👉The Fed Trapped between Negative Interest Rates and Economic Collapse On The way to Japanification

👉The Fed Trapped between Negative Interest Rates and Economic Collapse On The way to Japanification This is a crisis like no other, and there is substantial uncertainty about its impact on people’s lives and livelihoods. The Worst Economic Collapse in history has started. When the financial media speaks of a V-shaped recovery, they are referring to Wall Street, not Main Street. Not just the US, but many countries now face multiple crises—a health crisis, a financial crisis, and a collapse in commodity prices, which interact in complex ways. There is considerable uncertainty about what the economic landscape will look like when we emerge from this lockdown. The rising wealth concentrations will increase social tensions, and this social instability can cause further hardships for the populace. It's vital for a society to do what is right and not do things like make the stock markets go up. A recipe for disaster: Fleeing tax base from income and property taxes. Public pensions, with impossible promises and expectations. Many double pensions being collected from former government employees who milk the system. Political gridlock that blocks any real resolution. Massive unemployment due to forced lockdowns or ridiculous restrictions by unlawful executive edict. A tidal wave of bankruptcies looming in both personal and businesses. Hesitation to establish and grow the new business due to high crime and all of the above. This is socialism for the rich. All the money is going to the top 5%. They have gotten obscenely richer while the masses have struggled and gotten poor. By buying companies bonds, the Fed is in effect bailing out failing zombie businesses instead of forcing restructuring in bankruptcy court, thus rewarding them and their rich CEOs who are failures and should be fired but instead are incredibly, getting raises! By the way, this is not what the Fed was intended to do when they were enacted! The Fed is Trapped between Negative Interest Rates and Economic Collapse. The Fed should have raised rates back when the economy was still humming, but Trump didn't want the markets to drop, so he bullied Powell on Twitter, and the Fed folded. So much for their famous political independence! Now the Fed is out of ammo, and we're all going to pay the price for that. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. And don't forget to subscribe, And please don't forget to hit the little BELL button to get notifications. The Markets are run by sociopathic gambling addicts who have no worries about losing a bet (or causing total havoc on the rest of the world) cuz the Fed has their backs. President Donald Trump on Tuesday tweeted that the US should accept the gift of negative interest rates, joining other countries that already have them. "As long as other countries are receiving the benefits of Negative Rates, the USA should also accept the GIFT" Trump tweeted last tuesday . Setting interest rates below zero would, in theory, boost consumer spending and business investment by making it easy to get a loan. Still, places with negative rates such as Japan and Europe have had mixed results. Consumers don't always spend more, central banks have had a hard time raising rates again, and it leaves little room for action if there's another economic downturn. Negative interest rates will be fatal. They have created an economic Frankenstein. The FED is shooting arrows in the dark, trying something that hasn't been tried before. They painted themselves into a corner long ago so that there are precious few options. Careening down an impossible slope and trying to dodge boulders along the way. Not only that, but they’re doing it bouncing on one foot with one of their arms tied behind their back. They just don’t have the tools necessary to clean this up. This hole just keeps getting deeper. Madness. The real tell here is that the Fed is very worried about massive deflation, and for a good reason. For eleven years, the Fed flooded the system with artificially cheap money in the hope of sparking inflation. It failed. Now the storm has hit in the form of the pandemic, and the Fed is trapped. The result is already massive public and private debt skyrocketing, as the Fed props up the biggest everything bubble in history with ever more artificially cheap money. Billionaire investor Jim Rogers is right: "The Fed only cares about getting people reelected." The Fed has destroyed price discovery, creative destruction, and free markets generally. Meanwhile Mom and Pop retiree eat their seed corn because they cannot make interest on their life savings, or they enter the Wall Street Casino at the worst possible time. There is a reason Warren Buffett has $146 Billion setting in cash. This will end in disaster. M2 Money Velocity is still falling as we are in a depression. Japanification has arrived. Japan is the model if it was accidental or on purpose, who knows, but Japan has been the beta test for the world rollout of this monetary repression scheme. The Fed is trapped; it is holding back a huge dam that will burst at anytime soon, so get to higher ground investments, which are precious metals in your hand. Printing dollars and handing them out to the rich will cause asset inflation. This is happening, but the Fed ignores asset inflation. If they really wanted to increase consumer inflation (this is what the Fed looks at), they'd just have to hand out the printed dollars to everybody. It's the legal murder of the middle class, the greatest wealth transfer in history a reverse Robinhood effect, stealing from the masses, and giving to the rich! The next big crisis is hyperinflation is about to hit. Your money will be worthless overnight. Forget about buying toilet paper at Walmart. Just make a bank withdrawal of all of your money to use instead. Because everything is not going to get better...This is the direct result of miserably abysmal failed policies that have not only lead to failed states, but to the failure of all of humanity. The most important job of a central bank is to maintain the value of the currency. No inflation at all should be tolerated if it happens based on the money supply. Inflation should be 0. The average person should be able to get interest on their money that exceeds the inflation rate. In the past, banks lent out money based on deposits. Economies grew faster when people saved more. Saving is a good thing. Increased consumption led to slower economic growth. Only the absolute richest people and corporations are being exposed to all of the money printing. The inflation would show first in the assets that the rich put their money into gold, stocks, etc. That’s what has already happened. We’re are seeing roughly 8% inflation right now according to shadow stats in consumer goods, and that’s not including the borderline hyperinflation in the bond market and the very high inflation in the stock market. We’ll see if the true CPI starts to really pick up steam. It's food inflation that hurts the most. Everybody has to eat. The rich know what's coming , they are stockpiling food . And we are seeing inflation at the grocery stores, and sold out shelves and online of goods, backorders for weeks and growing. More dollars chasing less goods and less goods because less people are working, a triple whammy. Look at housing insurance, cars, etc. Everything has doubled in the past 10 or 20 years, while people’s salaries have barely increased. All currencies will hyperinflate eventually. All fiat paper and digital currencies will eventually meet their demise! The dollar being the world's reserve currency,inflation is our biggest export to the entire world. Other currencies take much less time. Funding government spending by printing money is as insane as it is evil. During the Carter administration, the Fed engaged in money printing. Prices doubled between 1977 and 1981. For most people, wages didn't keep up with prices. What was the economics that brought capitalism to its knees in the 1930s? Neoclassical economics. Let’s use it for globalization. It’s a global suicide mission. The trouble with neoclassical economics is that you get these Ponzi schemes of inflated prices. When they collapse, it feeds back into the financial system. Neoclassical economics still has its 1920’s problems. What is the fundamental flaw in the free market theory of neoclassical economics? The University of Chicago worked that out in the 1930s after last time. Banks can inflate asset prices with the money they create from bank loans. Economists Henry Simons and Irving Fisher supported the Chicago Plan to take away the banker's ability to create money. “Simons envisioned banks that would have a choice of two types of holdings: long-term bonds and cash. Simultaneously, they would hold increased reserves, up to 100%. Simons saw this as beneficial in that its ultimate consequences would be the prevention of "bank-financed inflation of securities and real estate" through the leveraged creation of secondary forms of money.” The IMF re-visited the Chicago plan after 2008. It looks like they did have some idea what the problem was. At the end of the 1920s, the US was a Ponzi scheme of inflated asset prices. The use of neoclassical economics and the belief in free markets made them think that inflated asset prices represented real wealth accumulation. 1929 – Wakey, wakey time Why did it cause the US financial system to collapse in 1929? Bankers get to create money out of nothing, through bank loans and get to charge interest on it. What could possibly go wrong? Bankers do need to ensure the vast majority of that money gets paid back, and this is where they get into serious trouble. Banking requires prudent lending. If someone can’t repay a loan, they need to repossess that asset and sell it to recoup that money. If they use bank loans to inflate asset prices, they get into a world of trouble when those asset prices collapse. As the real estate and stock market collapsed, the banks became insolvent as their assets didn’t cover their liabilities. They could no longer repossess and sell those assets to cover the outstanding loans, and they do need to get most of the money they lend out back again to balance their books. The banks become insolvent and collapsed, along with the US economy. When banks have been lending to inflate asset prices, the financial system is in a precarious state and can easily collapse. What was the Ponzi scheme of inflated asset prices that collapsed in Japan in 1991? Japanese real estate. They avoided the Great Depression by saving the banks. They killed growth for the next 30 years by leaving the debt in place. Debt repayments to banks destroy money; this is the problem. What was the Ponzi scheme of inflated asset prices that collapsed in 2008? It’s nearly $14 trillion pyramids of super leveraged toxic assets that were built on the back of $1.4 trillion of US sub-prime loans and dispersed throughout the world. They avoided a Great Depression by saving the banks. They left Western economies struggling by leaving the debt in place, just like Japan. It’s not as bad as Japan as we didn’t let asset prices crash in the West, but it is this problem that has made our economies so sluggish since 2008. If we had any sense as a country, we wouldn't be having deficits in the trillions year after year. This is the only reason why an inflation target above zero is desirable...because the US government is bankrupt and would have trouble servicing its debt at normal interest rates. All we would need to do is cut spending to match revenue, like any other responsible household or business. If interest rates were 5% and inflation was 0%, you'd actually have the incentive to save, and people would have a sense of security and well being for their future. What we have now is a few percent of people controlling all of the wealth, and everyone else is in debt up to their eyeballs. With higher inflation and low-interest rates, people are forced into the Wall St casino, and we know the house will win most of the time, skimming from the populace one bet at a time. This creates asset bubbles. In effect, we're rewarding and enabling an out of control government for perpetual and reckless overspending, we're rewarding over-leverage and speculation by greedy banks, businesses, and hedge funds. Socializing the losses every time there is a crash, and we are absolutely killing retirees and savers by devaluing their lifetime savings through artificially low-interest rates, intentional inflation, and currency debasement. In summary, we are doing everything wrong. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

