Is what we’re seeing in the economy “demand destruction” or something more? The short answer is that it’s something more and quite unique as far as I can see. What we’re beginning to live is “demand/supply destruction.”
We’ve seen demand destruction in the United States before and relatively recently, assuming you consider the 1970s recent.
As Glenn Beck reminded us recently, we saw demand destruction during the oil embargo of the early ’70s. He spoke of the huge cars produced by the big three American companies – Lincolns, Cadillacs, Buicks, etc. Then the oil embargo hit, driving gas prices out of sight, forcing Americans to find smaller vehicles that got more that 5 to 8 miles per gallon. The demand for big American cruisers was all but destroyed.
But today it’s different. Not only is the price of fuel skyrocketing, causing demand destruction like the ’70s, but simultaneously, the Biden administration is also busy destroying the supply of oil and gas.
Inflation is ballooning monthly, hitting 7.9% thus far. But even that is a deception. According to Beck, if it were calculated as it was back during the 1970s, it would be about 16%.
So, energy demand and supply is being destroyed domestically. What about real estate?
Well, in February, to help curb inflation, Goldman Sachs called for seven interest rate hikes in 2022 alone and up to 12 successive hikes total. This will crush the real state market, both residential and commercial, with some predicting retail rates to at least double or more.
It will make it much more difficult for the average Joe and Jolene to purchase a home or business property. Then what?
Well, there’s a plan for that, and it’s already been in the works for a while.
Recall the mantra of the World Economic Forum (WEF) and their Great Reset plan – “you’ll own nothing and you’ll be happy.”
But if Joe and Jolene can’t afford it, who can? Enter BlackRock and Vanguard, who have been and will continue to buy up real estate like there’s no tomorrow. They’ll end up owning it, and Joe and Jolene can rent from them. What a deal!
But there’s a caveat. If Joe and Jolene’s personal ESG score isn’t acceptable, they’ll not only own nothing, but the powers that be won’t let them rent either.
However, many of us aren’t aware of this threat. And most never will be. The reason? Well, they’ve got that covered too. Real estate isn’t the only thing these companies own.
Between BlackRock, Vanguard and State Street investments, they are the top investors in four of the six mainstream media corporations, Time Warner, Comcast, Disney and News Corp – and thus they’re able to effectively control what is seen and heard.
So inflation will soon be out of control – food, fuel, housing, etc. Your dollars with be worth less and less. What then?
The Federal Reserve to the rescue! This “crisis” creates the perfect opportunity to introduce digital currency, the fedcoin.
But what about crypto currencies that already exist? They’ve got a plan for that also.
As I’ve said in previous articles, privately held crypto currency will have to be regulated out of existence. The real reason for regulation is that the Fed can’t condone any competition. But the reason they’ll likely give is that these cryptos are “just too decentralized.”
You see, what we need is a centralized system to be able to “keep track” of digital currency, not to mention having one “common currency.” Oh and let’s not forget the (faux) fact that crypto hurts the environment, don’t ya know, with all that energy consumption involved in mining it.
So naturally, the solution to the “crisis” that was transitory inflation and now ongoing inflation is a single digital currency and the use of one bank – the Fed. And this will then lead back to the leftist dream of a “Mincome,” the minimum income. The Fed can turn off the money-printing presses and simply deposit virtual money in your account as needed.
But there may be just a small catch involved. Your personal ESG score will likely determine how much you’ll receive. And how will they be able to determine your score? That’s easy, silly.
They’ll be able to track every digital cent you spend.
But this may end up being a terrific money saver for you and me, for many restaurants, stores, airlines, rental car places, you name it, will refuse us. Why? Because our ESG score doesn’t meet their minimum threshold.
The future sure does look bright!
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