Brent Smith explains 1 step in strategy: The Fed having control of all digital currency
Is what we’re seeing in the economy “demand destruction” or something more? The short answer is that it’s something more and quite unique as far as I can see. What we’re beginning to live is “demand/supply destruction.”
We’ve seen demand destruction in the United States before and relatively recently, assuming you consider the 1970s recent.
As Glenn Beck reminded us recently, we saw demand destruction during the oil embargo of the early ’70s. He spoke of the huge cars produced by the big three American companies – Lincolns, Cadillacs, Buicks, etc. Then the oil embargo hit, driving gas prices out of sight, forcing Americans to find smaller vehicles that got more that 5 to 8 miles per gallon. The demand for big American cruisers was all but destroyed.
But today it’s different. Not only is the price of fuel skyrocketing, causing demand destruction like the ’70s, but simultaneously, the Biden administration is also busy destroying the supply of oil and gas.
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