Whole Thing Will Come Tumbling Down

Iranian mass graves for coronavirus victims are so huge they can be seen from space

Karl Denninger: As they say, the night is young!

What Comes Next – The GDP Reckoning is Here

According to Dr. Vinayak Kumar, an internal medicine resident at the Mayo Clinic, out of the total figure arriving in the U.S. from China, “a large number might have been infected at the time of travel.”
The numbers illustrate “how globalized our world has become,” he added.
However, infectious disease specialist Dr. Simone Wildes suggested that the virus outbreak was the price of globalization and that Americans would just have to get used to it.
“It shows that globalization is here, and we have to be better prepared to deal with the impact this will have on all our lives in so many ways,” he said.
The data also shows that “From December, January and February on travelers entering the U.S. from eight of the hardest-hit countries: 343,402 arrived from Italy, 418,848 from Spain and about 1.9 million more came from Britain.”
Coronavirus Half a Million Chinese People Entered America at the Height of the Coronavirus Outbreak

May 13, 2020  TOTAL CATASTROPHE OF THE CURRENCY SYSTEM

Inflationary Depression Coming – Peter Schiff

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"Finance and economic expert Alasdair Macleod says watch interest rates and the U.S. dollar set the direction for the markets in 2021. Macleod explains, “You can see how, through interest rates, the future of the dollar is actually tied to the future of financial asset markets. If you get a pop in the bubble, and there is no doubt equity prices are wildly overvalued compared to the economic outlook. . . . Quite honestly, there is no alternative but for markets to correct very, very heavily. When that happens, you are going to have portfolio outflows out of the dollar. . . . The effect of that will be to take the dollar down along with financial asset prices. . . . We can get the collapse of the dollar happening very, very rapidly.”

Macleod says the money printing we are seeing now globally is on a scale and pace never seen in world history, and at the center of it all, is the U.S. and the new administration in Washington, D.C. Macleod says, “From last March until today, we can see a total of $8 trillion worth of QE (money printing) required to pay for all the programs, and that includes Biden’s

$1.9 trillion, which I know has not been authorized—yet. The figures are enormous. There is absolutely no way that the dollar can hold its value with that level of money printing. That’s just to deal with Covid. Biden also wants to finance green spending . . . . How much more spending on top of that goodness only knows. The thing is a mess, and it’s not just America. When I look at Europe . . . they are incompetent . . . and when you get an incompetent government like that, forget it. The Eurozone banks are on the verge of bankruptcy, I mean beyond insolvency. They are on the verge of bankruptcy. How do you handle a situation like that when you’ve got an incompetent bunch of bureaucrats at the top? This is going to happen, and I am surprised it hasn’t happened yet.”

Macleod warns to forget about the phony inflation figures pushed by governments. Real inflation will reset the price of everything. Macleod says, “The reality of the situation is the underlying rate of price inflation which means interest rates should be closer to10%. America is now accelerating the money printing at a phenomenal rate, which means everybody believing the inflation rate is 1.4% and governments can suppress interest rates forever . . . and governments can reset everything. The answer is no. There is a real crisis in the winds here. . . . The Biden Administration is likely to undermine the dollar more rapidly than if Trump got re-elected.”

Macleod says at some point, “You will get a stampede out of the dollar . . . . What the Fed has done is they have tied the future of financial assets with the currency. When one goes, they both go.”

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