I wonder if China will depose the US as the world’s reserve currency. What if China pushes a new currency which is backed by the value of a basket of resources (gold, silver, copper, oil, etc)? They might event include a blockchain component. Our fiat currency would become insignificant and our debt would be a problem. We would fall and they would rise.
The beautiful gimmick the Chicken Littles have going for them is they scream doom and gloom every day for 30 years so the one time it actually happens they claim “they saw it coming”.
No one every remembers how often they are wrong, only the rare occasions they get it right.
Life is dangerous. Life is risk. No one can immunize you from it. Anyone claiming they can is lying to you
This means I’ve lived through 6-7 financial crises and yet done very well.
Most every major hacking success occurred because of inadequate and outdated computer security policies and procedures.
In other words, most every one could have been prevented if the organization that got hacked had taken the time and expense to keep their protection strong and up-to-date.
It’s this penny-wise and pound-foolish management focus that is going to kill us all when the big one hits.
For example, did you know there was a huge security risk exposed for Apple products yesterday? It is a “zero-click” exploit, which means the user doesn’t even have to do anything to get exploited. Apple did a good job releasing an update that eliminates the hack, but very few have run the update. If you haven’t updated your iPhone, Apple Watch, iPad or Mac do it today!
I just updated all my Apple devices this morning.
Here’s the thread from yesterday:
Why Apple users should update their phones, computers and watches immediately:
https://freerepublic.com/focus/f-chat/3994606/posts
Biden’s energy policies, his reckless spending and his lack of vision will cause a market correction. Those are all predictable.
The book “Manias, Panics, and Crashes” by Charles Kindleberger is one of the better books on financial crises.
It can be easily downloaded and is only 355 pages.
Couldn’t one argue that 2020 was the financial crisis? Markets were cut in half before massive government intervention. That would suggest a bull run through 2030. Of course massive government intervention would be the cause of the next crash whenever it comes. You could say massive fed intervention has kept reinflating the bubble since the tech pop of 2000, the housing collapse of 2008, and the pandemic of 2020.
This all started back in ‘73 with the Oil Embargo as revenge for Nixon resupply of Israel after the ‘73 war.
Next was the ‘87 Black Monday.
Next was 2000 .com crash
Next 9/11
Next was 2008 real estate and stock crash. 555B pulled from market in one day.
Now 2019 Covid.
The pattern is the USA was the primary target, nothing was ever investigated as to the cause.
Q: So who has LOTS of $$$, a hatred of the USA and desires to control the world?
A: China and the Arab nations.