👉60% of Small Businesses are Now Permanently Closed & Unemployment Higher than in All Recessions

👉60% of Small Businesses are Now Permanently Closed & Unemployment Higher than in All Recessions 60% of business closures due to the pandemic are now permanent, according to Yelp. Factories across America are still bleeding jobs. The American Carnage is continuing. “Manufacturing across the U.S. is still down 720,000 workers from February despite gaining 29,000 jobs in August, with the pandemic more than wiping out the overall modest gains of 500,000 from Trump’s first three years in office,” Politico reports. 884,000 Americans filed for first-time unemployment last week, which is higher than expected. And still higher than the highest peak in all recessions since initial claims data was recorded. They do not show the total number of people getting unemployment checks right now. The New York Post says something about 61 million ,but doesn't explain if that includes people who went back to work already. The good news is: we will soon run out of people to go on unemployment. As of last week, there were 29.6 million on unemployment - making real unemployment around 18%. And that doesn't count able-bodied people who have dropped out of the workforce due to extended unemployment and are no longer counted in the official calculations. The economy is still in shock from the hit; the real death of this country is only beginning. And we haven't even begun to feel the economic fallout. Wait for the Moratorium on rent to end. And the Moratorium on evictions to end. The full effects of the financial problems caused by the mishandling of the pandemic won't hit until the bailouts end. New layoffs every day in almost every sector. There will be Joblessness through the roof with no end in sight for many Americans. Riots and looting out of control in 48 major cities.Massive unemployment, cities on fire, virus raging, the economy in the crapper. And this is just a sample of the melee awaiting America. No jobs, businesses closing, and people losing their homes because that eviction moratorium is ending. The disconnect between Wall Street and Main Street is getting much wider.And it gets worse when all the debt deferrals finally end. We are just in between the free fall from the edge and the inevitable splat on the sidewalk. The Chickens are coming home to roost, and the eggs are going splat. It's not going to be pretty for the majority. Of course, the wealthy won't be affected. The lockdown only affects the common people, not the very important banksters. Not only that but with social distancing still a thing, many surviving businesses are operating at reduced capacity, meaning millions of jobs will never return. Don't need as many servers anymore since restaurants still offer only drive-thru and pick up, or half the seating is closed. This will be the greatest wealth transfer to the top since the Great Depression. Far worse, when the dust has cleared, the fraud on America tax reform will be a drop in the bucket. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. And don't forget to subscribe, And please don't forget to hit the little BELL button to get notifications. 60% of US small businesses are now permanently closed. Meanwhile, corporations are stronger than they have ever been. The corporations are getting industry-wide bailouts, and the Fed is buying their debt. Yelp, on Wednesday, released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the pandemic’s economic toll. Yelp data shows 60% of business closures due to the pandemic are now permanent. Permanent closures have reached 97,966, representing 60% of closed businesses that won’t be reopening. Mission accomplished, or are they shooting for 100% closure. Many small companies are still getting by through PPP loans. But in a year, I doubt many companies lingering today will be around. Markets disappearing, the commercial real estate market evaporating, the service industry gone, entertainment industry gone. Many businesses are still being artificially propped up by PPP grants and economic disaster loans, and many of their customers are still there because of their stimulus checks and unemployment benefits. Once this money runs out (if it ever does), many many more will close. Happens when you've got a house of cards built on monetized debt. Cut spending and let the free market do what it was born to do. Financial disaster is coming, and the sheep will get fleeced. Now the bigger businesses will have all of the business. More Good News for Amazon. It's classic crony-capitalism. Amazon announced they're hiring another 100k worker after big government forcibly closed their small business competitors. As Wallstreet and the boys bail themselves out and pump & dump and loot trillions. Same as the 2008 pump and dump looting scheme except for bigger agendas with this purposeful overreaction. My heart goes out to all the business owners. The average person doesn't know how hard it is to operate a business and will most likely not sympathize with them. All small businesses are bankrupted while we are locked down. And that is only a part of the bad news for our economy. This morning the Houston Chronicle reports that oil bankruptcies are expected to rise. Also British Petroleum, Royal Dutch Shell, and some smaller companies predict that oil and gas use will peak during the 2020s. Our next president and his economic team must therefore take action to prevent unemployment to rise because small companies, especially in the fracking business, will go bankrupt. Not only here, but worldwide. Wait till the people get off the vents they will be so broke The bailout stimulus ran out after two days, and almost all went to the biggest corporations, oil corporations, and such. Welcome to Depression 2.0, 2020. 26 trillion in National debt at 3 trillion dollars in annual deficits forecasted 45 trillion in debt by 2024 and 78 trillion in debt by 2028. Technically, its neo serfdom. The new economy will be called Happytalism. The Fed (i.e.,The US treasury) has been buying EVERYTHING since about Sept 2019. If not for the Fed and Congress providing more than 7 trillion dollars to big corporations, there would be more corporate bankruptcies than ever before. The Fed has now has the power to make this Depression amplified by the pandemic, far, far worse than the Great Depression of 1930, It’s almost like it was set up in advance. Jerome Powell is the first Fed chief in two generations who’s not an economist; instead, he’s a lawyer, a multimillionaire private equity banker, and former partner with The Carlyle Group, whose BA was in politics. And politics is where Powell shines. In a complete abrogation of the rules governing the Fed, he’s created roughly $7 trillion (one-third of the entire nation’s normal annual GDP) out of thin air and used much of that money to buy corporate stock and bonds to keep the stock market afloat. In its 107-year history, the Fed has never, ever done this. Some observers consider it illegal. And the rest of the world is watching, as the dollar drops in value (and gold skyrockets) relative to other currencies, another sign that both inflation and economic disaster are on the horizon. If the Fed stops supporting the stock and corporate bond markets; the Dow will drop over the following few months to 7,800, roughly where it was in October 2008, the last time they goosed the economy to keep things looking good until an election. Making things even worse, Powell could announce that he’s actively working to drive up interest rates (a function related to inflation). That would cause a tsunami of corporate bankruptcies (corporate debt is currently higher than any other time in American history), and a collapse of the housing market happens. Powell recently suggested he’s considering just such a move, as CNBC reported on August 4 with the headline: “The Fed is expected to make a major commitment to ramping up inflation soon.” That will be the greatest transfer of wealth out of this country with the push of a button; then, they will have to go after what's left of the middle class to finish it off. This is a planned takeover of small businesses. After this is over, the US economy will resemble Russia, where different oligarchs control different segments of business, and there is a barrier to entry any business controlled by them. No way back, none. Modern Monetary Theory by any other name still means permanent zero rates, Fed buying bonds and then equities, and lots of pain ahead. In the end, they are just rearranging deck chairs on the Titanic. Once we locked it all down in an already debt-ridden economy, we were toast. Millions living beyond their means, buying crap from China they could not afford. The congress recklessly spending for decades on 24/7 wars and entitlements. And then a failed to drain the swamp President have run up off-the-charts debts. Twenty-seven trillion in debt and counting. NEVER will be paid back. China buys our debt so the U.S. consumers can keep on spending and feeding the CCP for their military expansion. This will cause even more pain going forward. And if the markets tank, then more unemployed and more hopelessness and anger. Today 25% of the economy is bankers and financial people getting rich off pushing printed money around without any ACTUAL BUSINESS. It is a DEATH SPIRAL! The USA is declining and will not recover. CV-19 deaths will decimate the population while the economy declines, our world leadership role is gone, the internal strife being fed by the politicians and their trolls are fatal. Capitalism is failing; democracy is failing. The Empire is over. The USA peaked and started downhill. Nothing in the USA is moving in the right direction. Nothing. And it will continue until the collapse. Of course, the only thing that made the great recession look as bad as it was is because the stock market crashed. And that created the panic. Right now, the federal reserve is preventing or postponing the panic for a later date. Perhaps later in 2021, or 2022 at the very latest. The deeper in debt we are, the better it will be for their financial takeover. And the final icing on the cake will be the wealth effect turning into the poverty effect after they collapse the world markets. And spending will come to a screeching halt. Once all stimulus ends, moratoriums on evictions lifted, and 401K early withdrawal penalties are lifted, on top of the increase in permanent layoffs, it will be over. The solution is economic growth most often seen in a free market environment, rarely in a highly regulated, overtaxed socialist one. And almost never in a bloated, nanny state. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

