Revenge: An Internet Mob Is Turning The Stock Market Into “A Video Game”, And The Establishment Is Freaking Out

Retail investors have banded together to turn over the tables on Wall Street, and it has created a wild frenzy that is making headlines all over the globe.  Unprecedented short squeezes have pushed the share prices of GameStop, AMC, Macy’s and BlackBerry to insane heights, and prominent voices in the financial world are complaining that trading in those stocks has become completely divorced from the fundamentals.  In fact, these young retail investors are actually being accused of turning the market into “a video game”.  Infamous investor Michael Burry, who made crazy amounts of money betting against the housing market during the last financial crisis, even had the gall to claim that recent trading in GameStop was “unnatural, insane, and dangerous”.

Of course Burry is right, but the truth is that the entire market has been transformed into a giant casino and has been “unnatural, insane, and dangerous” for a very long time.

If the entire market fell 50 percent tomorrow, stock prices would still be overpriced.

So it is more than just a little bit hypocritical for the Wall Street establishment to be complaining about GameStop when they have been gaming the system for years.

Ultimately, GameStop is not a good long-term investment.  Most people download video games these days, and so a brick and mortar retail chain that sells physical copies of video games shouldn’t be attractive to anyone.

GameStop lost money last year, and they will lose money again this year.

But a group on Reddit known as “WallStreetBets” noticed that some big hedge funds had taken ridiculously large short positions against GameStop, and they sensed an opportunity.  They realized that if they all started to buy GameStop all at once, it would likely create a short squeeze of epic proportions.

And that is precisely what has happened.

A year ago, a single share of GameStop was going for about four dollars.

At the beginning of the month, GameStop was sitting at $17.25.

On Wednesday, it closed at $347.51.

In addition to making huge profits, the investors on “WallStreetBets” also wanted to get revenge on the big hedge funds for all the evil things they have done in the past.

Every great story needs a great enemy, and in this case the great enemy is a hedge fund called Melvin Capital

Melvin Capital, the $12.5 billion hedge fund founded by Gabriel Plotkin, was one of the main targets of the Reddit campaign, after an SEC filing revealed that the fund had a large short position in GameStop.

‘By the end of the week (Or even the end of the day), Plotkin is going to have less than a college student 50k in debt who works part time at starbucks,’ one Reddit user wrote on Wednesday morning.

Nobody knows for sure how much money Melvin Capital has lost, but it appears to be in the billions

CNBC could not confirm the amount of losses Melvin Capital took on the short position. Citadel and Point72 have infused close to $3 billion into Gabe Plotkin’s hedge fund to shore up its finances. On Wednesday’s “Squawk Box,” Sorkin said Plotkin told him that speculation about a bankruptcy filing is false.

Melvin Capital has supposedly closed all of their short positions in GameStop now, but not everyone is buying that claim.

In any event, the crowd on WallStreetBets intends to continue to drive up the prices of GameStop, AMC, Macy’s and Blackberry for the foreseeable future.

Eventually, each of those mini-bubbles will collapse, but for now the big short sellers are squealing in pain.

Needless to say, the large hedge funds have been reaching out to their “friends” for help, and the SEC just released a statement which indicated that they are watching developments closely…

We are aware of and actively monitoring the on-going market volatility in the options and equities markets and, consistent with our mission to protect investors and maintain fair, orderly, and efficient markets, we are working with our fellow regulators to assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants.

And White House Press Secretary Jen Psaki told reporters just a few hours ago that the White House is “monitoring” the situation.

But what is there to “monitor”?

All is fair in love and investing, and the retail investors of “WallStreetBets” caught some big hedge funds with their pants down and punished them for it.

After everything that big hedge funds have gotten away with over the years, many would argue that a little bit of revenge was definitely in order.

But Wall Street has never seen anything like this before.

Retail investors are supposed to be small fish that get eaten alive by the bigger fish, but now technology has changed the rules of the game

The way people trade stocks has been upended by the rise of no-fee apps like Robinhood. That technology has democratized investing, giving armchair investors far removed from traditional banks free access to sophisticated trading instruments, like options.

