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Posted on 09/29/2024 4:02:28 AM PDT by george76
For the last couple of months, I’ve been noting various articles in which very rich people are taking some remarkable steps:
Buffett’s vice chairman dumps over half of his Berkshire shares..
Warren Buffett offloads Bank of America shares worth $982 million in latest sale..
Buffett’s Berkshire offloads Bank of America shares again; total sales near $7 billion..
Berkshire quietly dumps half its Apple shares amid unprecedented selling spree..
Blackrock reveals it’s quietly preparing for a $35 trillion Federal Reserve crisis with Bitcoin..
Jeff Bezos sells another $863.5 million of Amazon stock..
Now, clearly wealthy people are always shifting around their financial portfolios. Still, these activities were unusual enough to warrant media attention. This begs the question, what do they know that we don’t know?
Wealthy people (usually) aren’t fools. They watch the economic climate. It’s (usually) how they became wealthy. And the economic climate they’re watching apparently is worrying them.
Now consider these headlines:
JPMorgan CEO hints at looming crisis worse than recession..
Interest on U.S. debt surpasses $1 trillion for first time ever, exploding August budget deficit to record high..
An economy so strong it requires crisis-level fed action And, of course:
Household debt hits record $17.8 trillion..
Conclusion from all these headlines: Something big is coming, and it’s the little people who will get hurt the most.
...
Everyone is predicting what kinds of bad stuff will happen if Kamala wins. The tax plans and economic policies she’s outlined (including raising the corporate tax rate from 21 to 28% and taxing unrealized capital gains) are making wealthy people nervous.
One hedge fund billionaire said the proposed tax on unrealized capital gains on individuals making $100 million or more was particularly troubling and “would cause mass selling of almost everything – stocks, bonds, homes, art – I think it would result in a crash in the markets and an immediate, pretty quick recession.”
But a Kamala presidency is predicted to impact the lower to middle-class the most. Increased regulations, taxes and inflation always hit the lowest sectors the hardest.
But not as many people are predicting what kinds of bad stuff will happen if Trump is reelected. The Deep State pushback against his leadership is likely to be vicious and could include everything from deliberately crashing the economy to triggering terrorist sleeper cells.
As Trump himself said, “Our country right now is in the most dangerous position it’s ever been in from an economic standpoint, from a safety standpoint.. You could end up in a depression of the 1929 variety. We’re very close to that, and we’re very close to a world war.”
One person noted, “I believe they will INTENTIONALLY crash the economy right as [Trump] takes office. They will intentionally make it worse than 1929, so that he is so burdened and so distracted and in such a hole that even all of his brilliance will take four years just to dig us out and get us back to ‘normal,’ and then they will succeed because he will not be able to get anything else done during that time. All efforts will go towards rebuilding our economy from the rubble.”
...
Even a former FBI agent is suggesting stocking up on three to four months’ worth of food, arming yourself, and clubbing up with neighbors. Again, what does he know that we don’t know?
Something is coming, folks. Something much bigger than we as individuals can fight against. Whether that something is medical, economic, societal, political, or some combination therefore – the point is, something is coming.
Whatever this “something” will be, it’s almost a sure bet it will nullify our constitutional rights of speech, religion, self-defense and other critical issues. Interpret that as you will, but don’t ignore the ramifications. This “something” may also impact your financial security (if it hasn’t already) and even your food supply.
Whatever steps you choose to take, take them now. Something big is coming, and we need to brace for impact. Food for thought as the election looms dead ahead.
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The small counters are OK. But think about it…what do you do when they start telling you the entire area is glowing at a high rate. By the time that happens, its already too late.
“ Watch for this Tuesday, the Longshoremen all along the East Coast are threatening to go on strike, the Biden Administration has said they will not intervene to resolve the situation.”
——————-
This could be very bad. Shipping is already moving to the Panama Canal to make their way to west coast ports. So the cost of moving stuff from east to west…and then back east is going to drive inflation. At that point you will have a bunch of containers sitting on the east coast with no way to get them back into circulation—without shipping them back west.
