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On Sunday, DML NEWS APP and TeamDML founder, Dennis Michael Lynch, posted an scary set of predictions on his Facebook page. Most of it focusing on the economy, and what happens if Kamala Harris wins the election.
DML held nothing back, and said he will announce on his podcast Monday how he will personally plan for the downfalls he believes are coming.
Below is his post:
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. For example, A.I. stocks have been the darlings of Wall St. The honeymoon is over. 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.
Regardless of the election,
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.
Regardless of the election,
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.
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.
PS. 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.
