Monday, August 5, 2024

The Greatest Crash

When US markets are at their highest levels ever, not because the fundamental value actually had risen, but because the US Dollar has been so devalued, stocks have only one way to go. With thirty-five trillion dollars in debt, what we face is a larger hole than the entire productive economy. Americans can't afford or sustain this. This is a depression in the making, but it was not from investor over-exuberance or consumerism gone wild, but insane and out of control government spending, and unrestrained printing of increasingly worthless fiat currency, along with measures by the Federal Reserve that were meant to tamp down over spending and stock speculation that was not the cause of our current difficulties because in this instance, it was not happening. The government made a bubble with stupid economic and monetary policy that was bound to burst. 

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