International tensions (Israel-Iran-Hamas-Hezbollah-Yemen, China-Taiwan, Russia-Ukraine, Iran-Azerbaijan-Armenia, and a host of others) are one thing. Domestic issues (race, legal and illegal migration, culture wars, support for one or other external faction, etc.) are another. The November 2024 election is also a factor; I fully expect at least one more assassination attempt against President Trump, and this time those behind it are likely to make sure it's much better planned, organized and executed than their first risible effort. If they succeed, we may just have a civil war on our hands. If they cheat at the polls (which I absolutely expect them to do), ditto.
Putting all that together, I can only endorse The Honest Broker's warning.
Things are moving fast right now, and I’m not talking Olympic swim times. The culture and media are changing more rapidly than I’ve ever seen before.
And it won’t slow down.
If I were a commercial pilot, I’d tell you to return to your seats and buckle up.
I anticipate extreme turbulence on every front for the remaining five months in 2024. You will see it in politics, business, economics, culture, world affairs, the stock market, and maybe even your own neighborhood.
There's more at the link (most of it behind a paywall).
Looking at it from an economic perspective, James Kunstler agrees.
Everything that can break is breaking: stock markets, bond markets, the galaxy of derivatives — bets on this and that, which will never be honored. Banks are next. Gold and silver are hanging in there for dear life just now, because they’re actually worth something. (And because they are worth something, they‘ll eventually sell off some too, to cover margin calls on other stuff hemorrhaging value. But they will not go to zero like a lot of other stuff, and they’ll come back stronger.)
You understand this can’t play out like it did in 2008-9. The authorities are out of tricks and out of fake money. They can try the emergency interest rate cut, but it won’t change what is actually happening: the epic revaluation of everything humans make and own — with much of it losing value and quite a bit losing all value because it never really had any. The spooky catch is that there will be an attempt, in this wild and terrifying process, for certain devious, unprincipled parties to take possession of many things shaking loose — what remains of collateral. . . real things. . . commodities. . . facilities. . . properties. . . chattels. . . artworks. . . and, of course, whatever securities still have a relationship to realities of production.
. . .
Oh, and you’ve probably noticed that World War Three is shaping up to kick off today.
Interesting times. . . And I’m supposed to be on vacation this week.
Again, more at the link.
We're living in very dangerously unstable times, friends. Be as prepared as you can be to ride them out; and keep your metaphorical powder dry. By the New Year we may be living in a rather different situation than we are at present . . .
Peter
13 comments:
I'm also on vacation this week, just like he is. Which means I can drop whatever I might be doing and take the short drive to my Dad's house. I'd feel better about dying if it were alongside a good man like him.
This all reinforces that this is a time to stay away from crowds and be ready to rely on your own resources.
To me, this includes not using air travel and either having a well or being ready to filter your water.
Battery backups will also be useful.
Jonathan
In the words of the captain, "We may experience some turbulence, and then...explode."
I think it's generally credited to Voltaire as saying, "paper money eventually returns to its intrinsic value - zero."
The vast majority of what he's talking about all comes back to printing virtually infinite amounts of money not backed by anything. Global economic collapse.
To borrow someone else's line, "how did I go broke? First slowly then all at once." Right now in that process, we're right about where the word "then" appears. Which also seem to be exactly what The Honest Broker is saying.
Agree, don't go stupid places, keep up your SA, and be ready to 'run' if needed.
I expect loans to be called and ownership of a lot of stuff to change hands. I expect TPTB will use this situation to go to digital currency. Most homes will be foreclosed, and most retirement funds will implode. Any left standing will be confiscated by the gov. I expect ownership of gold to be outlawed (again). I can see silver being outlawed and even coin collections.
The money you have in the bank is considered an unsecured loan. The FDIC has 99 years to pay you back, of course they won't be around by then. I.e - it will all go away.
I expect martial law. I can see at least 3 possibilities. Right to assemble will be outlawed. Speech will be policed. CBDC will be used to control access to food, fuel, travel and healthcare (My doctor wouldn't see me until I had a COVID shot, never saw him again)
The Good News - Sane people outnumber the sociopaths in charge. A lot of LEOs won't go along with the shenanigans and the rest who do will become instant targets, as will their families (Study history, this kind of thing goes ugly). I expect many illegals will be recruited to help put down the legal population.
May God have mercy on us. And speaking of SA, who practices running on a regular basis? What's your cardio like?
Don't forget the canned sunshine forecast ! The chances are fairly good in the near term.
I just bought an el cheapo radiation detector.
I went to Aldi's and the Olive Oil I once bought for $3.69 is now nearly $10. Things are going Downhill fast.
I grew up in the 'Duck and Cover" era, could see and smell the Twin Towers burning from my neighborhood, and I have never been so concerned in all my life. We are a rudderless ship. There is nobody in charge, nobody accountable. When things go bad, and I believe they will soon, it will be "Oopsie!" and "Mistakes were made" and a blue ribbon panel will exonerate everyone. Except Trump, who will almost certainly be guilty of SOMETHING!
Yup! A feared you're right.
We crashing again?
Britain right now reminds me of Northern Ireland in 1968 and 1969 when the protests got going. It just takes one more misjudgement by the Labour Government and things will switch to 1970, the start of the Troubles, but on a far greater scale.
> with much of it losing value and quite a bit losing all value because it never really had any.
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"Hee, hee, hee! Good thing I put all my money into NFTs and gold! I have the certificates from the online gold vendor guaranteeing my gold is in a vault in Kazakhstan. You suckas are going to feel silly when it all falls down and you realize you should have been prepping!"
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