You could pay an analyst to tell you what stocks to buy, or you could create a Reddit account and follow forums like WallStreetBets. Millions of young people are opting for the latter, which is partly why the sudden surges in GameStop and AMC have caught Wall Street veterans by surprise.

Nobody should shed a tear for the short sellers.

They have made obscene amounts of money over the years by manipulating the markets and by preying on weak companies.

Now an Internet mob is preying on them, and many that are involved believe that revenge is a dish best served cold.

If you can’t handle the pain, don’t play the game.

In the end, this entire farce of a market is going to utterly collapse anyway.  So the truth is that very few are going to get out of this thing unscathed.

Since the financial crisis of 2008 and 2009, investors have seen their portfolios increase in value by trillions of dollars, but this bubble only exists because of unprecedented manipulation by the Federal Reserve and others.

Now a relatively small group of retail investors is manipulating stock prices to punish a couple of hedge funds and everyone is in an uproar over it?

What a joke.

Our financial markets are fraudulent, and they have been for many years.

Nobody should be accusing retail investors of turning the stock market into “a video game”, because the Federal Reserve already did that a long time ago.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The Secret To The Stock Market: Just Buy Tech Companies That Are Losing Money And Watch Profits Rain From The Sky

For those that can’t detect sarcasm, I am not actually sharing “investment advice” in this article.  Rather, I am pointing out how absurd our financial markets have become at this point.  While the real economy is mired in the worst economic downturn since the Great Depression of the 1930s, the stock market just keeps soaring to record high after record high.  If the underlying profits that these corporations were generating actually justified the extremely high stock prices that we have been witnessing, then I wouldn’t have anything to complain about.  Sadly, the truth is that many of the companies that are seeing their stocks soar into the stratosphere are not making any money at all.

I know that this may sound bizarre to many of you that do not follow the markets on a regular basis, but this is what is actually happening.

In fact, Goldman Sachs actually has something called a “Non-Profitable Technology Index”, and it has been rising at an exponential rate during this pandemic…

Of course in order to be a part of the “non-profitable technology index” you have got to be losing money.

So as you can see, if you want to make big money in the stock market just buy tech companies that are losing boatloads of money and wait for the profits to rain from the sky.

At this point, the stock market has become such a rigged game that literally anyone can succeed.  Just ask this guy

“I see a stock going up and I buy it.”

Wow.

That is brilliant.

And that will work as long as stocks only keep going one way.

When the COVID pandemic started hitting the U.S. really hard, the powers that be decided that they were going to do whatever it took to support the stock market.

The Federal Reserve literally poured trillions of dollars into the financial system, and as a result the ratio of the Fed’s balance sheet to U.S. GDP is at an all-time record high.

Our politicians in Washington kept passing stimulus package after stimulus package, and as a result the ratio of the U.S. budget deficit to U.S. GDP is at an all-time record high.

We are literally destroying our currency and we have placed ourselves on the hyperinflation highway, but very few of our leaders in Washington seem too concerned about what is happening.

So the stock market bubble will continue to expand and people will continue to mindlessly make money until one day a big enough trigger event comes along to burst the bubble once and for all.

And without a doubt, what we are in right now is an epic bubble.  According to CNBC, the trailing price to earnings ratio of the median stock “has never been higher”…

Right now, it’s hard to deny that on the whole, stocks are rich relative to past earnings and forecast earnings. The trailing price/earnings ratio of the median U.S. stock, tracked by Ned Davis Research, has never been higher.

Meanwhile, the real economy continues to deteriorate all around us.

Earlier today, we learned that chocolate giant Godiva will be closing every single one of their stores in North America…

It was sweet while it lasted.

Belgian chocolatier Godiva will sell or close all 128 of its North American shops within the next few months, the company said this week.

Out on the west coast, many small businesses have decided to “go underground” in a desperate attempt to survive

Los Angeles City Attorney Mike Feuer has charged dozens of businesses with violations, including car washes, tobacco shops, beauty supply stores, massage parlors, nail salons, pet groomers, and an Egyptian artifact store.

