Author: Kim du Toit

Our economy is sick.  I’d spend a lot more time doing an in-depth analysis, but I don’t think it’s necessary because the signs are all there for anyone to see:  high inflation, high unemployment — both shielded behind the usual lies and statistical sleight-of-hand tricks — and let’s be honest, the flood of illegal immigrants is not helping matters. The housing market is circling the bowl.  Add massive overspending being subsidized by money-printing by the federal government, and it doesn’t take an idiot to see that there’s a reckoning a-coming.

Small wonder, then, that the money boys have taken notice:

Wall Street nosedived on Monday, as fears of the United States tipping into recession following weak economic data last week rippled through global markets.

The bloodbath began in Japan as the blue-chip Nikkei index saw its biggest one-day rout, plunging 12.4%, since the infamous Black Monday meltdown in 1987.

It soon cascaded to the US on the heels of Friday’s troubling jobs report and growing concern that the Federal Reserve was moving too slow in cutting decades-high interest rates.

The Dow Jones Industrial Index plunged more than 1,033 points, capping a drop of nearly 10% since hitting a near-record 41,183 last Wednesday afternoon when Fed Chair Jerome Powell hinted that rate cuts were “on the table” for September.

The tech-heavy Nasdaq slid 3.4% as Apple, Nvidia and the other so-called Magnificent Seven companies that used to be the stars of the stock market continued to wilt.

I don’t have to say that electing a socialist president and vice-president in November will not help anything — in fact, that could be the tipping point into a black swan scenario.

Frankly, I’m not even sure that President Trump Part II will help matters, although it could make the stock market rebound a bit.  Our economic problems, however, go far deeper than the stock market, which is driven by institutional investment and the wealthy anyway.  They would be largely inured from economic collapse;  but the rest of us?  Draw your won conclusions.

I’m assuming that all my Readers have emergency supplies and -contingency plans laid in, because the next few months are not going to be pretty.