Transcript for 8/5/24: BLACK MONDAY – I CURED THE ECONOMY W/ ALAN JOHNSON
During the prisoner swap a few days ago both President Biden and Vice President Kamala Harris did not miss an opportunity to be there in the late hours for their photo op. Reporters braved the darkness to be there and as Biden was heading back to the plane a reporter stopped him and asked "What do you think your legacy will be?" Biden gave a blank stare, paused and said:
“I cured the economy, and the environment and other things."
Well, not so fast.
Welcome to Black Monday and what appears to be the Global Meltdown.
I had a feeling that something weird was about to go down when I read that Warren Buffett and unexpectedly sold half of his Apple Stock.
Buffett slashed Berkshire Hathaway’s massive Apple stake.
Just two years ago Buffett called the stock one of the four giants of his conglomerate's business alongside Berkshire insurance, utility and BNSF railroad businesses that it owns outright. That gave investors the impression that Buffett might hold onto Apple indefinitely as he has with the Coca-Cola and American Express shares he bought decades ago.
As a result, Buffett is now sitting on nearly $277 billion in cash, up from what was already a record $189 billion just three months earlier.
He dropped 55.8% of his Apple stocks.
When you see activity like this from a company’s larger investor you tend to wonder if a war is about to break out -- or if the grid is about to go down rendering electronics obsolete.
The Nasdaq 100 has had the biggest opening drop in more than four years, as investors braced for days of volatility amid rising concerns over a slowing US economy and overheated gains in the tech sector.
Nasdaq 100 futures fell as much as 6.5% before paring losses to about 4.5%. That puts the tech-heavy index on track for its worst open since the pandemic days of March 2020.
US retail traders are panicking after likely receiving push notifications on their smartphones about market turmoil in Asia and Europe, which has since spread to the US premarket.
Down detector reports outages are emerging across several major US brokerage houses as everyone tries to log into their accounts and sell stocks.
Down Detector reports that users of Charles Schwab, Fidelity, Ameritrade, Vanguard, and E-Trade are all reporting website outages, which have been surging around the start of the downturn.
Trump posted on Twitter this morning:
“STOCK MARKETS ARE CRASHING, JOBS NUMBERS ARE TERRIBLE, WE ARE HEADING TO WORLD WAR lll, AND WE HAVE TWO OF THE MOST INCOMPETENT “LEADERS” IN HISTORY,” “THIS IS NOT GOOD!!!”
Not a mean tweet just an uncomfortable truth that no festivities and laughter for the new Democratic Hopeful can erase. It looks like all of that careful spinning of propaganda about the great times we live in becomes less effective when you see the markets crash.
I can imitate the mainstream media -- Biden is simply amazing!!!!! He "Cured" the economy, he brought diplomacy and peace to the Middle East, successfully evacuated Afghanistan, He is providing unparalleled amounts of aid to Israel, kept the US energy independent, created more jobs than anyone else in US history, has kept inflation in check, "fixed" the border, and "cured" cancer! Oh yes, and he cured COVID-19 -- don't believe me? Just ask him -- or Morning Joe -- they will set you straight.
He is amazing and Kamala Harris is the best candidate to replace him --are people really that stupid?
I woke up today thinking the clock had been turned back to 2008 -- but we all should have seen this coming -- we have time and again warned of the Black swan event that is going to suck people dry like a black hole -- and we are now seeing a moment where people are no longer able to continue in this ritual of Bidenomics.
All this spending on wars, tech, and Climate science seems to not help in giving people the faith that they will be able to feed their families -- and all of the bright and cheery statistics that were being provided about good times ahead are just game saying and gaslighting --
The faith has all petered out.
Japan's Nikkei stock index on Monday saw its largest single-day rout since the 1987 "Black Monday" sell-offs that precipitated a major recession.
The fall was driven by last week's global plunge in stock prices, which followed bleak jobs data that indicated the US could be heading for recession, sending a shock wave across markets.
