The Greatest depression is coming, are you ready?
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Swiss Finance Minister Says New Rules Needed After Credit Suisse
https://www.bnnbloomberg.ca/swiss-f...ew-rules-needed-after-credit-suisse-1.2015756
(Bloomberg) -- Swiss Finance Minister Karin Keller-Sutter said getting UBS Group AG to buy Credit Suisse was the less risky move and that the government must act to ensure that taxpayers are protected in any future banking crises.
“We have to act, we have no other choice,” she said in an interview with Neue Zurcher Zeitung. “We have to ensure that a major bank can go under without, in the worst-case scenario, dragging an entire country into the abyss.”
https://www.bnnbloomberg.ca/swiss-f...ew-rules-needed-after-credit-suisse-1.2015756
(Bloomberg) -- Swiss Finance Minister Karin Keller-Sutter said getting UBS Group AG to buy Credit Suisse was the less risky move and that the government must act to ensure that taxpayers are protected in any future banking crises.
“We have to act, we have no other choice,” she said in an interview with Neue Zurcher Zeitung. “We have to ensure that a major bank can go under without, in the worst-case scenario, dragging an entire country into the abyss.”
"Banking is a confidence game"
If people lose confidence the whole system collapses.
We have seen Biden and UBS act to "restore confidence" but the underlying issue was that the banks had unrealized losses in the bond market because of the war and inflation. As long as the war goes on we will have more bank collapses because of two reasons.
1. There will be shortages causing inflation and inflation requires interest rates to go up.
2. War causes governments to borrow money, banks prefer these loans so this will dry up the credit market causing a recession/depression, it will cause unemployment, bankruptcies, defaults, and for people and companies to pull money out of the banks turning unrealized losses into realized losses.
So SVB, Signature Bank, 1st Republic and Credit Suisse are not past tense, it is a warning of what is to come.
No one is trying to end the wars, or decrease inflation. Instead we get a steady stream of lies. They have redefined the CPI several times, if we simply look at the inflation on a single item like a mortgage or groceries or a car we can see clearly that inflation is much higher than the "official number". They tell you it is 6%, instead by all our measures it is 10% or higher, in many cases 20%. So then go back to the key point, banking is a confidence game, if people lose confidence the system collapses. If you lie to people and they know you are lying you lose confidence.
If people lose confidence the whole system collapses.
We have seen Biden and UBS act to "restore confidence" but the underlying issue was that the banks had unrealized losses in the bond market because of the war and inflation. As long as the war goes on we will have more bank collapses because of two reasons.
1. There will be shortages causing inflation and inflation requires interest rates to go up.
2. War causes governments to borrow money, banks prefer these loans so this will dry up the credit market causing a recession/depression, it will cause unemployment, bankruptcies, defaults, and for people and companies to pull money out of the banks turning unrealized losses into realized losses.
So SVB, Signature Bank, 1st Republic and Credit Suisse are not past tense, it is a warning of what is to come.
No one is trying to end the wars, or decrease inflation. Instead we get a steady stream of lies. They have redefined the CPI several times, if we simply look at the inflation on a single item like a mortgage or groceries or a car we can see clearly that inflation is much higher than the "official number". They tell you it is 6%, instead by all our measures it is 10% or higher, in many cases 20%. So then go back to the key point, banking is a confidence game, if people lose confidence the system collapses. If you lie to people and they know you are lying you lose confidence.
Do you want to guess how much groceries have gone up since 1990?
https://www.youtube.com/shorts/A-RfPwAvRZo
https://www.youtube.com/shorts/A-RfPwAvRZo
Wow, I figured it out.
It's Engineered to Trap You... It's All Planned! | Pastor Tom Hughes & Britt Gillette
This guy explains the situation with the banks and according to him the banking crisis should be getting better, but it is getting worse because of some "unknown factor". I have figured out what that unknown factor is.
He describes the banking system as a ponzi scheme which depends on an ever increasing debt to survive. Here is the problem, the people who are the ones contributing to the economy and the debt load are those who are working, especially for fortune 500 companies. However, we have seen that death rates among these workers has sky rocketed, cancer rates have sky rocketed, and layoffs due to AI have just started to take off. We are talking about tens of thousands of people being replaced by AI, robots, drones, self driving vehicles and self checkouts, etc.
These people who die or are laid off are no longer borrowing money to buy a house or car. Instead of making deposits they are making withdrawals. Likewise with AI. When you replace a worker with AI the AI does not buy a car, or a house, it doesn't spend money on groceries or go on a vacation.
This is what will kill the banks, all these people dying, getting sick or being laid off. The debt load will shrink as the population of employed people shrinks.
