Posted on 07/10/2023 7:01:02 AM PDT by Kaiser8408a
Bidenomics relied on massive Federal spending thanks to Covid and massive monetary expansion. This led to the highest inflation in 40 years (Bidenflation). But now The Fed is slowing M2 Money growth into negative territory and hiking their target rate.
The result? Bank credit growth has crashed to 0.5% YoY. In other words, banks are no longer expanding credit for the first time since the aftermanth of The Great Recession and Financial Crisis of 2008/2009. Of course, Washington DC bailed out their bestest buddies, the banks, while middle America suffered.
As America loses steam under Biden and The Fed, 41+ countries have signed on to the BRICs gold-backed reserve currency. Unlike the USA with its fiat currency (backed by Babbling Biden and Janet “The Midget Marxist” Yellen), this reserve currency will be backed by gold.
Speaking of Yellen, she met the Chinese vice-Chairman (their version of Cacklin’ Kamala) and bowed three times. And the Chinese official didn’t return the bows. Way to capitulate Janet!!
(Excerpt) Read more at confoundedinterest.net ...
BidenDepression 2023
Maybe Spring, 2024
Most countries are still holding $dollars for oil purchases.
If $dollars become unnecessary or less necessary for oil transactions - look out!
YoY!
When is commercial real estate going to explode?
By “explode” I assume our mean fall apart, not going up in value?
Yes, I should have explained better.
Musk thinks the commercial real estate collapse will begin later this year. Tough times ahead.
I honestly don’t understand how it hasn’t already.
This will propagate through the banks and get ugly.
IMO…
“41+ countries have signed on to the BRICs gold-backed reserve currency.”
Sounds durn good to me!!! Deficit spending is killing us.
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