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Date Posted: 12:33:05 12/30/22 Fri
Author: Jasper
Subject: Kunstler does a 2023 forecast

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Financialization led to the current inflation in our debt-based money system. More borrowing becomes more money going into existence, chasing a declining amount of goods as production falls off and supply lines choke. Services also suffer. People can’t afford to eat out, get acupuncture, visit hair-dressers. When the inflation is bad enough, say more than ten percent annually, it will cause enough economic damage to provoke a big contraction in activity, bringing on a deluge of loan defaults on mortgages, car payments, and corporate obligations. Loan defaults cause money to disappear from the system. This flips inflation into deflation. The bond-market is blowing up as this occurs, because bonds are debts and they’re not being serviced or paid-off. The imploding bond market infects the stock markets and they crash, too.

Before long, nobody has money, except people who invested in gold and silver. Prediction: the change-over from inflation to deflation comes in summer of 2023 and gathers momentum into the fall. It leads to economic conditions worse than the Great Depression of the 1930s because our social and family arrangements have disintegrated along with our towns and cities. Civil disorder ignites. The government attempts lockdowns, this time without a disease to blame it on. It’s no longer safe to be a politician.

https://kunstler.com/clusterfuck-nation/forecast-2023-get-out-of-the-way-if-you-cant-lend-a-hand/

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