Zero Hedge: The optimists see our current time as one of intermission – a pause, followed by a renewal of the show from wherever exactly it left off.
Is this realistic? Tens of millions have been laid off or furloughed – will the businesses and industries they worked for be there when the intermission is over?
In just a few short months, the tally of business casualties is stunning.
Yet, meanwhile, the “true” condition of the “intermission” economy is utterly obscure. Read More …
Opinion:’ There are a lot of Donald Trump haters that have an interest in keeping the intermission economy going.
Vote by mail = Democrats forever.
But a lot of economic mistakes have been made. The Trump economic team borrowed policy from the Obama economic team and brought quantitative easing (money printing/bond buying) to nose-bleed levels.
QE = a debased currency..
We know that $6.8 trillion QE came on the first round in March, but since then the Federal Reserve has promised to backstop: the Corporate and Municipal Bond markets, the money market, and has even started buying baskets of stocks called ETF’s in untold quantities.
Is Europe worse?
The European Central Bank (ECB) under its director Christine Lagarde took criticism for its initial response to the Covid-19 pandemic. In March a large new bail-out package by EU standards, €750 billion quantitative easing (QE) was introduced.
Since then the ECB, like its counterparts the Federal Reserve and Bank of Japan, have pledged to do (print) ‘what ever it takes’ until a challenge by Germany’s high court ruled quantitative easing illegal under German law.
The European Central Bank has 3 months to clarify the bond-buying scheme to prove that it is “proportionate” support for the eurozone economy or else Germany’s Bundesbank may no longer participate.
If that happens, economically weak EU nations like Portugal, Italy, Ireland, Greece, and Spain would see their borrowing costs rise out of control. The ECB would then be powerless to buy those nations bonds, leading to a likely default on their debt.
Here is where it gets interesting from a prophetic view:
“And the fourth kingdom shall be as strong as iron, inasmuch as iron breaks in pieces and shatters everything; and like iron that crushes, that kingdom will break in pieces and crush all the others. 41 Whereas you saw the feet and toes, partly of potter’s clay and partly of iron, the kingdom shall be divided; yet the strength of the iron shall be in it, just as you saw the iron mixed with ceramic clay. 42 And as the toes of the feet were partly of iron and partly of clay, so the kingdom shall be partly strong and partly fragile.”
In Daniel 2:40-42 the prophet saw a vision of a giant statue representing four great Empires.
The 4th empire Rome is followed by Rome II or revived Rome, and prophesied in Revelation 17:10 to be the final world kingdom.
Daniel’s prophecy is playing out today with perfect accuracy as the economically strong northern EU nations (iron) dominate over the economically weak southern nations (clay).
Prophecy in real time.