Re: Financial topics
Posted: Tue Jun 07, 2022 11:56 pm
Besides what's on the chart Michael Burry shows, which only appeared to be problematic recently, I would question Americans' ability and wherewithal to save, from the standpoint both of what opportunities the economic system provides for Americans to be truly productive and what Americans are capable of providing to the system in terms of true productivity, which has appeared problematic to me for over a decade. Savings can be thought of in many ways besides cash put aside plus investments, especially when the source of the cash and investment value is mostly from counterfeit money. Manufacturing base and workers well trained in manufacturing can be thought of as potential to generate true savings, for example. It would be my thought that while savings defined as cash and investment value have been trending higher since 2005 until recently, Americans' ability and wherewithal to save has been declining steeply since 2005. At one time I termed that as the wasting process Bernanke was employing by means of counterfeiting money, which would ensure the "inability to reconstitute" through depletion of the productive population, knowledge, opportunities, and soundness and stability which generate true savings. The other thing that's come to mind recently regarding Bernanke's wasting process is that back in 2008 it was stated by the financial gurus that sound banks were all that was needed to put the US back on the road to recovery and supposedly the banks remain sound at present. Will big box, the trucking industry and others be bailed out when crunch time comes, or would that be "anti-capitalistic" because "the weak deserve to fail" when in fact they were weakened by the bank bailouts and the fraud that preceded it.aeden wrote: Tue Jun 07, 2022 3:38 pm Michael Burry is saying the same thing we are seeing real time. Smart guy, very smart guy.
I would listen up as h also warned us.
https://www.msn.com/en-us/money/savinga ... ar-AAY8yKk