by Jim Quinn, The Burning Platform:
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” – Ludwig von Mises
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Today is so reminiscent of the 2007/2008 time frame when it was clear to those of us analyzing the real data and observing what was happening in the real world that it was all about to come crashing down. The powers that be and their media mouthpieces kept assuring everyone that it was under control and not to worry. And then it all collapsed suddenly, like a covid vax recipient on a soccer field.
Politicians, bankers, and their media mouthpieces are going through the same exercise today. All is well. The stock market is at all-time highs. That proves everything is fine. It’s not. The next collapse is in motion, but the ruling class won’t let you know until they have positioned themselves to profit from your pain and suffering. Don’t believe a word they say.
Prepare for another 2008/2009 scenario, or worse. The last crisis was caused by too much debt. Global debt was $195 trillion in 2008. Today it is $310 trillion. The actions taken in the last 15 years by those running this shitshow were to increase debt by 60% in order to “solve” our debt problem. This collapse is going to be epic. There will be a huge chapter in history books about the delusional debt collapse of the American empire.
I was right in August 2008 and I expect I’ll be right now.
https://seekingalpha.com/article/88725-is-the-u-s-banking-system-safe
https://seekingalpha.com/article/92303-looming-financial-catastrophe-a-real-inconvenient-truth
https://seekingalpha.com/article/90892-the-great-consumer-crash-of-2009
Every Federal Reserve bubble ends in a large fraud being exposed. Rather than only corporations or banks cooking their books we now have governments cooking their books. https://t.co/AdNhebzbee
— Edward Dowd (@DowdEdward) February 16, 2024
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