Quote from: stompix on May 23, 2020, 02:23:35 PM

Quote from: SuperBowl1984 on May 18, 2020, 11:49:09 PM

China has too much money surplus they don’t need tax to fund the government operation.

Boy, you have no idea what you're talking about!

China has continuously run a budget deficit for a decade:
https://i.imgur.com/PaiE8Iw.png

Quote from: SuperBowl1984 on May 18, 2020, 11:49:09 PM

China is a communist country, everybody is equal, nobody can be too wealthy, government can confiscated all the money and execute anybody who is unreasonably wealthy, sad to say this but it’s completely oppose to capitalism, it’s a crime to be ultra-rich in China.

In 2019 China had over 300 billionaires which put the country second in the world, after the United States

Quote from: SuperBowl1984 on May 18, 2020, 11:49:09 PM

China own nearly all US debt

Again BS:
https://i.imgur.com/4TBBEQB.jpg

You have no idea what you're talking about, you don't understand the difference between communism and an authority single-party rule, you have never bothered to look at real data about China, nor its tax system nor its wealthiest elite and the discrepancy there, you are just shouting around things that make ZERO sense.
So, how about you stop?!!!

So you want more data and facts? Read that TLDR.

Quote

it's monday may 18 2020. 00:04 the markets went absolutely gangbusters 00:06 today 00:08 everything up across the board what i 00:10 thought was interesting 00:12 was the dow jones and the number that 00:14 the dow jones closed the dow jones 00:16 closed 00:17 positive up 911 00:21 points i thought that was a very 00:23 interesting number 00:24 for the dow jones to be closing out 00:26 today but we know 00:28 that everything is up across the board 00:29 because of the continued 00:31 money printing the fed uh buying 00:34 trillions of dollars 00:35 of corporate debt zero percent interest 00:38 rates 00:39 uh the money printing continues but 00:41 there was more good news with 00:42 a pharmaceutical company called moderna 00:45 they said that 00:46 that phase one results were very 00:49 positive and and so are we now going to 00:52 be entering the summer where 00:55 we're back to phase ones and phase twos 00:57 and phase threes last summer 00:59 it was phase one with china now 01:02 it's going to be phase one with 01:04 pharmaceutical companies 01:05 it just seems that these markets are 01:07 looking for any any 01:09 positive news in order to have these 01:12 huge 01:12 surges but at the same time 01:15 i went out this afternoon and had to 01:17 take care of some business i was in 01:18 downtown palm springs 01:20 and it is a tragedy 01:24 and i don't know what things are like in 01:26 your area but 01:27 from what i can tell from the thousands 01:29 of people that have been commenting down 01:31 below things are not much better 01:33 where you live but as i as i was in 01:35 downtown palm springs today 01:38 nobody walking around uh very few cars 01:40 down there 01:42 the restaurants that were open were 01:43 takeout only all the retailers continue 01:45 to be closed the resorts are closed 01:48 and uh again it's it's just a complete 01:51 tragedy 01:52 um and how we come out of this i have 01:55 no idea but you know 01:58 watching the markets skyrocket today 02:02 you would think that these were the most 02:03 incredible economic times 02:05 in history they are the worst economic 02:08 times 02:09 in our history we have nearly half of 02:11 this country now working 02:12 unemployment hovering around 40 percent 02:15 the real unemployment numbers are around 02:16 40 percent yes 02:18 yet the stock market is 02:21 soaring unbelievable it's historic times 02:26 again half of americans not working we 02:28 have a frozen economy 02:30 massive debts and deficits continue 02:33 manufacturing at all-time lows 02:37 the industrial numbers at all-time lows 02:40 5 million 02:41 homes in forbearance but 02:44 dow jones up nearly a thousand points 02:46 today 02:48 wow the fed's balance sheet is now 02:51 entering 7 trillion dollars 02:55 you know i just looked at some of the 02:58 numbers comparing 03:00 2020 back to the last financial crisis 03:04 that occurred in 2008 during the great 03:06 recession 03:07 the fed did qe3 quantitative easing 03:11 it was expanding the balance sheet by 80 03:13 billion 03:14 dollars a month we just did 212 03:18 billion dollars in one week 03:21 the highest balance the highest the 03:23 balance sheet got during 03:24 the last crisis was 4.5 trillion dollars 03:28 today we're at around 6.95 03:31 trillion you might as well just round 03:33 that off to seven trillion dollars 03:34 because that's about where we're going 03:35 to be tomorrow 03:38 so i mean it's 03:41 absolutely unquestionable that 03:46 we are witnessing the worst 