that we are actually looking at around 10% inflation today rather than the 2.9% on the Fed’s website. This is a lot worse than it looks!
Then we have the hilarious recent article from Business Insider where we see Ben Bernanke, Timothy Geithner and Hank Paulson claiming that it’s important that we learn from the mistakes of the past. Isn’t that ironic? Meanwhile they repeat every mistake of the past, at least in their thought process during their many paid speeches.
Trump recently came out against the constant interest rate hikes at the Federal Reserve which we cover as well in the video.
The point is, all fiat currency eventually reverts to its true value of zero. It always has, it always will going back to 1024AD in China. This time is no different.
While the fundamentals are off the table due to the level of manipulation in the monetary system as well as in the markets and one simply cannot put a date on the crash, we know it has to happen eventually.
So it’s irresponsible for these central planners or independent media to say it’s 2024 or next week. It’s more likely sooner than later, but we cannot underestimate the intensity of modern day central planning. However, it’s very likely that we’ll see technological decentralized replacements grow at a rapid rate over the coming years which will bring the global centralized system to heel.
Individuals must be self sustainable, independent, decentralized and educated. It’s the greatest path towards freedom of the individual away from this massive collective we call government and central banks. We can do it. It’s better to be over prepared than under prepared in the long run.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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