This article was originally published by Michael Snyder at The Economic Collapse
Have you ever thought about what comes after the bubble? In 2008 we got a short preview of what life will be like, but most Americans seem to have come to the conclusion that the last financial crisis was just a minor bump in the road toward endless economic prosperity. But of course the truth is that the ridiculously high debt-fueled standard of living that we are enjoying now is not sustainable, and after this bubble bursts it will be an extremely painful adjustment for our society.
Since the last financial crisis, the U.S. national debt has nearly doubled, corporate debt has doubled, stock valuations have reached exceedingly ridiculous extremes, the student loan debt bubble has surpassed a trillion dollars, we are facing the largest unfunded pension crisis in U.S. history, and in many parts of the country (particularly the west coast) we are facing a housing bubble that is even worse than the one that burst in 2007 and 2008.
And even with all of these bubbles, U.S. GDP growth has been absolutely anemic. Even if you believe the grossly manipulated numbers that the federal government puts out, the U.S. economy grew at a “miserably low” rate of just 1.6 percent in 2016…
In terms of GDP, the fourth quarter was revised up slightly, but there were adjustments for prior quarters, and overall GDP growth for the year 2016 remained at a miserably low 1.6%. We’ve come to call this the “stall speed.” It’s difficult for the US economy to stay aloft at this slow speed. As Q4 gutted any hopes for a strong finish, GDP growth in 2016 matched the worst year since the Great Recession.
And corporate profits, despite a stock market that has been surging for years, are even worse. A lot worse. They’ve declined for years. In fact, they declined for years during the prior two stock market bubbles, the dotcom bubble and the pre-Financial-Crisis bubble. Both ended in crashes.
Things have continued to get even worse early in 2016. At this point, it is being projected that U.S. GDP will grow at an annual rate of just 0.9 percent during the first quarter of 2017.
So anyone that tries to tell you that the U.S. economy is in good shape is simply not being honest with you.
But even though things don’t look great now, they are going to look far, far worse after the biggest debt bubble in human history bursts.
For example, what do you think that America will look like after half of all stock market wealth disappears? In a recent note to his clients, John P. Hussman stated that his team is projecting that by the end of this current market cycle “roughly half of U.S. equity market capitalization – $17 trillion in paper wealth – will simply vanish”.
And of course that projection lines up perfectly with what I have been saying for quite a while. In order for key measures of stock market valuation (such as CAPE, etc.) to return to their long-term averages, stocks are going to have to fall at least 40 to 50 percent from their current levels.
As this coming crisis unfolds, other asset classes will experience astounding downturns as well. This week, Morgan Stanley (one of the too big to fail banks) released a report that said that used car prices “could crash by up to 50%” over the next several years…
For months we’ve been talking about the massive lending bubble propping up the U.S. auto market. Now, noting many of the same concerns that we’ve highlighted repeatedly, Morgan Stanley’s auto team, led by Adam Jonas, has just issued a report detailing why they think used car prices could crash by up to 50% over the next 4-5 years.
Housing prices are primed for a major plunge as well. This is especially true on the west coast where tech money and foreign purchasers from Asia have pushed home values up to dizzying levels. Half a million dollars will be lucky to get you a “starter home” in San Francisco, and it was being reported that one poor techie living there was paying $1400 a month just to live in a closet. Many believe that some cities on the west coast will be quite fortunate if home values only go down by 50 percent during the coming crash.
Everywhere you look there are bubbles. In a recent piece, Daniel Lang pointed out some more of them…
- Eric Rosengren, the president of the Federal Reserve Bank of Boston, recently made a startling tacit admission. We may be in the midst of yet another real estate bubble. Major financial institutions in this country are in possession of over $14 trillion worth of residential real estate loans. That’s well over $40,000 for every man woman and child in America.
- Low interest rates have fueled a bubble in subprime auto loans, and that bubble appears to be reaching its limits. There are now over 1 million ordinary and subprime auto loans that are delinquent, a number that hasn’t been this high since 2009.
