ECONOMY - JP Morgan Warns of Stagflation Throughout West Countries
Jamie Dimon of JP Morgan has issued a warning that the US is heading toward Stagflation – an economic downturn reminiscent of the 1970’s under Carter. Stagflation means high inflation, high unemployment while the stock market tanks. The fake numbers pushed by the Federal Reserve and the Biden/Harris White House may fool the fools, but BRICS countries are well-aware and Treasuries could become the biggest HIT.
Intel is in a bailout. So far the Biden regime has funneled over $12 billion into Intel’s coffers as the great selloff has spiked their share price. June 2024 Financials reveal a net loss to date of $1.61 billion, representing a profit margin loss of 12.55%. The darling of tech, Intel, was supposed to bail out the chip dilemma as China is now considered persona non grati.
All those chips are a necessary component of the US military, ie weapons. Peaking at a share price of just over $50 December 2023, Intel stock is down to $19.66 – a loss of 61%. Sellers include Warren Buffett. In August, Intel announced that it would layoff 15% of their workforce.
But it is a broader picture than just Intel, the tech industry has laid off more than 550,000 employees since 2022. What caused this tech transformation? The WH policies fomenting inflation, high interest rates, wars, and the looming stagflation. Biden’s response? Give Intel a bailout of more money that the Treasury has to print causing even greater inflation.
Should Trump win the election, this is the burnt economy he will inherit. Biden’s legacy of America’s internal economic destruction. A destruction not facing BRICS countries. A destruction that will ensnare every ally of America. The ‘pretend’ environment created by Biden’s Bloomberg handlers is spiraling uncontrollably. No amount of fake numbers will cause it to survive.
What did the 1970’s look like? Gas lines. Interest rates into 20%+. Housing collapse. Construction collapse. Unemployment. Shortages of everything. Collapsed currency values. It was – NOT FUN! The largest difference between now and then is our 20 million illegal immigrants who will not find jobs – and simply became gangland criminals.
As every media outlet poured onto the Springfield Ohio Haitian dilemma, the blame for the ‘bomb threats’ has been levied against Trump. Oddly, these bomb threats are being sent via email according to the Mayor. EMAIL. Ordinary citizens don't have protected 'EMAIL'. And not one FBI agent can track an email… meaning the threats are from within. Secondly, it is noteworthy that the crime rate in Springfield is 12.7 per 1000 vs Ohio’s rate of 2.98 per 1000.
From 1969 thru the 1970’s crime in the US increased dramatically. The causes include drug trade and unemployment due to stagflation economics. The government took no responsibility for the surge and instead decided to blame ‘inequality’. The fact is, government economic policies were the direct cause of crime then and will be again as we approach a similar repeat.
What changed in the 1990’s that precipitated a 43% decline in violent crime? The economy. As initiated by the Tech industry. A direct correlation. It also coincided with an increase in the police force across the US. Between 1987 and 2016, the police force increased by 38%.
Economists are apparently quick to call stagflation but assert they don’t really know how to manage this sort of economy. Thus, joining the ranks of incompetence. What it is is a death sentence to the West and another huge benefit to the BRICS whose latest summit realized an alliance of trade and sovereignty giving many countries a sigh of relief! War destroys economies.
What other country makes ponzi ice cream with its numbers? Israel. Israel’s GDP is estimated to be between $473 billion to $573 billion – a differential of 21%... Israel’s war budget is now an annual of $150 billion representing 32% of its GDP. Ukraine has no GDP – except for its continued trafficking industry. It has no war budget because the US and UK pay for it. By comparison – the US military budget as a percent of GDP is 3.45%. Of course that doesn’t include the ‘funny numbers’ the ‘black book’ or the Pentagon’s ‘oops numbers’. Still it is a far cry from 32%.
The Times of Israel estimates that 60,000 businesses will shut down in 2024, nearly breaching the number set by the Pandemic. Their economy is quaking! Mass exodus of Israelis coupled with no Palestinian purchases, agriculture abolished, the call of over 250,000 reservists no longer contributing to the economy, and technology fading are all simultaneously breaking the back of - Israel.
And Netanyahu doesn’t care, because all he sees is mass destruction which could cause Israel to no longer exist at its own making…
It took 20 years for the US economy to recover from its 1970’s government policies. And economists apparently have no idea how to make a recovery happen… The WEST is losing. And the only solution they believe will make their failures disappear is a nuclear war with Russia and China.