👉We are Broke -- The Great American Debt Reckoning is Here

👉We are Broke -- The Great American Debt Reckoning is Here We Are Broke -- The Great American Debt Reckoning is Here A fiscal cliff has been underway. Millions of people are still out of work, their emergency savings wiped out, and insurmountable debts are increasing. Forty-three million on food stamps. 30 million unemployed. Debt is the biggest problem for the US. There is a wave of residential and commercial mortgage defaults coming that will make 2008 look mild. The great American debt reckoning is here. You can't print trillions and only create minimum wage jobs in an economy without becoming a third world country. The Fed can't hike rates without crashing everything. Stocks are sharply higher, record wall street bonuses are in the works, and Amazon stake price will double by the end of the year! The market caught a boost on the bipartisan handout proposal yesterday. More morphine hitting the system and keeping people glued to their computer buying crap had everyone giddy. If $1200.00 stimulator checks are sent out again, the impact will not be as great as the first go-round. It will take more and more to feed the beast. Greatest recovery ever! Say bankers and CEOs. For the other 340 million of us, not so much Kick the can until you reach the fiscal cliff. The bill will come due one day. The end of the road grows closer. We got bamboozled, and the swamp got filled with taxpayer money. Preparing for a mass financial event. The structural flaws in our economy have become metastasized. Corporations and hedge funds are in panic hoarding. Techno-stagnation and non-investment. The US is broke.The US economy is toast. But so is the country generally speaking. I figure we have until November to prepare for some serious misery coming. We all know August's job numbers were a total fraud. First, they included the quarter-million hired temporary census workers . Second, they included a massive revision in how the Bureau of Lying Statistics adjusts numbers on the basis that their standard algorithms for such adjustments were supposedly skewing the numbers to appear worse than the BLS believed were true. That too, changed the numbers by another quarter-million. Hardly the basis for your sugar-coated claim of "impressive hiring gains." What everyone should realize at this point is that we are over the edge no matter what is done. There is a point where there is no going back, and we passed that months ago. Just more and more being exposed now. The US has passed beyond the event horizon of salvageability in its current form. The vast majority of its population has lost the last shreds of connection to value production. Worse than that is the delusional belief that the government possesses infinite resources to meed their every demand or wish. The funny thing about that delusional belief however, is that government does NOT possess anything that generates income, the people do, however, and it's always them who shoulder government liabilities. But seeing as indoctrination has replaced education in the Western societies, especially the US, that knowledge has been unavailable to them for quite some time, especially since some folks delusionally asserted that "deficits don't matter.", a delusional claim similar to believing that for a vehicle, gasoline or energy in whatever form, doesn't matter. One may claim so, as is their sovereign rights, but REALITY also has rights which it too, can exercise. And in the conflict between reality and delusions, reality wins every time! Debt, prudently utilized, has never been a problem, but the question we asked a while back, is still unanswered and the question? When does stimulation end, in favor of production? Or put differently, what are the plans to stimulate value production instead of non-productive consumptions? The answer we received so far is that there are no plans for value production, or the resurrection of honest labor, or organic markets, or honest finance, or reliable money, or the vigorous vitality of future producers. But there are plans for infinite stimulus based on nothing more than the abuse of a privilege, which is now not only exorbitant but weaponized exorbitance too. We ought to be cognizant that the patient we are trying to save is neither interested in knowing the dire situation nor cooperation to recover. In that case, as a doctor with integrity and reputation to safeguard, what'd be your decision, considering the prohibition against trespass against the legitimate rights of others, the patient included? We could tell you what we'd do, but the question is not for us, but yourself and why? There comes the point when reality acknowledgment is the only sane and safe action, meaning what? That you can't help or salvage those unable to acknowledge reality or unwilling to do the needful to recover. And that is what prudence is all about, the courage to admit you can't save the damned, that is. And with that, here's Orlando the Canary Crooner. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. And don't forget to subscribe, And please don't forget to hit the little BELL button to get notifications. The Government is at about 32 Trillion in debt to the Central Banks. The interest alone, paid by the taxpayer on the debt per year, amounts to 1.3 BILLION, Not Million, for each man, woman, child, and illegal alien in the United States. Reduce spending? We are into the abyss, and there is no lifeline. The only solution is to dissolve the Central Bank, The Fed, and cancel the debt on what amounts as Fiat money. Amounts are shown on the books that have no reality to the lender or borrower. The money loaned did not and will not ever exist. That is the scam that central banks have used for two hundred years worldwide and over one hundred years in the United States. Eternal enslavement for every human on earth has been the result of this fraud. There is one hope. The Fed is willing to loan fake money, but not at zero interest! Without the Debt, there is no need for income tax, and there is no need for the IRS if every person keeps what they earn in total, which gives them 20-30% more spending power, the economy booms along with a currency backed by sound money, gold, and silver. Taking the market a step further, If you own an asset and you trade it to buy another asset, you had ownership of what you paid and have new ownership of what you bought. You still may have to pay tax on the transaction if it is an object that requires registration, such as an auto or property, as the system is designed for complete indebtedness. If you are using debt instruments to make your purchase , even though you hold a $50, $1000, or $5000 bill in your hand, you are not using your money. It is fake money to begin with, and represents a debt to the system that created it. When you make the purchase using fake money, you pay a tax on the item, a sales tax usually. That is the interest you owe on the fake debt you used for the transaction. In a fractional reserve banking system, debt can NEVER be reduced. You can't fight math .The dept is far too large to ever be repaid (even if they wanted to). So The Big One will happen, sooner or later. The state can steal everything from everyone currently living in America, and it won't fund the criminal enterprise for a year. The Nixon shock in August of 71 severed the tie between gold and the dollar and ensured the death of the dollar, which is what we're witnessing right now. When Nixon closed the gold window, it allowed politicians to spend trillions we didn't have, and today that $200T in debt will never be repaid, it's impossible. The gold standard will be reinstated. It's inevitable, but we're going to have to go through years of hyperinflation and the worst depression in history before we get to the other side of this man-made disaster. What's going on behind the curtain is panic to keep the consumer-banking wealth model alive now that cheap oil production is falling. The US Dollar Currency collapse has become too large to be hidden. (Masterfully papered over after 2008 for more than a decade, until one year ago. Repo rate explosion revealed the Big Lie last September. King dollar may not survive the winter. It is taken this massive CV-19 lockdown Effort to provide the cover for a 100%+ increase in M1. A veritable firehose of dollars designed to Hide the true problem. We are broke as broke can be. Currency collapse. Are you ready? In Bizarro World, the corrupt politicians who brought and supported the problem, and the rich businesses that drained away all the fed money, are the Heroes who want more and more money while the middle classes are driven into poverty and homelessness. The Government killed the Golden Goose (Middle class), and now they demand money to feed the Authoritarian State that's being set up to control the newly poor over a Decade of DEPRESSION. Let the government suffer like everybody else, and for sure, it'll be a cold day in Hell before folks file tax returns again or pay taxes. There was a reason taxation was illegal: a form of government tyranny. Then the war happened, and it fucked literally everything up. Post-war inventions/policies: Taxation for everyone, regardless of income. The invention of mortgage and credit. Dissolution of anti-banking laws & anti-monopoly laws. Start of the Military Industrial Complex. The invention of the Federal Reserve.Etc. Half of these were supposed to be temporary only for the war. Then the government ballooned and got addicted to the money. The CENTRAL BANKSTERS have 100% control over the system THEY created. If we had no debt, there would be no cash in the system. Too much debt is exactly what is desired. Endless interest payments made by taxpayers to Central Banksters in exchange for nothing. This system is designed by Central Banksters to pay off the heads of state in order that they control the masses and enslave these masses to shoulder this endless debt .And the collateral for all this cash? The masses/taxpayers are the collateral. I can't wait until people just stop paying taxes or using fiat currency en-mass. Until then, another day at the circus. Nothing will change. We will continue on this same course until we sail right over the edge. Until a majority of the people feel the real consequences and pain of "printing money," nothing will change. It literally will take the absolute crash of every currency for this to happen. At which point, it will be too late. At that point, not even gold or bitcoin will save you. If you have food and shelter, that is all that will be desired. You will also need guns and ammo to protect it and to hunt. We will revert back to a barter economy because nobody will trust nor need that scarce paper/rock. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

👉Housing Bust 2.0 -- Subprime Crisis, Millions of Homeowners with Delinquent Mortgages

