Economist’s “News and Views” 10-17-2024
We've Destroyed the US Dollar and Time is Running Out to Save it: Art Laffer
Daniela Cambone: 10-17-2024
In this conversation with Daniela Cambone, Dr. Arthur Laffer discusses various aspects of the economy, focusing on the implications of debt, trade policies, the future of the US dollar, monetary policy, and the impact on the middle class.
He emphasizes that debt is a tool that can be used effectively if managed properly, critiques current trade policies, and argues for the importance of a stable dollar and sound monetary policy.
Laffer also highlights the need for a flat tax system and discusses the challenges facing the middle class in today's economic environment.
CHAPTERS:
00:00 Debt is a tool, not the problem.
5:13 Trump’s tariffs plan
10:05 De-dollarization
13:17 The strength of U.S. dollar
14:39 Threats that the U.S. dollar is facing
15:34 Return to the gold standard
17:00 What should Powell be doing?
19:45 Lift the American middle class
21:34 U.S. debt
41:10 Illegal immigration and border security
43:47 Final takeaways
ALERT! THE WORLD ECONOMY IS FREEFALLING FASTER AND DEBT SATURATION IS MAKING IT WORSE.
Greg Mannarino: 10-17-2024
Citigroup Sounds The Alarm On TOTAL Economic Collapse, Chase Bank Warning
Atlantis Report: 10-17-2024
As we end 2024, the ominous tune of a banking collapse looms large over the once-mighty Citigroup.
From its inception in the late 20th century, where it pioneered modern banking services, automatic teller machines, and credit card offerings, Citigroup has witnessed a relentless downward spiral since the housing crisis and financial meltdown of 2008.
Now, a collapse is nearer than ever before. Citigroup, one of the world's leading banks, has made a shocking announcement about the looming threat of a complete economic collapse.
This alarming forecast comes amidst growing concerns over the state of the labor market, which has shown signs of deterioration that could have far-reaching consequences for the nation's economic stability. The warning has prompted governments, corporations, and individuals to prepare for an unprecedented economic calamity.
Before 2007, Citigroup stood prominently among the elite financial institutions in the United States, consistently delivering robust returns to its steadfast shareholders through both appreciating share prices and generous dividends.
However, the culmination of the housing boom and the subsequent financial crisis pushed Citigroup to the brink, necessitating government intervention to navigate the resulting losses. Subsequently, Citigroup's stock struggled to regain its pre-crisis momentum, failing to recover from the setbacks of 2008.
Chase Bank and Citigroup have raised red flags, signaling a deep-seated issue within the banking sector. Nine percent of all bank branches in the U.S. have shut down since 2017. Earlier in the month, Citigroup informed the majority of its employees that they could work remotely for the final two weeks of December.
Workers are allowed to log in remotely from any location within their country of employment from Monday to December 29, a Friday, marking this week as the last in-person experience for many staff members this year, according to sources familiar with the situation.
In contrast to last year when the perk was introduced, employees are now apprehensive about CEO Jane Fraser's comprehensive corporate reorganization, with some expressing concerns about the potential existence of their jobs next year. Citigroup has indicated that Fraser's assessment of the third-largest U.S. bank by assets will be concluded by the end of 2024.