The Credit Crunch Chronicles

Lessons from the Great Depression [Altucher Confidential] April 25, 2023 [WEBSITE]( | [UNSUBSCRIBE]( Credit's just smacked headlong into a wall. But can it truly rival the Great Depression? Some folks are making that case. [Hero_Image] The Credit Crunch Chronicles By Chris Campbell IMPORTANT OPPORTUNITY: From The Vice President Of Publishing. Doug Hill, VP of Publishing, just recorded a [2-minute video clip]( making a major announcement for readers like you. And it could alter the course of your life forever. [You’ll understand everything when you click here to see this important message](. [Chris Campbell] CHRIS CAMPBELL Dear Reader, The Great Depression began with a big bang. October 24, 1929, also known as "Black Thursday,” marked the beginning of the end. After that, employment soared to at least 25%. Banks imploded like collapsing stars, and bread lines snaked around city blocks. It was a financial freefall, plunging millions into despair. As the economic situation deteriorated, banks faced an increasing number of loan defaults and deposit withdrawals. Clinging to their dwindling reserves like liferafts, they grew wary of extending credit, desperate to remain afloat. In their caution, banks tightened the purse strings, making it more and more difficult for businesses and consumers to secure loans. This, in turn, stifled the flow of money and fueled the downward spiral of economic activity. Cornered by the credit crunch, businesses and consumers slashed spending and shelved investments. Demand for goods and services waned, compelling companies to scale back production and cast off workers, perpetuating a vicious cycle of economic decay. Keep in mind, the Great Depression was a global malady, and the credit crunch left no corner of the world untouched. The disintegration of international trade and the dwindling economic activity in foreign lands sent shockwaves through the global economy, leaving few unscathed. Fast forward to today… Credit's just smacked headlong into a wall. But can it truly rival the Great Depression? Some folks are making that case. Let’s see. Credit Crunch is Here Zero Hedge [dropped a bombshell of an article yesterday]( penned by Eric Peters, CIO of One River Asset Management. It tells the tale of a real estate maestro who's erecting a colossal 30-story tower in a glitzy U.S. city. But then -- BAM! -- the bank pulls the rug out from under him, leaving him high and dry. This developer frantically dialed over 100 banks, but no one threw him a lifeline. Now, this guy's no tenderfoot. He’s been around the block. He built skyscrapers amidst the smoking ruins of the 2008 crisis. But he's never seen anything like this. If this is a sign of what’s to come, then watch out. This isn’t a run-of-the-mill recession… It's a credit black hole, sucking in anything that gets too close. If this contagion spreads, banks will be in a full-blown panic, like a claustrophobe trapped in a broom closet. Bad news for jobs, businesses, and especially credit junkies. This could have a domino effect, making it tough to get loans for cars, businesses, even home repairs. We'll know in the next year or so if this is just a garden-variety recession or if we're truly in uncharted waters. But until then, buckle up – it's going to be a bumpy ride. The Great Depression had banks hoarding cash, afraid to lend, while the stock market tumbled faster than a drunk gymnast. Today, we see banks clamming up, slamming the door on loans and leaving desperate borrowers out in the cold. Of course, there are some key differences between today and the GD. The GD was a perfect storm of policy missteps, protectionism, and a global financial system gasping for air. Today, we find ourselves with central banks that have learned from history... Battle-hardened, poised, and equipped with insight... Primed to tackle any economic curveball thrown their way... (... LOL.) But here’s the good news. Urgent Note From James – Response Requested By April 25, 2023 [Click here for more...]( Hey, it’s James. [I just made a massive change to my Altucher’s Investment Network newsletter.]( This is one of the biggest changes to a newsletter in the history of our business… As far as I know, nothing like it has ever been done before. What’s going on? In short, I’m adding 3 brand-new benefits to this all-new “Pro level” of Altucher’s Investment Network. And as one of my readers, I’d hate to see you left behind. That’s why – for a very limited time, until the timer below hits 0 – [you’ll be able to upgrade your current subscription to this new “Pro level” by clicking here.]( [Click here to learn more]( [Seriously. Just click here now to see how to claim your upgrade.]( The Opportunity Most believe that everyone went bankrupt during the GD, but they didn't... Some made millions. People also assume that everyone closed their businesses during those times, but many started new ones. One thing we know… Recessions are characterized by economic contraction, reduced consumer spending, and increased unemployment, which can lead to a decline in corporate earnings and stock prices. In this environment, income plays become more attractive as they can provide a steady stream of income and a cushion against market volatility. But the time to position yourself in these plays is before everyone else catches on. The clock is ticking. Fortunately, we know a guy. The Banker Our colleague Jim Rickards calls him “THE BANKER”. In 2022, while other hedge funds lost $200 billion... The Banker’s model portfolio grew by an astounding 190%. Which means this man can literally generate 2-decades worth of market returns... ...in a single calendar year... ...even when the market is crashing. And on April 27th, you are going to learn how this financial heavyweight does it. Don’t miss this FREE opportunity to meet with this income expert. [Click here to RSVP to THIS event with The Banker on 4/27 at 7pm ET.]( Clicking the link above automatically registers you for Rickards Rolodex, but does not obligate you in any way to attend the event. By reserving your spot, you will receive event updates. We will not share your email address with anyone. And you can opt out at any time. [Privacy Policy.]( Until tomorrow, [Chris Campbell] Chris Campbell For Altucher Confidential --------------------------------------------------------------- Crypto Legend Reveals: “The Next Bitcoin” He called Bitcoin at $61. Now he says this next crypto will be even bigger. In fact, he’s targeting 25X gains over the next year alone. [>>Click here now for the details]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. 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