👉Housing Bust 2.0 -- Subprime Crisis, Millions of Homeowners with Delinquent Mortgages 50 Million out of work, double-digit unemployment, everything is shut down, cities burning, everybody is angry at everybody, Mortgage delinquencies of at least 90 days rise to the highest level in 10 years, millions of homeowners cannot make the mortgage payments, 30% of homeowners said they had less than $1,000 in savings, and 40% said they would run out of savings in less than a month. Furloughs, layoffs, and decreases in hours are projected to continue for several months as businesses are forced to stay closed. Eventually, borrowers will burn through their savings and default of their mortgages resulting in an increase of foreclosures. Twenty million renters at risk of eviction. More than 20 million people, or one in five of the 110 million Americans who live in households that rent, are at risk of eviction by the end of September, according to the COVID-19 Eviction Defense Project (CEDP). While economic stimulus payments and unemployment insurance have allowed tenants to remain in their homes throughout the pandemic, CEDP Co-Founder Zach Neumann says that it is likely to change dramatically, with enhanced unemployment insurance set to expire at the end of the month. The number of serious mortgage delinquencies rose to a 10-year high in July, according to a report released by financial data firm Black Knight. 32% of households have not yet made their full housing payments for July. The number of homes with mortgage payments more than 90 days past due but not in foreclosure rose by 376,000 in July to a total of 2.25 million, according to Black Knight. Serious mortgage delinquencies are now at the highest level 10 years and have increased by 1.8 million since July 2019. The overall delinquency rate for mortgages on one-to-four-unit residential properties spiked by nearly 4% in Q2, reaching 8.22% as of June 30, according to the Mortgage Bankers Association’s National Delinquency Survey. The jump in the delinquency rate was the biggest quarterly rise in the history of the survey. Millions of Americans do not know how they can pay their mortgage. Tenants cannot pay their rent; landlords cannot pay off their debts. Everybody is gearing up to go into court, organizing their lawyers to file thousands of lawsuits. We are looking at months, if not years of crushing litigation, which is also an expense which people will not be able to carry.It is a tsunami in economic terms. A housing crisis is imminent and will likely show up next year. Mom and Pop homeowners make up the bulk of homeownership, and many of them are in deep trouble due to rent moratoriums pushing them toward bankruptcy and foreclosure while the renter population will see 40 million in the streets by next year; if not before as those moratoriums expire. The default rate is over 8% right now. The only thing saving most borrowers is forbearance plans. What happens when the clock runs out on these borrowers? They are all going to get wiped out, and the central banks will end owning everything. All mortgages will be wiped out. So that makes sense that the Fed is taking them over. When there is a foreclosure crisis because the politicians once again refuse to help individuals in favor of crony capitalism of the Too Big To Fails, the Too Big To Fails will once again be bailed out, and the homes will be sold for pennies on the dollar to the politician's Wall Street buddies. The banks get to keep the house and all of the money that has been paid for it over the years. The tens of millions that got their livelihoods destroyed by the pandemic get nothing. And the banks are the ones who are getting all the free uncle sam digital funny money. Same time again in 8-10 years. Damn, it feels good to be a bankster. The Fed owns 1/3 of all mortgages now. SOON TO BE 100%. The Fed owning a third of mortgage bonds is just the beginning. I think eventually they will own almost all of the residential market. Why? Because then they can control foreclosures. When the forbearance periods expire, someone (the Fed?) will try to stop the tsunami of defaults that are coming. If they own the paper, they can make decisions on how to handle defaults. We taxpayers will be on the hook again because the Federal bankster Reserve cartel will buy the banksters’ bad real estate debts (whether the banksters are foreigners or US citizens). So the taxpayers will have to suffer the losses since they will have to bail out the Federal Reserve, whose financiers control the US government. This pandemic is not going anywhere, so progressively, many more persons will default as time passes, and more businesses fail. We have only seen the tip of a huge iceberg thus far. I pray that I am wrong, but I doubt it. I just wonder if the total bailout cost to the US taxpayers will be over the $29 TRILLION that the 2008-2011 bailouts to the banksters cost. Slavery began with property taxes. With property taxes on purely residential properties. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. Don't forget to subscribe, And please don't forget to hit the little BELL button to get notifications. In America, the government, coupled with a slew of builder and Realtor associations, control the housing narrative. Huge discrepancies exist in the cost of housing in the various markets across America, and while price variations are not uncommon, they should be seen as a reason for caution. When millions of homeowners cannot make the mortgage payments and have to put these millions of homes on the market – forced sellers – they trigger a sudden surge of supply of homes for sale, and the entire supply-and-demand equation, and thereby the pricing environment, are going to change. Commercial real estate ruined by Amazon. Malls are going down all over the country. Why go there hoping that they have your size when you can click it now and get it tomorrow at your front door? The commercial real estate market is going to crater. So many companies have suddenly learned they don't need thousands of square feet of office space. And heck, they get to dump utility costs onto the employees. In a contracting economy, do you think that the ruling elite will take a cut in their living standard like the average person, or do you think they will take a greater share of the contracting economic pie in order to maintain their standard of living and net worth? Of course, they will take a greater share because they are in charge and can control to some extent the outcome of wealth distribution through the management of the economy by the government they control. That is the first issue. Study 17th century farming techniques because that is what is coming. We're going to see a surge in homelessness. People who cannot in any way, shape, or form manage this situation. If you are evicted, you can't cover the cost of a lawyer to protect you against this eviction, especially because the lawyer may not be able to prevail against the kind of legal heavy hitting that banks can afford that large landlords can afford. We are going to have this spectacle on top of all of the everything else happening to us of that American situation in which we have homeless people sitting on the curb across the street from unoccupied apartments and homes, and that does not become a sustainable situation like so many other things are becoming unsustainable. The wealth gap keeps increasing with no end in sight, millionaires becoming billionaires, and the middle class becoming poverty level. Of course, there are delinquencies. When the government tells you you don't have to pay, lots of people don't pay. Duh! All this stimulus money and forbearance plans only make the situation worse. There are way too many people that will jump on board the gravy train because they can, and most don't need it. Kind of like food banks, if it is free, go grab some. We're watching the chasm between the haves and the have nots widening. Folks with manageable debt and secure income are taking advantage of low mortgage rates while the folks indebted to the hilt with maxed out credit cards,and installment loans that financed their way of life.Sudden unemployment, and it's instant poverty. These are the folks driving late-model SUVs seen in pics of lines of people waiting at the food pantries. The growing group of have nots will increase in numbers exponentially as the economy worsens even passed the election, which is even more of a reason to get out of the cities. Get yourself prepared. In the last decade, debt has soared across the globe. With this in mind, you never want to be caught on the wrong side of a debt default. Lenders will find little help in recovering their money from an expensive legal system that has become overwhelmed by the complexity of modern life. Legislation that allows easy bankruptcy protection is a gift for anyone wanting to plot a course forward by exploiting those stupid enough to loan them money. This includes landlords and suppliers willing to extend them credit during hard times. To be clear, a default results in a transfer of wealth. The Fed has snapped up $1 trillion of mortgage bonds, with their magic money. Now they can forgive the debt for the homeowners. Next,the Fed can forgive the student loan debt by printing more magic money. Mo Magic Money. We are NEVER going back to the pre-COVID days. This is The End of Civilization we are looking at. Enjoy this phase of the End of Days while it lasts. What you are witnessing is the Fed takeover of America. The bankers have waged war on the middle-class entrepreneur who either has a small business or is a small landlord. They are doing everything possible to drive these people out of business while supporting the financing for corporations to step in and take their place. This is what they have had on their agenda for decades, and now it is coming to be. Once the middle-class business people are wiped out, they will officially declare that the American Dream no longer exists.And capitalism must be replaced by communism and that the only way for people to survive is with government handouts. The country, once a symbol of modern capitalism is now a joke. Banks, fatcats, politicians, lawyers. And tons of red tape and propaganda. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

The 2020s like the 1930s -- Unemployment, Debt, Poverty,Homelessness,The Stock Market, Skyrocketing

