World Known Financial Guru Yakov Goldovsky: The global market stands on the brink of the largest economic crisis in history.
At present, U.S. stock prices have reached an absolute historical record based on average indicators, surpassing even the levels of the most famous bubbles—the Great Depression of 1929, the pre-crisis peak of 1965, and the dot-com crash of 1999. Currently, market overvaluation is even higher than at any of these points: in essence, the S&P is valued more expensively than anything the world has seen in the last 100 years.
Our financial sources here in the New York City area note: such a gap between the fundamental value of assets and their actual price on the exchange is a direct threat to global financial stability.
The moment investors lose confidence or trigger a mass correction, an avalanche-like decline and crash will begin, affecting not only the U.S. stock market but also all economies dependent on it. Associated debt and banking crises could lead to large-scale corporate bankruptcies, a real estate collapse, and currency devaluation.
The uniqueness of the current situation lies in the fact that no significant bubble of the past has been supported by such massive monetary stimulus and such a prolonged period without correction.
Against the backdrop of inflated expectations and the global economy’s dependence on American markets, a potential crash threatens exceptional consequences in terms of severity and duration for the entire global system.
Hal Turner Analysis
The COURTS have now positioned the USA to suffer this exact catastrophe
Today, the United States Court of Appeals for the Federal Circuit, put the entire country on-course for this exact thing to take place on or about October 14.
The court ruled (erroneously) that President Trump does NOT have the authority to place Tariffs on imports using the International Emergency Economic Powers Act. The court utterly ignored the "Reciprocal Tariffs Authorization Act (RTAA)" which affords a President that exact authority.
By ruling as it has, the court has set the stage for:
1) A Refund of all Tariffs already paid . . . . (more than $500 Billion), AND;
2) Cancellation of all the Investments into the United States by corporations worldwide (About $6 TRILLION) because those companies will no longer have to build factories here and employ people here, to avoid Tariffs.
3) Continuation of the "hollowing-out" of the United States by outflows of money to other countries (who manufacture things) until there is nothing left in the US.
The court "paused" its Ruling until October 14, so the Trump Administration can appeal to the US Supreme Court.
Whether the US Supreme Court takes the case remains to be seen. They could simply decline to take the case, thereby leaving the Appeals Court decision in-place, and thereby take effect on October 14.
In the approximate SIX (6) short weeks between today and October 14, you should make preparations for an economic shock the likes of which we have never seen. It may NOT happen . . . . but then again, it MAY.
Have Cash Money in your personal possession.
If the court ruling remains in effect, and October 14 arrives causing it to be implemented, markets may tank. If they tank on the scale mentioned above, banks may choose to close until things calm down. No money. Maybe no ATMs. Maybe credit shuts down. Cash would be king. Those who have it, can eat. Those who don't? S.O.L.
Have emergency food and water in the house. Enough food to feed every member of your family for a month or more. If markets tank and banks down (because their stocks went bust, too) stores may not be able to get re-deliveries of food. They can't pay for it if the banks are shut, so they run out.
Have an added supply of any medicines you need to live on. Most folks who take long-term medicines, usually get prescriptions for 90 days. Call your doctor, tell him you want a paper prescription written out for a 90 day supply that you want to take to a different pharmacy and pay CASH for it. Not your insurance because THEY won't renew early.
When your present prescription runs out, start taking the new reserve supply and keep your regular renewal supply that just arrived, as your backup. This way you rotate stock and keep your medicine fresh.
Have a Generator for electricity in case civil unrest breaks out and power goes down. Have extra fuel for that generator.
In fact, have extra fuel for your vehicle(s) too. Buy a couple five gallon gas cans, fill them up and store them properly in compliance with fire codes. If everything goes to hell, Gas stations might close - or run out -- at least YOU have some gasoline for your car.
Have flashlights in each room of the house or, in the alternative, have one for each family member. And have spare batteries for them, too.
Have firearms and plenty of ammunition. If things go haywire, and government has to stop funding EBT and SNAP, it won't be long until roving bands of savages come out of the cities foraging for food they can steal. You need to be able to defend your family and your keep. If you have to shoot, make certain your shoot until the threat goes down. You may end up having to shoot ten, twenty, thirty attackers, depending on how big their roving band of savages is, so have plenty of ammunition.
DO NOT TELL ANYONE - AT ALL - that you have "preps" or that you're "prepared." They will remember that when TSHTF and they will come right to YOUR door looking for "help."
At that moment, you have a choice: Feed them, or feed yourself and family. They lose that choice. When they lose and you tell them sorry, can't help you, they will not be nice. Be prepared.
For a long time, many of us have thought there is a big effort underway, on many levels, to literally destroy our country. Now, they can achieve that destruction and blame the courts. "Gee, it's not our fault, the courts did it."
That will matter little when you or your family are hungry, without electric, without cash, without credit, without fuel, and facing a horde of looters looking to steal what you have.
Prepare.
If nothing goes wrong, you can always eat the food. You can put cash back in the bank. You can put the gasoline in your gas tank.
But if you do nothing . . . . if you make no preparations . . . . what happens to you will be your own fault. You've been warned.
