| By Bill Bonner SAN MARTIN, ARGENTINA – We read the news. We are appalled. Yesterday, we saw that, soon, it may not be only Blacks who want to set fire to police stations. Since the bottom of the Crisis of ’08-’09, the 20% of the population at the bottom of the heap – largely young and/or Black – has lost 25% of its wealth. The next and biggest group, those with more than the bottom 20% but less than the top 40%, are essentially even. That is, they hit bottom in March ’09… and never recovered. That makes 60% of the population worse off than it was in 2007. Meanwhile, the top 1% has seen an increase in its wealth of nearly 150%. Were these developments just the free market at work? Did they “just happen”? Is this “okay”? | Recommended Link | | RUSH alert (buy) Time is of the essence… Jeff Brown just released his #1 "Penny IPO" for 2020… These are tiny explosive tech stocks. In fact, recently, another "Penny IPO" skyrocketed 239% – in just 3 hours! There's not a minute to lose. Because Jeff's #1 Penny IPO is just days away from hitting a huge catalyst… And could soon skyrocket to $48 a share… The time to buy is NOW. | | | -- | Counterfeit Economy According to press reports, poor George Floyd was handcuffed… and then killed… because he tried to pass a $20 bill that was counterfeit. On that same day – as on every day for the past three months – the Federal Reserve has passed out $1.5 billion worth of them. And now, fueled by the pure oxygen of $3 trillion in new counterfeit money, the S&P 500 has been boosted back up over 3,000. Meanwhile, the U.S. economy in which Mr. Floyd tried to make a living has been struggling for air. The Fed’s giveaways to Wall Street – including its artificially low interest rates – discouraged saving and stifled the kind of real business investment that might have created good-paying jobs. Instead, corporate boards decided to borrow… pay themselves bonuses… and buy their own shares to jack up their prices. Often, in times of war, counterfeiters will print up billions in fake currency, to try to destroy the enemy’s economy and promote civil unrest. Now, we do it to ourselves. In short, the feds are operating the biggest, most destructive counterfeiting ring in all of history. But there have been no arrests. No perp walks. No trials. No demonstrations. No window breaking and no looting. Strange Activity Detected In Secretive Layer Of Stock Market. The average man knows nothing about it. And who would tell him? Wall Street? The president? The Fed? The press? Instead, he is told that the geniuses at the Fed are doing their best to “stimulate” the economy. And both sides – Democrat and Republican… The New York Times and Fox News… support the counterfeiting rip-off. They want to keep it going as long as possible. And for the moment, the feds can pass out trillions of dollars… to their crony friends and to the voters… with no apparent downside. Get it while you can. | Recommended Link | | 5G is Worthless UNLESS Tiny Company Steps in to Save it 5G phones cost a staggering $1,300. If you plan on buying one anytime soon… here's some news for you. It's a worthless investment. 5G won't work unless this one tiny company steps in with its miraculous solution to save it. That's according to E.B. Tucker. He's a serial tech investor who made 13,000% in just 12 months – on one tech trade. E.B. believes the tiny company that'll save 5G is the biggest stock market story for 2020. | | | -- | Lost Decade Ahead Our guess is that they are going to pass out a lot more. Here’s CNN with a report on a “lost decade” ahead: The CBO [Congressional Budget Office] warns in a new analysis that the pandemic will reduce cumulative economic output over the next 10 years by $7.9 trillion, or 3% of GDP during the decade, compared to its projections from January. Without accounting for inflation, the damage totals $15.7 trillion, or 5.3% of GDP. Recent legislation, which includes more than $2 trillion in stimulus, will only partially mitigate the economic fallout caused by the pandemic, the CBO said. Lost decade? What can the feds do, but print up some more money? And who will suffer most? Guess what… the same people the feds have been ripping off for the last 10-20 years! The young, the poor, the uneducated. The George Floyds of America. The Washington Post looks at just one segment: After accounting for the present crisis, the average millennial has experienced slower economic growth since entering the workforce than any other generation in U.S. history. Millennials will bear these economic scars the rest of their lives, in the form of lower earnings, lower wealth and delayed milestones, such as homeownership. Naturally, the Post has no idea what is really going on and no interest in finding out why. It merely observes that young people are getting screwed. “The unluckiest generation,” it calls them. They have more debt than any previous generation (not even including their share of the “national” debt). This top financial expert just returned from a private meeting with members of the Senate Financial Services Committee… They have fewer good jobs… lower earnings… and are unlikely to ever catch up to their parents, in terms of wealth. They are the ones most damaged by the COVID-19 shutdown… because they were among the 60% of the population that never recovered from the ’08-’09 crisis. And they tended to be in the “gig” or service sectors… where revenues evaporated almost overnight. They were locked down at the most important time in their lives – when they were just starting businesses, careers, and families. And this was despite the fact that they were never really at risk from the virus. And now, they’re locked up again… among the 60 million Americans under curfews. Not Just Bad Luck But it’s not just a matter of bad luck. Millennials, Blacks, Whites, the middle classes, as well as the poor – all have been cheated in a way the Post doesn’t even begin to understand. So, we’ll spell it out: The counterfeit dollars – given out by the central banks – go mostly to older, richer people who own financial assets. Young people, Blacks, and less-educated people typically don’t own stocks, bonds, or real estate. They sell their time. By the hour. And the real hourly rate has scarcely changed since 1975. The rich get richer. The poor and middle classes get poorer. And just wait. Now, the feds are “printing” money like never before. Expect more corruption, more dependence, more unfairness, and (sooner or later) runaway inflation, depression, riots, (maybe “civil” war)… poverty, chaos… …the victims will put up a fight… the feds will get tough… …and then, the knee will be on all of our throats… Stay tuned… Regards, Bill
