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We Are in a Recession Already! Forget the Yield Curve. by maneco64

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market · @maneco64 · (edited)
$9.28
We Are in a Recession Already! Forget the Yield Curve.
<center><a href='https://d.tube/#!/v/maneco64/5zhdnpy3'><img src='https://ipfs.io/ipfs/QmeJjQVw9FnpEfu36rUcvumRWf4uf7y4h31RLCgKvAPH8d'></a></center><hr>

In this report I cover the early market action from London on Thursday, June 28th, 2018. I look briefly at the precious metals, the stock market, the dollar and the oil price.

I also explain how GDP or gross domestic product is calculated and note that the formula includes government spending. If like me, you  do not consider government spending wealth creation, then it does not make sense that G.D.P. is composed of government spending. As we all know government extracts wealth through taxation from the productive private sector ansd does not create any wealth.

The major conclusion I make is that the G.D.P. growth figures we get from countries like the U.S. and the U.K. have been distorted in the last ten years by government budget deficits of over 3% at least and what that means is that if G.D.P. grows by 1.5% or 2% the actual growth is negative as government has spent 3% or more of the economy.

Recently a Trump economic advisor said G.D.P. will be growing by 4% soon but he did not tell you the deficit will be growing by 5% plus!

My take is that people should keep an eye on oil prices as it is rising in all major and minor fiat currencies and that it is this phenomenon will make our current economic recession even more severe and probably turn into a depression.

<hr><a href='https://d.tube/#!/v/maneco64/5zhdnpy3'> ▶️ DTube</a><br /><a href='https://ipfs.io/ipfs/QmaoFeBpLDRh8AopqcF2ZccqiNnnW67mct2z7V5mJayD8t'> ▶️ IPFS</a>
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vote details (57)
@aiyub99 ·
dw9y17twb
GDP is very important and he shows economic growth. It takes a lot of government efforts to increase GDP. Thanks for your good review
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@jayem · (edited)
Isn't the USD going up because all other countries have to buy more petro dollar for the more expensive oil?
For those who want an idea as to how the US economy has done over the last decade, and  what Maneco is talking about here, should go listen to Greg Hunter's recent interview with John Williams on USAwatchdog.com. John is a master  bean counter that just tells you what the real numbers are, and technically how we may be able to get out of the problems. But at the same time, John suggest no political rhetoric or opinion what so ever, you can see that in the interview. We can see that he struggles to stay neutral as Greg eggs him on. Thanks for your great video here as well maneco, we all need to help others do their homework by comparing notes.
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@ktb1964 ·
4yutuaqnm
The elites knew this was going to happen  -- do you think that they thought that the fiat system could last forever???  Of course they know, I think that now that everyone in the west is in debt up to the eyeballs (like the global elites wanted) and most people in west do not own precious metals, it is the perfect time to collapse this fiat system and go to back to "sound money" with some kind of gold backing.  How could anyone object to this - right?  So the economy shrinks and people and business's go bankrupt and this is great for the vultures to come in and buy everything up cheap.  The key will be those that have access to credit and those that don't.
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@markkujantunen · 
<blockquote>
As we all know government extracts wealth through taxation from the productive private sector ansd does not create any wealth.
</blockquote>

That view is too extreme, in my opinion. What are public goods if not wealth?
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@maneco64 · (edited)
These so-called public goods you mention only exist because the government  confiscates private goods by force or taxation in the first place.
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@markkujantunen · (edited)
Yes, of course. But that is beside the point which is that they are wealth.
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@steyn · 
have a nice day
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@sujonxr · 
Good update sir.
Thanks for sharing.
👍  
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vote details (1)
@techxegama · 
The oil price will make a difference in many difference as a economy prespective.
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@timuann · 
really very good update of market you showing in your blog.. I like videos and love to watch and comment on your videos, because you are very quick to respond to a comment that I give, so I always give you support. thank you for sharing knowledge.sir @maneco64
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