👉This is The End America Shrinking GDP , Bank Failures , Mass Bankruptcies!!

👉This is The End America Shrinking GDP , Bank Failures , Mass Bankruptcies!!




The Congressional Budget Office projects GDP dropping 38% in the second quarter as 26 million Americans remain unemployed. The forecast is about in line with most Wall Street projections. Besides, the CBO sees the federal budget deficit swelling to $2.2 trillion in fiscal 2020. Food prices are inflating already. Millions Of Americans Skip Credit Card And Car Payments.The Banks On Hook For $150 Billion In "Frozen Loans." Banks will have to take another $75-$100 Billion in reserves on loans that go bad, wiping out years of profits, which were used not for a rainy day fund but to pay for, drumroll, buybacks. Yup. It's just beginning. And then there are the derivatives. Needless to say, the economy has been severely affected. Last week the Federal Reserve released a report predicting that the next print on GDP numbers will likely show a loss of 34.9% in the second quarter. This is the biggest GDP plunge since the Great Depression; even the crash of 2008 doesn't compare. Congress has reacted to the pandemic with one rescue bill that totaled close to $3 trillion and another that could be as much or more. Looking at just the money approved so far, the CBO said it would increase the federal deficit by $2.1 trillion in fiscal 2020 and $600 billion in 2021. The levels equate to about 11% of nominal GDP in fiscal 2020 and 3% in 2021. The economic impact of coronavirus lockdowns is just starting to begin. We’re going to have to recognize that coming after this virus crisis will be the economic impact and hangover of the lockdown. The pandemic is just the icing on the cake of a collapse that was going to happen anyway. We are doomed! The government has played its cards and shown us that they don't give a damn about anyone except government workers. They have destroyed our economy and are in the process of setting off hyperinflation that will throw us all into poverty. Many of the jobs will never come back. Big banks and wall Street hedge funds have used and abused the work a day Americans for decades. All debts, eventually always get paid, either by the borrower or by the lender. Being debt-free is the right thing to do, but you also, being responsible you are going to get screwed. They will rape you on property taxes if they can't get sales taxes from a broken economy. You are never out of debt. The Casino never loses. One way or another, the taxpayer will end up holding the bag. The real fuckery will be state and local government set up to rape the slaves to keep their nests feathered. That starts Civil War 2 in my book. This is going to end nasty. The hit to local tax revenues is permanent, as the economy became dependent on debt and financialization pushed costs up. It will all get flicked off to taxpayers. Amazon and online sellers don’t pay local taxes except in the locales where their fulfillment centers are located. Yes, online sellers pay state and local sales taxes, but these sales are for goods; most of the small businesses that have supported local tax revenues are services: bars, cafes, restaurants, etc. "Transfer of wealth" is what gangsters euphemistically call stealing. According to the social contract, all parties must be paid, and when one party is slighted, they are being robbed. The gangsters have taken over the government to nullify the social contract and steal everything, including our lives. If you want to live, you have to fight them. The budget after the election will be a doozy, healthcare and education spending will have to be cut in half, and taxes on the poor doubled. At the current rate of job loss and corresponding destitution, unexpectedly paralleled by the masses waking up to the sham that is fiat currency (“Fed go brrr”), it won’t be too much longer before Americans take the “Molon Labe” approach to banksters trying to repossess cars and foreclose homes. The banks have already pulled in the credit. This always results in a steep recession. Great Depression II. The Banksters know the Tsunami that is headed their way. You really think “taxpayers” are going to pay off 30+ trillion dollars? Let’s get realistic here. The US will soon default, and we’ll have a global digital currency. Debt slave chuckleheads if you think the banks are not gonna take that McMansion and your shiny car, you are delusional. They never forget where that loan went, soon there will be masses of people on the streets trying to sell you an apple for a nickel like the new depression 2021, the only difference will be people back then had farms and didn't go hungry. It was clear that the Big Crash was coming. We saw the writing on the wall last year in December when China's economy went down. We reached the end of manipulation road, so they started this lockdown to lay blame somewhere else and especially not the bankers that created all this mess. This comparatively anemic pandemic was perhaps - a least-worst compromise cover event for it - to keep the Fabulous Bankster Brothers off the lamp posts of their capital cities. But also to implement surveillance, implement AI, and control the masses like the cattle they