The Year of Cascading Crises

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by Jim Rickards, Daily Reckoning:

I often write about different crises, but usually one at a time. Whether it’s a market crash, recession, bank failures, etc. I take them on an individual basis.

But what about a cascade of crises? What about a situation in which one crisis comes after another for a prolonged period? Each crisis might be manageable, but the sheer volume of crises and their cumulative effect might push society to the breaking point.

It may seem hyperbolic at first glance, but it’s not — it’s entirely plausible. Now, I’m not necessarily predicting that we’ll get a cascade of crises. But it’s possible, and you should be prepared just in case.

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That’s because it looks like 2024 might be a year in which the crises do cascade. And the crises will not be natural disasters (although that could happen) but more like social and political disasters.

Here’s what might play out over the next 10 months and the reasons why:

Much of what is to come is in response to the likely victory of Donald Trump in the race for the presidency. One cannot overstate the sheer fear of Trump by the globalists, Davos crowd, progressives, climate alarmists, DEI gurus and just about anyone else who can’t stand Trump.

This fear often manifests itself in the form of Trump derangement syndrome (TDS), which is a genuine form of mental illness, not just a simple disagreement with Trump’s policies. And TDS is contagious.

I’m not saying this to defend Trump (he has many flaws); I’m just pointing out the degree to which his critics hate and fear him.

Confidence in the Rule of Law Is Gone

The key question is: “What would the anti-Trumpers in government and the media do to stop Trump?” The answer is: “Whatever it takes.”

Trump is not just an opposing politician; he’s an existential threat to a 50-year-old globalist, anti-nationalist agenda. To keep him out of the White House, his political opponents have resorted to lawfare: the use of law to handicap a political opponent.

We see this in the New York civil case in which a judge has now ruled that Trump and his companies must pay a $355 million fine (in addition to what may amount to $100 million in interest payments) for a non-crime. Trump simply did not commit fraud under any plausible interpretation of the law. No one even claims to have been defrauded.

There’s also the defamation verdict awarding $83 million to a plaintiff that is out of all proportion to any actual damages, and the classified documents case in Florida.

We also see elite attacks in the Jan. 6 case in Washington, D.C., the notorious Stormy Daniels hush money case brought by the biased and incompetent N.Y. District Attorney Alvin Bragg, the mass RICO case brought by the unethical and compromised Fulton County, Georgia, district attorney, Fani Willis — and finally the efforts to kick Trump’s name off the ballot using Section 3 of the 14th Amendment by claiming Trump is an “insurrectionist.”

Dubious at Best

All of these cases are legally dubious at best. I say that as an attorney with decades of legal experience. But in their zeal to get Trump, prosecutors and judges may have overreached.

The Washington, D.C., case may be dismissed because the U.S. special prosecutor was not properly appointed under Department of Justice rules. There are also presidential immunity issues pending before the Supreme Court.

Meanwhile, the Georgia case may also be dismissed because of unethical conduct and lack of disclosure by Fani Willis. Damages in the defamation case may be greatly reduced on appeal.

Likewise, the Stormy Daniels case is on thin legal ice. And the Supreme Court is likely to rule any day that the 14th Amendment insurrection clause does not apply to Trump’s actions.

Meanwhile, it’s difficult to see how the Florida classified documents case can result in a conviction after the kid gloves treatment given to Joe Biden in his classified documents case.

And Trump can appeal the New York civil ruling, although it’ll be more difficult than a standard appeal because under the statute, Trump would have to turn over the entire $450 million while the appeal is decided. Trump’s rich, but that’s a lot of money even for a guy like Trump to round up.

New York Gov. Kathy Hochul has assured nervous New York business owners that they have nothing to fear from this ruling, urging them to remain in New York. But that just proves that this case was about nothing more than taking down Trump.

The Damage Is Done

The fact that Trump may survive this legal onslaught (or issue a self-pardon upon election) does not alter the damage done.

Confidence in the rule of law has been badly eroded. The biased and unbalanced application of the law to Trump has increased the already extreme polarization that exists in the U.S. This polarization is the foundation for the other social dysfunctions to follow.

Here’s a summary of the social and infrastructure crises that may follow on the political crisis described above:

  • Energy shortages and blackouts due to Green New Scam policies and the simple physics of trying to maintain a baseline load in the power grid using intermittent sources such as windmills and solar
  • A new pandemic promoted to impose unnecessary lockdowns that act as cover for ballot-box stuffing, extensive ballot harvesting, drop-box abuse and other scams intended to rig the vote for Biden
  • A stock market meltdown as Congress tries to reduce out-of-control fiscal deficits and markets realize that excessive government spending was the only thing keeping the economy going in the first place
  • The rollout of central bank digital currencies (CBDCs) that will be used as a surveillance tool to identify those whom Biden calls “enemies of the people.” The targets will be Trump supporters and MAGA Republicans

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