One of the world’s largest hedge funds is sounding the alarm over “dishonest” policymakers like Joe Biden and the Democrats on Capitol Hill, warning their policies could lead to a “societal collapse”
Elliott Management, a Florida-based firm founded by billionaire Paul Singer, said in a letter that the world could be facing the worst period of hyperinflation in modern history due to the careless policy decisions made over the last few years by the Biden administration.
The fund warns that there has been a “possible a set of outcomes that would be at or beyond the boundaries of the entire post-WWII period.”
“Investors should not assume they have ‘seen everything’” just because they’ve lived through numerous other financial crises, the letter continued. The idea that “‘we will not panic because we have seen this before’ does not comport with the current facts.”
The fund points out that the problem has been fueled by the “dishonest” politicians pulling the strings, who have flat-out lied about what is really causing the inflation numbers we are seeing.
The Democrats have laughably claimed they are trying to “reduce” inflation, while printing trillions of dollars more in the process.
In one example, the Democrats passed Biden’s $1.9 trillion American Rescue Plan, which even top Democrat economists acknowledged was the “least responsible” economic policy in 4 decades. Liberal media outlet Vox made the admission that many economists “agree that the stimulus law did worsen inflation by giving people more money to spend.”
It’s policies like this, according to the firm, that have put the world “on the path to hyperinflation” and that skyrocketing inflation rates could cause “global societal collapse and civil or international strife.”
The letter warned that the “frightening and seriously negative possibilities” that exist make it so that experiencing a 50% market drop is now a realistic possibility.
Meanwhile, the White House has continued to deceive the American public into believing there is no recession, an irresponsible and politically motivated effort which could have serious implications for American families who are not adequately prepared for what’s to come.
White House Chief of Staff Ron Klain ignored the consecutive quarters of GDP contraction which typically indicate a recession, saying, “We are not in a recession. I want to be really, really clear on that,” Klain asserted. “The economy is growing, it is strong, it is creating jobs.”
The polls show that voters are concerned with the economy and inflation above all else – two areas where the Democrats are doing particularly terrible jobs – which is exactly why they want people to think the economy is doing just fine.
But their plan to sweep the dying Biden economy under the rug is not working out too well for them.
Republicans lead Democrats by a double-digit margin concerning trust in handling the economy and voters hold Biden at fault for the fledgling economy. A recent survey found that roughly 43% of respondents reported that their finances are worse than two years ago. Among those who reported worse finances, 69% placed “at least a moderate amount of blame” on Biden, while 71% placed blame on Democrats in Congress.