Beware of What You Wish For, as You’re About To Get It….”I’m so scared of what coming – potentially, as imminently as it is inevitable. And thus, why I more vehemently than ever, advise you to PROTECT YOURSELF, and DO IT NOW!”…(Must Read!)
By: Andrew Hoffman
SilverSeek.com
September 23, 2016
The trading day just ended, on what may be the penultimate week of “normalcy” for generations to come. Frankly, I have never been more scared, as the certainty of my views has never been more powerful. Which are, that nothing – not Central banks, governments, nor any “supreme manipulative power” – will be able to stop the unstoppable tsunami of political, economic, and monetary reality that has already engulfed large swaths of the “emerging” world; and currently, is heading for the “developed” world full bore, like a runaway train down an icy mountain, loaded with nuclear explosives.
To that end, today’s topic is as “philosophical” as anything I’ve penned, which I believe is appropriate given the circumstances – as it’s one thing to speak of what will be, and another to experience it firsthand. Which is exactly what I think everyone reading this blog is about to live through – as a new, terrifying “normality” replaces what we have known throughout the entire post-War era.
Economically, we are unquestionably – on a worldwide basis – living amidst the weakest conditions since the Great Depression. Which sadly, is not only plunging steeply downhill, at a rapidly accelerating rate, but features the triple-barreled terminal dangers of historic oversupply; unprecedented, parabolically-rising debt; and relentlessly hyper-inflating currencies. And oh yeah, 7.4 billion people fighting to survive in a world of rapidly declining employment opportunities; rising inflation; and non-existent savings. Frankly, I’m exhausted with documenting the countless economic “horrible headlines” each day – like the Cass Freight Index plunging to nearly its 2009 financial crisis low – so I’m going to take a pass for a day. Other than to say, that today’s reality-exposing crude oil plunge – based on news that my vehement prediction of NO DEAL at next Tuesday’s Algiers producer meeting will in fact be the case – may well be the straw that breaks the financial markets’ backs.
As when oil inevitably – and perhaps, imminently – crashes below $40/bbl; and potentially, $30/bbl; the wave of defaults will be at least as devastating as the 2008 subprime mortgage crisis. As this time, not only corporations, but sovereign governments themselves will collapse – in the case of the already unstable Middle East, potentially catalyzing World War III. Let alone, “other” modern-day lending catastrophes like “subprime” student and auto-loans, high-end real estate, and countless corporations that borrowed cheap Central bank “money” to buy back shares at historically overvalued prices. And oh yeah, I’d be remiss if I neglected to note that the New York Fed, today, dramatically reduced it’s (soon-to-be-further-slashed) 4Q GDP “growth” estimate to…wait for it…1.2%!
Politically, the hell that is about to rain down on the world will be no less devastating than the worst instances of 20th century authoritarianism – and in some cases, 19th century and earlier. Former “first world” nations will no longer enjoy such privilege, yielding massive declines in the standard of living – that frankly, could never be imagined a few years back, even at the bottom of the 2008 financial crisis; or, for that matter, the immediate aftermath of 9/11. Japan will literally plunge from the first world to the third; “commodity currency” nations will experience hyperinflation; and Europe will become a neo-feudal hell – potentially, far sooner than most can imagine, given that Deutsche Bank of Germany and Bank Monte Paschi of Italy are literally on the verge of collapse. Which, if one or both go, will be the equivalent of a nuclear financial explosion.
The Rest…HERE