03:49 economic collapse in u.s history the 03:52 worst u.s 03:53 economy in our history and yet the stock 03:56 market continues to soar 04:00 i read an article today with peter 04:01 schiff he made a couple really good 04:02 points he says we're we are going to see 04:05 big increases in consumer prices because 04:08 of all this money printing because of 04:10 all this debt 04:10 we're going to have to deal with the 04:13 consequences 04:14 of all of this money the fed is printing 04:18 right now and all the money 04:19 that they printed back in 2008 and nine 04:23 during the last financial crisis 04:26 we have not even begun to pay for all 04:29 that money printing yet 04:30 and we're about to many people are 04:32 convinced we can print 04:34 all this money and run massive deficits 04:36 with no problems because 04:38 we have gotten away with it for this 04:40 long 04:41 this is a very dangerous assumption says 04:44 peter schiff 04:45 this collapse is sneaking up 04:49 on a lot of people here because i i read 04:51 people 04:52 in a lot of the economic forums 04:55 and people are still oblivious they're 04:57 gonna look 04:58 at the television today they're gonna 05:00 see that the dow jones was up nearly a 05:01 thousand points and they're gonna 05:03 believe 05:03 everything is okay while they're sitting 05:05 at home with no job 05:07 while they're sitting in a frozen 05:08 economy while they're sitting and 05:10 waiting for a stimulus check to pay 05:12 their bills 05:13 they believe everything is okay because 05:15 wall street is up 05:16 today dow jones up nearly a thousand 05:19 points 05:20 they don't get that wall street and main 05:22 street are 05:23 completely disconnected they don't get 05:25 that they're not a part 05:27 of wall street remember it's not a 05:30 crisis 05:30 until it becomes a crisis 05:33 social security and pensions are going 05:36 to get vaporized because 05:38 of the atrocities that are being taken 05:42 that are taking place right now no doubt 05:44 about it 05:45 this money is going to have to be paid 05:47 back somehow they're going to rob 05:49 continue to rob social security they're 05:52 going to be robbing your pensions 05:54 because this money look remember nothing 05:56 is 05:57 free that balance sheet is now 05:59 approaching seven 06:00 trillion dollars no doubt going to blow 06:03 past 10 trillion dollars 06:05 we're looking at these uh state and 06:07 local 06:08 municipalities going absolutely broke 06:10 cities like chicago 06:12 states like california now running huge 06:15 deficits 06:17 they're going to need bailouts 06:19 corporations need bailouts 06:21 households need bailouts cities 06:24 need bailouts states everybody needs 06:27 money 06:28 so what do you think is going to happen 06:30 here 06:31 they're going to continue to print to 06:33 try to save everything and by doing so 06:36 they are going to 06:36 implode our currency we are going to see 06:40 a venezuela zimbabwe type event right 06:43 here in america and i know there's 06:45 people out there laughing but those are 06:46 the same people 06:48 that laughed when we talked about 06:49 negative interest rates coming to 06:51 america 06:51 i wouldn't laugh about that because i'd 06:53 say 06:55 with within a less than a year somewhere 06:58 in 2021 we are going to see 07:00 negative rates right here in america and 07:02 we may see them by the end of this year 07:04 but 07:04 i believe at some point in 2021 we are 07:07 going to see 07:08 negative interest rates at the latest we 07:10 could see them 07:11 in 2020 but a lot of those people aren't 07:13 laughing now 07:14 because this market is up today not just 07:18 because 07:18 the fed is buying corporate debt not 07:20 because the fed is injecting billions 07:22 upon billions of dollars into the repo 07:24 market 07:25 uh not because the feds has slammed 07:27 rates to zero 07:30 not because of just all that 07:33 but they're also going to lower 07:37 rates to negative okay we are going 07:40 negative and these 07:41 markets know that they understand that 07:43 they are pricing it in 07:44 and as as the fed chairman came out 07:48 and said the other day that he does he 07:50 doesn't expect things 07:51 to get better or to improve in this 07:53 economy until 2021 07:55 so this whole thing is going to be on 07:56 cruise control right these markets know 07:59 that the fed is going to print massive 08:01 amounts of money to limp 08:03 this whole thing along the training 08:05 wheels are not coming off 08:06 anytime soon and so these markets know 08:09 it they understand 08:10 zero percent interest rates going 08:12 negative knowing that the fed 08:14 is going to print as much money as they 08:17 need 08:18 to continue to kick this can down the 08:20 road to limp this