Posts by Marc Nonnenkamp

Financial, Economic and Social Mood Update (July 1, 2023) This recent video from Elliott Wave International of Atlanta clearly and graphically illustrates just how weak the American economy and employment market are today – job openings or “help wanted” are now at historically low levels regardless of what is reported in the so-called “mainstream media”:  https://www.elliottwave.com/Economy/Have-You-Seen-This-Chart-About-US-Job-Openings?utm_source=com&utm_medium=eml&utm_campaign=ar-cotd&utm_content=cotdrfjobopenings230531. Yet another disturbing trend in the economy is the fact that brand new real estate costs significantly more to build than it is worth to sell in today’s market.  Commercial real estate in the USA already has an astounding 50 percent vacancy rate, and in the residential real estate market this figure is 14 percent.  The latter figure is largely due to the fact that many more affluent people have more than one residential property, and that they have no desire to rent those additional properties.  In any case, building material & labor costs are such that all real estate cost much more to construct than it is really worth – this holds true for high-end real estate all the way down to so-called “affordable” housing.  If you purchase a good insurance policy for your property, you should notice that the entire “blanket” policy is worth much more than the actual property is worth.  You will need this coverage in case of emergency, disaster or tragedy because it will cost much more to rebuild the same property from scratch – more than the property is actually worth.  For modestly priced homes this “surcharge” will be from 30 to 40 percent more than the property is actually worth.  For high-end real estate the same “surcharge” will be much more – say up to 200 percent more than the property is worth.  To make a long story short, this tells us that this is NOT a…

Financial, Economic and Social Mood Update (June 1, 2023) The Biden-Harris Administration in Washington and their lackey allies around the world are headed for a train wreck of historical magnitude.  The G-7 nations (the USA, France, Canada, Germany, the UK, Italy and Japan) produced 70 percent of global GDP in 1976 – that has since fallen to a paltry 27 percent.  117 countries have an inflation rate lower than in the USA.  The number of countries which have already abandoned the US Dollar for purposes of global trade & reserve currency status stands at 81 and this number is growing daily.  Never mind the theater in Washington, D.C. – the USA has been and is already bankrupt for all intents and purposes.  It is not just that inflation is too high – the overall cost of living and asset prices are astronomical and they must come down to the ground.  Credit must be deflated and the cost of money must go up – interest rates need to continue to rise.  Here is a short article about the possible US debt default from Elliott Wave International of Atlanta:  https://www.elliottwave.com/Economy/Hope-for-the-Best-Prepare-for-the-Worst?utm_source=com&utm_medium=eml&utm_campaign=ar-ins&utm_content=insdebtceilinggmp2305. This nightmare scenario plays out not just in the political capitals of the G-7 countries and not just in collapsing economies – it also plays out in the utterly dangerous, nonsensical, needless, useless, destructive and immoral Ukraine War which threatens to grow into a 3rd World War due to the reckless policies of the USA and her lackey allies.  As the former Third Reich did under Adolf Hitler, the current administration in Washington, D.C. is moving toward an utterly mad & insane 4 front global war.  The Eastern front is against Russia and her allies in Eastern Europe, Central Asia, the Middle East and Africa.  The Western front is against Mainland China…

Financial, Economic and Social Mood Update (May 1, 2023) There are important signs that the both economic-financial and the geopolitical fronts of the western world are starting to buckle (i.e. collapse) in a significant way.  Both the seaports on the east coast of the USA (the largest being Norfolk, Virginia) and on the west coast of the USA (the largest being Long Beach, California) are unusually and abnormally quiet.  The main reason for this is that consumer demand is weakening by the day – the resources of the consumer have been spent and there is not much left in reserve.  Consumer spending comprises 70 percent of GDP or Gross Domestic Product. Major retailers like Walmart are closing stores in big cities or even pulling out altogether – specific examples include Chicago, Illinois and Portland, Oregon, respectively.  Target is planning major staff (or paid hour) reductions in employment.  Kroger (the 2nd largest supermarket grocery store chain in the USA) just announced miserable results for the most recent quarter as did D.R. Horton (the largest homebuilder in the USA).  Cumulative job cuts at large corporations have reached almost one-half million employees, the biggest number of these coming from Amazon.com.  Inflation and an already very high cost of living remain serious problems – the latest annually adjusted figure out of the United Kingdom is 10 percent………………….and we all know that the real numbers are far worse than the “official” numbers regardless of country.  44 percent of US workers are working two or more jobs – not by choice but by necessity. 39 percent of American households have actually skipped a meal to afford their house payments – in households headed by young adults this figure is an astounding 44 percent.  14 percent of American homes are now vacant (along with 50 percent of…

Financial, Economic and Social Mood Update (April 2, 2023) Inflation (or more accurately: the loss of purchasing power) in North America, Europe, Australia and other countries tied to the west is in no way “transitory” – on the contrary, it looks to be permanent and getting worse by the day.  In your own lives, look at the prices in the grocery store, for your monthly utility bills and for insurance – especially something like homeowner’s insurance.  All of these prices have literally skyrocketed over the past few years. The political & the financial system power structure in the western countries appears to be collapsing by the day as well, driven largely by an insane desire to promote conflict with and in much of the rest of the world.  The power structure “on the other side” is becoming ever more independent from the west, specifically from the post-World War 2 hegemony of the American Dollar.  The illegitimate Biden regime in Washington, D.C. is now presiding over the collapse of the American Empire which has ruled the world since 1945. This “other side” power structure can be seen emerging most clearly in institutions such as the “BRICS” countries (these are Brazil, Russia, India, China and South Africa), in the SCO (the “Shanghai Cooperation Organization” which includes almost all of Asia) and in the Chinese BRI (“Belt and Road Initiative”).  Note – BRICS actually includes the 5 main founding nations plus 3 applicant nations (Algeria, Argentina and Iran), 5 more nations which have officially expressed interest in applying for membership (Afghanistan, Egypt, Indonesia, Saudi Arabia and Turkey) and finally 6 additional nations now in official dialogue for BRICS expansion (Kazakhstan, Nicaragua, Nigeria, Senegal, Thailand and the United Arab Emirates). The Belt and Road Initiative includes most of Asia, South America, Oceania, Australia, Europe,…