- There is now well over a trillion dollars worth of student loan debt in this country; much of it owned by low income families. And there’s little hope that these students will ever see a return on their investment. That’s why at least 27% of student loans are in default. While more than one in four students are in default now, that number was one in nine a decade ago. And if current trends continue, there could be $3.3 trillion of student loan debt by the end of the next decade.
At some point the imbalances become just too great and the system collapses in upon itself.
In other words, we are heading for a massive implosion.
And once the implosion happens, people are going to go absolutely nuts. Anger and frustration are already rising to the boiling point all over the country, and it isn’t going to take much to push millions of Americans completely over the edge.
In a recent interview with Greg Hunter, author James Rickards warned that when things get really bad in America we could actually see what he refers to as “money riots”…
So, could we be facing a “Mad Max” world if the financial system totally crashes? Rickards says, “In ‘Road to Ruin,’ I talk about what I call the money riots. There is a lot of reasons for rioting. When you start shutting banks and the stock exchange and they say you can’t get your money, it’s only temporary, trust us, people will go out and start to burn down banks. The government is ready for that also with emergency response and martial law. . . . Governments don’t go down without a fight. . . . You can see the shutdown coming because they will try to buy time until they come up with a solution, whether it’s gold, Special Drawing Rights (SDR), guarantees or whatever it might be. There are only two or three possibilities here, but all of them will take time, and they will have to shut down the system. . . . People will not sit for that. So, that means people will riot. They’ll burn down banks. They will smash windows, but what is the reaction to that? The answer is martial law, militarized police, actual military units and you get something that looks like fascism pretty quickly.”
I very much agree with his assessment.
All it is going to take is another major financial crisis and this nation will go completely and utterly insane.
Unfortunately, all of our long-term economic problems have proceeded to get a lot worse since the last time around, and so when things fall apart this time we will likely be looking at a scenario that is absolutely unprecedented in American history.
A lot of people have become very complacent out there these days, but that is a huge mistake.
Just because a crisis is delayed does not mean that it is canceled. And because our leaders have kept making this economic bubble larger and larger, that just means that the coming crisis will be even more painful than it otherwise could have been.
Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.
Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream.
If you want to know what is coming and what you can do to prepare, read his latest book [amazon text=Get Prepared Now!: Why A Great Crisis Is Coming & How You Can Survive It&asin=150522599X].
Related:
Thousands Of Americans Are Fleeing The Big Cities In Preparation For The Coming American Apocalypse
Pensions Will Be Wiped Out In America: “Perfectly Primed For the Greatest Financial Disaster”
Fire sale/buying opportunity/reality based true market pricing,hence,the deals will probably then be even better!
What follows? “The Reckoning”.
“What Is America Going To Look Like When Stocks, Home Prices And Even Used Cars All Crash By At Least 50 Percent?”
It will look about the same. A bunch of knuckle dragging morons walking around with a stupid look on their face….
Eh hell I’m bored so here’s a prep tip for ya…
Wild lettuce is like a mild opiate for pain and sleeplessness. Lactuca Virosa (Wild Lettuce)is the type you want… https://www.worldseedsupply.com/product/lactuca-virosa-wild-lettuce-seeds/
Also white willow bark works well as a pain reliever (other willow bark works too. Take off some bark and scrape off the insides and make tea or grind and eat.
Rose hips grow wild and make a good barrier shrub. The berries contain a ton of vitamin C and other beneficial things. Make tea with ground berries (best if seeds are removed but not needed).
jammer all . commm testing
^^^ go to that site for some cool stuff! Also try skylighter . commm
Affordable night vision (with rifle mount) approved by Sgt. Dale and Genius!
sorry link here… ht tp://www.midwayusa.com/product/127268/bushnell-equinox-z-digital-night-vision-monocular-45-x-40mm-black-with-rifle-mount
you all know how to take out the space between the t’s.
BTW/ When Auto Manufactures talk about that Auto Sales Numbers are UP. What that really means is “how many Autos they placed on Car Sales Lots” and not actual numbers of cars sold to the public. Its all a fabricated sham to deceive the pubic and investors as to how glorious their management team is. Its all a sham.
