John 18:38 Pilate says to Him, “What is truth?” And having said this, he went out again to the Jews and says to them, “I find no guilt in Him.
Who is most concerned about YOU? Do you trust the Federal Government to take care of YOU?
What you decide and what you start to realize, is going to make a huge impact on the way you survive in the Economy in the next 18-24 months.
Now, the Government and Wall Street would like you to believe we are heading toward a soft landing; that continues to be the narrative. Now, there are lots of advantages for Wall Street and the Administration. The Administration does not want to be blamed for a bad economy and bringing a Recession to our doorsteps.
What you decide is going to make a huge difference for YOU!
There has been a soft landing ONE time in history. That was in the 1990’s.
We are currently experiencing historic interest rate hikes. Pay off your credit card debt immediately. Raise cash if you can.
Wall Street gets paid on your money, assets under management (AUM).
Michael Douville sees a hard landing coming. Bankruptcies are increasing. Stores are closing around the country. Shipping box production is declining rapidly. Manufacturing jobs are in contraction.
Interest on government debt is heading towards $1,000,000,000,000 (trillion) per year.
The definition is the problem; what constitutes “Unemployed”? There are about 35.5 million working aged people who are not in the workforce. They are not counted in the 3.5% unemployment figures. What are these people doing? They are not working, and not disabled, not stay at home parents; what are they doing? If they would like to work, yet cannot find a job, then the unemployment rate is waaaay more than 3.5%. Further, how can there be a robust economy with that number of people idle.
Jobs Report: 585,000 full time jobs lost: 972,000 part-time added, and 118,000 new multi-job workers.
Liquidity (cash) is coming out of the market at a record pace. It looks like a Recession coming to me.
Germany is already officially in a Recession.
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Paul Volcker absolutely destroyed my Real Estate portfolio. He destroyed my Real Estate practice and I lost absolutely everything. I was a very young man; a product of the 1980 to 1982 double recession. When Paul Volcker stepped on the Gas and raised interest rates and literally destroyed my Business, my Real Estate practice, my holdings. I lost everything. Paul Volcker raised interest rates to the point where everybody stopped.
In Chicago, there were 60,000 Journeymen Electricians out of work, steel mills closed, Bethlehem Steel and Republic Steel, closed. Auto plants closed, retail was affected, construction was affected. It was awful. I lost virtually everything I owned…
Current Chairman Jerome Powell’s hero is Paul Volcker.
I know what can happen.
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