At the end of trading, the Nikkei index shed a massive 12.4%, after dipping as much as 13.4% at one point. For comparison, the biggest single-day drop was 14.9% in 1987. At one point during the sell-off, a "circuit breaker" was triggered to stop trading.
The rapid fall of Japan's yen against the dollar has also fueled the sell-off, as investors try and sell equities in a mass deleveraging as investors sell assets to fund their losses, Kyle Rodda, a senior financial market analyst at Capital.com in Melbourne, told Reuters news agency.
Japanese Finance Minister Shunichi Suzuki said the government was monitoring markets with "grave concern."
Markets in South Korea and Taiwan also plunged more than 8% each at one point Monday.
When the US markets opened on Monday morning, the Dow Jones Industrial Average plunged over 1,000 points, with the NASDAQ losing 6%. The S&P 500, meanwhile, decreased 4.2%.
European shares also fell to a 6-month low in early trading on Monday morning amid US recession fears.
In late July, economists reported that Germany's economy had unexpectedly shrunk in the second quarter of 2024, sparking fears of a larger economic downturn in Europe as well.
Today, stock values have become very far removed from the value of real assets and material goods and services. The idea of “bubbles” reflects this growing disconnect between the economy and the stock market. In 2008, for example, most could not even explain what “derivatives” were because they were so convoluted and so far removed from reality. It was next to impossible to determine which claims of wealth (real and fictitious) belonged to whom because toxic financial instruments were essentially made up and resold over and over again.
In reality, much of the stock market relies on fictitious capital—value beyond what can be realized in the form of commodities. It is capital above and beyond actual capital. Fictitious capital is parasitic and can arise from printing money, lending between banks, compound interest, credit, speculation, fractional banking, fake toxic financial instruments, and more. Fictitious capital spontaneously duplicates and triplicates real capital. It is not real value produced by real workers in the sphere of production.
Workers do not produce fictitious capital.
Speculation, for example, represents a projected legal claim to value that may or may not materialize in the future. It is a gamble. It is akin to trading in promises and risks, without actual existing funds. Not surprisingly, risk-taking and recklessness have reached new heights under the current surreal circumstances.
Such crashes and the havoc they wreak are inevitable in an economic system based on the private ownership of competing parts of the economy. The generalized anarchy of production in society negates conscious human control and planning of the economy and inevitably leads to disharmony between production and consumption, resulting in regular upheavals and chaos.
The economy, properly speaking, is the relations people enter into with each other in the course of producing value. Every society has to produce and reproduce their means of existence. Any society that fails to do so, even for a few months, will experience serious problems.
It was some time ago when I did a show about Big Mac economics and how you start to see a decline in the living if people are forced to pay for Big Macs at beefsteak prices.
The cost of a fast food heart attack is more now than it ever has been -- and it has taken 4 years for this to happen. I told you it was a sign of things to come -- I was right. We had Alan Johnson on the show to encourage to set aside some of your money and put it into precious metals -- he was right -- it is still a good time to do so -- it is the only way as governments are getting wise to the flimsy world economy and have already invested in Gold again.
It was a simple indication of what greed; narcissism; the breakdown of societal trust; confidence in governmental and financial institutions; and the deterioration of society into the “haves” and “have nots”; set the stage for the Fourth Turning Crisis of financial collapse, war, and a violent bloody resolution by 2032.
Black Swan, the wrath of God, whatever you want to call it -- it has been coming like a slow-moving crossfire hurricane.
The dice are loaded and history has given us a glimpse of the cycles.
As I have stated -- the cycles always lead to the destruction of our liberties, freedoms, rights and wealth. In addition to the never-ending wars created around the globe to benefit their military-industrial complex, their wars on poverty, drugs, terror, CO2, and COVID have enriched them and their lackeys, while exacerbating the very things they declared war upon. None of these wars are meant to be won.
Keeping the masses in fear and ignorance makes them easier to control.