Then Auto Dealers brag about how well they are doing and what a great inventory they have for selection. Inside in the back room the management sweats like pigs trying to figure out cleaver financing to unload these heaps of crap, rolling over underwater buyers into newer heaps of crap piling on the longer term financing to bank roll the sham.
The House of CARS is crumbling.
Last Thur. I took my old Honda to a shop to get some front end noise checked. they came back with an estimate that knocked my socks off. I said to hell with it and I found a truck I’m going to try to trade for. I need a truck worse than a minvan anyway. just do a trade and pay the difference in cash. I’m not playing the finance game in this dying economy. Everyone keep stacking and praying.
Well said about the stacking and praying. Trump looks like he has aged 10 years since
taking office. That dude has the weight of the world on his shoulders. I’m not a big fan
of the guy but I am praying for him. I know mentally he is strong but with all of the
accelerating crisis around every corner lets hope he does not have a breakdown. Pence
should be able to help him with much. I hope.
The problem in America is all these Political Hacks in Positions that want America and Trump to fail including the MSM. Name one Politician that actually truly wants to make America great again for the people, besides Trump? Maybe Sen Paul Rand of KY.
All of these obstructionists and lefties need to be hauled out of congress and shot on the public square. Then hung by the light poles for all to see what will end up to you also when you keep with this obstructions pillaging hate of America. Trump needs to enlist and deputize 10 Million Gun toting Americans to hunt down these traitor political hacks and MSM types kill them off. That’s right, just like the 2nd Amendment says.
we only need to shoot ONE of them, and hang him/her from a lightpole in D.C…..with a few dozen thousand citizens guarding the body……betcha the REST of them fall in line real QUICK.
Get real.
We can’t even get rid of the congressional pedo rings or the pentagon pedo rings. We are no longer controlling this federal political machine.
9/11 building 7. Global aggressive war. State terrorism. Secret CIA prisons. Torture. Obama with forged credentials. Mainstream media so anti-American they appear to be supporting a version of authoritarianism (communist/fascist/et. al.).
Hard to tell if he’s aged with all the press using only the worst of photos taken of him to present in the public forum.
I honestly dont understand these people who run in those circles, why would anyone want to take that crap on? If i had made millions doing whatever, i would buy an island somewhere, and a small jet and call it macaroni,,,i guess they crave the spotlight, so not worth it
Anonymous, agreed. He is the only chance we have for peaceful change in this land. If anything happens to him, it will be GAME ON. I’ll be after libturds BIG TIME. I just hope in the meantime that his whole staff is helping the man all they can.
What’s it doing? What’s the diagnosis?
Google “Honda parts cheap” and go to town on it. Welcome to my world.
TG, it supposedly needs lower control arms and struts on both sides replaced. On top of that it supposedly needs a radiator and all hoses replaced. Supposedly a coolant leak somewhere that I can’t even find. It’s a 2000 Odyssey with only 125000 miles on it. I bought it from the original owner last year for only $1800 cash. Good engine and transmission. Could be a ‘mechanic’s special’ for someone. I really need a truck instead. Otherwise I would spend the money and run it a while longer.
Ebay has parts CHEAP! WAYYYY less than any parts store!
Eh,like to get parts locally,with some net hunting can basically get same pricing as ebay,a lot guaranteed for life.This only matters if ya’s do your own work obviously.
I would also get a more local opinion Brave,you don’t have skills/space/tools to do yourself ask all you know about locals,perhaps even your folks in BO land,may be cheaper in the sticks.Do though keep an eye on your anti-freeze and coolant gauge,you over heat it you then minumum probably warp the head,that WILL be a expensive job to machine and oversize head gasket/removal ect..
Stuts/control arms ect. if needed are basic higher mileage maintenance,so,rest of vehicle good keep an eye out on temp. and search for some pricing.
Warchild, I’ve just got the vehicle sitting parked for the time being. I made my decision final last night. I’ll just trade it for a truck. I need the truck worse than some ‘soccer mom’ set of wheels, LOL!
Brave; get another opinion or two…I don’t trust one….
