It’s time to get out of bed and realize that the economy of the United States is really beginning to unravel at the seams. Over the course of many months, there was a significant amount of denial expressed everywhere.
A significant number of the so-called “experts” believed that the Fed Reserve and the other financial institutions were in control and that everything would “return to normal” in a relatively short amount of time. However, this has not taken place. Instead, it looks as if the wheels are falling off the bus, and no one appears to know how to deal with it.
The Federal Reserve seems determined to keep increasing interest rates in an effort to combat inflation, and as a result, other central banks across the world have been obliged to do the same in order to prevent their currencies from completely collapsing in value as a result of the Fed’s actions. However, all of the interest rate rises are leading us towards a big slump in the global economy, and central bankers across Europe are openly shouting at the Fed to put a halt to the insanity.
However, the Fed also isn’t going to put a stop to the insanity, and as a result, things are likely to become much worse.
In point of fact, the Bank of America is currently predicting that the economy of the United States will shed 175,000 jobs each and every month during the 1st three months of 2023…
The Federal Reserve has predicted that beginning in the first quarter of next year, nonfarm wages and salaries will begin to decrease, which will translate to a loss of approximately 175,000 jobs per month during the initial quarter. This is because the pressure from the Fed’s war on inflation will continue to build. According to charts that were recently provided by Bank of America, employment losses are likely to persist for most of the year 2023.
“The concept is a tougher landing versus a gentler one,” Michael Gapen, director of US economists at Bank of America, said in a phone interview with CNN on Monday. “The idea is a rougher landing instead of a softer one.”
If our rate of employment loss over the first 3 months of the next year remains at such a low level, I believe that we will have achieved a significant amount of success.
Jamie Dimon, the chief executive officer of JPMorgan Chase, is another influential banker who is very nervous about the future of the American economy…
Dimon said, “But you can’t speak about the economy before talking about things in the future – which is serious stuff.” He cited inflation, monetary stimulus, and Russia’s conflict with Ukraine as examples of “serious stuff.”
He said, “These are very, extremely serious things that I think are inclined to push the United States and the world – I think, Europe is in recession, and they’re likely to put the United States in some kind of economic downturn 6 to 12 months from now.” “These are very, quite serious things that I believe are likely to force the United States and the world – I honestly believe, Europe is in recession,” he said.
In point of fact, a recession is now affecting the economy of the United States.
However, I acknowledge that things may soon get a great deal more difficult.
Even the most upbeat and positive lady on Wall St is sounding the alarm about an impending catastrophe at this point.
According to Cathie Wood, who works with Ark Investment Management, the current actions of the Federal Reserve have the potential to bring about a “deflationary crash” in this country…
It is possible that the extraordinary rise in interest rates of 13 times over the last six months – which will likely be 16 times by November 2 – has stunned not just the United States but also the rest of the globe and heightened the chances of a deflationary crash.
The Federal Reserve both gives and takes away from its customers.
At this point, Cathie ought to be well aware of that fact.
The journey down will be extremely unpleasant for herself and for everybody else who was swimming in mounds of riches during the boom years. She seemed to be a prodigy on the way back up, but the voyage down will be very terrible for both of them.
If things were to return to normal, I have no doubt that Fed would jump at the chance to come to Wall Street’s aid.
However, this is not going to take place because members of the Federal Reserve are petrified of the inflationary beast that they helped to play a significant part in generating.
Consumers and companies are facing catastrophic devastation all throughout the United States as a direct result of prices constantly increasing.
But if there’s one thing on which everyone ought to be able to reach a consensus, it’s the reality that we’re on the brink of a genuinely historic disaster.
Things will soon take place that, not long ago, would have been unthinkable for the vast majority of people.
Because I anticipate that the path that lies in front of us will be fraught with a great deal of difficulty, I would want to strongly urge you to do all you can to be ready in advance.
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