Financial, Economic and Social Mood Update (November 1, 2024)
Bobby Kennedy, Jr. tells us that a vote for Kamala Harris is a vote for nuclear war: https://www.youtube.com/watch?v=2Vw9g59kJSQ. He is correct. The Biden-Harris Administration has brought the world to the brink of World War 3 in both Europe (the Ukraine) and in the Middle East (Israel versus occupied Palestine, Lebanon and Iran). A third potential major front lurks against mainland China over the issue of the Chinese island of Taiwan.
And the fact that nominal asset prices for stocks (S&P 500 Index on October 17, Dow Jones 30 Industrials Index on October 18 and the NASDAQ Composite Index on October 30) and real estate are at a record high does not erase the much more real fact that the global banking system teeters (USD $750 BILLION in unrealized real estate loan losses at American banks alone), that inflation in western countries has driven our cost of living to a record high, that home ownership & affordability is at a record low, that retirement savings is going down due to people pulling money out to pay basic current expenses and that the governments & and the media in the western countries tell us almost no truth.
The so-called mainstream media actually used to like Donald J. Trump before he entered politics in 2016. They turned forever against him during one of the early Republican Presidential debates in 2016 when he correctly said that the Iraq war was a huge mistake. The American government lied to the world about alleged “weapons of mass destruction” in Iraq when in fact Iraq had no such weaponry. The ultra-corrupt Bush and Cheney families wanted war against Iraq and they lied to make that war happen. The biggest cost of the war was the death of more than one million Iraqi civilians – this is literally blood on the hands of the Bush and Cheney dynasties. Their goals have never changed. Liz Cheney (the daughter of Dick Cheney) supports Kamala Harris today due to their commonly insane “neo-conservative” goal of fomenting World War 3 against the likes of Russia, China and the Islamic world. Any and all war is bad. Nobody has the right to wage war against anyone else. Nobody has the right to destroy another person’s home. The world is made up of mostly normal and peaceful people who merely want to live their lives.
The lies, the hatred and the vitriol of this so-called political campaign must end. The forces of the Deep State call Donald J. Trump a criminal, a fascist, a Nazi, a racist, a feminist and more – these are all lies and telling these lies should be made criminal. Donald Trump’s opponents claim he supports an alleged “Project 2025” which would turn the American Presidency into a dictatorship. This is FALSE. They claim he would outlaw abortion. This is FALSE – his position is to allow each of the 50 states to decide in their own state legislatures. Government should not meddle such personal issues and if the state legislatures are more prudent they will push such personal issues further down to the county and city level.
His only “crime” is to oppose a criminal regime in Washington and the criminal players behind it. Unlike the modern-day Democratic Party, the Republican Party does NOT have litmus tests – diversity is allowed. Non-white or Caucasian voter support for the Republican Party is at an all-time high and for very good reason. It is the Democrats who act as race-baiters – not the Republicans. It is the Democrats who play the evil game of “identity politics” – not the Republicans.
The American national election on November 5, 2024 is of utter importance not merely to America but to the entire world. All war is bad – no war is good. There is no such thing as a just cause that can justify starting a war with anyone else. And if a war is started the very first goal must be to step back, offer to negotiate and to end the war as soon as possible.
For thousands of years of recorded human history war has resulted in the slaughter untold hundreds of millions of human beings and other creatures. War has destroyed homes, livelihoods, families and their dreams for a future. Are we better off today than we were 4 years ago? NO. We are choosing either a more affordable standard of living versus the total horror of a Third World War.
On Digital Currency or “Crypto-currency”
I recently shared the following with a friend: I was invested in cryptocurrency – in Bitcoin and other coins such as BAT (Basic Attention Token for advertising), Decentraland (a NFT or nonfungible token for “imaginary” real estate), Orchid (a VPN or virtual private network for the Internet), Litecoin, AMP, ZCash, Etherium, DAI (a US Dollar stablecoin), ETFMG (for legal marijuana) and PAXG (tied directly to the price of gold) from July 2017 until November 2022. Thankfully I sold most of this before the collapse of Sam Bankman-Fried’s FTX. The smaller amount of money I had in PAXG was frozen from November 2022 until it was finally returned to me with interest in May 2024. FTX collapsed the Genesis system, which was promoted much like a bank CD for investors in the Gemini Trust Company of New York – owned by the billionaire Winkelvoss twins. The important thing here is that the market mania for cryptocurrency is over. The people who made the biggest profits were those who invested starting in 2009 and who sold out before November 2020 – 4 years ago. Prices for crypto are now at a peak much like the rest of the asset market – stocks, bonds, real estate. This will soon collapse to the ground. The things that will boom going forward include gold, other precious metals, similar collectible items and commodities such as the commodities for which we drill and mine – crude oil, natural gas and hard minerals.