Jim, I’m going to another shop with it this week. The first one gave me an estimate of $2000 with parts, labor, and sales tax. They can kiss my ass for $2000. In the meantime, still got to build the account back up no matter which way I go.
seriously, braveheart, i have worked on cars for a living for over 35 years…..you will NEVER get an honest opinion at a stealership….maybe even LESS often than that. take it to a SPECIALIST….someone that has a good reputation. E-V-E-R-Ything a dealer says must be taken with a grain of salt you would have to carry home in a wheelbarrow. i have owned 3 oddity’s and their durability is legendary. my customers come to me all the time after a trip to the dealer for warranty work with things “needing done” that i just DID!….that’s the taj mahal over there, and YOU will be paying for it…..they are criminals.
93 F-150 4×4 electric transfer case shifter: Parts store 400 bux…. Ebay 125 bux. 20 minute job and good as new. New wiper motor 35 bux…. New fan motor 30 bux… I can’t even imagine how bad a dealer would rape you for all that.
just remember, when you bring your own parts….even if they are the BEST parts, if you have a problem down the road(forgive the pun), you might not have much of a warranty….if yer part fails, it aint my fault, and i get to charge you for the second time fixing it….if I sold the part, and put it on….there aint no dodging the warranty….there’s a PRICE to pay for being cheap, sometimes.
Agree on buying parts on ebay.
I had a ’96 Corolla that had the A/C compressor go out. Most shops quoted me about $1500 to fix it. I went online and bought a compressor for about $250 and found a mechanic who would install it and get the system going for about $300. Got it done and drove the car 3 more years before I got rid of it…….and the A/C was still blowing cold.
Another source is Rockauto.com. Good price on parts and good selection as well. You can get OEM parts or after-market, depending on your budget and the quality of the parts you want.
The trick is to find a mechanic who will install those parts for you at a reasonable price.
I currently have a Ford F-150 that needs upper control arms and lower ball joints. I ordered all of them for about $150 at rockauto.com (Got premium Moog suspension parts, which are better than OEM) I’ll be taking the truck to my mechanic as soon as I can to get it put back in tip-top shape.
There are alternatives. Don’t just go to the first shop you come across……and avoid the car dealer service departments like the plague.
That’s exactly why I don’t buy old used fixer uppers. Its a money pit. I bought a brand new 2009 SUV, and paid it off within a few years, ONE OWNER- ME. and after 8 years of driving it the only repairs I have had were 2 wheel sensors that I replaced myself for about $40 total and 2 new tires.
I’ve been driving this new like vehicle for free for 5 years, and its only got 39,000 miles on it. I change the oil myself after about 6000 miles each time with Valvoline synthetic, and keep up on all fluids. I just washed and waxed it my self and armour-all’d the black trim and tires, and took a few photos. Its looks brand new like the day I bought it. I just can’t see trading in and out of cars and all the new registrations you have to buy and plates. If you like to tinker your life away, keep buying junk. If you want a dependable auto to drive, get a newer vehicle or at least just a year or 2 old which still has warrantee. I buy new vehicles then drive them up over 100K miles and sell them to dopes who like to tinker, because all the major repairs are coming after I get rid of them. To each his own.
BTW/ For OPSEC reasons, I won’t say what my vehicle is, but it is holding about 80%+ of the original new value purchase price from 2009. And the newer versions went way up in price. It is a popular vehicle and easy to repair and is my work horse pulling trailers etc. So when you do the math, I drive new vehicles on the cheap. And moving to the Country out of the city, my Auto Insurance Mo Premiums dropped 30%. Another savings. So do the math. I buy vehicles to drive, not fix.
Buying an old used car, is like buying someone else’s broken down used condom. You never know what you will catch. They are selling it for a reason, mostly not in your favor. I see no reason to buy someone else’s problems.
