WORLDWIDE COLLAPSE ARRIVED TODAY
Good morning. Today is Aug 5.
I am covering the stock market collapse, wars looming, UK riots, poll about Trump’s attacks on Kamala, Trump golf cart parade, VP time, illegal kills a girl, the Adventures of DML, plus so much more. Please share!
I. THE DML REPORT
I CALLED IT RIGHT. SADLY.
Today, is not a good day for anyone, anywhere. Allow me to start off by sharing what I wrote on Facebook yesterday afternoon.
MY FACEBOOK POST 8/4…
I wrote the following:
WARNING: I have a pretty good track record for forecasting certain things. I am managing my businesses, personal expenses, and investment strategies based on the predictions below. Tomorrow on The DML PODCAST, I will share what I am doing. For now, here is what I see:
REGARDLESS OF THE ELECTION, TOMORROW WE ENTER THE PERFECT STORM: The stock market is waiting to implode. This week, there will be a significant slide. Additionally, the economy is slowing down fast. All in: Within the next few weeks, the markets will tumble real hard -- get ready for one of the single worst days in stock market history. The Fed will lower rates in September, and there will be a slight bump, but it will not last.
IF KAMALA WINS: As it is, the unemployment rate is worsening, hiring is slowing, companies are cutting back and so too are consumers. If she wins, keep in mind she is vowing to lift taxes on businesses by as much as 16%. This will cause the sort of economic gloom that lasts a decade. Misery will accelerate at lightning speed. People will lose jobs with no new opportunities, and companies will put out lame earnings for years. If Harris wins, the bottom is bottomless.
HOUSING: The housing market is a house of cards, and it will not benefit from the lower rates until they are near zero. Problem is, if Kamala wins, the banks will not want to lend to anyone who does not have an iron clad job and a 780 credit score. Most Americans are too deep into debt to borrow more, so the sellers will be screwed. Buyers will be only those with deep pockets -- mostly investors -- and they will want to steal the properties. A major housing correction is in the works -- expect it real soon -- and I expect it to last for many years if she wins. Rentals will suffer too. People won't be able to pay the rent. Defaults are going to be insanely bad.
BANKING: The credit card debt is a bomb ready to go off. Get ready for small local / regional banks to crumble. Defaults on credit card payments will be massive real soon. This will set off a 2008-like slide in every sector, especially if Harris is in office.
INFLATION: The cost of goods will not improve until mid 2025, at best, and if Harris wins it remains a pitfall as there will be no new production.
THANKS TO JOE: We are so vulnerable right now, it is hard to explain why we have not been attacked already. I suspect we will soon go to war, only we are ill-prepared and I fear our spine is weaker than ever before if Harris wins.
If I was Putin, Iran, or China, I would be striking tomorrow. So, get ready, with all the terror we've allowed through the border, our version of Oct 7 is coming. It will not be as big as 9-11, but it will be the start of a new era of small attacks that are near impossible to stop. This is the price we pay for the liberal policies that our country have permitted to take shape.
If Trump wins, some of what I wrote above will happen, albeit in lighter forms and shorter periods of time. But make no mistake, there is a price to be paid for the past 3.5 years, and we are about to pay for it even if your credit card is in default and your bank account reads $0.
My wife just asked me why would Putin do a hostage swap? Simple answer, and one you won't hear anywhere else. Answer: Because it makes Biden / Harris look good. It gives them a story to sell right before the election. Putin wants / needs Harris to win. He does not want Trump.
(END OF POST)
TODAY
The news that has come out since I posted on Facebook is scary. Not only does it prove that I am clairvoyant, but more importantly, it signals that we are in massive trouble.
- WALL ST
By the time you read this, you'll be spooked by how accurate my prediction was. Today, stock markets worldwide have plunged into free fall. Japan, India, Europe, and now Wall Street. As I write this, US equity markets are poised for a massive decline at the opening bell. The 10-year Treasury yield has dropped to its lowest level in over a year amid growing recession fears. Today will be a day to remember, or more accurately, a nightmare you'll want to forget. And things aren't looking up. Warren Buffett, the world's most famous investor, is selling off his stocks, including cutting his Apple holdings by 50%.
