The world has entered a geopolitical depression, writes Dr. Nouriel Roubini, pointing at severe megathreats that spell dark days ahead. This new era will resemble the tumultuous decades between 1914 and 1945, as the U.S. economic, financial and security unipolar world is challenged by four powers – China, Russia, Iran and North Korea.
“There is a sharply rising risk not only of war among great powers but of a nuclear conflict,” the professor of economics at Stern School of Business states in a recent article at Project Syndicate: “Geopolitical conflicts and national-security concerns are fueling trade-, financial-, and technology wars, and accelerating the deglobalization process. The return of protectionism and the Sino-American decoupling will leave the global economy, supply chains, and markets more balkanized and fragmented. The buzzwords ‘friend-shoring’ and ‘secure and fair trade’ have replaced ‘offshoring’ and ‘free trade.’” In addition, Roubini notes, “energy security” has quickly replaced non-financial factors such as “net-zero” and ESG “greenwishing.”
Dr. Roubini, the man who foresaw the 2007 housing market crisis long before others, has warned of stagflation for almost two years due to the current mix of loose monetary, credit and fiscal policies. Dr. Roubini’s new book, “Megathreats,” predicts a decade of world depression in which the regular workers will suffer the most and inequality will rise globally. We are up for the worst debt crisis the world has ever seen and a possible hard-landing scenario.
High inflation primarily driven by extreme energy cost and steep recession now threaten macroeconomics. The shock of the COVID-19 lockdowns and economic shutdowns have spectacularly halted economic growth, plunged governments into serious debt, crippled the supply of goods through the bottlenecks in global supply chains – and everything made much worse by the China’s zero- COVID policy. Meanwhile, the globalist billionaire class’ fortunes have – predictably enough – skyrocketed.
When facing Russia’s invasion of Ukraine, European leaders have been incomprehensibly shortsighted and forthright suicidal in pushing to implement sanctions against the very source of energy upon which they depend. Europe has chosen to cripple itself. These leaders needed not even one day to reflect upon how sanctions would affect Europe. As quickly as the day after the Russian invasion of Ukraine, they rushed to implement them.
It is not given who the weaponization of the U.S. dollar – using the American reserve currency status to punish Russia through sanctions – will hurt the most. It certainly has accelerated the speed in which non-Western nations are resorting to local currencies, turning away from politically weaponized Western institutions. The trust in Western banks where one’s money was considered safe, the SWIFT system and other before deemed reliable sources for economic stability, is plunging. The world protest against the American hegemony is painstakingly illustrated by the 85% of the global population refusing to sanction Russia. Russia, on the other hand, is swimming in money from the skyrocketing energy prices, its 2022 energy export revenues predicted to be 337.5 billion USD, around 40% more than 2021. In short, Europe is financing Russia’s Ukraine war.
The Ukraine operation has brutally demonstrated that Europe’s bureaucratic leaders are weaker than ever, serving American interests even if it plunges Europe into oblivion. America’s neoconservative mission in the post-Cold War era has been to ensure that no rival superpower is allowed to emerge in Western Europe, Asia or in the former Soviet Union. This according to the Pentagon’s plan: “Prevent the Re-Emergence of a New Rival.” One may certainly say that the strategy has succeeded.
Germany and Europe are now being forced into a depression and a de-industrialization as a result of the sanctions the Americans have told them to impose on Russia, writes Dr. Michael Hudson, president of The Institute for the Study of Long-Term Economic Trends (ISLET).
Germany suffers the most. It has been Europe’s most advanced industrial economy, its steel, chemicals and car industry depending on import of Russian commodities, oil and gas, Dr. Hudson points out.
The Nord Stream pipelines were built in order to provide cheap energy to its vast industries. Yet, Germany has been told by the Americans to cut itself off from Russian natural resources, de-industrialize and pay three times as much for American LNG. This means the end of Germany’s economic preeminence. This happens while the United States is freely importing oil from Russia via Italy, as it is exempt from the very same sanctions imposed on Russian oil and natural resources in Europe, Hudson adds.
Soon defaulted mortgages and excess debt will produce a landslide in private property ownership loss. This is truly going to be a horrible scenario – causing soaring profits and buying opportunities for the billionaire class – again.
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Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
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