thing down the road 08:22 as long as it can it's not a crisis 08:25 until 08:26 it becomes a crisis and i promise you 08:30 this is going to become a crisis take 08:33 a good look at what's happening in your 08:35 areas take a good look at what's 08:37 happening 08:38 in your personal financial households 08:42 i just cannot believe people do not see 08:44 this people 08:45 being paid to stay at home we're bailing 08:48 out corporations 08:50 uh we're bailing we're going to be 08:52 bailing out states 08:53 we're buying corporate debt zero percent 08:55 interest rates 08:56 do you really think does anybody out 08:59 there really believe that this is going 09:00 to end well 09:01 this is really dangerous stuff that is 09:04 taking place 09:06 and there's still people out there 09:07 ignoring it laughing at it 09:09 but the same people laughing at it are 09:10 the same people again 09:12 sitting at home waiting for their their 09:14 stimulus check waiting for the 09:15 unemployment check while they sit at 09:17 home 09:18 and more than likely not having a job to 09:20 return 09:21 to but they don't know that yet but 09:23 they're going to find out the hard way 09:24 when their pensions 09:25 get annihilated when the stimulus checks 09:28 and the unemployment run out 09:30 and they have no other options when they 09:32 go through whatever 09:33 life savings that they have when they go 09:35 through the retirements 09:37 everything they have everything they 09:38 saved up for when it's vaporized 09:41 then they're going to go oh my gosh 09:44 what am i going to do i was reading a 09:46 few articles this morning 09:48 wow the stock market was going ballistic 09:51 i want to share these articles with you 09:54 and try to make sense of this we are 09:56 watching the dow jones 09:58 uh it actually surged over a thousand 10:00 over a thousand points 10:02 at one point today while uber to cut 10:05 3000 10:05 more jobs this is on cnbc today 10:09 you get a chance check that out may 6 10:13 uber cut 3700 employees today they 10:17 announced they're going to cut 10:18 an additional three thousand so just in 10:20 the month of may 10:22 uber will have cut 25 percent 10:25 of its workforce just in may and the dow 10:28 jones 10:29 was surging past a thousand points 10:31 earlier today 10:33 wow uber continues to cut people here's 10:35 another article survey thirty percent of 10:37 americans have rated retirement 10:39 savings uh so again 10:43 this is a real reflection of what's 10:46 happening in the real economy not the 10:47 illusion we call the stock market not 10:50 a ponzi scheme and remember all ponzi 10:52 schemes 10:53 end and they end pretty badly and 10:56 this one is going to end very badly 10:59 let me continue with this article 3 in 11:01 10 americans have dipped 11:03 into the retirement savings to help 11:05 cover expenses 11:07 uh boy i guess they're not making a ton 11:09 of money in the market look 11:10 i'm not against anybody being in the 11:12 market i'm completely out of these 11:14 markets 11:15 um i'm a spectator at this at this point 11:18 uh 11:18 you know on the outside looking in i 11:20 have no ambition 11:22 to be playing these markets right now if 11:25 you are 11:25 i hope you're making a lot of money and 11:27 i hope that you're taking 11:29 that paper fiat monopoly money and i 11:31 hope you're buying real hard assets 11:33 because you're going to need them 11:34 when this whole thing comes tumbling 11:36 down 11:38 the average withdrawal between march 11:42 1st and may 1st was 6757.20 11:48 about a third have tapped into another 11:50 investment account 11:51 instead of the retirement account people 11:54 are making withdrawals to cover expenses 11:57 and many are doing this to help with the 12:00 loss 12:01 of a job i you know again there are 12:04 people out there that think that this 12:05 economy is soaring because the stock 12:07 market is moving back 12:09 up although 40 unemployment 12:14 um is a horrific economy we are we are 12:17 looking at depressionary 12:18 type numbers even worse yet there are 12:21 people who believe everything is okay 12:23 because the stock market 12:24 is going up and they don't understand 12:26 that the stock market is an illusion it 12:28 is a ticking time bomb 12:29 and we are all going to pay a severe 12:32 price 12:33 severe consequences because of the 12:35 propping up of these 12:36 markets because of the massive 12:38 quantitative easing the money printing 12:40 the zero percent interest rates the 12:43 corporate buybacks 12:44 uh all the manipulation 12:47 asset values uh you name it 12:51 we're gonna pay a price for all of this 12:54 criminality 12:55 that is taking place just so that a few 12:57 people 12:58 can make money in these markets 13:02 here's another