"Total US debt has jumped by $473 BILLION over the last 3 weeks alone, to a record $35.8 trillion.
This means the US has taken on $1,450 of debt for EVERY American over the last 3 weeks alone."
Kobeiessi letter
What a setup!
Excerpt From financial astrologer Ray Merryman’s weekly summary last week:
U.S. receipts for the 2024 fiscal year hit a record $4.919 trillion, up 11%, or $479 billion, from a year earlier. (Yet) the U.S. budget deficit grew to $1.833 trillion for fiscal 2024, the highest outside of the COVID-19 era.
—David Lawder, “US Budget Deficit Tops $1.8 Trillion in Fiscal 2024,” Reuters, October 18, 2024.
Yes, you read that last quote correctly. The U.S. tax receipts reached a record 4.919 trillion, up 11% from a year earlier. Yet the U.S. budget deficit rose by a whopping $1.8 trillion. The U.S. doesn’t have a tax problem. It has a spending problem. The government is not wisely performing its fiduciary role of managing the nation’s finances. How can you spend $1.8 trillion more than you take in when your receipts are at record levels and 11% higher than the prior year? Although these figures apply to the U.S., the behavior has been similar under other governments since the COVID-19 pandemic of 2020.
That’s the way I interpret it. But worldwide was the surprise for me. Or maybe moving out ov goes to private hands.
@myrna I'm not sure there are lines anymore... or that there ever was! But for today, things are less murky if you consider this is a global thing... with veneer tacked on, which is now being dropped. Dropping the facade, I mean.
It's totally set to collapse and has been, presumably to usher in cbdc / global id or whatever.
In fact, if you want a heuristic method, consider anytime anyone says, "global", it's part of this push for global governance, via the internet, which was discussed with me in detail, more then 20 years ago.
Not to say they will succeed. They may. But they may not.
Bezos sold 3B of amazon yesterday.
Warren Buffett is now building his cash balance at an unprecedented rate, even as the market hits new records. Berkshire Hathaway just announced that they are FREEZING buybacks and holding $325 BILLION of cash.
So much in the stock market is built on … air or fake numbers.
I’m thinking about most sites we go to. There are ads everywhere. Pop up. Ads on headers, footers, on the side, those rolling ads that some up as you’re scrolling down. The sites that make you go to page 1, 2, 3, etc. just to get the full story (when it’s unnecessary and just padding). The stupid trick ads with the picture of the gross, unidentifiable thing that tells you it’s the one trick to cure diabetes.
Every view, no matter if you click or not, counts as some value to the advertising business. Big numbers! Big value (on paper). High value, high dollar!
Fake fake fake.
Look, I’m the worst with this financial stuff. My husband can read a prospectus for lulz. Me: insert crispy dead wojak man.
But how can this be real?
@allie120 the issue is, you go to your broker and buy a share of stock. They take your money and give you a digital number on the screen, but they don't actually buy anything on the lit market or anywhere else.
They have no problem selling people billions of these fake shares and consequently it's all fake.
There are numerous videos of people talking and laughing about this fraud openly. People like, Jim Cramer and Ken Griffin... they put the price where they want to be and never, ever, ever, tell the truth.
So they taken everyone's money and they have a big digital ledger, but in reality, there are no shares or money.
Marge calls and "we see who is swimming naked" but this does not help the retail investor, who loses their ass (2008) while the banks get bailed out, by the taxpayer, of course.
If you read what you sign when you open a brokerage account, they can liquidate your holdings at any time, at any price they want... to save their own ass. It's no different than going to the bank and asking for your money - no, they don't have it. Or trying to cash our your large sum of crypto, good luck.
I came to understand this during the dot com crash... was entirely out of the market, because I saw it was fraudulent... I was spared 2008, but at least 20% (probably higher) of my neighbors lost their homes.
This next crash will be much, much, worse in my opinion. The idea is to devastate everyone and transition them to digital currency. They will easily get away with this, if there are not actual good people on the side of good. Odds of this are... 50/50? I have no idea the odds, really. But I personally got back in to try to defeat these people, figuring if I lose, it won't matter because we'll all be destitute... excluding less than the 1%.
If you really look into this and I have, you can see the design of it. Take crypto. They tax you, outrageously. You make a million and have to give 400K to the government so no one sells. So you make it, lose it, make it, lose it, make it lose it and meantime they make money on the volatility.
IRA exist for the same reason. People sit on the money... and large funds through your employer, same thing. There are restrictions on selling.
Meantime algorithms can easily predict investor behavior... and it's openly illegal but the SEC doesn't do anything.
When they do, do something, it's a million dollar fine on a billion(s) profit stolen for retail. Not really a fine, more like a kickback.
So there is good guys win. bad guys win, as always, or some good guys win, but only because it serves the bad guys in the bigger picture.
Place your bets. We should be finding out which, soon.