The Atlantis Report
Premiered Apr 20, 2021
This freakshow is getting freakier. The economy is in free fall. The country is sinking deeper and deeper into a sea of debt, just passed the 28 trillion mark.
Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit.
This news comes as the U.S. Corporate profits drop in the first quarter by most since the 2008 Great Recession. That is the largest decline since the fourth quarter of 2008 during the Great Recession.
It’s finally gotten through to the dumbest of the dumb that the housing bubble is real, and so is the collapse that’s got to come with 50 million people unemployed and millions more coming, and no way to prevent millions of people from losing their homes (and their cars and toys) in the next year or two. After all, Why buy if you can keep renting for free.
100,000+ businesses have been decimated by the Governor’s orders to shut down. Those businesses are not coming back.
The full extent of the damage to this economy won’t be known for several more quarters when businesses report their sluggish earnings, if there are earnings at all.
But All this doesn’t matter. The bad news is good news for the market again! The market seems detached from reality.
This market is not the economy. We do not have a market anymore. The current stock market valuations are completely unhinged from the fundamentals. This Stock market is simply a Ponzi scheme!
A gigantic market crash is looming.
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