Now think about Iran sinking a ship in the canal. Or a west coast earthquake. Or some other type of silliness that would disrupt things.
Biden could delay this by installing a cooling off period. Instead he wants to disrupt the economy and potentially ruin the first six months of a Trump presidency.
It could be a slow train wreck taking place right in front of our eyes.
Buy your toilet paper now. It will be competing for train space coming from the west to the east….
Nope. Unless they are in a tax deferred account.
The question is to whether you will lose more through the decline in price or the payment of the tax. It’s not a difficult calculation, and the answer is often why it’s best to hold through a decline.
Your time frame also has a lot to do with selling. If you are retired or close to retirement you time frame for regaining profits is shorter. If you are ten years out, it is likely you could ride it out.
Again, we are to be vigilant. Everyone should have a rainy day fund etc. Be on the lookout.
But this is stupid. Articles like this remind me of Harold Camping. And this guy.
There would be many benefits but also three bad effects from massive federal spending cuts.
(1) Economic dislocations and transition costs will be felt before the people and resources freed up by the spending cuts are deployed to better uses.
(2) Some genuinely useful or even essential things will inevitably be cut back, like federal research and development and military spending.
(3) Since welfare and transfer payments of one sort or another are the largest category of federal spending, those will come under pressure, with considerable political, economic, and social stress on those affected. The terms of Medicare, Medicaid, and Social Security, the age of retirement, student loans, and various other popular programs will become flashpoints, with the Dems and the Left mobilizing against any cuts.
Buy your toilet paper now. It will be competing
for train space coming from the west to the east….
*************
Or get a couple bushel baskets of corn cobs and
wipe away. Can’t flush so get yourself a few of
Walmart bags send it on down the road on garbage
day. Ol’ country boys/gals will wipe away. Also
find stores that use paper bags and not plastic.
That is true but not a reason to not have the capabi.ity to defend agaisnt missiles coming from foreign hostiles.
If someone cut off the Panama Canal, Suez Canal and Malacca Straits, they would bring the world economy to its knees.
The Suez Canal is effectively shut off, it wouldn’t take much to shut the other two down, combined with ports shutting down due to a strike and it would get really bad, really fast.
This close to the election and Biden proclaiming himself the most Union Friendly President in history, it’s very unlikely the Administration will intervene to solve the situation, Kamala has no clue and has no idea of the ramifications of the strike.
It could get resolved, just keep your eyes on the situation.
🙏🛐🛐🙏🙏🙏🙏✝️✝️✝️
I think Trump plans to usher in Nesara so an economic crash plays into that plan. The system we have now has to go bye bye anyway.
Marigolds, petunias or roses?
IMO-—INSIDER TRADING BY POLITICIANS SHOULD DRAW A LIFETIME PRISON SENTENCE.-—NO PAROLE
“So maybe the rate cut was actually premature and executed for political purposes...”
***********
This wasn’t an “emergency”. The Fed could have easily waited until after the election was over to make its big cut. This was blatantly political, as is everything in DC.
WE do not know that all that sales cash was USED to pick up other stocks.
I say ALOT of it is STASHED—and NOT in a BANK.
Stock market mini-crash is the October Surprise? See, see, Wall Street will tumble if Trump wins!
The spending will continue unabated. Plenty of excuses to keep printing more money (e.g., social stability, preserve essential human services, prevent a health care crisis, national security, etc.).
The nation is addicted to spending. The withdrawal would be too painful for people to bear. TPTB will pretend to do something about it, but they really won’t. As usual, lots of rhetoric, no real results.
The number one thing that needs to be done is downsizing our bloated government. But the politicians thrive on expanding it so that’s not going to happen.
The sheeple are in for some painful times.
As the referee says before a boxing match: “Protect yourself at all times.”
Was yours from y2k ?
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