Economic forecast 2024

Question: Can the masters comment on the economy for 2024? As some economists predict that interest rates will drop and there are speculators wanting the rates to go down so they can load up on more real estate, especially in Canada where Canadians are betting and hoping rates will go down so they can continue to speculate on real estate.


Answer from the Ascended Master Saint Germain through Kim Michaels. This answer was given during the 2024 Easter webinar.

Well this is one possible scenario. Interest rates are likely to go down in 2024, but of course the larger question here is the speculation in real estate. And this is a real problem for the economy in many parts of the world where speculators have been allowed by governments to create this bubble economy in the real estate market. And what has happened especially in some of the democratic nations is that a large part of the population have been pulled into this scheme where they hope that they can also speculate in real estate and make some easy money.

The problem is that this has reached a level where in most nations real estate has now become so expensive that people with normal jobs cannot afford to buy a house or even rent. And this is a real danger to the economy of many nations. And it is a real danger both in 2024 and beyond that it could create a crash in the economy similar to what you saw in 2008 again caused by real estate and speculation in real estate.

What unfortunately happens in these situations is as we have talked about in other dictations that the fallen beings start a certain trend, but then some among the population think they can get advantage of jumping on the bandwagon. And this reinforces the trend and now it becomes more difficult for a democratic government to step in because instead of just a small elite it is now a broad part of the population. Look for example how many people in certain nations have their pension plans invested in the stock market. But this is also a bubble that could burst.

So, we have what I have before called a gambling economy where it is all a matter of perception. And if perception shifts and people start unloading real estate then the entire system could crash. But the system can also crash or go through a crisis because you get to a point where too much of people’s disposable income is tied up in paying their mortgage or their rent or the interest. And therefore, they do not have the money left over for consumption and it affects other aspects of the economy such as manufacturing and retail and services and therefore, what we can call the real economy starts going down because of this bubble in the artificial economy.

And this is a real problem that in the coming years governments will have to deal with. And the democratic governments need to realize that it is their responsibility to prevent a small elite of people who already have more money than they could ever spend from creating these speculative bubbles that really hurt the economy of the broad population and threaten the economy of the entire country. So, this of course is a broader topic but it is clear that the majority of democratic governments have not fulfilled their responsibility to protect their populations against speculation by a small elite that already has more money than they should be allowed to have in a democratic nation.

 

Copyright © 2024 Kim Michaels