Warnings for 2020, days away from crash

Hyperinflation coming and the last Jedi.  A bit humerus but 2008 insanity repeats on hyper-steroids what the media said then and how it played out.  


⚔️Currency Wars: The Rise of Hyperinflation.

50s version

In the USA the previous highest record for people filing for unemployment was around 650,000.. 
 Over the last 3 weeks there has been an average of 6.5million people fining for unemployment per week - in total 17 million so far.

Have a yankee mate who was interested in staying in Melbourne for a few months last year. Looked into the costs and couldn't believe how much food etc were. When I pointed out minimum wage is north of $20 for adults, he couldn't understand how any business could possibly pay that amount of money, let alone pay superannuation etc.

Other friend spent seven or eight years in the US in the nineties, then a few years in Canada after that. Says Canada was better in every way, apart from the weather; can't understand why his Canadian friend decided to pack up and live in Los Angeles. This bloke apparently was almost bankrupted last year by medical fees after his wife had complications during childbirth.

From all accounts, the US really is heaven for the rich and hell for everyone else.

The US economy won't take me down with it.  I don't need the banks, I own outright everything I have, including my three properties.

My superannuation is mostly a multiple of my salary. The balance cannot go down.  My employment is just gravy, I haven't needed to work for years. 

Financial security is a crucial aspect of prepping. It's been my primary focus since I bought my first property when I was only 21. 

You get the same cost variations in the US itself. In San Francisco you will pay Melbourne prices. In Detroit you'll pay bugger all, despite being similar sized cities.

Most of the world is heaven for the rich and hell for the rest. It's only a few western countries where that isn't the case. It certainly isn't permanent either.

All the bubbles are starting to deflate.

Nearly 2 Million Struggling Homeowners Apply For Assistance As Forbearance Explosion Paints Dire Picture

www.zerohedge.com/personal-finance/nearly-2-million-struggling-homeowners-apply-assistance-forbearance-explosion
With unemployment claims hitting nearly 17 million over the last three weeks, the number of Americans applying for the government's mortgage forbearance program under the COVID-19 relief plan spiked 73% for the week ending April 5 vs. the previous week - jumping from 2.73% to 3.74%, according to new data from the Mortgage Bankers Association. 

Pity I don't need a new car, because now might be the time to get a serious discount.

Historically the greatest rises in Stocks have been in bear market rises. Very high volatility and gov intervention - dropping interest rates and pumping money into the system, but this time no matter how much money they juice the system with it will end badly with hyperinflation.

For example the 4 depressions they dropped interests rates on average by 3% to stimulate the economy.  Interests rates were already close to zero and dropping prior to the virus - no there is nowhere to go.  The same with global auto sales been dropping for number of years despite low interests rates and lots of stimulus, longer payback terms etc...  Now to stimulate auto sales - there is nowhere to go. Same with oil price, very little room as storage fill up and the demand dries up.  

It is a house of cards, it all looks goods till the wind blows it down.  ASX down 5% one day on Friday the 1st May is a major warning, thinking the stock market will continue is a fools paradise.    

I read this but feel like there's a real bias in how he's interpreted Buffett's comments. A lot of things that seemed pretty neutral got spun as very pessimistic. Goes with the view of the zerohedge blog I guess.