The WaRNing

Cracks are beginning to appear (again) in the US economy and on the political front.  I've resisted the temptation to comment publicly about these developments...truthfully that type of analysis is above my pay grade. Nonetheless, I stumbled into an old documentary recently that brought me through a partial review of some of the big downturns I've witnessed over my 35+ years working on Main Street as a tax preparer and observer of all things financial as they relate to the average American. This Frontline documentary is worth your time. I'll explain...

LINK TO DOCUMENTARY ON YOUTUBE

Wall Street and the political elite in Washngton DC care very little about YOU. This conclusion transcends administrations. Yes, to get elected and to get you to buy their products, they sugarcoat their message. History doesn't repeat itself (exactly) but it rhymes.

The big developments in this latest buildup to the next collapse include the following...

Uncontrollable government spending and record debt.

Bitcoin and all the related fraudulent digital currencies.

Stock Market Bubble.

Erosion of the "rule of law".

The cracks are just beginning to form...I can't predict or know for certain when the  implosion will occur.

Bitcoin down 20-25% from peak.

Real Estate weakness particularly in certain sectors of the commercial market and now residential is softening. Stock market "irrational exuberance". Complete breakdown in rule of law at the highest levels. Downturn in hiring and mass layoffs. And the list goes on.

I've witnessed many clients get wiped out in these past crashes. Some recover over time and some do not. 

Stay grounded, listen to the "elites" with a healthy dose of caution and know that you can control your own destiny. No one cares more about you than you.