Technocracy cannot flourish until capitalism and free market economics die a permanent death. Thus, there is an unprecedented moral hazard to give Humpty Dumpty a good push off the wall. The Great Reset, Sustainable Development, Green New Deal, etc., are all positioned to destroy our prevailing economic system.
This article provides some economic markers that show the internal economic rot that is being disguised by propaganda and false news from governments and Technocrats alike. ⁃ TN Editor
The economic meltdown that is coming should not be a surprise to anyone. Throughout U.S. history, there have always been signs that a major downturn was coming, and that is precisely what we are witnessing right now. Tax revenues are way down, demand for trucking services is way down, demand for cardboard boxes is way down, the money supply is shrinking at the fastest pace in modern history, and the Conference Board’s index of leading economic indicators has already declined for 15 months in a row. At this point, anyone that cannot see what is coming has got to be willingly blind. The following are 7 trends which indicate that economic disaster is approaching very rapidly…
#1 When economic activity slows down, less tax revenue comes in. Right now, federal government and state government tax revenues are declining precipitously…
US state and local governments just experienced the worst decline in income tax revenues ever recorded.
This was the second steepest year-over-year percentage decline in history, with only the GFC having a worse outcome.
Note that Federal tax receipts are also dropped again, now at recessionary levels and approaching -10% on a YoY basis.
#2 When the economy slows down, trucking companies see less demand for their services. So it is deeply alarming that truck freight volume and spending absolutely plummeted during the second quarter…
Truck freight volume and spending in the second quarter of 2023 declined by the highest levels since the early days of the pandemic, the latest U.S. Bank Freight Payment Index revealed. Spending by shippers dropped 10.9% compared to the second quarter of 2022 while shipment volume dropped 9%, according to a statement from the Minneapolis-based bank.
Well, one look at this month’s adjustment and it’s literally a shocker: you will not hear anyone from the Biden admin or associated economist cheerleaders mention this, but the BLS reported that in July the number of full-time jobs plunged by 585,000 to 134.274 million, the biggest monthly drop since record covid crash of 14.7 million jobs!
#4 U.S. employers have already announced more job cuts this year than they did in all of 2022, and the hits just keep on coming…
CVS Health said Monday it is cutting approximately 5,000 jobs to focus more on healthcare services for its customers.
The move, which is supposed to help the company save money, will affect workers primarily in corporate jobs, the Wall Street Journal reported.
#5 Thanks to rapidly rising interest rates, monthly costs for new homebuyers are almost 20 percent higher than they were a year ago. This is absolutely crushing the housing market…
The monthly cost for a potential homebuyer has surged nearly 20% compared with a year ago as prices remain elevated, according to new data.
During the four-week period ending July 30, the monthly mortgage payment for the typical U.S. homebuyer sat at $2,605, 19% higher than the same period a year earlier, according to Redfin.
#6 The fact that delinquency rates for commercial real estate mortgages are skyrocketing is yet another sign that we are in the early stages of the worst commercial real estate crisis in all of U.S. history…
The delinquency rate of commercial real estate mortgages on office properties that had been securitized into Commercial Mortgage-Backed Securities (CMBS) spiked to 5.0% by loan balance in July, up from a delinquency rate of 2.8% in April, having now spiked by 2.2 percentage points in three months, by far the biggest three-month spike in the data going back to 2000, and by 3.4 percentage points so far this year, by far the biggest seven-month spike, according to Trepp, which tracks and analyzes CMBS.
#7 The share of the U.S. population that cannot even afford “a $400 emergency expense” just continues to go up…
“The share of U.S. adults who said they would cover a $400 emergency expense with cash or equivalents dropped by 2 percentage points from the previous quarter to 46%, highlighting how cash-strapped many Americans are despite the recent decrease in headline inflation,” according to the survey developed by Bloomberg and conducted by intelligence company Morning Consult.
But Joe Biden and his defenders continue to insist that everything is just fine.
Leftist Joy Behar — who reportedly earns $7 million annually as a co-host on “The View” — said on Friday’s program that “the economy is booming” and “people are having an easier time putting bread on the table” in a passionate defense of President Joe Biden.
For those that are making millions of dollars a year, I am sure that everything must seem great.
But for the rest of us, things are tough.
Meanwhile, our banks continue to experience really weird “technical glitches”. For example, in recent days many Wells Fargo customers have been greatly upset about money disappearing from their accounts…
On X, the platform formerly known as Twitter, users complained about their disappearing funds. One bank customer said they saw the news about the problem right as they noticed their deposits weren’t in their account.
“Right before this popped up in the news I saw that my deposits weren’t in my account,” their tweet read. “I was trying to pay bills and none would go through. This is so unacceptable.”
