🔥 Banks Are Shutting Down Fast
Banks closed 539 local branches across the country in the first half of the year - leaving more and more Americans without access to basic financial services
If this rate continues for the rest of 2024, it will mean more than 1,000 branches wipe from malls, and town or city centers
▪️Bank of America closed the most branches, a total of 90 in just six months
▪️Wells Fargo shut down 62 banks
▪️Chase shut down 53 banks
▪️TD Bank shut down 52 banks
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Banks closed 539 local branches across the country in the first half of the year - leaving more and more Americans without access to basic financial services
If this rate continues for the rest of 2024, it will mean more than 1,000 branches wipe from malls, and town or city centers
▪️Bank of America closed the most branches, a total of 90 in just six months
▪️Wells Fargo shut down 62 banks
▪️Chase shut down 53 banks
▪️TD Bank shut down 52 banks
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💥 Warren Buffett Prepares For A $55 Trillion Storm In The Stock Market
Warren Buffett, known for his smart investments, is causing a stir by not buying stocks and instead hoarding a massive $189 billion in cash, leading many to worry he’s bracing for a market disaster. Buffett’s recent move of selling off a huge chunk of Apple stock—once a cornerstone of his portfolio—has experts on edge, hinting that a major market crash could be on the horizon. His silence and massive cash reserve have sparked speculation that he’s expecting a dramatic 40% drop in the stock market, making everyone wonder if he knows something big that we don’t.
Warren Buffet Dumping 55% Of His Apple Stock
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Warren Buffett, known for his smart investments, is causing a stir by not buying stocks and instead hoarding a massive $189 billion in cash, leading many to worry he’s bracing for a market disaster. Buffett’s recent move of selling off a huge chunk of Apple stock—once a cornerstone of his portfolio—has experts on edge, hinting that a major market crash could be on the horizon. His silence and massive cash reserve have sparked speculation that he’s expecting a dramatic 40% drop in the stock market, making everyone wonder if he knows something big that we don’t.
Warren Buffet Dumping 55% Of His Apple Stock
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💥 Is The U.S. Losing Its Scientific Edge? Alarming Warning From Top Scientist
In a groundbreaking speech, National Academy of Sciences president Marcia McNutt warned that the U.S. is losing its position as a global leader in science, with China quickly catching up. This decline, she said, threatens not only the economy but also national security. McNutt highlighted how the U.S. once dominated the world in science by investing heavily in research and innovation but has since slipped due to reduced funding and lack of coordination. She called for urgent action, including improving STEM education and developing a national research strategy, to prevent further decline and reclaim America's scientific leadership.
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In a groundbreaking speech, National Academy of Sciences president Marcia McNutt warned that the U.S. is losing its position as a global leader in science, with China quickly catching up. This decline, she said, threatens not only the economy but also national security. McNutt highlighted how the U.S. once dominated the world in science by investing heavily in research and innovation but has since slipped due to reduced funding and lack of coordination. She called for urgent action, including improving STEM education and developing a national research strategy, to prevent further decline and reclaim America's scientific leadership.
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💥 The U.S. Has More Millionaires Than Ireland’s Entire Population
The world now has 15 million millionaires, more than the population of Rwanda. The U.S. leads with nearly 5.5 million millionaires, outnumbering Ireland's entire population. In just 10 years, U.S. millionaires have surged by 62%, holding over a third of the global millionaire total. China and Germany also have impressive numbers, with China having 860,000 millionaires and Germany just over 800,000. Surprisingly, Switzerland's millionaire count of 428,000 is more than Iceland’s population, showing just how wealthy this tiny country is compared to its size.
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The world now has 15 million millionaires, more than the population of Rwanda. The U.S. leads with nearly 5.5 million millionaires, outnumbering Ireland's entire population. In just 10 years, U.S. millionaires have surged by 62%, holding over a third of the global millionaire total. China and Germany also have impressive numbers, with China having 860,000 millionaires and Germany just over 800,000. Surprisingly, Switzerland's millionaire count of 428,000 is more than Iceland’s population, showing just how wealthy this tiny country is compared to its size.
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🔥 Warren Buffet Owns More Treasuries Than The Fed
Warren Buffett’s Berkshire Hathaway just made headlines with its huge investment in U.S. Treasury bills, surpassing even the Federal Reserve’s holdings. In the first half of the year, Berkshire scooped up $230 billion in these low-risk, short-term securities, making it a major player in this investment arena. Despite his usual big bets on stocks, Buffett’s recent move into Treasury bills, coupled with selling off billions in Apple and other stocks, has boosted his company’s cash reserves to a staggering $277 billion. This surprising shift highlights Buffett’s confidence in these safe investments amid uncertain market conditions.