picture us to be. The Pandemic "which nobody could have seen coming" has already been blamed, and The Banksters have already received Trillions more in bailouts without so much as a peep from the sheep because they got thrown a few crumbs. The financial collapse (which is still to come in large part) was coming anyway because of Policy errors, especially by Central banks working in collusion with Wall Street, but the pillage would have been more difficult without a catalyst that "nobody could have seen coming." Very convenient, hey! First, they take away your guns. Then they take away your lands. Next, they take away your cash and property. Finally, they take away your freedom and rights. It's gradual, and the people who sound the alarm at each step are made out to be crazy for campaigning for our rights. The lazy and uneducated masses go along with it like sheep because it's easier to slide down the slippery slope to slavery than to fight for your rights every step of the way. The populace is borderline retarded at this point. Life has been too easy for lazy, stupid people for too long, and they want the handouts to continue. I fear it will take a structural collapse, ensuing tyranny, and a revolution to correct it. At our current trajectory, we’ll be at Mad Max under Thunderdome in 5 years. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. All currencies always return to their intrinsic value, which is zero. There are hundreds of historical examples throughout history. Rome was also rich through raping and pillaging other countries. All empires eventually go broke. Comparing America to Rome, America ain't gonna hang in there with the dollar to reach 1,200 years as the Roman Empire did. Just a teenie wienie slice of that time period. Fifty years and we already screwed up. We are bankrupt. This is the second time, as well. The US emerged from WWII as the world's leading military and economic power. Since that time, US hegemony has been predicated on: 1) unrivaled military power. 2) control of the world's energy reserves (primarily in the Middle East). And 3) maintaining the dollar as the world's reserve currency. All of the pillars supporting US power are now eroding. A consequence of decades of neo-liberal economic policies- tax cuts for the wealthy, financial deregulation, attacks on labor and job outsourcing, and spending vast sums of taxpayer money on the Pentagon and war. And, more recently, attainment of economic/military parity by Russia and China. In 2008, the US experienced the largest financial collapse since the Great Depression. Since that time, none of the structural problems plaguing American/Global capitalism- excess capacity and slack demand have been resolved. The Coronavirus pandemic has starkly revealed the fragility of the post 2008 financial ‘recovery,’ as FED- created financial bubbles in all asset categories are on the verge of imploding, were it not for continuing multi- $ trillion bailouts from the Treasury/FED. The financial elite running the US (essential shareholders of the Federal Reserve System) are apoplectic about continuing economic decline, accelerated by the Covid19 pandemic and looming strategic debacles confronting the Pentagon in Afghanistan (longest-running war in US history), Iraq, Libya, Syria, and Yemen. At the end of March, a ‘backroom deal put together by Steve Mnuchin, Mitch McConnell, Nancy Pelosi, Kevin McCarthy, and Chuck Schumer (aka the ‘Senator from Wall St) otherwise known as the ‘CARES Act,’ which passed with virtually no debate and received unanimous bipartisan support in Congress. This bill was little more than a taxpayer-supported exercise in financial gluttony for the economic elite, which would make 19th-century robber barons green with envy. Bottom line- the Treasury/FED are doing exactly what Congress authorized them to do- print as much money as needed to keep equity markets inflated and continue propping up [still] insolvent banks. This was essentially what FED Chair Powell stated in his testimony to the Senate Banking Committee last Tuesday. The problem with these policies is that they are not resolving the underlying financial problems confronting American capitalism (which have been going on since at least 2008) but rather are bankrupting the country and accelerating US economic decline. Unfortunately, the average American family is facing a very bleak economic future. They can reflate the bubble, but eventually, everyone will be billionaires. Hell Zimbabwe has trillionaires. Loss of faith will cause the little pieces of paper to no longer be accepted in trade for goods. The American empire is in steep decline. Unfortunately, the geriatric morons in charge are fully delusional. I hope they do not choose to murder everyone rather than humble themselves and give up the empire as The ex-Soviet Union did. The unbelievable stupidity coming from Trump and Pompeo makes me doubt that. We need to curb the military-industrial complex. Have the military for the purpose of securing the homeland from advisories, not for the purpose of attacking countries that pose no threat to the regime in DC. Trillions have been pissed away, and how has that benefited the people that fund this war machine, The Tax Payers! The