The owners of one Bay area massage business made the decision to reopen underground after 93 days on no income, telling Cal Matters that it came down to either paying “the fine or we can’t pay our mortgage.”

But why should anyone even try to run a small business at this point?

After all, can’t we all make enormous profits just by buying the stocks of tech companies that are losing millions of dollars every year?

Not even during the “dotcom boom” did we ever witness euphoria like this.

The more absurd the business model, the more investors seem to like it.

And investors really seem to like it when a company is endlessly hemorrhaging money with seemingly no hope of ever becoming profitable.

For now, investing like an idiot works because everyone is winning.

Of course someday the party will come to a very abrupt end.

But for now the madness continues, and most investors definitely do not want to be awakened from their stupor.

At the same time, the World Economic Forum is preparing the rest of us for a dismal economic future in which we eat worms, live in “tiny houses”, and are forced to carefully follow the new “green rules” for a sustainable environment.

The standard of living is going down for most of us, but thanks to rising stock prices the rich are now richer than ever.

This rapidly expanding gap between the wealthy and the poor is creating an enormous amount of tension in our society, and it is just a matter of time before all of that tension explodes in frightening and unpredictable ways.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Wow, That Was Fast…

Over the years, the big tech companies have made enormous amounts of money by monetizing discussions about politics.  But now that Twitter and Facebook have silenced President Trump and have deeply alienated large portions of their user bases, their stock prices are tumbling.  I figured that this would happen, but I didn’t anticipate that it would happen this rapidly.  To be honest, what we are witnessing is nothing short of breathtaking.  For example, at one point on Monday Twitter’s market value had fallen by five billion dollars

As a result of the ban, Twitter stock fell 12 percent on Monday, and the share-price decline wiped $5 billion from the company’s $41 billion market capitalization.

According to Business Insider, the stock likely fell because investors are worried that the ban will diminish interest in the platform and lead to boycotts among those who see the decisions as politically motivated and a way to silence conservative voices.

The executives at Twitter may not have liked it, but President Trump was their number one draw by a very wide margin.

And it is very bad business to kill off your number one source of income, but that is exactly what Twitter just did.

So what will Twitter do now with no Trump?  This is a question that CNBC’s Jim Cramer would very much like an answer to

“I think that there are a lot of people who literally knew that the president was the most important person, and you had to keep checking him, and then you had to check people who talked about him,” Cramer said. “And you just had this endless wave, this web that the president created, and then it was like action and reaction, so I think that the surprise factor of going to Twitter, which was of course the president, is gone!”

In addition to permanently banning Trump, Twitter also decided to ban approximately 70,000 of his followers.

Those bans have alienated millions of other users, and that is a major problem.

With people leaving in droves, Jim Cramer is warning that Twitter desperately needs “a new thesis very, very quickly”

“Twitter’s got to come up with a new thesis very, very quickly because I think they always, they never talked about the power of Trump in bringing in people,” he added. “I am telling you the real Donald Trump was a great sales person for Twitter.”

Meanwhile, investors are bailing on Facebook as well.  In fact, at one point on Monday Facebook’s market cap was down 33.6 billion dollars

Facebook sank as much as 4.5% on Monday as investors continued to balk at the platform’s ban of President Donald Trump.

The slide saw $33.6 billion erased from Facebook’s market cap at intraday lows. Shares have since pared some losses and now trade about 2.6% lower.

These numbers are so absurd that they are difficult for many people to grasp.

How in the world can a single company suddenly be worth 33,600,000,000 less dollars than it was yesterday?

Apparently Facebook has decided that it doesn’t want conservatives on the platform anymore, because they keep alienating conservatives over and over again.

Sadly, we just learned that Facebook has even decided to start going after Ron Paul

Ron Paul shared on Twitter that Facebook had temporarily blocked his account for “violating community standards” but he had no idea why. He posted that his account had not received a warning prior, despite the message saying that his account had committed multiple violations.

Facebook will never be the same after this.

