Financial, Economic and Social Mood Update (May 1, 2024)
The mainstream media tells no truth and continually spews lies about the economy of the west in general and the USA in particular being totally healthy. On top of this the western countries led by the USA continue to pursue a demented and dangerous wish for a Third World War against most of the rest of the world led by the BRICS, the Shanghai Cooperation Organization and the Belt Road Initiative. The imbalance between these two sides is huge – the west has something like 9 percent of the world’s population and 25 percent of its economic output (GDP) versus the remaining 91 percent and 75 percent, respectively.
A recent “opinion” in Bloomberg news compared the west’s “war” against the rest of the world to J.R.R. Tolkien’s “Lord of the Rings” trilogy thus implying that the west was fighting on the side of righteousness against an evil power which seeks world domination. This is not only incorrect (it is a lie) – it is also utterly dangerous in that it is provoking a Third World War.
The legislative process in the western countries has become a complete farce and it is destroying their economies and currencies in real time. The recent so-called “aid” package which passed the US House of Representatives with the support of 94 percent of the GOP and 55 percent of Democrats prints yet another USD $95 BILLION for the endless war in the Ukraine (which basically no longer exists as a country or as a demographic entity), in the Gaza Strip (which has been laid to waste and where the civilian population continues to be eliminated) and in Taiwan (where the west seeks to confront Mainland China). The only “beneficiaries” of this huge sum of printed money are the defense contractors mostly based in the USA – the merchants of endless war, misery and death. According to Robert F. Kennedy, Jr. well over half of the American population can no longer afford their basic economic needs – something like 54 to 57 percent of the US population……………..sad to say that Mr. Kennedy is absolutely correct on this point as he is on most points – he merely reflects the truth.
One real example of how the American Congress is doing nothing for its own constituents is the fact they have allowed the “Affordable Internet Connectivity” program to expire. This program gave many American families a monthly credit of USD $30 to help them pay for Internet service – it was based upon their eligibility for Medicaid…………………the American medical insurance program for lower income people.
The bill with USD $95 BILLION also pays for absolutely nothing to attempt to secure and defend America’s borders – in particular the southern land border with Mexico. There are now as many as 47 million illegal immigrants living in the USA, many of them dependent upon public financial assistance and a substantial number of them contributing to the escalating crime rate in the USA.
Nicholas Gerli of “Reventure Consulting” (an excellent channel about the real estate market) has long pointed out that the US commercial real estate market is severely depressed with about half of all commercial space in the USA being vacant. Now certain residential real estate markets in formerly prosperous or economically “hot” areas – particularly in states like Florida and Texas – are crashing.
