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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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Unfunded liabilities - bottom right - https://usdebtclock.org/
Our neighbors put on masks and stopped attending choir because trump stood beside fauci and said it was too dangerous.
Helene came through and tore a 15 foot hole in our roof. People came by n posted pics of our flooded home. They didn’t come to help.
It makes sense now more than ever to close the border.
Illegal immigration is a crime problem, but it’s also an economic problem.
Soros crashed the economy to elect Obama in 2008. It’s in the playbook. A big bankruptcy usually is the harbinger of the next financial crisis.
My guess is mass illegal migrant riots.
Looks like I better invest in many bags of beans and flower.
So might as well keep our stock portfolios as is and just work at preparing our present position:
- Guns and ammo (and practice),
- storage of precious metals other than lead and brass,
- diversified food storage and water storage/filtration,
- making more local connections with neighbors and other like-minded patriots,
- work on gardening, animal husbandry, and other post-crash skills.
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.
—
Add in the reported (by Lura Logan) the 9 Misagh-3 Iranian surface-to-air missiles smuggled into the US (across the NM border) and distributed to 3 Iranian Trump hit teams.
Thanks for the reminder!!!
Strangely enough, Trump said at the end of his 1st term that to a reporterette that as he was expecting to get his 2nd term that some future President in the not too distant future would preside over a crash of the economy but it would not be him when the music stopped playing as many would be left without a chair...Trump might be the next Herbert Hoover...His comment might be about him instead.
Interest payments paid to whom?
>> Let’s suppose they confiscate everything to pay it off. That would only be a temporary fix because the borrowing would continue in order to keep spending.
You reason logically and rationally. “They” DON’T! That compounds the problem of guessing what “they” will do about the problems “they” are responsible for creating! Remember, these are the same assclowns that believe you can be whatever gender you want, that killing babies is “reproductive care”, and that a global takeover of the economy is essential to prevent “climate disaster”.
My son thought that last year when we were discussing the election.
He still holds to that theory.
Bill Clinton and his gang of merry Marxists first introduced the idea of a ‘retro-active tax’, IOW, a tax on capital gains you had BEFORE the law went into effect, and the Supreme Court let it stand.
Even if the government confiscated every penny of those people and organizations listed above, it would nothing but pay the interst on the debt for one month. Then on the second month you would go bankrupt................
I’m suspecting more.
The actual numbers are always worse than projected.
You are correct.
However, Berkshire Hathaway has their largest cash position ever.
They are positioning themselves to be able to buy when we get that next correction in the market.
The question is just how big will that correction be?
The stock market is at all time highs.
S&P 500, DOW, NASDAQ all at the highest levels ever.
Buffet has stated that he doesn’t see any values.
So, he has been selling for about a year.
He has been parking his cash in short term TBills.
Which were paying over 5% until just recently.
I am copying him.
I sold all my stock based mutual funds for the first time in my life in July.
I was very heavy in tech.
I just wish I had bought gold and Bitcoin instead of 4, 8 and 17 week TBills.
I agree the trend is to federal bankruptcy. What would stop the federal government from declaring a debt Jubilee? Just tell all debt holders “sorry, this debt is unsustainable, we can’t pay, we WON’T pay”. What would the consequences be? USA would get a bad credit rating? Ha! We already have that. If we zeroed the debt, our financial picture looks great. Lots of productive assets and natural resources in the USA. Seriously what would any of the big debt holders do? Sure they’d be big mad at us. So? China, India, Russia, Japan and others could nuke us but I doubt they would. You nuke us, we nuke you back.
Ping to post 27.
Time to put the finishing touches on prepping if you can. Diana has a great gardening thread for those who want advice on gardening.
And food preservation and recipes, on occasion.
Who were the people that shorted Trump stock both Fridays before the assination attempts?
That’s huge clue!
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