Yes, the company will still be around, but the user base is going to be substantially smaller.

On Monday, I had to smile when I learned that an Internet service provider in Idaho has decided to block Twitter and Facebook unless their customers specifically request that they be unblocked.

What a great idea.  If more Internet service providers started doing the same thing, the big tech companies would start backing off really fast.

And we aren’t just seeing a backlash here in the United States.  Even German Chancellor Angela Merkel is speaking out about how wrong all of this censorship is…

German Chancellor Angela Merkel said Monday through chief spokesman Steffen Seibert that Twitter’s Trump ban is a problem and that corporations should not be messing with free speech, Fortune reported.

“The chancellor sees the complete closing down of the account of an elected president as problematic,” Seibert said, according to Fortune, adding that the freedom of speech “can be interfered with, but by law and within the framework defined by the legislature — not according to a corporate decision.”

The European Union is not exactly a bastion of free speech.

If national leaders over there think that you have gone too far, that is really saying something.

Unfortunately, the days of a free and open Internet are completely gone and they aren’t coming back.  Tyranny will continue to grow in the days ahead, and very dark times for humanity are coming.

It will be very interesting to see how the market moves on Tuesday.  We are starting to witness a tremendous amount of volatility, and that is usually not a good sign.

Speaking of volatility, the cryptocurrency market lost a whopping 150 billion dollars in market value on Monday

Bitcoin and other digital coins tanked on Monday, wiping some $150 billion off the cryptocurrency market.

The market capitalization or value of the cryptocurrency market was $931 billion around 6:00 p.m. ET, down from $1.08 trillion a day earlier, according to Coinmarketcap.

If you have been able to make a lot of money by riding the waves of the cryptocurrency market, good for you.

But just like the stock market, you only make money in the cryptocurrency market if you get out in time.

In the end, the cryptocurrency bubble will burst just like the stock market bubble will.

It is just a matter of time.

The “perfect storm” that began in 2020 will continue to intensify in 2021, and every part of our society will be greatly shaken by it.

Many Americans on both the left and the right are desperate for a political solution to our problems, but no political solution is going to get us out of this mess.

We are going to reap what we have sown, and this is going to be an exceedingly bitter period in our history.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The Worse Things Get, The More The Stock Market Likes It

No matter how bad things become, stock prices just keep going up and up and up.  In 2020, we experienced the worst public health crisis in 100 years, the U.S. economy was plunged into the worst economic downturn since the Great Depression of the 1930s, Americans filed more than 70 million claims for unemployment benefits, and civil unrest raged in major cities all across the United States.  Meanwhile, we witnessed the greatest stock market rally in American history.  No matter what happened, nothing could seem to dampen the wild euphoria on Wall Street.

To start 2021, many believed that we had finally reached a point when bad news would finally start driving stock prices down.  Yesterday, I wrote about how some experts were warning that stock prices could fall substantially if Democrats gained control of the U.S. Senate after the runoff elections in Georgia.  Well, in the short-term those experts were proven wrong.  In fact, the Dow Jones Industrial Average actually rose 437 points on Wednesday.

Of course the bigger news on Wednesday was the utter chaos that we witnessed at the U.S. Capitol in Washington.  Doors and windows were smashed, members of Congress had to be evacuated, and protesters freely roamed through the halls and offices.  You would think that something like that would definitely send stock prices plunging, but instead the Dow ended the day up 437 points.

Even though we have just come through the worst year in recent memory, and even though our system of government is in disarray, stock prices hit an all-time record high on Wednesday.

One explanation for this is that investors consider the chaos in Washington to just be “temporary”…

“Although the takeover of the Capitol is shocking, it’s widely perceived to be temporary and contained in scope, at least in the immediate term,” says Yung-Yu Ma, chief investment strategist and managing director at BMO Wealth Management.

“This is going to be dealt with pretty swiftly and won’t have lasting repercussions in terms of disruptions to the government,” Ma added. “It won’t change the trajectory of a Biden presidency in the coming weeks.”

We shall see what happens, but a lot of people out there are not so optimistic that the governmental shaking that we have been witnessing will pass so easily.

Moving forward, investors appear to be salivating at the prospect that a Biden administration will mean that more stimulus money is on the way

“I think there’s an expectation … that there’s going to be a lot more spending,” Jason Trennert, chairman of Strategas, said on CNBC’s “Squawk Box” on Wednesday. “If the Democrats were to pick up two seats, there’s no question in my mind that later this year there would be a sense that more spending is needed.”

Goldman Sachs expects another big stimulus package to the tune of $600 billion in the near term if Democrats prevail and take the Senate.

Why not make it $600 trillion?

Every dollar that we borrow and spend just makes our long-term problems even worse, and so why not get the process over with?

As I discussed the other day, the trillions of dollars that have already been pumped into our system over the past 12 months by the Federal Reserve and by our politicians in Washington have fundamentally changed the trajectory of our future.  The money supply is rising at an exponential rate, and we are now on a hyperinflationary path.

Sadly, under a Biden administration there will be no going back.  Instead, the accelerator will be pushed even further toward the floor.

But it isn’t just our financial system that is in grave danger.

Our system of government is also in grave danger as well.

Our culture is in grave danger too.

In fact, our entire society is in grave danger.

There is no future for our country if we stay on the path that we are currently on.  We are engaging in self-destructive behavior in thousands of different ways, and even though there have been endless warnings, we are so addicted to our self-destructive behavior that we just can’t help ourselves.

At this point, it is difficult to imagine how anyone can possibly be optimistic about the future of our nation.

But apparently stock market investors disagree, because they just keep pushing stock prices higher and higher.

It shall be very interesting to watch how high they can go before the system finally implodes.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Experts Are Warning That The Stock Market Could Fall Dramatically If Democrats Take Control Of The Senate

The results from Georgia are going to have enormous implications for the financial markets.  If Democrats win both of the seats that are up for grabs, that will give them control of the Senate, the House of Representatives and the White House.  For the first time since the first two years of Barack Obama’s presidency, the Democrats would have an opportunity to advance their agenda without compromising with the Republicans, and that is extremely frightening for investors.  The Democrats have made it very clear that they intend to raise taxes on big corporations and the ultra-wealthy, and that wouldn’t be good for the stock market bubble at all.

As I write this article, the two races are still too close to call, and we probably won’t know the final results for a while.

But experts are already warning that we could see a huge stock market decline if both Democratic candidates win.  For example, former Trump adviser Steve Moore is warning that the Dow could fall by 1,000 points

Former Trump senior economic adviser Steve Moore argued on Tuesday, the day voters in Georgia head to the polls for the Senate runoff elections, that a Democratic sweep could lead to the Dow Jones Industrial Average dropping by 1,000 points.

Moore says that he came to this conclusion by examining data from the last 60 years

“I looked at the evidence of what’s happened in the last 60 years or so with respect to the stock market in terms of three different scenarios: One is Republicans control everything in Washington, the second scenario being Democrats control everything in Washington, the third being divided control of power and in general the best scenario for economic growth has been when you have divided power,” Moore said.

“The worst scenario over the last 50 or 60 years is when Democrats have control over all the levers of power so I would think the historical record is pretty clear on this, that a Democrat sweep tonight would be bad for markets,” he continued.

Oppenheimer’s John Stoltzfus is even more pessimistic.  He believes that we could see the stock market drop by a total of six to ten percent if both Democrats win

That’s according to Oppenheimer chief investment strategist John Stoltzfus, who wrote in a note to clients on Monday that investors may be spooked by the prospect of increased corporate taxes and government spending under the Biden administration with a Democratic majority in the House and the Senate.

“A Democratic sweep of the two runoff elections in Georgia could cause the U.S. broad equity market to experience a downdraft of anywhere between 6% and 10%,” Stolzfus wrote.

Large corporations were thrilled with President Trump’s tax cuts, but Joe Biden has said that he intends to get rid of them.

