Guest Post by Martin Armstrong
As the nation begins to open back up, many are optimistic that the markets will turn back to normal. While numerous cities adopt a phased approach to gatherings that people assume will allow businesses to reopen but with restricted attendee limits, they are not looking closely at the details. Many people who applied for unemployment 6 weeks ago are being denied. There are lawyers already starting to crank up class-action lawsuits because of the haphazard approach to unemployment when people qualify but have been denied.
Many from Italy has assumed that their government has implemented our recommendation of suspending rents and mortgage payments after readers sub, fitted out letters to Trump. Whether or not that was the moving force I cannot say. But Italy is one of the few to take that realization that you cannot terminate income without also terminating their expenses. However, Italy had also another incentive to adopt our proposal. The failure to suspend mortgage payments would have cause massive bank failures if they had to declare even more nonperforming loans.
While many are rushing to do videos to tell you what to do based upon their personal opinion, I advise caution. The one recommendation that I can make is to exit government debt in Europe and in the USA stay very short-term in Federal T-Bills – no state or local debt PERIOD!
Even the stock market has seen a major shift. Dividends are being cut and most have suspended buying back shares and major companies regroup and begin to hoard cash for a rainy day. This is not over yet and it is more likely to get worse before it becomes only a memory. The biggest danger we face is that politics have become so toxic that we do not expect government to get anything right. During 9/11, the country came together. All we see now is hatred and the Democrats are more occupied with trying to win in November rather than do what is best for the nation or the people. Politics has superseded good government.
I seriously doubt that anyone can possibly offer advice based upon simple opinion in these unprecedented times. Socrates has done an outstanding job right down to forecasting this new cycle which began January 18th, 2020, would be a commodity wave led by SHORTAGES. There are trends unfolding that need to be monitored and addressed that no human can even contemplate because there are way too many variables to consider and humans naturally try to reduce everything to a single cause and effect.
We will look at providing an update report ASAP on this Corona Crisis so you have a better idea of the overall impact. There will be a light at the end of the tunnel. This will most likely unfold is the major shift in confidence from the public to private sectors. We are entering into the end of this cycle into 2032 and I have previously warned that this is the Decline & Fall of Democracy with the Rise in Authoritarianism. This is clearly marked by the massive attempt of Bill Gates to inject his Climate Change desires upon all of the world. He dropped out of college, is not a doctor, and certainly is not a climate scientist nor an economist. And we tell kids to get a degree or you will never get a job! Just run for the ruler of the world – no degree necessary.
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I applied for the ruler of the world position but the U.S. Post office lost my application letter.
For me it was the same old shit. Overqualified, etc.
Harrington Richardson