Egggg Yolk, what is the word with those who
never miss an episode, the chico army & if
your new, a viewer of the tube.
My name is Tyler, the host of the crypto channel,
that every episode puts on a killer show,
but there something about it, that always
makes you feel weird, kind of like this pole
dance…you know our Double D’s, Danny Devitos.
It’s time for Chico Crypto
Well, we have to finish the week off with
talking about the news that “shocked”
the nation...the economic quarterly report
was released and US GDP dropped by the largest
percentage on record, it fell by a drastic
9.5 percent, making years past drops and contractions
look small in comparison.
Now, if you don’t know what GDP is, it stands
for Gross Domestic Product, and it’s used
to track the health of a nation's economy,
by broadly measuring and valuing the goods
and services produced by a country.
Out of all world countries, the US has the
largest sole GDP, but regionally Asia and
Europe, are bigger than North America.
So the US got hit, and hit the hardest out
of the top nations.
From quarter 1 to quarter 2 of 2020, the US
lost 1.8 trillion….the kind of damage like
this comparable in American modern history,
is of course the great depression.
GDP got crushed, down 8.5 percent in 1929,
down 3.4 percent in 1930, collapsing a brutal
12.9 percent in 1931, and a modest negative
1.3 percent in 1932.
4 straight years of collapsing GDP, which
finally rebound in 1933.,
So the great depression Part 2?
About 100 years later?
As things seem to happen in cycles, if you
know what I mean.
That is why 1 year ago, I made the video,
Global Economy is destined to collapse.
Then 10 months ago, I put out this video “Next
Recession to DESTROY Millennials!
Bitcoin Fights Back & Secures Your Wealth!”
After that, 9 months ago, this one “realistic
bitcoin prediction as the global recession
nears.
Countdown Begins!”
And finally, when the collapse came, this
video “Are You Now Ready for the Next Great
Depression”
It was kind of obvious, even before this “myenchorona”
that the markets were over inflated, and the
virus was just the pin that popped the bubble.
And now, the ugly economic slowdown is showing
itself in every measurable data point about
the economy including that GPD.
Unemployment is still above 1 million claims,
as 1.4 million were filled last week.
Business has come to a standstill, closures
began rising and rising throughout March and
then kept going and going throughout April,
and then peaking that month.
Since the number of closures has been fluctuating
but as of July 10th over 132 thousand businesses
are still closed, mostly small businesses.
Now some people might be like, hey that’s
a good thing, since April, 40 thousand businesses
have reopened.
Ya, but for how long, and the worrying thing,
is permanent closures, are coming in hot out
of those those business closures, meaning
they are never coming back, or not for a long
time.
55 percent of those 132k, are now permanent
and the trend line sine March has been up
and up.
You know what that means?
Out of those total closures, 45 percent are
now temporary.
Meaning in a perfect world only 59 thousand
more businesses would open, but as we know
this is not a perfect world and many of those
that are in the temporary category are on
the brink of permanence.
Which is absolutely worrying, because small
business makes up 52 percent of the workforce,
dominating the large firms, with employees
scattered across all 50 states, instead of
localized in corporate headquarters.
Yet, the share, of large business which is
48 percent of the US workforce, is doing pretty
good...they received a large bulk of the handouts,
the shares of their companies are being artificially
inflated, thus the employer stock plans of
their company drones are holding strong.
Which is seen, in the only part of the economy
not stuttering, the stock market, just a surging
and a surging since the March crash low, and
shoot, expanding out the chart with the crash
included, things aren’t so bad, as since
1 year ago, the markets are only down 3.16
percent, pretty much back on Par, like at
the end of July 2019...but back then, we didn’t
have rapid unemployment claims, small business
about to go under, which equals more unemployment
claims, which means you damn corporations,
which employ the other 42 percent, are gonna
have no one to buy your products or services…
Unless, you bail the people out, keep that
unemployment going, but for a whole hell of
a lot more people, you created money for you
guys, and the corps, thinking it might TRICKLE
down….but it doesn’t you gotta trickle
up especially in a situation like this.