article on cnbc today 13:05 and it's talking about uh how it is 13:07 going to be 13:08 much harder for millions of of americans 13:11 to retire and we have to remember that 13:15 most 13:15 americans do not even have anything 13:19 in retirement there's a great percentage 13:22 of people here in america that have 13:24 absolutely zero zero money 13:27 in retirement and half of this country 13:30 has very 13:31 very little in retirement and most of 13:34 this country doesn't 13:35 have enough to retire on and when you 13:37 take into account inflation 13:40 real inflation which is around 10 a year 13:43 if you're just sitting on cash expecting 13:46 to retire 13:47 on forty or fifty thousand dollars in 13:49 your 401k you are going to get 13:51 obliterated 13:52 the recession is making life even more 13:54 uncertain and more difficult for people 13:56 in their 13:57 in their 50s 60s and 70s another 3.1 14:00 million workers are going to be pushed 14:02 into poverty 14:03 in their retirement many won't get back 14:06 into the labor force 14:08 or it will take too long to get another 14:10 job that means 14:11 they'll draw down on the retirement 14:13 savings they may go into debt 14:15 they will more than likely apply apply 14:17 for social security 14:19 even earlier people who are middle class 14:22 workers right now 14:23 will be poor retirees for the rest 14:27 of their lives another article on cnbc 14:31 it's 14:32 it's trying times for us auto suppliers 14:34 as plants reopen 14:35 the industry needs at least 20 billion 14:38 dollars 14:43 and again this government is going to 14:45 print more money 14:46 uh to continue more bailouts 14:50 and people just believe that this money 14:53 uh is just printed out of thin air that 14:56 it never has to be paid back that it's 14:58 never going to have any effect on 15:00 purchasing power 15:02 that it's never going to have any effect 15:03 on your life but every time you go into 15:05 the grocery store 15:07 every time you look at the price of an 15:09 automobile the price of 15:10 rent the price of health care um while 15:13 you're earning zero percent 15:15 interest on your money at the bank 15:18 take a take a real look at reality and 15:21 please tell me that there's no inflation 15:24 public companies face little risk of 15:25 punishment for taking triple p loans 15:27 legal experts say cnbc today 15:32 again tons of money printing 15:35 [Applause] 15:36 big companies cheating they have the 15:39 resources 15:40 they have the money they have the the 15:42 the legal teams 15:44 to tap into those resources while the 15:46 little guy like 15:47 the little people in downtown palm 15:48 springs the little people in palm desert 15:51 uh the little restaurant owners they 15:53 don't have the tools the resources 15:56 or the money to tap in 15:59 like the big boys do and this this is 16:03 you know like we just have 16:06 i think no idea 16:10 how bad this is going to be look 16:15 i i'm happy that we are starting to see 16:17 parts of the country open up 16:19 but they're not really opening up when 16:22 vegas opens up 16:23 people wearing masks buffets closed 16:26 restaurants close bars close 16:28 fewer tables fewer seats 16:33 means fewer people and 16:36 all this distancing all these rules and 16:38 regulations uh that that's going to go 16:40 you know into uh areas like las vegas 16:44 you know how do the resort towns come 16:46 back from this 16:47 how do they survive how do the 16:49 restaurants survive 16:50 uh we're not gonna really know how 16:53 severe all this is 16:54 until the beginning of fall that's 16:56 that's 16:58 what i truly believe that's that that's 17:00 around the time period i believe we're 17:02 gonna start really seeing 17:04 the damage that's being done right now 17:07 we haven't seen the damage 17:09 yet hedge today dying 17:12 economy and this was a really good 17:16 article 17:18 with rob kiyosaki he says this 17:21 his fear of a dying economy 17:25 has led him to purchase three assets 17:28 gold silver and bitcoin 17:31 says here fed is incompetent next 17:34 bailout trillions 17:35 in pensions hope fading that was a tweet 17:38 by rob kiyosaki 17:40 he endorses bitcoin for one reason it's 17:43 not part of the system 17:45 he noted gold and silver god's money 17:50 his best advice is this get out of 17:53 the system so i'm going to wrap it up 17:56 today but i think 17:57 rob kiyosaki said it best get out of 18:00 the system and look if you're in the 18:02 system if you're in these markets and 18:04 you're making money 18:05 god bless you but i hope that you take 18:07 some of that fiat 18:09 paper monopoly money and buy some gold 18:12 and some silver and even some bitcoin 18:14 to protect yourself now me personally 18:16 i'm not a bitcoin guy i'm not