The company responded in a statement to CNN that a “limited amount” of their customers are experiencing the disappearing deposits. They said most of them were “resolved” and that they would fix the problem soon.
This is another example which shows why it is wise to never keep all of your eggs in one basket.
Our financial institutions are far more vulnerable than most people realize, and the cyberattacks that we have seen so far are just a small preview of what is coming.
Unfortunately, most Americans don’t understand any of the things that I have discussed in this article.
Most Americans are simply trusting that our leaders have everything under control, and so they will be bitterly, bitterly disappointed when they finally realize the truth.
Patrick Wood is a leading and critical expert on Sustainable Development, Green Economy, Agenda 21, 2030 Agenda and historic Technocracy. He is the author of Technocracy Rising: The Trojan Horse of Global Transformation (2015) and co-author of Trilaterals Over Washington, Volumes I and II (1978-1980) with the late Antony C. Sutton.
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DawnieR
August 8, 2023 2:09 pm
Actually, it’s going to be the RE-BIRTH of REAL Capitalism! Populations will REJECT the CBDC and begin LOCAL Commerce; trading/transactions among themselves. SO…..people HAD BETTER have a SKILL to ‘market’ AND/OR goods to TRADE……and THAT will be the Currency! (UNTIL, We, The People create the next form of ‘money’).
Lmao, the masses will gladly accept CBDC, especially when they get some free UBI with it. You tend to forget, most people don’t want actual freedom, they want to be told what to do, most people don’t want the responsibility of true individualism, they want to be slaves. When chaos breaks out, the masses will look for a savior to stop the chaos, regardless of who that savior is, they would even elect Satan in a time of crisis. People are cowards at heart and will willingly sacrifice their children if it came down to saving themselves, just like in… Read more »
Capitalism was only used by the world controllers to get the necessary capital to develop the technology and install the infrastructure to have their technocratic world order! BTW, capitalism is all about profit over everything, so it’s no surprise that America poisoned their citizens for decades to profit of their illnesses by selling them medical care. It’s also one of the reasons why American citizens consume over 98% of the worlds prescription drugs. In a capitalist society, you turn your citizens into narcissistic, sociopaths. Profit and status over everything. but it doesn’t matter what form of governance or economic system… Read more »
[…] The Coming Death Throes Of Capitalism And Free Market Economics […]
Goalive
August 27, 2023 1:23 pm
The really interesting thing is that everyone has an opinion about “capitalism”, although the term is more than vague. The simplest definition is probably that in capitalism, private individuals set up businesses and earn a living with their families and employees by producing things that others can put to good use. It is their risk if they succeed. But what does this basic definition have to do with what we know today as capitalism? NOTHING. With the invention of mass production, the problem began that more was produced, and in inferior quality, than people needed. It was also no longer… Read more »
Actually, it’s going to be the RE-BIRTH of REAL Capitalism! Populations will REJECT the CBDC and begin LOCAL Commerce; trading/transactions among themselves. SO…..people HAD BETTER have a SKILL to ‘market’ AND/OR goods to TRADE……and THAT will be the Currency! (UNTIL, We, The People create the next form of ‘money’).
Lmao, the masses will gladly accept CBDC, especially when they get some free UBI with it. You tend to forget, most people don’t want actual freedom, they want to be told what to do, most people don’t want the responsibility of true individualism, they want to be slaves. When chaos breaks out, the masses will look for a savior to stop the chaos, regardless of who that savior is, they would even elect Satan in a time of crisis. People are cowards at heart and will willingly sacrifice their children if it came down to saving themselves, just like in… Read more »
Capitalism was only used by the world controllers to get the necessary capital to develop the technology and install the infrastructure to have their technocratic world order! BTW, capitalism is all about profit over everything, so it’s no surprise that America poisoned their citizens for decades to profit of their illnesses by selling them medical care. It’s also one of the reasons why American citizens consume over 98% of the worlds prescription drugs. In a capitalist society, you turn your citizens into narcissistic, sociopaths. Profit and status over everything. but it doesn’t matter what form of governance or economic system… Read more »
Go back to sleep. This isn’t a movie, sweetheart. Just because the lights are on doesn’t mean the bad people are gone.
Der Kapitalismus wird in Form eines Korporatismus weiter gehen. https://www.inclusivecapitalism.com/
[…] The Coming Death Throes Of Capitalism And Free Market Economics […]
The really interesting thing is that everyone has an opinion about “capitalism”, although the term is more than vague. The simplest definition is probably that in capitalism, private individuals set up businesses and earn a living with their families and employees by producing things that others can put to good use. It is their risk if they succeed. But what does this basic definition have to do with what we know today as capitalism? NOTHING. With the invention of mass production, the problem began that more was produced, and in inferior quality, than people needed. It was also no longer… Read more »