And the dumbass corps don’t realize it,
they are just delaying the inevitable, Small
business, employs a wide range of people,
who buy up their products, buy their cars,
fly on their planes, spend their hard earned
money, usually with no 401k, no health plan
majority on their products.
Lower the income, the higher consumption on
everything from necessities, to luxuries.
Even our Fed knows it, in a November research
paper titled “Do the Rich save More?”
It states this in their paper “A room full
of economists would be less easily persuaded
that higher lifetime
income levels lead to higher saving rates.
The typical economist would point out that
people with temporarily high income will tend
to save more to compensate for lower
future income, and people with temporarily
low income will tend to save less in
anticipation of higher future income.
Thus, even if the saving rate is invariant
with
regard to lifetime income, we will observe
people with high current incomes saving more
than their lower income brethren..that quote
came from Milton Friedman, in 1957.
So right now we are in a sticky situation.
The wealthy and their businesses are in ultimate
save mode, in the anticipation of lower future
income, from general sources of revenue, selling
goods and services to those who consume.
Those who consume the most, the ones who received
that measly Stimulus check, most have spent
it, and a large majority was consumption based,
as the situation wasn’t dire yet, and for
some in this category... it’s a joke still.
Well, in my opinion, things are about to get
dire, the clocks about to tick into August,
meaning the last full month of Summer, that
Summer of Euphoria I’m talking about.
Which you can tell is not ending, from the
1 day DowJones chart...it’s hilarious.
Worst GDP news on Record the measure of good
and services, consumption, health of an economy...yet
it can’t phase STONKS…
If that news won’t plummet it right now,
I don’t think much will.
Because who is the one tasked with the duty
of saving the stonk market, the one the FED
enlisted?
BLACKrock...who has traversed from administration
to administration, the left to the right,
George Bush, Obama and now Trump..and you
wanna know what is funny, Larry Fink was planning
to join Hilary, and take over her Treasury.
The intercept covered it in 2016 “LARRY
FINK AND HIS BLACKROCK TEAM POISED TO TAKE
OVER HILLARY CLINTON’S TREASURY DEPARTMENT”
But as we know, that didn’t work out, so
switch sides why don’t you...they are the
same anyways.
And can you trust what Blackrock is building?
The corporate, 4th branch of the government...well
the blackrock transparency project covered
it it their article titled “New Report Details
How BlackRock Built its Mexican Infrastructure
Business Through Cronyism, Corruption and
Conflicts of Interest”
Cronyism, Corruption and I like Greed..seems
to be the 3 words which describe the current
system called finance 1.0...but I’m sure,
some of you are asking, but Tyler, how will
Finance 2.0 fare, if the system of old is
about to go capoot.
Well, that is a good question, which we will
have the answers to soon enough.
BITCOIN/Crypto/DeFi Tokenization vs stonks
and 401ks.
And just look at ownership rates of BITCOIN
taken in the Spring of 2019.
18-34, 18 percent claimed to own some..35-44
12 percent claimed to own some, and then it
shrunk big time to 4 percent for 45-64, and
65+ only 1 percent.
Now, who owns stonks?
Mostly higher income people, as they are not
consuming their wealth, but saving and building
it.
How about 401ks?
Well Small business doesn’t usually offer
it, so around 52 percent of our population
is shat out of luck.
It’s the big companies, large employers
and guess who is relying on that to retire,
the older generations, as GENX and Baby Boomers
average value dwarfs millennials, and those
younger?
Not even a value worth looking at.
So, it’s obvious to me, there’s going
to be a clash of old and new, some of the
new will fight the old, and some of the old
will fight the new.
It’s those that are able to adapt both ways,
that will come out on top.
So Buy Bitcoin.
OK Boomer?
Cheers I’ll see you next time!