Year 2007 bought a 93 F-150 4×4 for 4000 bux. It had 140,000 on it. I replaced all the parts that normally wear out in that mileage, radiator, hoses, water pump, alternator, starter, and a good tune up. Total cost about 500 bux. That truck now has 240,000 on it and runs like a champ. New a truck like that is about 36,000 bux. I can repair most everything myself. Oh also had my friend rebuild the tranny 1600 bux. So tell me again how 6100 bux vs, 36,000 bux is stupid? I didn’t think so lol.
I want a older vehicle that anyone including meself can work on,no computer garbage ect.That said I have a nice truck that doesn’t look like every other truck out(i.e.60-70’s) there.I can find a decent body tis easy for me to throw in a new crate with some extra goodies/pull tranny and swap for rebuild ect.I will come in way lower than a new/used truck price by a long shot.You don’t want to go that route but like older stuff for 10-12 grand will get a mint older truck that maintained which is easy will give you many years of trouble free miles.
That said,got a ford ranger for free,put on a new valve cover gasket and a year later full brake job,ran it as a side vehicle for 5 years and sold it.You know what you are doing and tight on monies a low priced vehicle checked out can work fine.
Welcome to my world?!Genius,stop using google!Linux OS with a decent browser at minimum!Oh,and remove all cards/blue tooth/wireless on any off line computers,otherwise,are you REALLY offline?!
i said goodby to google and now use duckduckgo
This is where our parents fail our children and don’t teach frugality.
My car is 13 years old. It’s been paid for since 3 years old.
Now, instead of buying junk or freebies, I use a part of that payment monthly to save for repairs.
So far, all I needed was a battery and brakes.
I was young and did drive that IROC. Can’t argue that.
But, now is different.
With kids living in closets?? Times are hard.
All the houses here have new cars in the drive. How many have a month’s store of food?
I bet 0…ZERO!!
I wish the 2nd hand car prices “crash” really soon. I have cash on hand to replace 3 vehicles right now but their running costs are so low that I keep waiting for those deals.
All the “free” or “everyone qualifies” car loans really screwed up the prices and sooner or later it will have to reset.
Lurker, spot on about paying cash for a vehicle. Go ahead and pay it all right there on the spot. No stinkin car note or repo man to worry about. I only buy vehicles I KNOW I can afford. No overpriced vehicles for me ever.
“What Is America Going To Look Like When Stocks, Home Prices And Even Used Cars All Crash By At Least 50 Percent?”
A BARGAIN for those with ten dollar bills in number ten cans. Cash will be KING for those who have it, as I have schooled this community for years !!! 🙂
mushroom, is that you???
Yes sir. The one and only #10 advocate.
God bless mushroom…
I am “Son of Mushroom”. 🙂
DK, I saw that comment several times in your posts, but why 10 dollar bills in # 10 cans? Is it cause 10 dollar bills will spend easy and #10 cans aren’t metal detectable? Just a guess
Jack, it’s an old joke. #10 cans will rust out PDQ and your $10 bills won’t work as TP or anything else!
But $10 bills are good to stash somewhere safe, along with your $20’s.
$10 dollar bills in # 10 cans?? Its because they have not figured out yet, that Silver retains and preserves your wealth, and paper IOU’s depreciate every day. Some “GET IT” and the rest will never get it.
Any person who has been on this site for even a few months now should get it. The rest will be wiping their asses with #10 toilet paper soon. The World is dumping the Dollar. Connect the dots.
BTW/ in overnight Global trading Silver is up another $.13 cents to $18.31. Hi Oh Silver!!! Up Up and away!!
How much did your $10 dollar bill appreciate over night? lol
LMFAO!!! Silver is up 13 CENTS. How much profit is there after you pay a 5% commission on the $18.31 ???
Everyone should own what silver and gold they can afford AFTER their preps are in the cupboard. Cash will be very useful in a deflationary recession and it is the DE FACTO currency of the land.
That fact will not change without an EMP, CME, nuke war, or Yellowstone blowing. Try paying your public bills, like electric, water, or sewage with silver or gold if you live somewhere besides Arizona or Utah.
As a recreational prospector I don’t pay a price or a commission for my gold and silver. Its FREE wealth except for my time, and the cost to smelt them; which is pennies on the dollar. 🙂
Hah!The jokes on them,I saw em burying in the moonlight and dug up those cans before the rodents/moisture ect. got to em,hell,someone needs the money if not yous!
