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Jim Thorne, Chief Market Strategist of Wellington-Altus Private Wealth, explains why the global economy is headed towards a “perilous financial collapse” and what’s next for markets, investors, and consumers.
*This video was recorded on April 11, 2024
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*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
0:00 – Intro
1:02 – “Perilous Financial Collapse”
7:25 – Oil and inflation
10:36 – Debt and deficit
13:07 – Trigger for financial collapse
18:00 – “Economic mirage”
20:55 – Cost-push theory of inflation
25:15 – Canadians are economically “hopeless”
33:00 – Market outlook
36:30 – Interest rate outlook
38:50 – Gold and Bitcoin
41:00 – Residential real estate
#stocks #bitcoin #economy…(read more)
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In the midst of economic uncertainty, financial expert Jim Thorne has warned that the global economy is on the brink of a “perilous financial collapse.” Thorne, who has been a vocal critic of the current financial system, argues that the current state of the economy is nothing more than a “mirage” that is propped up by unsustainable levels of debt and speculation.
Thorne’s warning comes at a time when many economies around the world are struggling to cope with the fallout from the COVID-19 pandemic. Governments have been forced to implement drastic measures to contain the spread of the virus, leading to widespread job losses, business closures, and a sharp decline in economic activity. In response, central banks have ramped up their quantitative easing programs and slashed interest rates to historic lows in an effort to stimulate the economy.
However, Thorne believes that these measures are only masking the underlying problems in the economy and could ultimately lead to a financial crisis of epic proportions. He points to the massive levels of debt that have been accumulated by governments, corporations, and individuals as a major cause for concern. With interest rates at record lows, Thorne warns that the cost of servicing this debt could become unsustainable, leading to a wave of defaults and bankruptcies.
Thorne also highlights the role of speculation in driving up asset prices to unsustainable levels. He points to the recent boom in the stock market, which has seen shares of many companies reach dizzying heights, as evidence of the disconnect between financial markets and the real economy. Thorne argues that this speculative bubble is due to burst, leading to a sharp correction in asset prices and further destabilizing the economy.
In light of these developments, Thorne is urging governments and central banks to take immediate action to address the underlying vulnerabilities in the economy. He is calling for a return to sound monetary and fiscal policies that prioritize long-term stability over short-term gains. Thorne also argues for a more sustainable approach to economic growth that focuses on investing in productive sectors of the economy rather than relying on debt-fueled speculation.
Ultimately, Thorne’s warning serves as a wakeup call for policymakers and investors alike. The current economic mirage is unsustainable and could collapse at any moment, leading to widespread financial turmoil. It is essential that immediate action is taken to address the root causes of the problem and prevent a full-blown financial crisis. Only by being proactive and decisive can we hope to avert disaster and build a more stable and resilient economy for the future.
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Are the positive economic indicators just a "mirage"? Are we headed for a crisis? What do we do with our investments? Comment your thoughts below and don't forget to "like" and subscribe!
FOLLOW JIM THORNE:
Wellington-Altus Private Counsel: https://wellington-altus.ca/private-counsel/
Twitter (@DrJStrategy): https://twitter.com/DrJStrategy
“Right”
There will be no protection
this was a great guest
We are already in a recession.
Inflation is already way higher than the retail spending increase, meaning that the only reason retail spending is positive is because of inflation.
If inflation is 4% and you get a 1% raise at work it means you are falling behind.
If retail sales were up 0.7% in march but inflation was 4% it means retail sales were down if you subtract the portion created by inflation.
Americans aren't (historically) used to high inflation, so it's harder for people to make sense of economics in this environment. People's feelings are actually more accurate than any government report.
You feel like we're in a recession? Because we are
Canada and the US are governed and educated by radical leftists. That tells you what the future holds.
Invest and live accordingly.
Nah, I am confident that the system will run for another 2-3 decades before they decide to let it all go to hell and dive off into their underground bases.
The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
My theory is because they let these hedge funds naked short small cap stocks to extreme levels. Crime of the century and Janet yellen knows about it.
This guy should say “right?”more because saying 1000 times in ten minutes isn’t enough.
Immigration does not help the economy if they land on our social services and with hostility refuse to integrate.
The pendulum swings in opposite directions at equal velocity!
Every time the government spends a dollar, value is crushed out of existence. The growth of government is of course the source of the fall in the standard of living.
They will keep printing and keep things going. They’ve been doing this for over a hundred years. And they will do it for another 100.