All Of The Elements Are In Place For An Economic Crisis Of Staggering Proportions

2.21.24 - No soft landing

Gold last traded at $2,026 an ounce. Silver at $22.89 an ounce.

All Of The Elements Are In Place For An Economic Crisis Of Staggering Proportions -The Economic Collapse

Several sources - for several months - have suggested a crash is coming in 2024; but why now? The Fed can no longer contain the debt or bolster the economy with free money. The day of reckoning, for four years of reckless spending, may be nigh.

They were able to delay the U.S. economy's day of reckoning, but they were not able to put it off indefinitely. During the pandemic, the Federal Reserve pumped trillions of dollars into the financial system and our politicians borrowed and spent trillions of dollars that we did not have. All of that money caused quite a bit of inflation, but it also created a "sugar rush" for the economy. In other words, economic conditions were substantially better than they would have been otherwise. Unfortunately, there will be a great price to be paid for such short-term thinking. From the federal government on down, our entire society is absolutely drowning in debt, and now it appears that our economic problems are about to go to the next level.

In early 2024, there are all sorts of signs that economic activity in the U.S. is really starting to slow down.

For example, we just learned that consumer spending "fell sharply" during the month of January...

Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday