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The red tsunami that nearly everyone expected didn’t materialize. The GOP had a few great wins and it appears they will gain control of the House, but not by nearly the margin most anticipated. The Senate is still up in the air. Now, some are claiming the stock market jump that took place Thursday is a result of the Democrats having a better-than-expected Election Day. This is a lie.
The stock market jumped on Thursday due solely to the inflation numbers from October. Those inflation numbers were impressive because everyone was expecting a red wave. Now that it didn’t happen, we can expect inflation to go up again (see article below) and the financial turmoil we’ve been experiencing for the last two years to continue. If Joe Biden is to be believed about pushing forward with his current agenda, our nation’s economic decline is going to accelerate even if Kevin McCarthy is Speaker of the House.
Does this mean we’re in for a full-blown recession? I asked Jonathan Rose from Genesis Gold Group that very question and others on today’s episode of The JD Rucker Show. According to Rose and other economic experts I’ve spoken to the last couple of days, the chances of a recession that starts in Europe and quickly spreads across the western world, including the United States, are very high. One noted economist who asked not to be identified said she was certain it will be coming next year.
This, more than anything else, is why I only keep mission-critical sponsors. I’ve passed on some of the most lucrative sponsor deals over the last year because I didn’t believe their products or companies were essential to Americans. Most have probably seen ads for companies that let you become a “Lord or Lady” for a fee. You’ve seen the chocolate berry ads. You’ve likely seen ads for identity protection. These sponsors pay extremely well, but I’m sticking with people like Jonathan because I earnestly believe it’s in everyone’s best interests to move their wealth or retirement to physical precious metals.
As Tom Ozimek from our premium news partners at The Epoch Times noted today, Janet Yellen is tamping expectations following yesterday’s positive inflation report, further reinforcing my stance that the time to move money to a safer harbor is right now:
Yellen Admits Inflation Could Rise Again but for Now It’s ‘Nice’ to See Softer Price Data
Treasury Secretary Janet Yellen said Friday that she’s not sure whether the rate of inflation has hit a peak and won’t accelerate again, apparently seeking to temper expectations after a government report showed inflation printing lower than markets predicted, sending stocks soaring.
“I don’t know if this is a turning point,” Yellen told Reuters in an interview in New Delhi, India, on Nov. 11, a day after the Commerce Department released data showing the annualized rate of U.S. inflation at a lower-than-expected 7.7 percent.
Market forecasts prior to the inflation data release put the figure at 8.0 percent, with the publication of the report sparking a sharp rally on Wall Street.
The better-than-expected price data also fueled market chatter about whether inflation has peaked and if subsequent reports would show a string of monthly declines.
But, like a number of market analysts, Yellen made clear it’s not reasonable to put too much stake into a single inflation report.
“I never make more of one data point. That is one data point,” Yellen said.
“It was certainly nice to see an inflation report that came in on the low side of expectations rather than the high side,” she continued, adding that there have been some early signs that inflation might be diminishing, though she did not go into detail.
Still No Meaningful Relief for Households
Greg McBride, chief financial analyst at Bankrate, told The Epoch Times in an emailed statement that even though the inflation data were better than investors expected, the fight against soaring prices is far from over.
“If this constitutes improvement, we’ve set a very low bar,” McBride said, adding that “the pervasiveness of price increases remains problematic.”
Even though the headline inflation number came in lower than markets expected, categories of basic necessities like food, energy, and shelter saw meaningful increases.
For example, the report showed that grocery store prices rose 12.4 percent year over year while energy prices advanced 17.6 percent in annual terms.
“The areas posting declines are for the most part either irregular or more discretionary in nature—airfare, used cars, and apparel,” McBride said. “Any meaningful relief for household budgets is still somewhere over the horizon.”
No Guarantee Inflation Has Peaked
Yellen’s remarks about the possibility that inflation could rise again also dovetail with those of President Joe Biden and other administration officials.
Biden acknowledged at a Nov. 9 press conference at the White House that there’s no guarantee inflation won’t rise again.
“I can’t guarantee that we’re going to be able to get rid of inflation, but I do think we can, we’ve already brought down the price of gasoline about a dollar a gallon across the board,” Biden said.
At $3.79 per gallon on average countrywide on Nov. 11, gas prices have eased off record highs of over $5 a gallon hit over the summer. Still, they remain $1.40 per gallon higher than when Biden took office.
Following the release of Thursday’s inflation report, Biden said in a statement that it would “take time” for inflation to fall back to normal levels and that “we could see setbacks along the way.”
In a similar vein, National Economic Council Director Brian Deese told CNBC on Thursday that the lower-than-expected inflation data released earlier in the day was welcome, it’s possible that the pace of price increases will accelerate.
“I think that it is welcome that we’re seeing some deceleration, certainly, and absolute price declines in certain goods categories as well,” Deese said.
“And certainly, there can be unexpected setbacks. There can be bumps in the road,” he added, saying it’s too soon to say whether the lower price pressures seen in the inflation report would persist over time.
Asked whether he’s unwilling to say that inflation has peaked, Deese replied by saying he’s willing to acknowledge some “moderation and deceleration” in inflation, which he said were “good indications” of what could come in the future.
But the future is uncertain, he cautioned, with no guarantee prices won’t accelerate again.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
