If You Think Things Are Bad in the U.S. Right Now, Wait Till You See THIS!

The U.S. economy collapsed with the spring lockdown … bounced back with the summer reopening … and is now stalling again, or even rolling over.

This means that …

At least half of the 40 million jobs lost so far will stay lost.

Most cities and states will soon start slashing payrolls, or, at best, maintain across-the-board hiring freezes.

Hundreds of thousands of businesses will fold for good.

Tax revenues flowing into the government’s coffers will shrink even more.

The federal deficit, already headed for a shocking $4 trillion, will grow even larger.

And the Federal Reserve will unleash another wave of massive money printing.

But if you think that’s bad, wait till you see what’s happening overseas …

France: New lockdowns likely. President Macron says, “we’re doing everything to avoid a new lockdown,” but what they’re doing is obviously not working. Soon after he made that statement, the government reported over 7,300 new COVID-19 cases, the highest since March 31.

The economy is in its worst depression since 1949. The transportation, restaurant and hotel sectors have been gutted in half. And now another round of lockdowns is in the cards.

Germany: Fall fever on the way. While Macron in France is trying to sugarcoat the crisis, Merkel in Germany is issuing new warnings. She says the fall and winter seasons will drive up infections.

Already, the economic decline in the second quarter was the worst since Germany began calculating quarterly GDP in 1970. Investments disappeared. Exports collapsed.

Spain: Worst infection rate of the entire pandemic. In March, Spain suffered the worst infection rate per capita in Europe and one of the worst in the entire world. Now, they’ve just reported daily counts that are even higher, throwing both the government and the population into panic.

The Telegraph says a “second lockdown could destroy Spain’s devastated economy.” Others warn that Spain’s overreliance on tourism could be fatal.

India: Now No. 1 in new daily cases. On Sunday, the government reported more than 78,000 new COVID-19 infections, the most of any country in the world. But only a small portion of the population has access to testing. So official numbers greatly underestimate the true caseload.

The Nikkei Asian Review reports that India’s economy is a “shattered mess.” In the second quarter, it shrank 23.9%, even worse than the median estimates of an 18% contraction. Trade, hotels and communication plunged 47%. Construction was gutted 50.3%.

Russia, Brazil and South Africa: Equally bad or even worse. This means that, except perhaps for China, ALL five of the BRICS countries are now in a deep depression that’s bound to get deeper.

These were the economies that were among the best performers before the pandemic, helping to boost global growth. Now they’re dead weight, pulling much of the world down into an abyss.

So, here’s what to expect …

In the U.S., Western Europe and Japan, expect massive new rounds of central bank money printing.

In emerging markets, which don’t have that power, expect investors to dump their local currencies.

And everywhere, you can count on a massive flight to safe-haven assets, such as gold and Bitcoin.

Bitcoin has historically outperformed gold by a mile.

Newer cryptocurrencies, leaders of a great money revolution, are outperforming Bitcoin by three-to-one, even 10-to-one.

And one in particular we’re tracking closely has just surged in value from less than $35 on July 18 to $37,621 this morning. That’s 3,872 times better than Bitcoin during the same period.*

It is clearly and without exaggeration, The Greatest Money Revolution of All Time, the topic of my recent presentation.

I suggest you watch it now while you still can.

Good luck and God bless!

Martin

* From July 18 through this morning, Aug. 31, Bitcoin rose from $9,160 to $11,734, for a gain of 28.1%. Meanwhile, a new important digital asset, now jumping into the forefront of this great money revolution, rose from $34.53 to $37,621, or a gain of 108,851.6%. That’s 3,872 times greater than the gain in Bitcoin during the same time frame. For all the details on this money revolution, watch my presentation here.