QUESTION: Mrt. Armstrong, Socrates has been a real lifesaver. It is refreshing not to have someone spinning their political views into everything. Socrates called for the high in GDP here in 2023 and that the high took place in May. Here, we have Biden creating money without regard for fiscal responsibility. Socrates has shown the economy peaked in May. This is truly remarkable. Is this strange situation our fate into 2024?
ANSWER: I understand that Socrates has forecast what is the opposite of every economic theory out there. It shows a recession has been unfolding since May, but this is on the aggregate level. On top of that, we have a Panic Cycle next year in 2024 in GDP. When I drill down into its forecasts per state, what becomes painfully apparent is what I have been writing about. There is a massive migration from blue states to red states initiated by COVID-19 but accelerated by tax increases. Thus, real estate is declining in the blue states, and those who didn’t want to move because of the higher mortgage rates will find their houses unsalable regardless of the mortgage rates. This will be particularly true in New York, Chicago, San Francisco, Seatle, and Los Angeles, to mention a few. They had their chance. With the onslaught of migrants into those areas, those cities are raising taxes to cope with the aliens who pay no taxes.
Add to all of this chaos, Biden’s open border policy has let in terrorist cells, so nobody bothered to check anyone. Geopolitically, starting a war in the Middle East was insane. The Democrats should just admit that the real head of state in Blinkin and his VP is Victoria Nuland. They are the people running the country into the ground. We will see domestic terrorism thanks to the open border, and this time, World War III will be coming to a theater near you.
Then, we have a surge in diseases eradicated in the USA, like TB and malaria. We will also see a rise in diseases, including polio. Even Fed Chairman Powell has broken his silence in criticizing the Biden Administration. He has made it clear that this spending spree is unsustainable.
Climate Change zealots and the Neocons have usurped the Biden Administration. The Democrats are destroying the United States. Politics is so divided and polarized that they refuse to look at and stop the trend. This is not about Democrat v Republican. The United States has undergone a coup, and those in Washington are so caught up in hating each other nobody gives a dam about the country or the people.
The United States has become so divided – it is impossible to survive as one nation. The division is already starting. So, while the Democrats point fingers at the Republicans and they are so desperate to imprison Trump that they will ensure he dies mysteriously like Epstein and so many, there will be nothing left to fight over.
We are facing a recession because the consumer tends to spend less and save whenever there is UNCERTAINTY. Simple as that.
Then, if we end up with wars in Asia, Europe, and the Middle East, Foreign Capital Will Flee to the US
Hence – we have a Panic Cycle warning about two opposite trends.