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Warren Buffett’s Berkshire Hathaway just made headlines with its huge investment in U.S. Treasury bills, surpassing even the Federal Reserve’s holdings. In the first half of the year, Berkshire scooped up $230 billion in these low-risk, short-term securities, making it a major player in this investment arena. Despite his usual big bets on stocks, Buffett’s recent move into Treasury bills, coupled with selling off billions in Apple and other stocks, has boosted his company’s cash reserves to a staggering $277 billion. This surprising shift highlights Buffett’s confidence in these safe investments amid uncertain market conditions.
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BREAKING: Warren Buffett sold another $981 million in Bank of America shares.
U.S. money supply shrinking is a sign of recession
▪️ From $21.65 trillion in July 2021 to $21.02 trillion this July, America's M2 monetary aggregate has shrunk - a sign of an imminent recession, states John Hopkins Institute founder Steve Hanke.
▪️ "The fuel of the economy is the money supply. And it is less in the U.S. now than it will be in July 2021. This situation has happened only four times in the history of the Fed since 1913, and each time it has been followed by a recession or, as in the case of 1929 and 1933, a depression. ... So I think we will enter a recession either this year or early next year," Hanke said.
▪️ Another factor in the approaching recession is a sharp jump in unemployment to 4.3% in July. The decline in regular household income is leading to a significant drop in demand in the economy. Together with this, retail sales and activity in the construction sector are slowing down," emphasized Steve Hanke.
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▪️ From $21.65 trillion in July 2021 to $21.02 trillion this July, America's M2 monetary aggregate has shrunk - a sign of an imminent recession, states John Hopkins Institute founder Steve Hanke.
▪️ "The fuel of the economy is the money supply. And it is less in the U.S. now than it will be in July 2021. This situation has happened only four times in the history of the Fed since 1913, and each time it has been followed by a recession or, as in the case of 1929 and 1933, a depression. ... So I think we will enter a recession either this year or early next year," Hanke said.
▪️ Another factor in the approaching recession is a sharp jump in unemployment to 4.3% in July. The decline in regular household income is leading to a significant drop in demand in the economy. Together with this, retail sales and activity in the construction sector are slowing down," emphasized Steve Hanke.
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🔥 U.S. government debt is far more dangerous than climate change - The Washington Times
▪️ The Congressional Budget Office has said America's rapidly rising federal debt will shrink the U.S. economy by 3.2% over 30 years, while climate change will undermine it by 1%, states The Washington Times
▪️ $35 trillion surpassed America's federal debt at the end of last month. 28 trillion dollars of the debt is held by investors, the rest is domestic government debt
▪️ The problem with debt is that it crowds out other investments and ties up a significant portion of the federal budget with interest payments instead of productive spending on programs like transportation infrastructure or energy
▪️ "As federal borrowing increases, the amount of money available for private investment will shrink and interest costs will increase. Ever-increasing debt will also increase the likelihood of a fiscal crisis and pose other risks to the U.S. economy," the Budget Office said
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▪️ The Congressional Budget Office has said America's rapidly rising federal debt will shrink the U.S. economy by 3.2% over 30 years, while climate change will undermine it by 1%, states The Washington Times
▪️ $35 trillion surpassed America's federal debt at the end of last month. 28 trillion dollars of the debt is held by investors, the rest is domestic government debt
▪️ The problem with debt is that it crowds out other investments and ties up a significant portion of the federal budget with interest payments instead of productive spending on programs like transportation infrastructure or energy
▪️ "As federal borrowing increases, the amount of money available for private investment will shrink and interest costs will increase. Ever-increasing debt will also increase the likelihood of a fiscal crisis and pose other risks to the U.S. economy," the Budget Office said
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🔥 Worse than 2008 Great Financial Crisis
What’s worse than an all-out financial collapse? There is something worse than an all-out collapse hitting America and the world, and it is worsening by the day.
It’s inflation. Typically, inflation is contained in one country or a group of closely intertwined nations. Normally, we don’t see inflation coupled with so many external forces coming together in a perfect storm- pandemics, lockdowns, an energy crisis, supply chain disruptions, and so forth. This isn’t the first global inflationary crisis, but it is the first with these modern fiscal controls, exchanges, and an intricately woven global supply chain. The inflation we are about to see worldwide is unique, and even expert economists readily confess they have seen nothing like it and cannot accurately say where or how it will end.
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What’s worse than an all-out financial collapse? There is something worse than an all-out collapse hitting America and the world, and it is worsening by the day.
It’s inflation. Typically, inflation is contained in one country or a group of closely intertwined nations. Normally, we don’t see inflation coupled with so many external forces coming together in a perfect storm- pandemics, lockdowns, an energy crisis, supply chain disruptions, and so forth. This isn’t the first global inflationary crisis, but it is the first with these modern fiscal controls, exchanges, and an intricately woven global supply chain. The inflation we are about to see worldwide is unique, and even expert economists readily confess they have seen nothing like it and cannot accurately say where or how it will end.
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