Financial, Economic and Social Mood Update (June 1, 2023)
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…