But in order to do that, Joe Biden needs a Senate that is controlled by Democrats, because a Republican-controlled Senate would never go for what he is proposing

Biden has repeatedly said he would roll back President Trump’s 2017 Tax Cuts and Jobs Act and raise the corporate tax rate to 28% from 21%, restore the top individual tax rate to 39.6% from 37%, tax capital gains as ordinary income, cap deductions for high earners, expand the Earned Income Tax Credit for workers over the age of 65 and impose the Social Security payroll tax on wages above $400,000. Without a Democratic-controlled Senate, those tax hikes are likely off the table.

At this moment, it is not clear who will win, but investors will be watching the results very, very closely.

According to officials in Georgia, we should have a pretty good idea of who won by the middle of the day on Wednesday

“Depends how close it is, but most likely it’ll probably be tomorrow morning. It really depends how many absentee ballots,” Georgia Secretary of State Brad Raffensperger told Fox News Tuesday morning.

David Worley, a member of the State Election Board, told The New York Times that if processing goes smoothly, officials will “have a pretty good idea” of who won by 1 a.m. Wednesday.

With so much on the line, spending on these races has reached levels that we have never witnessed before.  The following comes from Zero Hedge

  • Roughly $404 million was spent on advertising in the Perdue-Ossoff race, according to Advertising Analytics, making it the most expensive Senate race ever.
  • Nearly $300 million was spent on advertising in the Loeffler-Warnock race, making it the second most expensive Senate race ever – behind only Perdue-Ossoff.

Can you imagine how much good could have been done if 704 million dollars had actually been spent helping people instead?

Sadly, the game of politics has become all about money these days.  The candidate that raises the most money wins the vast majority of the time, and my advice for anyone that is planning to run for office is to raise as much money as possible.

As for the stock market, the ridiculous bubble that we are witnessing at the moment will inevitably collapse, and it is entirely possible that these election results could be a trigger event.

But whether it happens this week, this month, this year or some time later, there is no possible way that stock prices can stay at such absurdly inflated levels.

Even if the stock market fell 50 percent, stocks would still be overvalued based on historical norms.

Never before in U.S. history have we been more perfectly primed for a stock market collapse, and it isn’t going to take very much to push us over the edge.

For the moment, we are watching Georgia, but there will be many more pivotal moments as we continue to roll through the early stages of 2021.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The Dow Just Hit 30,000, But Meanwhile The Real Economy Is Having A Meltdown

Did you hear the good news?  The Dow Jones Industrial Average hit 30,000 for the first time ever this week.  In the midst of the worst economic downturn since the Great Depression of the 1930s, the stock market has been soaring to heights that we have never seen before.  What we have been witnessing is completely insane, but I suppose that if the entire system is utterly doomed, we might as well go out with a bang.

I have often said that the stock market has become entirely detached from reality, and that statement has never been truer than it is right now.

For the companies listed on the S&P 500, profits are down about 48 percent compared to last year.  But fundamentals do not seem to matter in the giant casino that Wall Street has become.

Instead, the key is to create as much buzz and speculation around your company as possible.  In this type of environment, a mirage known as “Tesla” can be worth more than all of the other major automakers in the entire world combined

The electric car maker’s shares continued to climb more than 4% on Tuesday, increasing its total market value above $500 billion for the first time. Tesla’s market cap rose to more than $520 billion Tuesday afternoon.

Tesla (TSLA) is now worth more than the combined market value of most of the world’s major automakers: Toyota (TM), Volkswagen (VLKAF), GM (GM), Ford (F), Fiat Chrysler (FCAU) and its merger partner PSA Group (PUGOY).

Anyone that believes that Tesla is actually worth 500 billion dollars is probably clinically insane.

But of course there are hundreds of other big corporations that are wildly overvalued at the moment as well.

Meanwhile, the real economy continues to implode.  According to Fox Business, we are facing “a tidal wave of evictions at the end of the year”…

The U.S. is facing a tidal wave of evictions at the end of the year unless the federal government, in the eleventh hour, extends key pandemic-related protections for millions of renters and homeowners.