The 2020s like the 1930s -- Unemployment, Debt, Poverty,Homelessness,The Stock Market, Skyrocketing Unemployment and debt skyrocketing. Temporary layoffs being replaced with permanent layoffs, Businesses who took the payroll protection program loans which will not have to pay the money back if they retain workers without laying anyone off, will then begin to lay off people after their obligations are met, businesses that have, and will continue to be permanently closed, stimulus money drying up, exposing the scammers of the paycheck protection program, end of eviction moratoriums, unemployment money drying out, and the most important thing, the real panic that will result from when the secretive federal reserve has their cronies pull all that free money from the markets. The wealth effect will turn in to a massive poverty effect. And you think the oil companies are hurting now? We ain't seen nothing yet. All that gas that will not be burned due to people not having jobs to drive to anymore. Spenders will become savers, slowing our economy even more. Or, people simply will have no more money to spend, only credit that won't be repaid. All this is right around the corner. The only thing keeping things afloat now is all the money the government is pumping in. And all that money drying up. Unemployment gone, no new stimulus rent moratoriums will expire, leading to mass homelessness and foreclosure. All hell gonna break loose. America's debt has soared past 26 trillion dollars and is now expected to leap by several more by the end of the year. This debt surge would have been unimaginable just a year ago, and adding to our woes is the road ahead appears bleak. It's over for America. The lockdowns have destroyed millions of jobs, millions of businesses, and trillions of dollars in capital. There will be no V-shaped recovery. Any more than the Titanic had one. Expect the 2020's to be like the 1930s. Expect America to be much poorer and much less free. No, money doesn't necessarily concentrate among the few. Not if we have a sufficiently free society. But given how the economy is being destroyed pretty soon, only the super-rich will be left. Thirty million people don't have as much income as they had in March 2020. Most people live paycheck to paycheck. America has reached the bottom of the barrel. The U.S. jobless claims, including federal filings, rise fourth straight week in a sign of a stalling labor market. And the Fresh wave of layoffs threatens to keep unemployment elevated. The number of Americans who applied for unemployment benefits through state and federal programs rose in early September for the fourth week in a row.Signaling that a gradual improvement in the labor market during the summer has stalled. 884,000 in the week of August 30 to September the 5th. State unemployment numbers show Longer-Term ongoing unemployment claims have increased from 27 million up to 29 million in recent weeks. The number will only continue to rise; we will be over a million a week shortly. Most restaurants and bars across the country are shut down. Many farmers are hurting because the restaurants that bought their stuff are closed, and they have to give the stuff away or let it rot in the field. Many states still in lockdown, so there is no job to go to. Lots of people are not covered by unemployment. If an employee wants to sit home and collect his bonus and refuses to go back to work would be fired on the spot after a given warning, which will cancel their gravy train. There aren't enough jobs for all the unemployed. That's kind of the problem. It is the people who were furloughed but still received pay from their employers because of the first COVID bailout bills. As that program has expired and the money is all gone now, the companies are trimming staff in order to right-size them to meet demand. The worst is yet to come. States have lost massive tax revenues. The bleeding hasn't stopped. When the unemployment runs dry, states will have millions of new welfare cases to take on. Pension debt is out of control, and taxes will go up significantly on those left with jobs. People are not paying their taxes, municipalities, school districts, transport authorities all have to start laying off people. These are all well-paying jobs. A lot of these people are owed public pensions. This will precipitate another crisis as sufficient money was never put aside to pay out so many retirees at once. Social Security, Medicare, Medicaid, State and Municipal pension funds will all go bankrupt because the 29 million unemployed are not paying into the system; instead they are drawing extended unemployment. The poor stay poor, but they got free stuff, the rich get richer, flirting with power. The majority of middle-class Americans get squeezed by stagnant income and higher living costs and taxes. A small percentage of them will join the rich, a certain percentage will stay in the middle, and the rest will join the poor. More unjustified, manufactured gains pumped into the most grossly overvalued market in history. The Stock Market is up; that is the only thing that is important. Screw all the little people. Lowering corporate tax rates from 35% to 21%, so companies buy back their stocks, was a poor idea. Sixty of America's top 500 companies paid no taxes during 2018. Amazon and Netflix should have paid a collective $16.4 billion in federal income taxes based on the Tax Cuts and Jobs Act's 21 percent corporate tax rate, but instead, these corporations received a net tax rebate of $4.3 billion. And still, the US markets continue their merry way, like a drunkard intoxicated while drinking from bottles labeled borrowed money and printed money. Last days of the Roman Empire. The US Dollar is headed to zero. Dow 50,000 and NASDAQ 25,000 is just around the corner. When Venezuela, Argentina, and Zimbabwe destroyed their currency, their stocks went to the moon. The disconnect between the Fed's stock market prop up, the small number of companies (mostly tech) absolutely making money hand over fist, and what is actually happening on Main st with small businesses and the actual economy, is so huge, so seismic, it hasn't even come close to being addressed yet. But that doesn't mean it won't. The top 10% owns something like 85% of the stocks. When the Fed and Treasury do things to benefit stocks, it's not even close to evenly distributed. So the ordinary guy with a $25k 4o1(k) gets to see it go to $30k. Big deal. He's more harmed by the inflation, which is eating away his purchasing power from his wages. No one will care until they are literally standing in a bread line. That’s the problem. It is what it is, and there is NO WAY back out of the growing mess and growing Debt our nation is in. By the end of 2021, MORE than 50% of all of our nation's workers will be unemployed and with most of them facing Homelessness. Rest In Peace The USA. Our Nation and Our Economy is now too far gone, and there will NOT be any Recovery in the next 50 years,regardless of who our future President is. The day of reckoning may be coming, as it did to Rome, Greece, Great Britain, Spain, France, and other former empires. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. Don't forget to subscribe ,And please don't forget to hit the little BELL button to get notifications. Six months in, and the weekly jobless claims are still higher every single week than the pre-COVID record. And then there's the fact that the number of people on unemployment insurance is actually going up, not even staying flat. What's going to happen when state and local governments, starved of tax revenue and facing huge COVID-related out of pocket expenses, run out of cash and need to shed jobs by the millions nationwide? If they don't get relief soon, this is almost a certainty by year's end. The jobless claims are not going down at all. What's happening is less people being approved since they only count people who are jobless and are approved to receive unemployment. The number is much, much higher. Many jobs are lost permanently. This pandemic probably marks a new job market era/revolution with all the remote work and because many organizations realize they can survive with less employees. So many people’s unemployment has run or is running out, and their jobs are not back yet. The economy was tanking before the pandemic hit. The shutdown and its trillions of extra dollars spent will make the crash all the more biggly. Even before the virus, over 50,000 retail stores had closed their doors forever and gone bankrupt. Then along came the virus to make matters even worse. Our nation's malls and shopping centers had a growing number of vacant stores from long before this virus hit. Our Nation's GDP shrank by over 30% last Quarter. Many state governors are starving small businesses. Take New York State Governor Cuomo just announced he would let New York City restaurants open at 25% capacity once the mayor puts a security staff in place to ensure compliance. Are we living in eastern Europe in the 1940s? No business is going to make a profit of 25% capacity. Many will (if they haven't already done so) permanently close. Same for casinos. Indian casinos in NYS have been open since July. No virus spread has been linked to any of them. They are following NYS rules, but don't have to. So now he's letting the private casinos open, but at 25% capacity, how long will they survive? So half of their employees will remain unemployed. Restaurants that previously stayed open late now all close at 8 pm. Walmart uses to be open 24/7 - no longer. Most stores close at 8 p.m. Others have closed for good. There are jobs, but many require specific skills, experience. And, many of the unemployed got used to making way more money then they did working and are finding it hard to go back to work for less money then they received being an idol. Where's the incentive? They want you to believe in a socialist society where you are dependent upon the government. Life will be good (in your dreams). That is until the dollar devalues and government money runs out, as those that choose not to work also do not pay taxes. But, don't worry about those at the top. They will just get richer. People returning to their same jobs because their mayor's allowed them to reopen is not adding jobs. No jobs coming back at the 100,000+ small businesses closed permanently thanks to the government lockdown. More than 100,000 small businesses have permanently closed due to coronavirus. No doubt bankruptcy attorneys are doing record business, however. A new study estimates about 2 percent of small American businesses have closed for good. Thirty-four percent of small business owners said they are either paying reduced rent or are delaying payment. Three percent of restaurant operators have gone out of business. Eight hundred eighty-one thousand additional unemployment claims filed last week alone. A number that will later be quietly revised up, as is the case every week, as unemployment claims are now approaching 60,000,000 over the last 24 weeks. 8.4% are no longer reporting unemployed because congress went on vacation and failed to extend unemployment benefits. Employment numbers come from a monthly survey, which is highly subject to timing in the month. August used the early week before the impacts of CARES act programs ending were felt, which would have a large impact on consumer spending and hiring/layoffs. I have no confidence that Wilber Ross's Commerce Dept, who oversees the BLS, made the proper adjustments. The same issue we had when 14% instead of more accurate 19% was reported back in July. Folks who said they were employed but in actuality were furloughed and not being paid who should have reported themselves as unemployed did not. Now we are hearing of these folks getting official pink slips. LET THE GOOD TIMES ROLL. HAPPY DAYS ARE HERE AGAIN! According to shadow stats, the REAL unemployment rate is closer to 30% of working-age Americans. We've lost 58+ million Americans who have applied for the first time unemployment.And we've gained 10+ million jobs.How does that equate to the magical numbers from the BLS??? The continuing claims drop is because millions who lost their jobs in March are no longer getting unemployment.In New York State, it's only for 26 weeks. These DOESN'T mean people are working,they just don't count anymore. BLS un-employed data doesn't count the 65+ million US citizens, that is, NOT PARTICIPATING in the workforce. Adjust that 65 million to almost 100 million. The criminal doesn't even begin to describe the massaging of these numbers. The official unemployment rate of 8.4% is absolutely hilarious. 100% fake. It is probably more like 25%. Sixty million people are collecting unemployment benefits, out of a total 150 million max working-age population. How does this work out to be 10 percent unemployment in anyone's math? Unless it is the new black math that we hear so much about and is being taught in $100k a year universities. It seems more like the actual unemployment of working-age Americans is closer to 40 percent than 10 percent. According to the labor dept's own statistics, new applications for unemployment assistance exceeded 1 million a week for over 19 weeks straight. At the onset of COVID, it was well over 3 million per week. Ten percent would mean 15 million people are collecting unemployment. It seems the government has also adopted the new black math. Forty percent is the new 10 percent. It's as much of a fraud as is a hedonic adjustment in the calculation of inflation. Unemployed people are those still desperately looking for a job; you don't count those who have given up (not that this makes sense anywhere). If anyone thinks employment has made any significant recovery,he is smoking something. Every week shows more and more businesses closing or downsizing. Something like 25% of the vaunted 1.8 million was in temporary census-taker jobs that will go away very quickly. The big three airlines alone are talking layoffs in the tens of thousands each. The Port of LA reported that container cargo shipping is way, way down. In California, I believe something one million people that filed unemployment claims have not had their claims processed. Because of that, it's likely that those one million people aren't in the unemployment statistics. Sure, a lot of people are working from home, but if there really was an "impressive" recovery in employment, why am I able to drive on the Bayshore Freeway from the mid-Peninsula to San Francisco at the morning rush hour without once tapping the brakes? Why, during a Friday afternoon rush hour, can I go into Foster City from San Mateo, a trip that pre-CoVid could take 45 minutes to go about 4 miles, in about 10 minutes? It's because there is a shitload of people that are NOT working, and because of the lunatic governor of this state, they aren't going to be working any time soon. Many brick and mortar jobs have been permanently lost, several million if not 10. The massive printing of money leads to inflation, and this round is not trivial. It is massive. Real wages will fall dramatically. Already going on. Been to the grocery store lately?, been to Home Depot lately to look at 2x4? Prices? I would say 5% real wage deflation over the next year as prices rise with little wage pressure due to high unemployment. The government trying to fix everything by making commerce illegal and creating mass unemployment, then bailing out anybody and everybody with the printing presses running 24/7 is no solution. Society will look back at this and say what an idiotic and overdone response to COVID. Idiots fixing things. It was cover for the largest smash and grabbed in history. $27 trillion debt, of which $8 trillion was added in the past 43 months. With $8 trillion thrown away, we still have a GDP contraction of 32.9%! Without the $8 trillion, what sort of contraction should we have had? 69%? $8 trillion is about 50% of our annual GDP before Covid. We seem to have an economy filled with holes that lead to the pockets of the few and corrupt. Between DC, Wall Street, and Silicon valley and public Unions.The PERFECT STORM IS COMING! America, the most powerful nation, is flat broke, but the rich are doing well. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

