In this video, we are going to discuss the economic indicators that show the true extent of the collapse we are already experiencing, and the fragility of the system that is propping up any semblance of normalcy we have left. We will show you what the experts are saying about where to put your money, and why precious metals may be one of the only safe options remaining.
On the 20th of April of 2020, at around 2pm, something historic happened: WTI, short for West Texas Intermediate, crude oil futures traded at negative prices for the first time ever. From there, everything went downhill, and oil prices reached the impressive mark of negative $37.63 a barrel, which translates to a 300% crash. For perspective, this means that if you had bought the oil contract which traded at that price, you would have been paid $37,630, as the contract entailed the sale of a thousand barrels of crude. However, as expert Neil Irwin pointed out, “that is about five tanker trucks’ worth, so any joke about storing the oil in your basement will have to remain just that”.
The immediate reaction by many economics commentators to this bizarre event was to simply shrug it off as price adjustments to the collapsed demand for oil. Some also blamed it on lack of storage at the Cushing, Oklahoma delivery point. While this certainly isn’t false, it is a very simplistic way of looking at a complex market with many strong players. American and Saudi elites, in particular, have very significant stakes in oil production and market manipulation has become, over the years, a normal practice. In fact, meddling by powerful oil players is probably why most media outlets have not been very helpful in their reporting of the oil price crash. So, let’s take a serious look at what’s been happening in the oil market for the past few months, shall we?
It is official now, the United States national debt has hit the 23 trillion dollar milestone, that’s twenty-three with twelve zeros after.
That’s a pretty staggering figure — $23 trillion dollars in debt and climbing every second of every day. And in order to give you an idea, that is basically every taxpayer is in debt for $186.576 dollars. And if you were to break it down evenly across every citizen in the United States including those who don’t pay taxes, every United States citizen is $69.735 dollars in debt. And the debt to gross domestic product ratio is now a 106.6 percent. That is very significant; for that ratio to be over a hundred percent, it means that it’s above and beyond 100 percent would be an equal right to the gross domestic product, but it’s now above it by six-point six percent. Unfortunately, the economic collapse always arrives eventually, and our future is looking extremely bleak at the moment. And as the argument goes, the more the debt spirals out of control, the more you’re going to have inflation, the more you’re going to have undisciplined frivolous spending. So a lot of different people will have a lot of different opinions when it comes to this subject, the more and more this national debt figure climbs. And as you know, nobody’s really doing anything to curtail it, not the FED, not the president, nobody.
The subject of the economic collapse of late become synonymous with leading media outlets clearly indicating an impending financial disaster evidenced by the worst stock market performance since the Great Depression in 1930. The poor performance in the stock market has been marked with increased volatility in stock prices and termed as the most unfavorable Christmas Eve in Wall Street. To make the economic situation even worse, most economic analyst including Mark Jolley is pessimistic that the situation will still get worse in the coming year as the situation is only at the first half of the global equity bear market.
The ailing economic situation has occurred within a brief period as in 2017; the stock market was at its best only to get worse in 2018 after the global economy took a new turn putting investors with their investments at stake. The financial crisis linked to the bear market is not only being witnessed in the US alone but in many stock markets across the globe which even started declining way before the situation was felt in the US.
The Chinese economy has in recent years undergone a series of boom and recesses making it increasingly difficult for investors to realize substantial profits margins due to complexity in differentiating the boom and recesses. The past 30 years have seen China’s economy massively grow by triple figures to be among the world’s leading economies despite being merged with fraud, enormous wastage of resources in addition to theft of public resources by powerful individuals in the government.
The tremendous Chinese economic growth has come with numerous employment opportunities with hundreds of millions of the Chinese population being employed in manufacturing industries found across all major cities across the country. The overall effect of increased employment in China is that the poverty levels have increasingly dropped in addition to massive infrastructural developments were state-of-the-art transportation hubs, high-speed trains, sophisticated telecommunications systems have been launched. The rapid advancement of infrastructure has also significantly contributed to economic growth.
It is certain that all Americans are currently worried about an impending economic collapse. Do you have what it takes to survive an economic collapse? If no, perhaps you have to develop measures that will help you survive an economic recess without much struggle. According to economic experts, there is a high possibility of an economic collapse in America than ever before thus calling for preparations to handle the situation effectively. But what exactly are you preparing for? In essence, you are bracing for an economic crash, and you would be among the 3 million preppers across the US.
The U.S economy is currently experiencing a debt bubble which can pop up anytime bringing the economy to its knees. Several sectors of the economy seem to be going wrong, a clear indication of an impending economic collapse. The banking sector, for instance, has since become risky attributed to snowballing debts which could lead to a sudden closure. The economic meltdown may be fatal in the US since the country has been living way above its limits for decades.