As people continue to digest breaking news from around the world, some time ago the Godfather of newsletter writers, 90-year-old Richard Russell, discussed the war against deflation, the horrors of war and what he was telling his subscribers to do. Included in this piece is one of the most tragic images you will ever see.
Richard Russell: “Monday is Memorial Day, the day in which we show our appreciation to the hundreds of thousands of men who have died in America’s wars. My family on my father’s side has fought in all of America’s major wars, from the Revolutionary War to the Civil War to World War I and World War II. Last night I watched Ken Burns’ amazing documentary, The Civil War.
Casualties and deaths during the Civil War were astounding. During the Civil War, two percent of the population of the US died. Of the deaths in the Civil War, two out of three were caused by disease or infection. I don’t think I’d ever call the world civilized until men cease killing each other in wars.
One of the most tragic images you will ever see is that of the sad young girl (below) who is comforted by her brother as she mourns at her father’s grave. Her father lost his life in the Iraq War at the young age of 30, leaving behind his wife and children. The distraught young girl can be seen clinging to her father’s tombstone on Memorial Day — a tragic image and a harsh reminder of how the horror of war impacts so many lives.
The War Against Deflation
I’ve said all along that the Fed will not tolerate deflation, and that it will do whatever it takes to keep the US economy from deflating. On this basis I do not expect the Fed to raise rates this year or next, and it would not surprise me to see the Fed bring in QE4 or something like it.
In its effort to ward off deflation, I expect one of the following to occur: the government will announce make work programs as per the 1930s, where millions of men were put to work under the auspices of government programs to build post offices and freeways and bridges as they sought to build America’s infrastructure. The second program I expect is an all-out multi-trillion dollar program to build up America’s military, including its Navy and Air Force. The Great Depression of the 1930s ended with the lend lease program and the military buildup prior to World War II.
***KWN has now released the powerful audio interview with Gerald Celente where he discusses trend forecasts for the back half of 2019 and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***Also just released: Greyerz – Don’t Be Fooled By The Pullback, Gold Is About To Spike Above $1,350 On The Way To $1,600 As Stock Markets Crater CLICK HERE TO READ.