👉37 Million Face Food Insecurity in America, Breadlines, Poverty, and Hunger Rising

👉37 Million Face Food Insecurity in America, Breadlines, Poverty, and Hunger Rising Unprecedented unemployment is creating new pressure for local food banks. More than 37 million Americans are currently food insecure, according to USDA figures. That's nearly 1 in every eight households in America that do not have enough to eat. Food insecurity is a horrifying reality for many families in the United States today. Nearly one in five children are living below the poverty line without access to nutritious food options, making them highly susceptible to obesity and the diseases that can accompany it. Bread lines are becoming a common sight. Food pantries are appearing more frequently in a surprising type of location: colleges and universities. But hunger is not a question of scarcity. Farmers turned over crops, packing plants, slaughtered animals due to lack of business because of the legislative agendas. All that food could have been given to the food banks across this nation and other countries. The pandemic is having an effect on supply lines, resulting in increases in prices at the checkout stand, but that's not the only reason food prices are going up. It's a combination of real inflation, supply/demand, civil unrest, the government forcing shutdowns, and the willing public that support these policies. The American government spends billions each year on wars but can't even properly feed their own people. In the US, 6 million Americans became eligible for food stamps since the early months of the pandemic, according to the Washington Post. Stretching food safety nets to meet the increased need poses a challenge for countries because of how fast the numbers are rising. With less income and access to buy food for their families, women face additional challenges. Losing income or school nutrition programs that children rely on increases the caregiving burden. The inequality in food systems that women faced before COVID-19 is now exacerbated. As the primary food providers for their families, women are responsible for as much up to 90% of food preparation in households and often handle grocery shopping, according to the report. During the global grain crisis of the mid-1970s, then-US Secretary of State Henry Kissinger allegedly declared, “Who controls the food controls the people.” Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. And don't forget to hit the little BELL button to get notifications. And as You know friends, I rely on your donations to keep this channel functional. You know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. Americans were very hungry during the depression. Most of the statistics from that time though, point to decreased health caused by malnutrition, but starvation was not a problem, or maybe it wasn’t tracked. Statistics from that time probably left off blacks. Hospitals would probably not keep statistics on minorities. My guess is there was starvation among people who were not white. The food supply fell apart because of multiyear deflation. Deflation caused farmers to go out of business. This happened because the banks failed, and people had no money. People could not pay enough for food to cover the cost of growing food, much less the grocer’s overhead. Today there is an amazing amount of food insecurity in the US. Food insecurity is newspeak for going hungry. Food insecurity means that a family does not know whether they will have dinner or where it will come from. One in seven Americans has food insecurity at least several times a month. Cutting school lunches and meals for the elderly is a sick crime. It is so mean; I don’t even know what to say. The USDA defines food insecurity as, “The limited or uncertain availability of nutritionally adequate and safe foods; the limited or uncertain ability to acquire acceptable foods in socially acceptable ways.” To measure this, we’ll be using Northwestern’s COVID-19 Impact Survey. Two surveys have been released thus far, the first conducted between April 20th and 26th, the second between May 4th and 10th. Households were recorded as food insecure if they responded with “often true” or “somewhat true” to the following questions. 1. We worried our food would run out before we got money to buy more. 2. The food that we bought just didn't last, and we didn't have money to get more. We’ll begin with the April report. At this point, food insecurity had doubled since early 2020, reaching a height unseen in the past two decades. The increase was greatest in households with kids, reaching as high as 40% for mothers with children under the age of 12. This was mostly (though not exclusively) concentrated among lower-income households, and noticeably higher amongst black and Hispanic households. What changed by May? Although total food insecurity remained statistically unchanged from April, the composition of the food-insecure population did change. Even middle-class families, who are working, can have issues with food insecurity at this point. We still have to feed 300 million people in this country. The overall demand for food has not changed. Where we get our food from, has. Demand by consumers has not changed, just where we get the food from. The reason that farmers are plowing into the fields is simple. Unemployment is paying better. The reason that farmers are dumping their product is because it is a loss for which our government compensates them for which is more than what they would have gotten for their product. All nations should be stockpiling food. Extrapolating local conditions to the country at large are problematic. Assuming the demand for milk,and produce is the same, what has changed is the logistics of the supply chain. Yes, there are hungry people where farmers are plowing food back into the ground, but there is a HUGE disconnect beyond the mere distance. You have demand on one end & producers on the other, but what has changed are the middle-men. The processors, packers, shippers, & distributors have all been affected. Look no further than recent stories about meat packing companies closing due to virus among their workers. Supply Chain Logistics is what politicians don't understand. They go to the store and stuff is there. Simple. Except when it isn't. Take testing; people are touting how much testing capacity (food supply) we have available. We also have a need for Live testing (people are hungry). What is missing is the ability to connect them (logistics), i.e., the network of people who take samples, pack & ship them to labs, and then finally do the tests themselves. Other missing VITAL ingredients are the chemicals needed to maintain the samples in-transit and those needed to process them.If any piece of the process is missing/broken, the entire process breaks down. The food supply chain needs downgrade, not upgrade. Needs deregulation, decentralization, de-amalgamation, and a few other de-s to go back to food locally produced, locally processed, and locally sold without much supply chain to control it. Of course, depending on the product, locally means the same county, same state, or the same country. That will be real food security. Initial United Nations forecasts show that in a worst-case scenario, about a tenth of the world’s population won’t have enough to eat this year. The impact will go beyond just hunger as millions more are also likely to experience other forms of food insecurity, including not being able to afford healthy diets, which can lead to malnutrition and obesity. The effects will be long-lasting. Even in its best-case projections, the UN predicts that hunger will be greater over the next decade than forecast before the pandemic. By 2030, the number of undernourished people could reach as high as 909 million, compared with a pre-COVID scenario of about 841 million. The current crisis is one of the “rarest of times” with both physical and economic limitations to access food, said Arif Husain, chief economist with the UN’s World Food Programme. As many as 132 million more people than previously projected could go hungry in 2020, and this year’s gain may be more than triple any increase this century. The pandemic is upending food supply chains, crippling economies, and eroding consumer purchasing power. Some projections show that by the end of the year, Covid-19 will cause more people to die each day from hunger than from virus infections. What makes the situation unmatched: The massive spike is happening at a time of enormous global food surpluses. And it’s happening in every part of the world, with new levels of food insecurity forecast for countries that used to have relative stability. In Queens, New York, the lines snaking around a food bank are eight hours long as people wait for a box of supplies that might last them a week, while farmers in California are plowing over lettuce and fruit is rotting on trees in Washington. In Uganda, bananas and tomatoes are piling up in open-air markets, and even nearly give-away prices aren’t low enough for out-of-work buyers. Supplies of rice and meat were left floating at ports earlier this year after logistical jams in the Philippines, China, and Nigeria. And in South America, Venezuela is teetering on the brink of famine. Imagine you lost your job, and your savings have dwindled, leaving you unable to put food on the table for your family, and your landlord is warning you to pay up or else. Imagine there's no government assistance, no unemployment benefits, no stimulus checks, and no food banks. What would you do? Beg on the streets? Knock on your neighbors' doors to ask for their leftovers? This is exactly what many, many people are going through right now in developing countries. The military strategy by every communist government is mass starvation; Russia did it, China did it. Each country killed hundreds of millions through planned starvation. This is how the Deagle 2025 depopulation plan begins. The only defense is. 1) grow your own food. 2) trade outside the central bank and government taxation with gold, silver, seeds, and ammo. 3) 2A to defend your land and food. if you have the cash, consider buying at least three months of storable food. Especially if you live in a big city. The week's orgies of violence will occur in every big city. You may see trucking slow down in those cities. If you didn't see this coming, you're not the sharpest knife in the drawer. Smart people already sold their potentially vulnerable assets, relocated in remote regions, and stocked on food and other manufactured items, which will gradually become rarer and more expensive. People should seriously consider growing their own food. Currently, salmonella contaminated onions are a huge national recall. Recently it was tomatoes. And pork and chicken meats and chicken eggs are constantly reported in recalls for salmonella contamination. How does salmonella get on vegetables and in meats and eggs? Well, 3rd world countries who grow much of our cheap produce, pork, poultry, and eggs sold at Kroger and Walmart often irrigate with contaminated water, sewage that is not properly treated before draining into the water supply. Contaminated water supplies can also put salmonella on your tomatoes. Runoff from livestock, wastewater lagoons, industrial farming sites all leach into streams, groundwater, and other bodies of water farmers draw on for irrigation. Just one more reason to grow our own food or at least buy local from farmers' markets. As the economy falters, more and more cheap imports will hit your grocery. Stock up on beans and lentils. They last a long time, are cheap and very nutritious. And if you have enough money, why don't you buy rural property and keep your real physical gold there? The time is coming when you are going to wish you had a farm like the old English manor houses where they hired farmers to work the land. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

