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Epic Economist shares news about the issue of homelessness becoming increasingly prevalent in major urban centers, with tent cities cropping up in various locations, including near the U.S. Supreme Court. The combination of skyrocketing rents and record-high housing prices has led to a surge in evictions and foreclosures, creating a dire situation for many individuals and families.
David Lin is joined by Lars Christensen, an Associate Professor at the Copenhagen Business School, to delve into topics such as the forecast for worldwide economic expansion, the current state of China’s economy, and the trajectory of the US dollar in the years to come.
The Atlantis Report shares news about the U.S. Stock Market And Banks Are About To Be Devastated By Black Swan Event! The U.S. financial sector is experiencing severe problems. Our stock market and banking sector are bracing for an imminent black swan event. Energy prices are unstable, with oil prices fluctuating wildly while shipping costs remain stubbornly high. As these prices fluctuate wildly, a new trading phenomenon is gaining traction on Wall Street. These ultra-short-term bets are gaining popularity and could trigger a black swan event. These issues could initiate a domino effect, leading to a major financial crisis that could devastate the U.S. stock market and banks.
Portfolio manager Michael Pento predicts a forthcoming period of disinflation and possibly even a brief spell of deflation during an interview on Liberty and Finance. With the economy slowing down, Pento believes the Federal Reserve will be compelled to increase the money supply, leading to a scenario of stagflation becoming the prevailing trend. Stagflation, characterized by high inflation coupled with a sluggish economy, has historically been a favorable environment for gold investments.
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Epic Economist
May 13, 2024
The homelessness crisis that is taking over our core urban areas is getting so out of control that tent cities are emerging everywhere, even next to the U.S. Supreme Court. Soaring rents and the most expensive housing prices in U.S. history are triggering a wave of evictions and foreclosures like nothing we have ever seen. In poorer communities, the lack of access to basic resources is putting millions of people in extreme situations. This crisis is spreading so rapidly that now middle-class Americans are also ending up without a home. That’s according to a new report from Harvard’s Joint Center for Housing Studies.
Researchers say that the United States is currently facing the biggest homelessness spike since 2012. In fact, since the pandemic, the population of unhoused Americans grew by 48%, with 12% of that increase happening over the past 12 months. From the first quarter of 2023 to the first quarter of 2024, almost 100,000 Americans started experiencing homelessness, which represented the largest single-year increase ever recorded. Today, it is estimated that more than 653,000 people in our country are living in the streets.
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However, housing advocates argue that a more accurate figure for the population of unhoused Americans stands at roughly 3 million people. That includes people living in their vehicles, abandoned buildings, and alternative shelters. The latest statistics indicate that people becoming homeless for the first time were behind much of the surge.
With government assistance out of the reach of everyday Americans, the rate of evictions exceeded a 10-year record high in January 2024, and over 1 million cases were reported year-over-year. “We know there’s health consequences, it’s an incredibly traumatic event, especially for children,” said Daniel Grubs-Donovan, a research specialist with the Princeton University’s Eviction Lab.
Within the overall rise, homelessness among individuals went up by 11%, while jumping 7.4% among U.S. veterans, 15.5% among families with children. Additionally, more than a quarter of adults experiencing homelessness were over age 54, which highlights the fact that many Americans nearing or at retirement ages are currently living in poverty.
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David Lin
May 13, 2024
Lars Christensen, Associate Professor at the Copenhagen Business School, discusses the outlook for global growth, China’s economy, and the future of the dollar.
*This video was recorded on May 9, 2024
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The Atlantis Report
May 13, 2024
U.S. Stock Market And Banks Are About To Be Devastated By Black Swan Event! The U.S. financial sector is experiencing severe problems. Our stock market and banking sector are bracing for an imminent black swan event. Energy prices are unstable, with oil prices fluctuating wildly while shipping costs remain stubbornly high. As these prices fluctuate wildly, a new trading phenomenon is gaining traction on Wall Street. These ultra-short-term bets are gaining popularity and could trigger a black swan event. These issues could initiate a domino effect, leading to a major financial crisis that could devastate the U.S. stock market and banks.
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Liberty and Finance
Premiered May 13, 2024
Disinflation is coming, says portfolio manager Michael Pento, and even a short period of deflation is likely. Amid the economy coming to a halt, the Fed will have no other option than to inflate the currency supply. At that point, stagflation will become the new normal, he says. And stagflation – high inflation with a weak economy – has proven to be the ideal environment for gold.
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