Palisades Gold Radio
Oct 6, 2022
Tom welcomes David Haggith, publisher of “The Great Recession Blog”. He started his website twelve years ago, shortly after the housing bubble. He invented the term the epocalypse, which stands for ‘economic apocalypse’ that will be epic in scope. You could also call it the second great depression. He says, “For the last two years I’ve been extremely accurate.” The corona crisis brought massive amounts of money printing. The Fed can no longer print enough to support the equity markets. We’re going to have plenty of economic breakdowns and damage. It’s hard for people to grasp the rate of change that is occurring.
Money only creates inflation where money moves, and after the lockdowns lifted, we saw inflation take off. Production inflation hit manufacturers hard, and he was proven right that inflation was not transitory. We are going to discover that the recession started in Q1 of this year.
The Fed appears reliant on positive statistics, and they are in denial. The public trusts the Fed, but that trust is likely misplaced. Economists aren’t questioning or challenging the Fed’s outlook.
The Brookings Institute recently reported that the job market is short five million positions. There has been a million excess deaths in the labor pool lately. This is the reason why the labor market is tight. Production isn’t increasing due to the lack of available workers.
We’re now entering the period where everything is falling apart due to the system failing. The shortages are going to manifest by the late spring. Crop failures and fertilizer issues will put further pressure on food prices. He recommends you buy the stuff you regularly use in advance because it won’t get cheaper.
Bonds have declined the most, likely, since the great depression. There is no evidence this trend will stop, and it could be catastrophic. Credit Suisse is providing a serious example.
He says, “The Fed will slam the brakes on after they’ve hit the tree. They can shove it in reverse, but the car will be broken, and they won’t be going anywhere. It will be highly questionable if they can accomplish anything.” The Fed is going to lose much credibility in the coming crisis, and this could eventually lead to hyperinflation.
Lastly, he discusses the problems with gold and why his current preference is to stay in dollars. For now, dollars are relatively safe, but that could change. Investors need to remain nimble because we’re in the everything bubble.
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we’ll forward your request to the author.
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2022 Dinar Chronicles