You Will Pay for This, One Way or Another

Reality has a way of prevailing over what we imagine to be true. [Gilder's Daily Prophecy] October 28, 2021 [UNSUBSCRIBE]( | [ARCHIVES]( The most important 42 seconds of your life? [Countdown timer]( The first 42 seconds of this video could change your life forever… Because it reveals [details on an event]( massive that it could send stocks plummeting by more than 75% as soon as this upcoming Monday… Billionaires like Charlie Munger, and Warren Buffett are already getting prepared for this kind of event… And you should too...but you don’t have long… Because come Monday...it may already be too late. [Click here to see the video]( You Will Pay for This, One Way or Another [Jeffrey Tucker]Dear Daily Prophecy Reader, Before we get to today’s issue, there is a MASSIVE development in the markets you need to be aware of. If you have money in the market you need to protect… Or more importantly, wondering how we could be on the verge of one of the largest stock market sell offs in history… Then you need to [watch this quick video immediately](. Billionaires across the globe have been sounding the alarm bells. And according to our research, this coming Monday could be the day disaster strikes. And if you want to learn a unique strategy that can hedge your portfolio… Allowing you to take home enormous returns in the process… [Then don’t waste a single moment. Watch this before it’s too late](. --------------------------------------------------------------- You never wanted to live through such times. I didn’t either. My own mindset two years ago was essentially that of a Victorian intellectual. I believed that we mostly had life figured out, mostly had unity on the basic principles of life. We should protect liberty through law. Government should be frugal or at least have plans in place to pay for what it spends. That peace is better than war. That the military is brutal and should be deployed sparingly and never against masses of the domestic population. Yes, sure there were bad things going on, and plenty of messes out and about. But generally, innovation was keeping up, stocks were rising, inflation was mostly flat or tolerable, war was in the process of being discredited, and healthcare and inflation could be reformed in a way that was market oriented. Taxes could even but cut more, provided the right people controlled the Congress. There were crazy ideological groups on the loose — left and right — but they were far from being mainstream, much less a threat. In other words, I believed that things could only get better, maybe not right away, but over time. The darkness fell in March 2020. We had no idea (at least I did not) that the foundations of civilization itself had cracked. The ceiling too. Both collapsed at the same time. What that month revealed to us — and the subsequent 19 months further underscored — is that we were far worse off culturally and intellectually than I ever knew. I talk to people all the time who still think that we can get through this without paying a heavy price. It’s nonsense. You can move to a red state. You can save your money. You can disappear from social media. You can stock up on essentials. All of those are worthy ideas. But there will be no one who will be safe from the coming storms. Is this a ticking time bomb to another financial collapse? If you own stocks, you may want to cash out immediately. And if you hold dollars, you need to take a look at the chart above. Because, according to one of America's most respected economists, the data in this chart signals a possible COLLAPSE ahead for the dollar. What he revealed is not pretty. [But you still need to hear it -- follow this link for details.]( The Insane Spending Congress has been on a wild spending spree ever since those days, simply because they could. It was this binge that allowed the insanity at the state level to continue on and on. Essentially, Congress paid for the country to destroy itself. I will illustrate the astonishing shock of what happened with a chart that, for some odd reason, I’ve never seen printed in the mainstream press. It shows total public debt as a percentage of GDP. [Federal Debt] Here is another way to look at the same problem. This chart shows the percentage increase in federal government spending. What has happened in the last two years makes every administration we’ve ever had look like a pillar of frugality. [Government Expenditures] This is not an illusion. It represents the grim reality. The world as we know it was blown up. This is all reality: this debt will need to be paid. I can count a number of ways. 1. Inflation. [This is already in double digits among producer prices](. Next month’s consumer price index is going to come as a shock. Except that it will be reported with as much calm nothingness as possible, so that the natives won’t get restless. This inflation itself will be underreported simply because we have a nation full of empty shelves. Everywhere. On random things. I was poking around some stores last night and observed that there were rows and rows of empty shelves in the store. This is nuts. Stores fight for shelf space. They keep as much inventory out as possible. Now they are moving shelves around to disguise the lack of goods. The rationing is already here with liquor and random goods in stores, but the Biden administration won’t hesitate to impose it on a broader class of goods as we approach year’s end. The Fed right now is toying around with the idea of restricting inflationary monetary policies, possibly raising rates and curbing its debt purchases. Jerome Powell is making ever louder noises as a warning to Wall Street that the party could be ending soon. You know why markets have stopped listening to him? Because they do not believe him. They know that he will not do this because the damage is too deep and wide. For The Fed to end its policies would cause rates to soar, lending to collapse, and the economy to tumble into a depression like we’ve never seen before. Therefore the chairman of The Fed is, for now, about as influential for current markets and policies as the pumpkin I will soon carve for All Hallows Eve. He has one job right now and he knows it: keep this illusion alive as long as possible. When the chaos finally happens, his plan is to stay out of the way. 2. Taxation is the second way to pay. The IRS will certainly be monitoring more money coming and going from your bank account. The protests against the idea are feeble and temporary. This will happen within the year. Will it work at raising revenue? I doubt it. It will however be used as another tool for targeting regime enemies. This power will reveal everyone as a viable subject for a tax audit. They can continue for years and drive people to despair and suicide. They usually cost more than they raise. What about taxing the billionaires? Even if that works, and it will not because there is a reason these people are billionaires (they are smart), it would only pay the debt of a few days. When the total productivity of a nation falls below the accumulated debt that a nation owes, you are technically in default. Speaking of which: 3. Find new markets for the new debt. Five years ago, there were markets for US debt all over the world and they were expanded. But in the meantime, the US gave up its world leadership position. It encouraged a decoupling from trade, the destruction of supply chains, the ruination of traditional trade partnerships, and the disintegration of decades of policies that promoted global integration. Now the US finds itself in a strange position of being nearly alone, while China and the entire region develops new trade strategies and policies. At this stage, default might be the wisest move. Sure, that would ruin the US as a credit risk for a generation. But that might happen in any case. The Denialists The first lecture I ever delivered on economics was about government spending and how it was going up dramatically in the mid 1980s. Yeah, we didn’t know what dramatic was! In any case, I recall explaining this to the kids there. They didn’t believe me. The entire media complex was complaining about spending cuts. How could they say this if spending was going up? I held up the chart. I passed around the chart. They questioned my source. I showed them the government document. They never did come around to believing me. People believe what they want to believe. So too, people imagine that life can be normal again very soon. But reality has a way of prevailing over what we imagine to be true. Regards, [Jeffrey Tucker] Jeffrey Tucker ***Urgent Reader Alert*** Buy B.E.S.S. Before It Explodes 12,100% According to Bloomberg, BESS will grow an exponential 12,100% over the coming years… Ultimately swelling into a $1.2 trillion market opportunity. That’s why the ultra-wealthy elite… (Like the founder of Microsoft…the founder of Amazon… and the founder of Virgin Galactic)… Have joined forces to invest at least $1 billion in disruptive technologies like this one. And now, you can position yourself right next to these powerful billionaires by [grabbing the #1 ticker for the 12,100% BESS Boom – for FREE. (Just click here – no opt-in required).]( ***Publisher’s Note*** I doubt you’ve seen this story before. BESS has nothing to do with the cryptos, electric vehicles, or space tech. 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