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FEATURED READS Now’s Not the Time to Buy Stocks Casey Research analyst John Pangere agrees with Tom’s Dyson’s current conclusion: Buying stocks in the current market climate is not in your best financial interest. Cheap, he says, will get cheaper... MAILBAG Strong words for Bill regarding COVID-19 after Monday’s Diary, “The Big COVID-19 Scam”... I believe your assessment of this COVID response by the government is way off. It’s your right-wing, “defend the economy at all costs and hell with a few old people” that is utterly unAmerican and disgraceful. If the feds had not responded the way they did and millions of people died, everyone would be screaming “Murder!” Including you. No one knows how COVID is going to turn out. No one knows if COVID will be a Trojan horse, being introduced to a population, killing the weak and old first, lying dormant for a while, and then hitting the general population much harder. One thing is for sure. The scientists are only scratching the surface of this virus. It is multisystemic and not purely respiratory. Your views will not help stop the spread of COVID. You are only going to divide the country even more. Lives are more important than the economy. Try to wrap your mind around that. It does not matter how well your stocks are doing if you are dead. – Ronan C. You’re ridiculous. Taiwan immediately closed airports to incoming non-citizens. They tested everyone. They did contact tracing. Anyone who tested positive or had been exposed to someone who tested positive was quarantined, while everyone else went on with their work and personal lives. They had proportionately few cases and few deaths and they didn’t close down their economy. Why? Because they had the good sense to act quickly. Trump dithered trying to underrate the seriousness. He refused to use testing kits that were in established use throughout the world. He preferred to use his time blabbing about hoaxes, including “treatments” he regarded as panaceas. That throw-away group you’re talking about makes up a great deal of our national elected leaders. Want to replace them with a whole crop of 35 and under? You always see things as your mentor Ayn Rand would. That puts you in a very small and very selfish group. – Dianne K. You keep writing the same position over and over without anybody disagreeing with you. Let me be the first. This is not about how many people died or will die; this is about how to handle the people infected. You downplay the numbers of people who already died from this virus. This virus “only affects old and sick people,” you said. Some doctors and scientists will agree with you, others not. “More people die every year from heart disease, cancer, and car accidents,” you also said. And that is true. But here is where everything changes: This COVID virus is new, we didn’t know anything about it, and still we are learning. There is no vaccine and we didn’t know how to treat it. And because of this, we didn’t know how many people would get infected at the same time and how we could handle it in the hospitals. In the case of COVID, you saw how all the hospitals were overcrowded, especially in New York, where I live. You saw how the doctors, nurses, and staff had to work shifts of 16 hours or more just to cover the minimum needs of all patients. The social distancing, the lockdown, the masks, etc., all were focused on slowing down the masses of infected people who overcrowded all of our hospitals. When you die, most of the time you die in the hospital, getting treatment, using the health care system. So again, this is not about the death rate. It never was. This has always been about avoiding crashing the health care system. – Francisco C. When was the last time a virus knocked down a medical system so hard that bodies piled up in trucks on the streets in New York, Italy, China, etc.? Why are children around the world ailing with Kawasaki Disease symptoms like vein inflammation if the virus is so “non threatening” to all but the old? It ain’t Ebola, thankfully, but if it were Ebola strength, we would have been brought to our knees as a country. Make no mistake, this could have been worse. Yet we have failed at so many levels, it is disheartening. – Michael A. Is focusing on the economic toll of coronavirus rather than the death toll disgraceful? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… "Red Alert" Issued by Little-known Financial Agency While Wall Street was busy lying to you last year… Most Americans have never heard of a small federal agency called the OFR. It was quietly created in the wake of the 2008 financial crisis as a sort of "early detection system" for financial disasters. Since then, it has mostly been ignored by the media and
politicians alike. But all that is about to change. Because this system just flashed a "red alert"… And one top-level analyst, with a history of exposing political and financial secrets… believes he knows the rea l reason why… Click here for more info. 
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