More than 5.8 million adults say they are somewhat to very likely to face eviction or foreclosure over the course of the next two months, according to a U.S. Census Bureau survey completed Nov. 9. That represents about one-third of the 17.9 million Americans who were behind on their rent or mortgage payments last month.

The reason why millions upon millions of Americans are in danger of losing their homes is because we have seen an unprecedented tsunami of unemployment in 2020.

More than 70 million Americans have filed new claims for unemployment this year, and there has never been another year in all of U.S. history when we have even seen half that number.

This absolutely massive wave of job losses has pushed millions of Americans into poverty, and hunger is on the rise all over the country.  The following comes from Simon Black

New York City is up 33% this year. St. Louis is up 66%. In Oregon it’s up 100%.

I’m not talking about real estate prices, local budget gaps, or even property tax rates.

These are the startling increases in the number of people across the country, and the world, who are in need of food.

But at least the stock market is doing well, right?

In Texas, the CEO of one food bank says that the number of people that they are helping has doubled this year

Eric Cooper, CEO of the San Antonio Food Bank, told CNBC that his Texas food bank now feeds double the amount of people it used to compared to before the coronavirus pandemic gripped the United States.

“Pre-pandemic we fed about 60,00 people a week and now we’re seeing about 120,000 per week, and most of those are new to the food bank, and have never had to ask for help before,” Cooper said during a Tuesday evening interview on “The News with Shepard Smith.”

And what makes all of this even more heartbreaking is the fact that most of the households that need assistance have children living at home.  Just check out these numbers from Washington state

Nearly one-third of Washington households have struggled to get enough to food at some point since the start of the coronavirus pandemic, a new study found.

Of the 30% of households that experienced food insecurity, 59% had children living at home, according to the Washington State Food Security Survey, put together by a team of professors and researchers at Washington State University, the University of Washington and Tacoma Community College.

Now another wave of lockdowns is being instituted all over the nation, and that is going to take the level of economic suffering in this country to an even higher level.

For many workers, being laid off just before the holidays is especially painful

Waiters and bartenders are being thrown out of work – again – as governors and local officials shut down indoor dining and drinking establishments to combat the nationwide surge in coronavirus infections that is overwhelming hospitals and dashing hopes for a quick economic recovery.

And the timing, just before the holidays, couldn’t be worse.

Can you imagine just barely making it through the first round of lockdowns and then being told that you have to do it again?

This is the reality that so many Americans are facing at this moment.  For example, this is what 34-year-old Tracey Grey told CBS News about her situation…

My savings are depleted. If 10 of my clients cancel their membership, right now, I’m done. When I say I’m literally just making it, I am literally just making it. I’m one paycheck away and that’s not even an exaggeration.

Now more than ever, the stock market is not a barometer for the health of the overall economy.  The truth is that an economic collapse has begun, and over time it will get much, much worse.

But for the moment, nothing you can say will keep the ultra-wealthy from feeling euphoric as they monitor their rapidly rising stock portfolios.

For them, this will definitely be a very happy Thanksgiving.

But for most of the rest of the country, the current state of affairs is nothing to smile about.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The U.S. Dollar Is Being Systematically Destroyed, And We Are On A Path That Inevitably Leads To Hyperinflation

If we keep treating the U.S. dollar like it is toilet paper, it is just a matter of time before our entire financial system goes down the tubes.  At this moment, the dollar is still the primary reserve currency of the world, and the fact that we control it is an absolutely massive advantage for us.  Because the rest of the globe uses dollars to trade with one another, that creates a tremendous amount of artificial demand for our currency, and it keeps the value of our currency elevated at a level that it much higher than it otherwise would be.  But now that we are starting to act like the Weimar Republic in their heyday, it is only going to be a matter of time before everyone else on the planet starts abandoning the U.S. dollar in droves.  We are literally killing our “golden goose”, and most Americans do not even understand what is happening.

The remarks that John Williams made about hyperinflation during a recent interview with Greg Hunter have created quite an uproar, but the truth is that Williams is right on target.