a crypto 18:18 guy 18:19 i'm very old school if you don't hold it 18:21 you don't own it that's why i like cash 18:23 that's why i like gold that's why i like 18:25 silver 18:25 because i can put these assets in 18:27 different physical locations 18:29 and have access to them in a time of 18:32 need in an emergency 18:34 as most of you know i'll be heading out 18:37 to texas 18:38 shortly and i will be putting assets 18:41 gold 18:42 silver cash in that location 18:45 also just as i have in multiple 18:48 locations here in california 18:49 so having the freedom of that 18:52 accessibility 18:54 and being able to spread out the assets 18:56 uh 18:57 gives me a a a feeling of security 19:00 a peace of mind whereas with a crypto 19:04 if this if the power goes out if the 19:07 internet goes out 19:08 if there's a cyber attack if there's an 19:10 emp if there's a hack 19:12 there's a lot of things that can happen 19:15 where i don't have control 19:18 whereas if i can drive to one of my 19:21 california locations 19:23 or if i can get on a plane or drive to 19:25 texas i 19:26 have assets there so just having that 19:29 peace of mind 19:30 of having that physical ability to touch 19:34 those 19:35 assets gives me personally 19:38 a very secure feeling but that's just me 19:42 i don't give financial advice i'm not 19:44 telling anybody what to do that's just 19:45 me if you believe 19:47 wholeheartedly in the cryptos more power 19:50 to you i'm not here to judge anybody or 19:52 tell you what to do 19:53 uh and i'm certainly not against the 19:54 cryptos i think they have their place 19:57 but i'm very old school if you don't 19:58 hold it you don't own it that's why i 20:01 don't like 20:01 banks because when you need 20:04 your money you're not going to be able 20:07 to access it 20:08 just like when you need to access a 401k 20:12 or a money market there's these huge 20:13 penalties or 20:15 if things get really bad they have to 20:17 shut everything down 20:19 until everything levels out everything 20:22 cools down 20:22 before they even allow access that 20:24 happened back in 2008 where people 20:26 couldn't access 20:27 their money because things were so out 20:30 of control that they just shut 20:31 everything down for 20:32 a short period of time atms out here 20:36 shut down 20:36 i've seen banks out here shut down so 20:38 when you're reliant 20:40 on a financial institution whether 20:42 that's a bank or an atm 20:44 or your 401k uh your money market or 20:47 whatever financial institution you're in 20:49 um you don't have the ability to just 20:52 walk over somewhere 20:53 drive over somewhere and get your money 20:55 i do 20:56 and i like that feeling because i'm my 20:58 own central 20:59 bank so i don't plan on being locked out 21:02 of a 401k because i don't have one 21:04 i don't have to worry about getting 21:05 locked out of an atm 21:07 or a bank uh because i'm my own central 21:09 bank 21:10 and that's just me and that gives me a 21:13 real 21:13 good piece of mind so 21:16 the farther and more detached you get 21:18 out of the system 21:20 the more you act as your own central 21:22 bank the more power 21:24 you have the more control you have and 21:27 the less 21:27 power and less control these financial 21:30 institutions and these banks have 21:32 over you please pray for this country 21:35 this economy is decaying and it's going 21:38 to affect 21:39 the lives of millions of people many 21:41 people you know 21:42 and i know we're seeing an uptick in 21:45 suicide 21:47 alcoholism drug use crime 21:51 domestic abuse divorce 21:54 etc these are going to be very 21:58 turbulent times in america and 22:02 we all have a fiduciary duty a 22:04 responsibility to 22:05 to to be checking on our friends and in 22:08 our family members look a text message 22:11 and a phone call 22:12 call goes a long way so make sure you 22:14 reach out 22:15 to your friends your family members 22:17 because you know 22:19 we don't really know what's going on 22:20 behind closed doors we don't know how 22:22 bad things 22:23 really are and and so it's just good to 22:26 check on people 22:27 because this is really going to be 22:31 a hard time uh for a lot of people here 22:34 in america so make sure you check in on 22:36 your friends and family members 22:38 and um please make sure that 22:41 you um give this video a thumbs up share 22:44 it with everybody you know you don't 22:45 know put it all over your social media 22:47 and please make sure you subscribe to 22:49 this channel so that you get the newest 22:51 video when it comes out god bless all of 22:54 you 22:55 thanks for taking a few minutes out of 22:56 your busy day today to watch this video 22:59 god bless every one of you talk to you 23:00 very soon English (auto-generated)