Posted on 01/29/2024 9:51:30 AM PST by george76
The recently-retired banking oracle - who forecast the 2008 housing crisis - made the dramatic prediction this week..
Bove, 83, claimed other analysts won't make the same admission because they're 'monks praying to money' who rely on the mainstream financial system..
It comes despite the collapse of its property sector, which accounts for roughly a quarter of the country's economy, and US growth
...
China will soon overtake the American economy and the US dollar will catastrophically collapse, according to famed financial analyst Richard X Bove.
In a characteristically histrionic forecast, the recently-retired 83-year-old banking oracle has announced that 'the dollar is finished as the world's reserve currency'.
His dire prophesy comes despite the collapse of China's Evergrande - impacting its property sector which accounts for roughly a quarter of the country's economy
...
Bove said you won't hear his latest prediction from any other analysts because they are 'monks praying to money' who won't speak out about the mainstream financial system their livelihoods depend upon.
...
Evergrande, one of China's biggest real estate companies, has defaulted on a loan for the first time - sparking fears of a ripple effect on Chinese and global markets
...
Not all of his financial forecasts have borne out, but he's known for predicting the 2008 housing crisis three years before it happened
...
Evergrande Group is among dozens of Chinese developers that have collapsed since 2020 under official pressure to rein in surging debt the ruling Communist Party views as a threat to China´s slowing economic growth.
But the crackdown on excess borrowing tipped the property industry into crisis, dragging on the economy and rattling financial systems in and outside China.
(Excerpt) Read more at dailymail.co.uk ...
It is going to be crashing China vs crashing US—a true race to the bottom.
“The fall of the US Economy”.
Another “accomplishment” for the idiot in the WH. Add it to the growing list.
Race to Oblivion
“Build Back Better” means destroying first.
That’s what Joe was hired for: to destroy, he’s good at that.
It’s basically inevitable.
China owns our trillions in debt. The only way to keep them from owning the US is to dilute the debt by printing, printing, printing. Either way, we got screwed by our ‘representatives’ in DC. The first nails were hammered by Bush and Obama with the stimulus and bailout bills, and it was finished by Trump and especially Biden with the covid stimulus/bailout money-for-nothing spending.
The BRICS nations are moving to destroy the dollar as reserve currency.
It will happen.
This will give Biden and the WEF crowd all they need to implement a digital currency.
China does not have a healthy economy, and I am still not convinced that
BRICS is going to turn out to be what they hoped it would be.
Nope. China is in trouble too, demographics take a long time to reverse. Meanwhile: The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).
(Wiki)
All we need is less stupid in D.C.
Whoops.
This guy was THE MAN in the banking world for a very long time.
Not all of his financial forecasts have borne out, but he’s known for predicting the 2008 housing crisis three years before it happened....
Not so sure that was some amazing analysis and seeing into the future. With the way houses were selling. Carter’s mortgage rules that were put on steroids by Clinton. House flipping that was bordering on the ridiculous. State income mortgages. Yeah....I don’t think anyone needed to be a brain surgeon to see where all that was headed.
This guy has a pretty interesting take on some things pertaining to China:
China Has 10 Years Left, Says Geopolitical Analyst Peter Zaihan .... https://www.youtube.com/watch?v=ED_yPDdqG5Y
Sadly,
I think he’s right.
Not because I feel some way, but because there are real indicators that this happening.
In the last 2 years, other nations have divested of ~400 billion in US securities.
In the next 6 or so years, mainland China (PRC), will pass us in GDP.
BRICS is growing and it’s powers expanding
There is long term even the push for alternatives to the USD as the Petro currency (Saudi Arabia).
People just aren’t perceiving these things, but they are very real.
Our politicians don’t care because they are worried about local politics and only have a 3 year or less time horizon. The MSM isn’t coving this much because it’s not sensational, conflicted, some pop culture trash... But this does carry with it huge implications for us.
Bush II basically had a balanced budget before he left office.
If history is any guide we will just default on debt held by foreigners.
A good example of that is Argentina.
What they have done (more than once!) is to extend the maturity date to some ridiculous future time and refuse to pay the interest.
Nobody invaded them over it.
;-)
but China is Fake
China is a communist country, with an increasingly leftist leader
Its has a strictly controlled currency, trade and investment account. Any money put into China is subject to the whim of its leaders, and the swamp of it bureaucracy.
The US dollar will decline - for the same/similar reasons, but the world will NOT rush to put its money in China.
400 Million Customers was published 86 years ago.
It’s El Dorado. Still.
I think this guy is just trying to bump his poor investments.
Losing the proxy war in the ukraine
The real one is coming
Playing star wars with russia
They created
Gog dnc usa
Magog dnc nato
We’ll need another denazificat⁸ion - Nuremberg to stop it
Ping!
Both socialized governments have all sorts of ways of collapsing their economies but mainly through over spending and over taxing. Not mentioning over regulating.
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