Even though the ignorant masses are kept distracted by their electronic baubles and gadgets, while being continuously propagandized and misinformed by the regime media, acting on behalf of their Deep State masters, they know something is amiss.
They are experiencing a massive dose of cognitive dissonance, as the institutions they are supposed to trust (government, media, finance, academia, medicine) tell them the economy is great, inflation is only 3%, white supremacy is the real problem, open borders are good for America, vaccines are safe and effective, the puppet president is as sharp as a tack, and it really was just a 20-year-old loner who acted alone in trying to kill Trump.
How long are we going to be lied to --and how long does it take to convince you that the media that spins this crap --after the ones that are lying to you -- to cover the asses of the criminals in charge-- they used to be for the people, the press was to expose the corruption in government not give it a mouthpiece-- and so it is business as usual in the apocalypse and business is good .
It always is for them-- but we need to weaponize truth for our benefit and understand that we are all on this sinking ship -- regardless of political party.
They weaponize lies and half-truths --- and the naive believe it because they don’t want to think that they are being fooled.. but as P.T. Barnum stated there is a sucker born every minute.
These crashes and crisis stacking are there to convince everyone that we need a Great Reset.
They are establishing a New World Order by purposely destroying the social fabric of society by financing the invasion of our country by millions of 3rd world parasites; celebrating and encouraging our descent into degeneracy by jamming transgender mental illness down our throats as normal; glorifying the sexualization, mutilation, and trafficking of children; inciting violence, mayhem and lawlessness in our cities; and making the poor poorer, while further enriching the rich.
Their goal is to mentally overwhelm us and force us to acquiesce to their degenerate dogma through fear, peer pressure, propaganda, cancellation, and threat of imprisonment. The celebration of degeneracy just peaked during the opening of the Olympic games in Paris, where degeneracy has always thrived, while the curtain came down upon humanity, normalcy, and good people living unfettered lives.
If you have been paying attention, you know with certainty this will end in catastrophe. The problem is so few have been paying attention. The masses are vying for likes on social media platforms, taught to feel rather than think in government indoctrination centers (aka public schools), told what to believe by their TVs, and instructed to use debt for everything they desire.
All the chicanery, parasitism, and schemes of the globalist banking elite, including the stock market, will only intensify economic and social problems. Inequality, unemployment, and poverty will continue to worsen as private central banks print more money-- Money from thin air --with nothing valuable backing it.
In the coming months, the domino effects of the current worldwide economic fiasco will become even more painful and visible. The consequences of the global economic collapse will be unfolding for some time. More social unrest is bound to arise at home and abroad.
England is now looking like they are amid a massive civil unrest -- and worries are that it will spread due to the continued lack of border securities.
Now with the world economy tanking, they have more to fight against --and this just adds to the already rising tensions in the Middle East.
It appears we are less than two seconds to midnight and someone is moving their hands to the doomsday setting.
The good news is that conditions are compelling more people to take nothing for granted and to investigate things and phenomena for themselves. There is a heightened sense of skepticism about information from mainstream sources. In the current rapidly changing context, one must persistently engage in a conscious act of finding out and not automatically believing the rich and their political and media representatives. The mainstream media and the cartel political parties work tirelessly to impose ideas, agendas, and arrangements on people that deprive them of their own outlook, motivation, drive, and path forward.
Everyone must take up serious investigation and analysis of what is unfolding and connect the dots. Action with no analysis won’t work. Nor will blindly repeating what the mainstream media or social media says.
That just increases confusion and incoherence. Resorting to knee-jerk reactions, trolling, or clever memes will not do either. The need for analysis and coherence is more critical than ever.
It is should be a priority to again think of long-term preparedness where you are steering your future and not the system -- as you can see the system always seems to betray us -- and we need to be independent in many ways.
People must establish their own reference points and their own perspective on how to move society forward. A new direction, aim, motivation, and organization of society and the economy are needed and possible.
People everywhere want real decision-making power over their lives, society, and economy. This power is key to unleashing the human factor essential to building the new and guaranteeing the rights of all.
