Financial, Economic and Social Mood Update (February 1, 2024)
The Dow Jones 30 Industrial Index hit a record nominal high of 38,588.86 on January 31, 2024 and the S&P 500 Index reached a nominal high of 4,931.09 on January 30, 2024. According to Elliott Wave technical analysis the stock market has never been so severely overly bullish or overbought. We can make the same statement for virtually all classes of assets including for real property. The cryptocurrency market is performing no differently from the rest of the market – it is very closely correlated with the overall asset market. In fact the cryptocurrency market is even more closely correlated with the overall global stock market, which hit a nominal peak about two years ago toward the end of 2021. The overall global stock market is 48 percent below its record nominal high from December of 2021, and the overall cryptocurrency market is 76 percent below its record nominal high from November of 2021. We are witnessing nominal & real bear market retracement – this is not a real bull market.
The following video from Elliott Wave International of Atlanta (less than 4 minutes long) articulates the problem we have today where too much real estate is owned not by homeowners, but by so-called “investors.” When too much property is owned by the latter, the real estate market behaves and performs like the stock market – in other words, it is subject to boom and bust which can destroy values for many homeowners: https://www.elliottwave.com/articles/u-s-real-estate-a-24-problem/?utm_source=com&utm_medium=eml&utm_campaign=ar-frup&utm_content=frupbsrealestate240104.
The following excellent video interview of retired US Army Colonel Douglas MacGregor by Judge Andrew Napolitano (34 minutes long) clearly illustrates how the western world order led by the USA and its lackeys in Europe, North America, Israel, Japan, South Korea, Taiwan and the Philippines is on its last leg: https://www.youtube.com/watch?v=GqNWKJENDLY.
The war in the Ukraine is lost to Russia (and Russia NEVER should have been provoked by the west into this war in the first place). Civil unrest in countries such as the Netherlands, Belgium, France, Germany, Italy, Spain, Portugal, Poland, Romania, India and even Switzerland illustrates how the failed European Union (EU) and North Atlantic Treaty Organization (NATO) are now on their last leg. Countries such as Sweden and Finland (long neutral and at peace) are now tempting fate by taunting Russia as did the now defeated Ukraine.
Both Europe (30 million illegal immigrants) and the USA (40 million illegal immigrants in the USA or 12 percent of the entire US population) are self-destructing by opening their borders to an unlimited number of illegal immigrants from all over the world, most of whom are not financially independent and most of whom having no desire to integrate into western society. Kudos to the 700,000 patriotic American truckers headed to defend the US border with Mexico and ditto to the even larger number of farmers protesting their own criminal governments mostly in Europe – protesting not merely illegal immigration but in a much larger sense the criminal agenda emanating from the World Economic Forum (WEF) in Cologny and Davos, Switzerland.
The war in the Middle East has now devolved into a war of attrition which Israel, the USA and the EU (NATO) will lose. The political power structure in the Islamic World (1.9 BILLION people) backed by Russia, Mainland China and much of the Eurasian continent (the overwhelming majority of humanity on planet earth – 75 percent of humanity) have now decided that the post-World War One (1914-1918) and post-World War Two (1939-1945) political structure have come to an end………………….which will mean the end of Israel as it has been known since 1948. Rabbi Yisroel Dovid Weiss has the right idea about an end to war and to people living in peace: https://en.wikipedia.org/wiki/Yisroel_Dovid_Weiss.
The bottom line is this. Virtually every single war that has been fought in the entirety of recorded human history ought not to have been fought. The overall situation and the lives of most human beings on this planet are usually WORSE (and not better) after the end of every single war.
From the standpoint of the western world (western civilization in general) rolling back the clock to before the start of World War One in the fateful and tragic summer of 1914 would be a good thing. It was a much more stable world compared to what exists today. The problem it needed to address is that the majority of world’s population (non-Europeans or non-Caucasians who lived under western authority) were minimalized in terms of their political privileges and economic livelihood. That situation will not be repeated today at least because these parts of the world (eastern civilization and the southern hemisphere in general) are no longer as undereducated or as powerless.
Our world is now undergoing a tremendous amount of traumatic change, some of which we can influence and much which we cannot. The world of future which we must start building today must be a world free from war and free from financial corruption. It must also be a world in which we view each other not as members of groups (“identity politics” as we know it today must cease to exist) but as individuals…………………..it reminds me of what the late Reverend Dr. Martin Luther King, Jr. said in his “I have a dream” speech.