👉A Financial Catastrophe is Unfolding. Money Printing can't Create Economic Growth !

👉A Financial Catastrophe is Unfolding. Money Printing can't Create Economic Growth ! Debt is more addictive than opium. The United States of America is high on mountain of Debt and unfunded liabilities. A Financial Catastrophe is Unfolding. The economy is addicted to government bailouts. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom. We have created the weakest economy in history, goosed by the biggest borrowing in history, increasing government spending more than ever, and running the biggest deficits in history over 3-4 trillion. We now sit at an all-time high in income inequality. With six people control more wealth than the bottom 60% of all Americans combined. We have an unsustainable economic model. Our road infrastructure continues to crumble, but our taxes keep on increasing. Low rates are killing both generations. Boomers are losing wealth, and millennials can't build it. Factories are not open. Car manufacturers are still only at 40%. Unemployment remains sky-high; the threat of a fresh wave of layoffs is rising. The government is lying about true inflation and unemployment figures. The books are cooked. We still have around 40 million unemployed. The pandemics severity turned a daunting task into a notional disaster leaving nearly 200,000 dead and 40 million unemployed, ratcheting up spending and American debt by $5 trillion. The market hasn't been a reflection of the Economy for years. , , We have today the Biggest stock bubble in history. The market capitalisation-to-GDP ratio in the US is just shy of 200 percent. The S&P 500 companies alone are worth about 30 Trillion, or 150 percent of GDP. Tesla is priced as if it is going to sell 100% of all the cars and solar panels on the planet next year. There are zero reasons why the NASDAQ can reach all-time highs In the midst of a recession and a coming depression. The only thing keeping this market going is there is no place to put your money to get a return. This is all a result of the Fed's zero interest rates. The stock market bubble may have started popping. The air could easily be coming out of this bubble. We’re down 10% on the NASDAQ in three days — three trading days. How do you know we won’t be down another 10% in the next three trading days? You don’t. Now, it could come back. Yeah, of course, the stock market could come back. This is all the Fed's doing. They have conditioned a whole generation that the Fed has their backs and that bear markets no longer exist, so just buy the dip. The Fed has got the market’s back. The Fed is the market’s friend. In fact, the Fed is the market’s only friend. The Fed is the only thing the market’s got going for it. Our nation's economy is NOT going to recover within our lifetimes. Our Nation and our Economy, unfortunately will not survive as we have known it to be in the past. It is way too far gone now to Recover. Federal Debt, Corporate Debt, Consumer Debt, and Student loan debt are all at record highs and still growing. There is NO WAY Out of this mess we have created for Ourselves. Equally sad and upsetting is that we a rapidly heading in the wrong direction towards becoming a Third World nation ,where we turn upon one another like uncivilized mobsters in our future Quest for Survival of the Fittest of our species and relentless misery and suffering. Not only the USA are a divided moral trainwreck internally, but they recklessly destroyed the balance of the rest of the world by imposing their domination on the cultural and economic fabric of most of the world, and very often through the force and threat of their military. The era of globalization in the US started with Woodrow Wilson, WWI, and the Federal Reserve. End the Fed. End foreign entanglements and bring our troops home. The present world crisis seems to be spelling the beginning of the end of Pax Americana.And may hold untold other major readjustments in the international division of fiat currency and world power in store for the future. Knowing what the future holds forth for us is a Curse because regardless of how much we know with 100% certainty, we cannot change what is coming. Whatever happens, the 1% will still rule, and the 99% will still be the Sheep. Time for the sheep to break down the fences and escape into the larger pasture. The future's so bright, you gonna need sunglasses! Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, I rely totally on your donations to keep this channel functional; as you know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. The European Central Bank will lower rates or announce more QE tomorrow. Those central bankers stick together. They all believe a weak currency is good for a nation. The race to the bottom continues, who will be the final winner in destroying their currency completely. "Central banks are made up of bureaucrats and academics who do not know what they're doing. They do not know how markets work. They don't know much about the real world. These guys can't save the world. All they want to do is save their jobs.” - Jim Rogers. The Central Bankers are trying to save their jobs, not the economy.They are trying to save their job at the expense of everyone else’s job. They work for the government. They are employees. They only answer to the voters. If the voters are angry, they vote them out of office. So, they don't care about the economy. They will print trillions of dollars, even if it means it's going to kill the US economy. As long as they get re-elected this coming elections. They don't care about the US or voters, only in keeping their positions of power. They know exactly they are merely carrying out the agenda set by their owners. This is the only to save their jobs. The owners of central banks do not set up central banks to serve you or me, but themselves. The ultimate objectives of owners of central banks are owners of everything (tangible assets, productive businesses, lenders/creditors). Look around; this is playing out right now!! Eventually, loose monetary policy will damage real savings to the point that the economy can no longer sustain sufficient economic growth. At that point, it will become clear that money printing can't create economic growth. The fed keeps printing money, which lowers it's valued and will eventually crash entirely. Precious metals are free from this because you can't just magically create precious metals. That's what makes it the best currency. At some point in our future, the US dollar will be an irrelevant currency, while precious metals will still have value. Zimbabwe is where all this printing will go. The system we know today is only about 100 years. History will repeat and a reset. "The dot-com bubble that formed over five years was fed by cheap money, easy capital, market overconfidence, and pure speculation" - sounds like history is going to repeat again. This cannot be permanent. With every fake dollar printed, it dilutes the value of all the rest of the dollars in the system. It's like a bartender who adds just a tad of water to the alcoholic drink. He starts out with a teaspoon at first, then goes to two, then to three, but there is some point where the purchaser of the drink wakes up and says: what the hell? This is nothing but water; then hell breaks loose. The central banks have to keep pumping up the markets. Fed Will prop up the Stock Exchange with the last drop of the blóod. When asset prices collapse, so does the financial system when bankers have been lending to inflate asset prices. Kamikaze! What the individual American has to realize is that the policy of inflation makes it impossible for him to organize his working, earning, spending, and saving in such a way that he could provide for the future of his family. This is why the inflationary policy is the most radical revolutionary institution in the world. — Ludwig von Mises. The solution is to be out of debt. With no debt, you have a lot of options. To get out of debt, you have to forego a lot of stuff that your peers have. Do you really need a $5 cup of coffee every morning? that is $1250 a year. How about all the streaming services? That brand new fancy car? Luxury home? No, those are wants, not needs. Focus on your needs and less on your wants to get out of debt. Once there, do not go back into debt. Then you will be fine. Take responsibility for you're own health. Strengthen your ur immune system. Change your mindset! You can be prosperous amidst chaos and confusion. It's your choice. Don't wait for the government to give you handouts. Read between the lines. Do your own research and find out who's telling the truth. Stop spending money on meaningless things that are irrelevant during this time. Take your money, save it for just necessities right now. Regroup and understand how finance works. Re access to your finances and start over. Become creative; use your talents. Good idea to look into asset management, away from industry work and more IT work. Dig deeper, stay safe. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

👉NYC Real Estate Market Crash , Retail Rents Plummet, Shopping Districts Turn into Ghost Towns.