It's Engineered to Trap You... It's All Planned! | Pastor Tom Hughes & Britt Gillette
This guy explains the situation with the banks and according to him the banking crisis should be getting better, but it is getting worse because of some "unknown factor". I have figured out what that unknown factor is.
He describes the banking system as a ponzi scheme which depends on an ever increasing debt to survive. Here is the problem, the people who are the ones contributing to the economy and the debt load are those who are working, especially for fortune 500 companies. However, we have seen that death rates among these workers has sky rocketed, cancer rates have sky rocketed, and layoffs due to AI have just started to take off. We are talking about tens of thousands of people being replaced by AI, robots, drones, self driving vehicles and self checkouts, etc.
These people who die or are laid off are no longer borrowing money to buy a house or car. Instead of making deposits they are making withdrawals. Likewise with AI. When you replace a worker with AI the AI does not buy a car, or a house, it doesn't spend money on groceries or go on a vacation.
This is what will kill the banks, all these people dying, getting sick or being laid off. The debt load will shrink as the population of employed people shrinks.
Wow, great point!
The banks are preparing for a collapse on par with the Great depression. However, there are unregulated entities like hedge funds that they have no control over and don't regulate. The thought is that one of these will be made the scape goat (or another ponzi scheme going bust like Bernie Madoff's). Then they will say they caused the massive collapse and the solution is to have a digital currency so the government can monitor everyone on the planet. Why else would everyone agree to this on pain of death? It has to be the response to a major crisis and there must be a scapegoat, and this explains why the government allows these unregulated businesses to operate that potentially could bring down the economy, they will need a scape goat to blame.
The banks are preparing for a collapse on par with the Great depression. However, there are unregulated entities like hedge funds that they have no control over and don't regulate. The thought is that one of these will be made the scape goat (or another ponzi scheme going bust like Bernie Madoff's). Then they will say they caused the massive collapse and the solution is to have a digital currency so the government can monitor everyone on the planet. Why else would everyone agree to this on pain of death? It has to be the response to a major crisis and there must be a scapegoat, and this explains why the government allows these unregulated businesses to operate that potentially could bring down the economy, they will need a scape goat to blame.
About 1.2 billion sneakers are sold each year and the labor cost is about $25 per sneaker. That is about $30 billion in labor costs per year. Now suppose they could replace those workers with robots and AI that could do this for $20 billion a year. Well then you could also build them in the US or locally and save money on shipping and other costs which amount to about $3.50 per shoe or $4 billion a year. You save $14 billion a year and eliminate the bad image from sweat shops. But it is better, Reebok, Adidas, New Balance all do this, however, they use 3d printer to make the soles and a special robot to make the uppers. They can make them to order so an order comes in on the internet, they make it and ship it. No warehouse, no retail outlet. This means they can cut another 40% off the price. Also, they can make the sneaker to fit precisely to your foot. There are 300,000 people who work selling shoes. Over the near term that can probably drop to 200,000 as people will buy online because it is cheaper with better selection.
Here are the receipts
In 2020 American's savings was over $6 trillion
Today it is $839 billion.
Americans’ Finances Took A Beating In 2023 Amidst Persistent Inflation And High Interest Rates
To make up the difference, Americans are having to burn through their savings, declining to a cumulative $839.8 billion in November, down from the over $1 trillion Americans held in May and down even further from the all-time high of nearly $6 trillion held in April 2020 following COVID-19 pandemic stimulus checks and business slowdowns, according to FRED. The lack of discretionary cash for consumers led to only a 3.1% increase in retail sales around the holiday season year-over-year, which matches inflation, indicating no real gain.
https://dailycaller.com/2023/12/30/americans-finances-beating-2023-inflation-interest-rates/
In 2020 American's savings was over $6 trillion
Today it is $839 billion.
Americans’ Finances Took A Beating In 2023 Amidst Persistent Inflation And High Interest Rates
To make up the difference, Americans are having to burn through their savings, declining to a cumulative $839.8 billion in November, down from the over $1 trillion Americans held in May and down even further from the all-time high of nearly $6 trillion held in April 2020 following COVID-19 pandemic stimulus checks and business slowdowns, according to FRED. The lack of discretionary cash for consumers led to only a 3.1% increase in retail sales around the holiday season year-over-year, which matches inflation, indicating no real gain.
https://dailycaller.com/2023/12/30/americans-finances-beating-2023-inflation-interest-rates/
Retailers closed down over 4,600 stores in 2023, with more to come in 2024
When Bed Bath & Beyond filed for bankruptcy in April, it led to the closure of 866 stores, a Coresight report finds.
Major retailers have experienced a wave of store closures in 2023, an 80% surge from the year prior, Coresight Research reports.
The top reasons include bankruptcy of one major chain and some stores just not performing well in certain areas. The continued growth of online shopping is another factor, and other retailers said that theft is a major reason for their decision to close some stores, according to CBS News.
When Bed Bath & Beyond filed for bankruptcy in April, it led to the closure of 866 stores, a Coresight report finds. The second largest number of closed stores was from Tuesday Morning, with 463 closures. U.S. retailers closed down more than 4,600 stores altogether in 2023.
Coresight's survey shows that big retailers such as CVS Health had to close down 300 stores, 7-Eleven had to close down 184 stores, Family Dollar had to close down 102 and Walgreens Boots Alliance shut down 172.
https://justthenews.com/nation/economy/retailers-closed-down-over-4600-stores-2023-more-close-2024
When Bed Bath & Beyond filed for bankruptcy in April, it led to the closure of 866 stores, a Coresight report finds.
Major retailers have experienced a wave of store closures in 2023, an 80% surge from the year prior, Coresight Research reports.
The top reasons include bankruptcy of one major chain and some stores just not performing well in certain areas. The continued growth of online shopping is another factor, and other retailers said that theft is a major reason for their decision to close some stores, according to CBS News.
When Bed Bath & Beyond filed for bankruptcy in April, it led to the closure of 866 stores, a Coresight report finds. The second largest number of closed stores was from Tuesday Morning, with 463 closures. U.S. retailers closed down more than 4,600 stores altogether in 2023.
Coresight's survey shows that big retailers such as CVS Health had to close down 300 stores, 7-Eleven had to close down 184 stores, Family Dollar had to close down 102 and Walgreens Boots Alliance shut down 172.
https://justthenews.com/nation/economy/retailers-closed-down-over-4600-stores-2023-more-close-2024
China turning into Detroit
China’s Largest Industrial City Collapses! Major Factories in Suzhou and Dongguan Shut Down
AI, robotics and 3d printing will hit China hard. The minute it is cheaper, faster and better to use technology rather than Chinese workers it will be the end of their business model. There will always be an advantage to a business to make the manufacturing local. So if it is economic you know they will all leave China.
If we are seeing this today you know in boardrooms they saw this five years ago. So ask yourself, is it simply a coincidence that China's implementation of lockdowns and mass vaccination was the most strict, or were they intentionally trying to cut the population before this crisis hit?
China’s Largest Industrial City Collapses! Major Factories in Suzhou and Dongguan Shut Down
AI, robotics and 3d printing will hit China hard. The minute it is cheaper, faster and better to use technology rather than Chinese workers it will be the end of their business model. There will always be an advantage to a business to make the manufacturing local. So if it is economic you know they will all leave China.
If we are seeing this today you know in boardrooms they saw this five years ago. So ask yourself, is it simply a coincidence that China's implementation of lockdowns and mass vaccination was the most strict, or were they intentionally trying to cut the population before this crisis hit?
Ghost towns in China are the "canary in the coal mine" that has died telling you what is going on. Robotics, machine learning, AI, and 3D printing has pulled the rug out on the growth of China's manufacturing. This will sweep the world as this new suite of technology will replace 80% of workers.
Ghostly Xiong'an Station! The $110 Billion ‘Xiong’an New Area’ Remains a Ghost Town After 6 Years
Ghostly Xiong'an Station! The $110 Billion ‘Xiong’an New Area’ Remains a Ghost Town After 6 Years
Our debt is now $34 trillion and it took 105 days to add a trillion in debt from $33 trillion. At that rate we will add 3.5 trillion to our debt a year, but it won't stay at this rate, it will grow exponentially as the cost to carry the debt increases and the cost of the war increases and the effect of the war is inflation.
But it gets worse because BRICS is now in effect and the BRICS members can dump as much as $1 trillion of US debt, if no one buys it the Fed will simply print money and that will encourage others to dump debt.
But it gets worse because BRICS is now in effect and the BRICS members can dump as much as $1 trillion of US debt, if no one buys it the Fed will simply print money and that will encourage others to dump debt.
When you cheat and scam people they will mark you and avoid you. How does a contractor operate if no one will agree to work for him? Going forward people will demand to be paid up front, in advance. They won't be able to do that and so many of these businesses will grind to a halt. If you can't hire people your quality and service will fall apart and no one will want to buy your service or product. What is happening in China is like dominoes or Jenga. You pull out these laborers at the bottom of the stack and the whole thing collapses.