- JOBS
On Friday, the jobs numbers missed by a wide margin. It was expected that 185,000 new jobs would be created, but only 114,000 were added. Layoffs are being announced everywhere, it seems. For instance, Intel announced on Friday that it is laying off a staggering 15,000 people, leading to a 30% drop in its stock—the worst decline since the 1980s. Furniture retailer Wayfair also reported on Friday that it hasn't witnessed such a rapid slowdown in furniture sales since the 2008 collapse.
- HOUSING
According to the National Low Income Housing Coalition (NLIHC), more than half of U.S. workers cannot afford to rent a one-bedroom apartment while only working one full-time job. Now, cities across the U.S. are seeing more tenants removed from their rentals. In 2023, the number of evictions exceeded 1 million. This year, it is expected to be even worse.
- DEBT
The Achieve Center for Consumer Insights, surveyed 2,000 consumers with active accounts across categories of consumer debt, including credit cards, mortgages and home equity lines of credit, and auto and student loans. During the third quarter, 36% of consumers said it is very difficult or difficult for them to pay their recurring debts on time, an increase from 31% in the second quarter. Job loss or reduced income was the leading reason consumers said they have recently fallen behind on their bills. Over half (57%) of respondents in Achieve's survey said they are carrying a credit card balance to cover the cost of essential expenses, including 27% who said spending on living expenses has accrued on their credit card balances for more than six months.
Recently, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo all raised their provisions for credit losses from the prior quarter. These provisions are the money that financial institutions set aside to cover any potential losses from credit risk, including delinquent or bad debt and lending, like commercial real estate (CRE) loans. A recent analysis of household debt by the New York Fed found that Americans owe a collective $17.7 trillion on consumer loans, student loans, and mortgages. Credit card issuance and, subsequently, delinquency rates are also on the rise as people’s pandemic-era savings run out and they rely more and more on credit. Credit card balances totaled $1.02 trillion in the first quarter of this year, the second consecutive quarter where the sum of all cardholder balances exceeded the trillion dollar mark, according to TransUnion.
- WAR
UKRAINE / RUSSIA: Flanked by two U.S.-made F-16 aircraft, Zelenskyy announced on Sunday that the country’s air force had already started operations using the warplanes against Russia. This will not go over well with Putin.
IRAN / ISRAEL: Iran has rejected attempts by the US and Arab nations to de-escalate tensions in the Middle East, as Israel braces for an attack from the Islamic Republic and the Lebanese Iran-supported Hezbollah, saying they would strike the Jewish state even if it means war, the Wall Street Journal reported on Sunday.
Foreign ministers from Jordan and Lebanon traveled to Iran in an attempt to diffuse the situation, but Iran told the Arab diplomats that it was set on striking back against Israel and “it didn’t care if the response triggered a war.”
CHINA / TAWAIN: Japanese fighter jets were scrambled on Saturday as two drones—presumed to be Chinese—were recorded circumnavigating the self-ruled island of Taiwan via a strategic waterway for the first time. Tokyo's Defense Ministry reported the movement of the drones and a Chinese Y-9 intelligence gathering plane within Japan's air defense identification zone (ADIZ), an area of international airspace where tracking and identification of aircraft is required for national security purposes.
My Thoughts
Hold on folks. It is about to get very bumpy, and it’s going to leave you with severe head and stomach pains. These are the kind of pain that only an election win can fix.
POLL OF THE DAY
POLL: Do you want Trump to stop the name-calling and insults of his opponents?
Take the poll , click here
Yesterday’s poll results: Do you support Trump’s proposal to end Social Security taxes for seniors?
Yes - 99%
No - .5%
Unsure - .5%
II: WHITE HOUSE 2024
TRUMP 2024
THE VILLAGES
The retirement community of The Villages in Florida has not fully embraced Kamala Harris. While a group of Democrats held a golf cart parade last weekend to show their support for Harris, Trump supporters organized a parade of their own this weekend, making it twice as large.
The Villages MAGA Club showcased a massive rally on Saturday with over 1,000 golf carts in support of Donald Trump. This turnout dwarfed the previous week's parade organized by the Democrats of Sumter County, which saw around 500 golf carts supporting Harris, the new Democratic presidential candidate.
Tommy Jamieson, president of The Villages MAGA Club, expressed his excitement over the large turnout. "We wanted to prove that The Villages is Trump country, that Sumter County is Trump country, that Florida is Trump country, and so is the United States. So Trump, if you’re listening, we’ve got your back," Jamieson said.
For videos of the event, click here.
HARRIS 2024
THE VP
Kamala Harris is nearing the end of her search for a running mate, with an announcement expected within the next 24 hours and a video reveal likely on Tuesday.
On Sunday, Harris interviewed Arizona Sen. Mark Kelly, Pennsylvania Gov. Josh Shapiro, and Minnesota Gov. Tim Walz at the vice president's residence in Washington. Sources indicate that Harris may have also conducted virtual interviews with other potential candidates or plans to do so on Monday.
The Harris campaign vetting team has also considered Kentucky Gov. Andy Beshear, Transportation Secretary Pete Buttigieg, and Illinois Gov. JB Pritzker.
Harris is set to introduce her new running mate at a rally in Philadelphia on Tuesday, which will kick off a five-day tour across seven crucial battleground states.
My money is on Shapiro. The Dems have to show some sort of love towards the Jews considering they continue to toss Israel under the bus.
III: BORDERLESS
NO LICENSE
UNITED STATES OF ILLEGAL DRIVERS
An illegal alien with a history of legal troubles, including tickets for speeding and driving without a license, was ordered deported six years ago but never showed up for his case. He is now accused of killing a young Virginia college student in a tragic car crash.
Honduran national Elvis Jamir Cruz-Ferrera, 18, faces involuntary manslaughter charges for the death of 19-year-old Lauryn Ni’Kole Leonard, an Old Dominion University student.
The incident occurred on Interstate 664 in Chesapeake, where Leonard was driving her gray 2000 Toyota Solara back to her Norfolk apartment. Cruz-Ferrera's red 2008 Pontiac Vibe crashed into her vehicle, causing both cars to hit the guardrails. Leonard was killed on impact, while Cruz-Ferrera survived with minor injuries.
In the months before the crash, he had several traffic violations, but authorities did not check his immigration status during those stops.
IV: BROKE, WOKE, & TRENDING FOLK
TRUE.NEWS
DML NEWS APP
HEADLINES
The stories you need to know this morning: One click to read them all.
HEADLINES:
1. Japanese yen surges to 7-month high as U.S. economy worries mount
2. Goldman Sachs economists raise ‘limited’ risk of US recession to 25% chance
3. Harris Spent Her Entire Senate Career Opposing Border Security
4. Vance: ‘Weird’ Label ‘Projection’ from People Who Want to Give Transgender Hormones to 9-Year-Old Kids
5. Dem dark money fuels ‘nonpartisan’ climate group behind swing state ads
6. Students gearing up for round 2 of pro-Palestinian protests
7. Chinese-made humanoid robots raise alarms in Congress
8. The Vatican Decries ‘Offense Done’ By Opening Ceremony Of Paris Olympics
9. Algerian boxer makes 4-word declaration on gender after latest Olympic win
10. Hurricane Debby makes landfall in Florida
11. UK riots. Locals go head to head with Muslim migrants (videos)
CLICK HERE TO GET ALL THOSE STORIES ON ONE PAGE
V: THE ADVENTURES OF DML
CRAZY NANCY
Yesterday, I was reminded of the photo I took years ago while in San Francisco filming my homeless movie, UNITED STATE OF TENTS. I landed on a street named after the radical lefty and thought I would lose my mind. Yesterday, Nancy Pelosi made me lose my mind again by suggesting that Joe Biden should be added to Mount Rushmore, describing him as a 'Mount Rushmore kind of President.'
I NEED YOUR HELP
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MY PODCAST TODAY
On my podcast today, I will be interviewing Harlan Hill, former Trump surrogate and a friend of mine from the Newsman days. If you’d like to watch, please become a member of TeamDML for just $30 per year.
Send me your feedback: Email me at WeTrustDML@Gmail.com
TAKE ACTION
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Until tomorrow morning, I thank you for your support.
God bless you all,
— DML