Military-Industrial Complex grabbed some countries' gold reserves, and did what with it! Divvy it up between themselves and hand the tab to the Joe Six-packs in taxes and cuts to infrastructure, education, and other services for the taxpayers. Tent cities are popping up across the country, San Francis, Seattle, Detroit, New York. The OECD is also showing a drop off in the education system. Our ranking drops every year compared to other countries. Quality of life is deteriorating. Get congress cleaned up and throw out the dual citizens. They can only be loyal to one country. Let them choose one. This is the tail wagging the dog. We need term limits. Bulldoze produce nothing career government bureaucrats and their wacko NGOs out of the way. We have to also get rid of the lobbyist. Bringing the back rule of law and the Glass Steagall would also help. It's already too late to fix what's left, have to let it all implode and start over. It's the debt hangover. This depression will most likely run for ten years. I hope to live long enough to see the Fed Reserve banksters in jail, and the UN kicked out of the US, And globalization and financialization, are dead. Globalization has always meant one thing: putting billionaire oligarchs out of the reach of anyone nation. It is said that there's $40 trillion in "hot money" floating around the planet. This is money controlled by international criminals, tax avoiders, drug cartels, and politicians and moved from one place to the next as conditions vary. Back in the '50s, '60s and even the '70s, more of that hot money cooled down and was directed toward working people and productive business ventures instead of "financial products." Democrats during that time supported working for people and unions. Now they suck at the teats of Soros, Bloomberg, and Silicon Valley, and no one really represents wage earners in the middle and lower reaches of our society. We can hope that as the house of cards goes down - and its militaries with it, there won't be enough muscle to sustain and protect all the cartels & offshoring. And a lot of that magic money that isn't in solid form may just evaporate. The Federal Reserve, a private profiteering corporation and “branch” bank of the BIS, has already moved most of its operation directly into the US Treasury Department. The Fed serves the Globalist while it owns and controls the fake and treasonous US “government.” See The Patriot Act, the Military Commissions Act, the National Defense Authorization Act, the Codex Alimentarius. Check out the insane “emergency power” decrees, and you will understand state officials who blithely declare they can make or break ANY law and deny ANY Constitutional “right” on their own “authority.” The desperate ignorance of the general public globally is a disaster for humanity. Globalization and financialization are not about sustainable anything. They are foremost about Wealth Transfer: from the 99% to The 1%, with a heavy emphasis on 0.1%. It's about building a Global Neo-Feudalism. The fiat chits, credit, and debt are just creative theft instruments. A-One World Government will be implemented by force. Globalism is by no means dead because the powers that be ALWAYS have a Plan B through Z when Plan A fails. If anything, globalism is accelerating. Look at how much shady big tech companies and governments are doing while people live in fear of the Wuhan Virus. While “globalization” continues marching forward toward a cashless world of absolutely centralized Globalist Central Bank control of medical martial law and mind-blowing surveillance right down to where and what you are eating for dinner. The Globalists are behind all of this devastation, and they’re just rolling hard into their endgame agenda. Unless the general public grasps the intentional reality and vehemently resists, it’s game over. Technology has helped to accomplish the ONE thing America's Founders sought to avoid: The concentration of Power into the Hands of a Few. And what a rotten few they are. One camera can do the spying and tattling of a thousand snitches. One weapon can kill millions with the push of a button. By eliminating a large labor force, you don't have to worry about someone's human conscience or guilt interfering with your plans, no matter how dastardly. With the relentless pursuit of evermore sophisticated capture and kill toys, it was inevitable that anti-social, narcissistic, sociopaths would end up at the top. We now officially live in a world conquered by space-age comic book Super-Villains. Tribal civilizations stuck back in the neolithic era until colonization are starting to look like. GENIUSES!!! “The urge to save humanity is almost always only a false-face for the urge to rule it. Power is what all messiahs really seek: not the chance to serve. This is true even of the pious brethren who carry the gospel to foreign parts.” ― H.L. Mencken. The ascendancy of hateful, corrupt, racist nationalists leaders was already signaling the destruction of modern civilization. Add the pandemic on top. A global catastrophe will surely ensue. This Is The End, My beautiful Friend! 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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.