It’s Officially Started, and it’s only been a few months: Bankruptcies increase in Hawaii as debts, medical bills, and inflation burden residents – September 27, 2022,
I personally thought bankruptcies would start around 2022; one thing I was not certain of was interest rates RISING; I argued at one point that interest rates could be NEGATIVE in 2022. I got that wrong, but what I knew was consumer price inflation was inevitable, especially when Joe Biden declared war on Fossil Fuels.
I like many others, often refer to the U.S dollar as the PETRODOLLAR, meaning that where oil prices go is where you’ll expect the prices for everything else to go. Well, Joe Biden decided to REGULATE fossil fuels with an iron fist, and a lot of the environmental socialists who support Joe Biden are fighting for Biden to be more aggressive on destroying the fossil fuel industry, and in many ways, Joe Biden is helping these socialists achieve their goal.
Democrat policies tend to lead to POVERTY, especially amongst people who don’t have a college education; Hawaii appears to be the first victim of Joe Biden to have a wave of bankruptcies. I’m not sure if this is a one-off event, but when I made my predictions about bankruptcies, I imagined a WAVE OF BANKRUPTCIES HAPPENING, NOT JUST ONE.
I also didn’t calculate rising interest rates into my equation when I wrote about a wave of bankruptcies. Will the Federal Reserve reverse policy and lower interest rates if bankruptcies start happening in mass? I’m not sure, but why they shouldn’t lower interest rates is because lowering interest rates will ENCOURAGE the U.S Federal Government to spend more during a period in which RESOURCES are becoming more SCARCE.
Regulations are the main culprit of SHORTAGES, and throwing money in a heavily regulated environment equates to it costing more money to purchase FEWER goods and services. Regulations INCREASE production costs; when I write that Joe Biden has declared war on Fossil fuels, what he actually did was RAISE their production costs to make them less profitable, as well as denied them the ability to drill more oil DOMESTICALLY.
Once you understand the damage Joe Biden has done to the regulatory environment in the United States; you start to see the BAD position he put the Federal Reserve in, Because f the Federal Reserve LOWERS interest rates in this type of economy, the Fed will be rewarding Joe Biden for destroying the U.S economy.
Now, once you understand what Joe Biden did to the U.S economy, you have to also understand that the value the INTERNATIONAL FOREX markets GIVE TO THE U.S dollar has little to do with the DOMESTIC purchasing power of the greenback.
Once you comprehend the factors outlined in this post, it’s easier to comprehend why I believe there is going to be a WAVE of bankruptcies coming to America.
Interesting times ahead!