BOXERS There are still a lot of problems

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Broderick Prifdy

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Aug 4, 2023, 8:42:50 AM8/4/23

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BOXERS There are still a lot of problems in the banking sector and commercial real estate is a big one looming in the background. Forget what the mainstream media is saying we are headed for big trouble. There are remains big problems behind the scenes in banking with roughly $600 billion in losses on bank bond books.

My sense is that the global economy is likely headed for a major recession. There is a massive debt overhang that will stifle growth for years to come if it doesn’t implode which would plunge the world into Depression. As I look around I don’t really see any cheap assets…yet. My guess is that by summer there will be some real bargains for the prudent investor. Cash will be our friend in the months ahead.

Markets are off their 2022 highs but still look like they’re in big trouble – global stocks, bonds, real estate, commodities, Crypto currencies like Bitcoin (Buy through Shakepay and get $10 to try it out), and even currencies like the Japanese Yen and the Euro are all signalling tough times ahead. All Western fiat currencies like the British Pound, Japanese Yen and the Euro are in big trouble. With a US banking crisis brewing my guess is that the mighty USD will fall further. The Canadian dollar will also likely fall big time with the Liberal government spending like drunken sailors and projecting deficits as far as the eye can see.