A Decade Lost

The trouble is that the people in power now seem to have no clue about the source of the problem or the fix. [Gilder's Daily Prophecy] November 28, 2022 [WEBSITE]( | [UNSUBSCRIBE]( Over 62 And Collect Social Security? Take Action Immediately! [Click here to learn more]( [If you’re over the age of 62 and currently collect Social Security, you need to prepare now](. Because Biden has given our country the worst inflation in decades – and many warn things will only get worse from here. Worse yet, the Social Security check you receive now may not keep pace with inflation… [Which is why, if you don’t act now, you could fall behind in the months ahead](. Is your retirement at immediate risk? [Click here now to get the simple, step-by-step actions to survive inflation](. A Decade Lost [Jeffery Tucker] JEFFREY TUCKER Dear Reader, The year began with promises that the bad times would end soon. Inflation would subside. Financial markets would calm down and start rising again. Supply chains would fix themselves. Markets would normalize, just wait and see. Now we are headed to the winter of our discontent. Headline writers have been competing with each other for just how dreary they can be. The Wall Street Journal went all out earlier this year, predicting a “lost decade” for financials. But the message was even broader: it will take another 8-10 years to straighten all this out. We might add: if it ever gets straightened out. The trouble is that the people in power now seem to have no clue about the source of the problem or the fix. The ignorance is truly astonishing. It would appear that several decades of miseducation in every field (from economics to history to biological science) have taken their toll. The miseducated youth eventually got jobs and rose up the ranks to be in charge. Now we have utterly blind leadership in every sector. Always More Force A good example was on display recently with the great baby formula fiasco. Shortages had been growing for months but they became ever more intense. The administration ignored the problem for as long as possible. But the online cry from new moms became absolutely deafening. Finally, government decided to act: by invoking the Defense Production Act. It’s a dangerous tool because it essentially takes control of private industry. And yet, a hundred years of central planning should have taught us that you cannot make products and services magically appear merely by waving around an edict. Plus, there is a vast regulatory thicket governing baby formula. The FDA has to approve and monitor its production in the name of safety. They don’t do this for any other food or drink sold at the store but because this involved babies, the FDA presumes it to be their purview. With that of course comes corruption. The FDA has approved only three large companies to make it, and the program called WIC further distorts the market because it too massively subsidizes the cartel. So when one producer, Abbott, became concerned about one of its plants, it used the cautionary principle and shut it down. The FDA took its own sweet time to reauthorize the opening. I’ll stop with the details here: suffice it to say that this was a massive disaster in the making. So here we are in the land of plenty and suddenly, seemingly out of nowhere, the babies can’t get food! Cross the border to Mexico and the shelves are full of products. Same anywhere in the world. This is a U.S. problem, owing to our disastrous deep state. So what did Biden do? He invoked the worst-ever Cold War emergency law, to mandate that planes fly formula into the U.S. from abroad, but that too faced a problem because laws and regulations strictly control these imports. So the administration is working to liberalize that too. The very clear answer here would be to simply free the market. Let all kinds of producers jump in right away, with the full knowledge that this is not rocket science. Another option would be to allow imports of all kinds immediately. Even without any edicts, and enough of a profit opportunity, the market would be cleared in a matter of days. But no! For these people, the answer is always and everything the same: more force! REVEALED: How Biden will End America [Click here to learn more]( If you suspected President Biden is intentionally destroying America, you are right! [And this Congressional document proves it](. And once he implements the last phase of his plan… You might lose access to your bank account, your credit card, your life savings and your retirement benefits, including social security… all just because of your political views. [Click here and learn the five steps you need to take to protect yourself](. The Poor Fed All financials are now under intense pressure. By now, the usual response by the Fed would be to support the markets. But look at where we are: the Fed is babbling on and on about how they are dedicated to crushing inflation by reducing their balance sheet. So you have a stated policy at war with a long-practiced policy. How will this be resolved? If anyone expects bravery from the Fed at this point, they haven't been paying attention. We can fully expect some sporadic interventions day to day from the Fed with various attempts to protect against plunges, in the hope of walking down the highs more gradually than the market wants to go. This is because the Fed truly does fear contagion. Meanwhile, inflation is running loose as never before. Food prices have started to rise again. Rents are way up. Meanwhile, defaults in cars and housing loans are already starting to make an appearance. What a world: loan defaults amid inflation and falling financials! No one is prepared for what this reality could mean for American life. And what is the administration’s answer? Publicly, it is nothing but prattle about making the rich pay their fair share. The White House spokesperson stumbled very badly on this point. She tried three times but failed to explain how raising taxes fixes inflation. Meanwhile, the more radical voices in the party have already started pushing price controls in the form of anti-gouging legislation, exactly as we predicted last fall. This is absolutely certain to happen: no strict and legislated prices but just threats not to raise too many prices, too fast! No History, No Future Previously we wrote about the tragedy that people cannot learn from history. Check this weird and not-at-all unexpected news from the WSJ the following morning: “Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end. The share of subprime credit cards and personal loans that are at least 60 days late is rising faster than normal… Delinquencies on subprime car loans and leases hit an all-time high in February.” Will cars be the new version of housing in 2008, a trigger that causes financial disruption in all lending markets? Maybe, but housing is not off the hook either. Commentators today are utterly mystified about how slowing sales can coincide with continually rising prices. Gosh, no one can explain this, hahaha! What sector will be hit next by the brutal effects of the great bust? If we really are talking about a lost decade, we have a very long way to go before this ends. Regards, [Jeffrey Tucker] Jeffrey Tucker Crypto millionaire James Altucher just revealed the cryptocurrency he’s piling into now… and it’s NOT Bitcoin… [Click here to learn more]( He reveals exactly what it is [on this page]( predicts 8,788% returns. However, events are happening RIGHT NOW in the cryptocurrency space that could swallow up this opportunity forever. If you missed the first crypto boom… do NOT miss this one. This could be your last chance for easy profits. [Click here to find out what James is recommending now](. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2022 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@gildersdailyprophecy.com. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Gilder's Daily Prophecy is committed to protecting and respecting your privacy. We do not rent or share your email address. Please read our [Privacy Statement.]( If you are having trouble receiving your Gilder's Daily Prophecy subscription, you can ensure its arrival in your mailbox by [whitelisting Gilder's Daily Prophecy.](