👉NYC Real Estate Market Crash , Retail Rents Plummet, Shopping Districts Turn into Ghost Towns. New York City Commercial Real Estate Sales Plummet 54% To Lowest On Record. News has been out for months. New York and other megacities like London, Dubai, Singapore, etc. are emptying up. They were too expensive to survive in, but once the pandemic hit, many more started leaving due to job losses and lack of incomes. As a double whammy, almost no one is coming in. And no Giuliani is coming to the rescue this time. This crime and anarchy driving people out of town are what happened in New York City, the 1970s and '80s. This time it is different. New York is a centralized concept; its entire reason for thriving is the need to be near the beating heart of money. But in the Zoom era, location means zip. The city as a target-like concentric fortress of location as capital and coolness is going the way of the dodo. Terminal velocity decline. You'll soon see rampant crime, drug use, corruption, murder, prostitution, kidnapping, hijacking, garbage and graffiti, and feces all over every surface. New York City commercial real estate deals have hit a brick wall as the pandemic continues to roil the local economy. According to the Real Estate Board of New York, investment sales dropped by a 32% drop in transaction volume and a 54% plunge in total consideration compared to the first half of 2019, and a record low since the Real Estate Board of New York began reporting the data. Apartment buildings suffered the biggest drops in prices, at 50% on average. Offices and hotels saw decreases of 28% and 37%, respectively, while prices for retail properties were flat. And just wait until the derivatives on all that overpriced real estate start (not) getting settled. Take 2008 and add a couple of orders of magnitude. Keep in mind; some pre-COVID 2020 deals are in that mix. The carnage is actually great. Next, most properties have mortgages, and many cannot take great hits to the price - without having all the equity wiped out. These buildings are heading towards foreclosure. Foreclosure for larger pieces of real estate is very different than losing your home. The lender has the right to appoint a receiver and essentially take control of the asset. The borrower loses his financial right to the building fairly quickly. We were top of the market in pricing before COVID hit. And New York was top pricing in the United States, along with the Bay Area. Really expensive real estate, even in the boroughs. COVID will perhaps have a permanent mark on New York, combined with very ineffectual leadership, the city is in steep decline. Cuomo and DiBlasio have stuck the knife so deep into New York it may never recover. Demographics mean the next mayor will be worse than DiBlasio, as hard as that is to believe. Detroit is going to look like a paradise compared to New York if something doesn't change soon. Maybe we could sell it to the Chinese or the Saudis and at least get some law and order? Why does anyone want to live in the largest concrete jungle in the world, where everything is closed, and there's nothing to do. And the risk of turning a corner only to encounter a violent mob, with no police presence to protect you. Once out of that dump, people will not go back. You can buy a crap ton of land up in Montana and live nearly dirt cheap with your own runway! There's a lot of people who live in New York, simply because they live in New York. They don't even consider how much better off they would be somewhere else. Once they leave and experience an instant standard of living boost, they're never coming back. New York City is no longer fun, no longer safe, and it is dirty. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, I rely on your donations to keep this channel functional; as you know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. Big cities are overrated, and people shouldn’t be living in squabbles. We don’t have a land issue in America. What we have is people who think they need to live in a big city because of the overhype, and that’s why 80% of the population tries to live in 10% of the land near the coasts. Time for these people to get some fresh air. Who wants to pay millions for an apartment with human feces on the sidewalk? Maybe the grit was interesting when there were culture and shopping around, but it’s not so much anymore. It’s just a third world hole. They got what they bargained for. It’s the height of hypocrisy that they’re abandoning the shot hole they created. It was fine as long as their money insulated them from it, but now that even their gates can’t keep the garbage out and it’s their lives being affected rather than just the middle class, they’re all out of there. Overpriced, overhyped, and overcrowded, and it's not just New York. It's big cities across the country. Ten grand a month apartment rent. That's probably nowhere near the high end either. It's all just too much. People are moving out of big cities, and the monthly cost is only part of the reason. New York Is Dying. Manhattan Becomes A Ghost Town & Will Never Be The Same As Before Corona Virus. High taxes, crowded, smelly rat-infested streets, riots, and COVID. I can see why people are bailing en masse. That apple is rotten to the core, and I'm pretty sure it will ruin the whole barrel. Wealthy People Are The First To Flee While the Poor & Homeless Remain Behind. Tens Of Thousands Of Job Cuts Expected In Public Jobs; Hundreds Of Thousands Jobs Lost In The Private Sector; Iconic Restaurants, Hotels, Bars, Theaters, Bookstores, and Gyms Closed Permanently. 13,000 Apartments Are Officially Empty. Governor Cuomo Pleads To The Elites To Come Back By Saying “Come Over, I’ll Cook”; Relocation Companies Are Very Busy; Crime Is Completely Out Of Control; Largest Retailers & Smaller Ones Are Shutting Forever. What's gonna be really hilarious is when New York counts it's tax bills in the next few years. All those people are fleeing the city and telecommuting. Soon there won't be anyone left to tax, and the unconstitutional attempts they'll obviously make to tax telecommuters across state lines will be struck down in court, leaving them cash poor and in debt to the ceiling. The Parade of Horrible is about to begin. Expect every effected property owners to march on the New York property tax assessor office and demand a reduction in assessed valuation. New York is in a tailspin, and we can only hope the whirlpool takes mayor down the drain and into the sewer where he belongs. The mayor of New York City gets credit for all this. Many people are leaving the city and relocating to Las Vegas. Low real estate taxes and zero income tax are good. Crime is well controlled by Metro, which is what the local police are called. Ask OJ Simpson. You commit a crime; you go to prison. Folks are moving to places like FL, TN, etc. where their tax burden is actually lower. Detroit went bankrupt when the Unions destroyed the industrial base. People left because of the jobs left. People would live there if there were jobs & the streets got cleaned up. New York is going bankrupt because it cannot provide for itself and taxes the daylights out of anyone that even thinks about the "Big Apple." There is no industrial base. There is no financial base. There are zero reasons for anyone to live in New York except for the Disney World experience, all sales with just enough wow to keep you interested. Most of the residents today were not born or raised in the city. They have no roots in the city. Keep in mind New York was starting to losing the population before all this happened. The city is also run by left-wing wackjobs. There is no Rudy Giuliani or even Ed Koch, Hugh Carey, to look for leadership. Plus, technology has changed everything. If this was 1986, sure New York would come back, there was no choice, people had to work in the office. But today jobs are moving south - North Carolina, Nashville, Florida, and Texas. San Francisco is one of the most expensive places to live, New York is second. People are piled up in multifamily households all around San Francisco and New York. Work from Home has made that an impossible situation. You can't work from home with rowdy flatmates. So off into exurbia you go. Don't pay rent, collect bonus unemployment, don't renew the lease, have a downpayment for a house after 4-5 months of you and partner saving hard. Then move out to exurbia at a low cost Midwestern or Southern state. The gain in productivity and the drop in employee costs are driving this. The employer sees 13% productivity gain, 4-7% of costs from real estate disappear, the employee sees no more 2-4 hr commute, $2k to $8k of costs cut. Moving out of high tax high rent city to exurbia with a mortgage cuts housing and tax costs by 1/2 on average; And up to 60% for many. It means an entirely different future. Hard for folks to willingly commute back to the office when crime proliferating all over New York, including the subway, even during working hours. Homeless encampments all over and crammed in hotels in tony neighborhoods is something right out of escape from New York. People are also recouping commuting time /costs and enjoying that spent with family. Heck, even sneaking a beer during the day and not having to get dressed in work clothes and groom will be hard to give up. Who wants to go back on the subway with homeless knifing you, and no police presence? Guaranteed that anything less than murder will not have a response. Zoom and other remote connectivity get companies 80% productivity (maybe more). Who wants to be forced to shoot the s at the office in the name of team building and camaraderie if you can show up to work in your underwear and still get the same work done? Add to all these closed food spots where the lunchtime crowd would go, and there is zero incentive to get people back into buildings. Work from home. Put a fork in them. They’re finished. You can now work from anywhere. Meaning you can move to Florida or Tennessee (etc.) and save a whole bunch of money in taxes. Probably why in the suburbs in Tennessee, the property values are UP. COVID is the new normal. Social distancing. Distance learning. Remote Working. We have been freed, and we are not going back. Not going back to commuting. Not sending our students to be indoctrinated in an environment where you are introduced to drugs and social bullying. New York will become another Detroit within 15 years. City services are terrible. Violence and safety are notably worse. The NYPD is becoming toothless lions because of the administration. Education and all city services are quickly becoming desperate. Once Wall Street becomes totally computerized, and the money is gone. Say goodbye to the greatest city in the World. The Pandemic is only part of the problem. The other half is soaring crime, rioting & arson. No working-class person wants to put up with angry mobs and soaring taxes. New York already had an Exodus problem prior to the Pandemic. It just speeds it up a great deal. Move over Detroit and Baltimore, New York is going to join you! This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics