Technocracy cannot flourish until capitalism and free market economics die a permanent death.
The economic meltdown that is coming should not be a surprise to anyone.
Tax revenues are way down, demand for trucking services is way down, demand for cardboard boxes is way down, the money supply is shrinking at the fastest pace in modern history, and the Conference Board's index of leading economic indicators has already declined for 15 months in a row.
Truck freight volume and spending in the second quarter of 2023 declined by the highest levels since the early days of the pandemic, the latest U.S. Bank Freight Payment Index revealed.
4 U.S. employers have already announced more job cuts this year than they did in all of 2022, and the hits just keep on coming.
The delinquency rate of commercial real estate mortgages on office properties that had been securitized into Commercial Mortgage-Backed Securities spiked to 5.0% by loan balance in July, up from a delinquency rate of 2.8% in April, having now spiked by 2.2 percentage points in three months, by far the biggest three-month spike in the data going back to 2000, and by 3.4 percentage points so far this year, by far the biggest seven-month spike, according to Trepp, which tracks and analyzes CMBS. #7 The share of the U.S. population that cannot even afford "a $400 emergency expense" just continues to go up.
Our financial institutions are far more vulnerable than most people realize, and the cyberattacks that we have seen so far are just a small preview of what is coming.
https://www.technocracy.news/the-coming-death-throes-of-capitalism-and-free-market-economics/
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