We are on the exact same path that Zimbabwe, Venezuela and so many others have already gone down, and the very foolish decisions that we have been making are only going to end in complete and utter disaster.

To illustrate what I am talking about, I would like to direct your attention to what has happened to M2 during this calendar year.  For those that are not familiar with M2, here is a definition that comes from Investopedia

M2 is a calculation of the money supply that includes all elements of M1 as well as “near money.” M1 includes cash and checking deposits, while near money refers to savings deposits, money market securities, mutual funds, and other time deposits. These assets are less liquid than M1 and not as suitable as exchange mediums, but they can be quickly converted into cash or checking deposits.

As you can see on this chart, the M2 curve has been rising at an exponential pace in 2020.  In fact, since the pandemic started the curve has nearly gone vertical…

If we keep doing this, we won’t be facing a major financial disaster years from now.

Rather, it will just be a matter of months before the wheels start coming off.

But our leaders do not have any intention of changing course now.  During 2020 the Federal Reserve has been pumping money into the financial system at a rate that we have never seen before, and they have indicated that they plan to continue to support the financial markets as we head into 2021.

And Chicago Federal Reserve Bank President Charles Evans just said that he expects that interest rates could continue to be pushed all the way to the floor “perhaps into 2024”

Chicago Federal Reserve Bank President Charles Evans said Monday there is still “quite a long ways to go” for the U.S. recovery from the coronavirus crisis, adding that he expects the Fed to keep interest rates at their current near-zero level until perhaps into 2024.

Of course the federal government is going to continue to pump out “stimulus package” after “stimulus package” no matter who is in the White House.  This is a point that John Williams made very strongly during his interview with Greg Hunter

Because they has been so much damage done to the economy, Williams says there will have to be stimulus no matter who eventually makes it into the White House.  Williams contends, “Let’s say Trump gets re-elected.  He’s not going to have any choice but to increase stimulus to try to help the economy and help people.  If Biden takes over, he’s going to have to do the same.  He is already promising massive stimulus.  Where it gets really scary is if the Democrats can take control of the House, the Senate as well as the White House. . . . The stimulus there is going to be unbelievable. . . . The more radical Democrats will just print the money you need and spend whatever you need to spend it on, and don’t worry about it. . . . Whoever gets into power, there is going to be more deficit spending.  It’s just a matter of how radical it will be. . . . There is no way we are escaping massive stimulus for at least the next year and into 2022.”

Virtually everyone likes getting “free money” from the government, but you have probably noticed that the price of just about everything has been going up lately.

And this is just the beginning.  According to Williams, we are literally on the verge of a “hyperinflationary Great Depression”

Williams expects to see some very large inflation because of all the stimulus coming and predicts, “The more left we go, the more rapid will be the demise of the dollar.  Eventually, it will be a hyperinflation in the United States.  What I am looking at here is this evolving into a hyperinflationary Great Depression.  To save yourself, you have to preserve your wealth, your dollar assets.  To do that, you have to convert your dollars into physical gold and silver, precious metals and just hold them.  They will retain value over time as opposed to paper dollars that will effectively become worthless.  You’ll be getting a lot of money from the government, and they will keep giving you more and more and more, but that’s going to be an environment of rising and rising inflation.  It’s not necessarily going to buy you more. . . . Hyperinflation will bring political disruption. . . . Hyperinflation is a form of default.  Gold is telling us hyperinflation is straight ahead of us.”

Needless to say, what Williams is saying is perfectly consistent with the warnings in my new book.

To protect themselves, a lot of investors have been pouring money into gold, silver and other precious metals.

At the start of this year, the price of gold was sitting at $1,520.55.  As I write this article, the price of gold is at $1824.00.

And actually the rise in the price of silver has been even more dramatic over the course of 2020.

Gold and silver will almost certainly keep rising as the value of the dollar continues to be destroyed, but even those that invest in precious metals are not going to win in the end.

Because the truth is that the complete collapse of our financial system is not going to benefit any of us, and there is going to be no way to avoid such a fate if we keep going down this very dangerous path.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.