The BIG FINANCIAL BANG just went off.
The original Big Bang started the universe.
This Big Bang ends the financial and economic part of it.
China started devaluing their currency this week.
Bubba don’t claim to be no genius, but he does have him a degree in economics.
That makes him just smart enough to be able to figure out which of these guys yammerin about the economy knows what he’s talking about.
Andy Hoffman has been getting it right for a long time and he called this devaluation months ago.
How smart does that make him?
Consider this from John Rubino, another guy who is not too shabby an analyst himself:
China’s surprise currency devaluation has sent the global markets into a tailspin, but rather than spiking on the sudden drop in a major trading partner currency, the US dollar is plunging against the euro and most other currencies. Why? Because a global currency crisis is just about the last situation in which the world’s major central bank would be expected to tighten.
Suddenly, traders are concluding that maybe rates won’t rise after all.
It wasn’t a surprise to Hoffman.
He said devaluation was imminent the weekend before it happened.
The end game is here in the currency wars and it’s all downhill fast from here.
There’s nobody who explains this better than Hoffman.
For more of his analysis listen to this;
We don’t really know what happens next because we don’t know how the government will react as this plays out over time. But we do know that things start changing significantly soon.
And in the end, we’re all likely a lot poorer.