The US Department of Labor claims that a record 160 million Americans are employed, but this figure “double counts” people with more than one job.  Furthermore, most large corporations are either laying people off or they have frozen hiring.  Both the very important real estate sector and the automotive sector have severe levels of over-capacity.  For instance, roughly one half of US commercial real property is currently not being used.  The largest US homebuilding corporations are seeing more than two-thirds of their existing new home contracts cancelled by buyers.  Potential buyers are pulling back due to job layoffs and due to their diminished purchasing power.  The following excellent video by Elliott Wave International of Atlanta, Georgia clearly demonstrates how one asset market went from a market value of USD $18 TRILLION to ZERO in just 2 years (the global market for negative yield bonds).  Note that this historically odd market was created by world governments flooding markets with “printed money” or easy credit, which is not a normal or healthy situation and which could not last forever:  https://www.elliottwave.com/Market-Trek#15?utm_source=com&utm_medium=eml&utm_campaign=ar-ins&utm_content=insightsmarkettrekepi16. Emerging World War 3 I wish that this were not happening, but it is.  The countries in the west are being led by people who have no experience with or memory of war – hence they no longer fear what every rational person should and must fear.  The foreign policy of the west is doing the bidding of the all-powerful and all-evil World Economic Forum (WEF) led by Klaus Schwab in Switzerland.  This policy threatens to basically “colonize” much of the rest of the world and absurdly attempt to remake it in the image of the modern-day USA, the mainstream media and Hollywood – hence the threats to promote “regime change” in countries such as Russia, the countries of the former Soviet…

Financial, Economic and Social Mood Update (February 1, 2023) The deceptive bear market rallies in the stock market cannot mask the truth of a very sick economy at the start of New Year 2023.  Bear markets are notoriously known for violent bear market rallies which trick very many people to get back into the market – the exact same thing happened during the Great Depression stock market from 1929 to 1949 – and yes, the market did not fully recover for 20 long years during that momentous & traumatic time in human history: https://www.elliottwave.com/Metals/How-Countertrend-Rallies-Can-Slyly-Lure-in-Investors?utm_source=com&utm_medium=eml&utm_campaign=ar-frup&utm_content=frupbscounterrally230126. One of my subscribers recently asked me if I thought that Bitcoin BTC (which rallied as high as USD $20,000 on January 14 – and yes, a digital asset like this trades 24/7) will still go to zero.  My reply is that I believe NOBODY should have anything to do with any cryptocurrency henceforth.  Many people did make a killing in these digital assets, but those who did so got in especially in the beginning.  The Bitcoin BTC “white paper” was released in 2009, private trading among pioneers took place from 2010 to 2015 and members of the public who did get it should have done so in 2015 & 2016.  Most investors who purchased cryptocurrencies after 2016 either broke even, lost a little or lost their life savings.  On January 13, 2023 the SEC (Security and Exchange Commission) sued both the Gemini Trust Company (owned by the Winkelvoss twins) and Genesis (owned by Barry Silbert who along with the Winkelvoss twins ranks among the 7 biggest US Dollar billionaire investors in cryptocurrency) due to the insolvency of the former “Gemini earn” program in which investor money has been totally frozen since November 16, 2022.  As I have said, all cryptocurrencies and cryptocurrency “exchanges” have been…

Financial, Economic and Social Mood Update (January 1, 2023) The deceptive bear market rallies in the stock market cannot mask the truth of a very sick economy at the start of New Year 2023.  According to the swiftly.com retail industry site, 70 percent of Americans are now struggling to pay their weekly grocery store bills, and 83 percent of consumers rely upon food discount coupons & supermarket retail brand name loyalty programs to put on the dining room table.  CarMax, the largest used vehicle retailer in the USA with 238 auto dealerships (they sold 750,000 vehicles in fiscal year 2021) reported a 3rd Quarter 2022 sales decline of 21 percent and an 86 percent collapse in net income. According to the MHFIN channel on YouTube, the coming ten year period until the year 2032 will be a “lost decade” for the real estate market due to collapsing demographics, deflation & collapsing asset prices:  https://www.youtube.com/watch?v=5kiKmQPeWKU. The cryptocurrency market is for all intents & purposes dead in the water, with digital currency trading platforms freezing customer accounts (many customers simply no longer able to access their money or having just limited access to their investment accounts per this FORBES article):  https://www.forbes.com/sites/ninabambysheva/2022/12/13/binance-pauses-usdc-withdrawals-sees-3-billion-in-outflows-since-yesterday/?sh=3e8a67b71f27&fbclid=IwAR19IqGpsLIrKwNcAbA6V5W_5pHyW1rdZP_wpNzXkakuNsnJSM6Unukg3fk. Cryptocurrencies & their exchanges need to be regulated no differently from commercial banks, complete with regulatory fees & capital reserve requirements.  They have thus far been operating like commercial banks with very little regulation and almost no investor (depositor) protection.  The 10 major cryptocurrency “digital asset” coins have lost more than 86 percent of their value since November 10, 2021 and they will never recover – they might not even last very much longer. The overall stock market & the entire cryptocurrency market have been strongly correlated since early 2018 per Elliott Wave International of Georgia, which means that so-called electronic…