It’s the phase that Mushroom coined. The alliteration has a nice ring to it as it rolls off the tongue. Basically it just means you need to hold and hoard cash out of the banks, just as you do gold and silver.
Personally, I use empty plastic jars of peanut butter filled pretzels. (Yummy). Large plastic nut jars work well and cannot be located by a metal detector so don’t forget where you buried them.
Don’t bury them next to the gold and silver for example. My new White’s TRX pinpointer might find the metal, and your dollars at the same time. 🙂
Thanks for the heads up. I don’t keep much in the bank, bout 2k, enough for I house pmt and a few bills. I “forget” where the rest is. As far as my metal, it’s up, not down.
I’m of the opinion that one of the biggest factors that has caused the massive increase in new car prices is leasing.
It used to be the case that to buy a car, you needed about 20% of the purchase price in cash as a down payment. That helped keep prices down I believe. Imagine trying to come up with 20% on a $70,000 vehicle.
Now….with some leases, you have to come up with very little money out of pocket to acquire the vehicle. I remember leasing a car where I paid exactly $0 up front. I just signed the papers and drove away with the car………AND the payments are lower than if you were purchasing.
The market abhors a vacuum……or to put it another way, if the money is there to borrow without any skin in the game, then there is nothing to keep prices from going up to absorb that easy money.
Most people consider it something to be accepted that they will have a perpetual car payment….so they lease and turn the car in every two years.
I buy only used vehicles, and I only pay cash……..and I drive the wheels off of them. My last truck had 300,000 miles on it when I gave it to my daughter and son-in-law and was still going strong. My current truck is about to turn over 200,000 and is still going strong.
It’s almost always cheaper to fix them up than it is to buy a new one.
Bring on the depression! I’m hoping and praying for it. This artificial inflation is killing me.
Imagine “Grapes of Wrath” with the images of the Oklahoma farm families headed for Californee. You, your family, and all that you own loaded unto a truck that makes the one driven by Jethro on the Beverly Hillbillies look good. To make it worse, the Democrats will be blaming it on the Republicans. The higher you were before the fall, the harder the crash when you land! If you poor enough before, you might not notice any change. It won’t be good for most people.
Leaves me out. Don’t have a banjo to put on my knee….oh wait that’s Alabammy!
Ehhh, you can get by with overalls and billy bob teeth lol.
LOL Billy Bob teeth. The kind where you can eat corn through a picket fence.
http://www.drbukk.com/
I’m feeling it already. Finding and keeping a job is becoming an art form. A few years back
there was still an abundance of shit jobs. Now even those are becoming scarce. I thought
once I became debt free I was no longer a wage slave. WRONG. Still need money to try to
cushion for whats coming. It never ends until it ends. People want it to be over with and yet
they still want more time to prepare. Its like what Gunny Highway said in Heartbreak Ridge.
If you got your boots on, you’re ready.
You said it about jobs. That is the real indicator to me… How difficult it is to find a new job and the quality of the jobs… Lots of fast food jobs and customer service jobs but beyond that it is like trying to pan for gold, even if you have a degree, and the the competition and experience requirements… Smh.
Brian, I’ve been poor before, so I know how to adapt and improvise IF it happens to me.
@brian. “Imagine “Grapes of Wrath” with the images of the Oklahoma farm families”
only THIS time around, there’s NO RESPECT for eachother…..yeeees, imagine it INDEED.
I am going to apply for a dealer’s license. The only auto auctions worth going to are dealer only, everything else is where people get rid of cars that can’t be sold any other way.
If cars are going for 50% of usual at the lots, just imagine what will be happening at these auctions. Then imagine what will happen at those auctions when some of the larger dealers start to go down. We may be able to get something for 10% of retail.
Yep I agree everything in the title is overpriced. And this guy is predicting a crash? and another guy,s prediction is continued inflation? They both cannot be correct? If land get cheaper I would jump for joy. I would buy some more land. The Friggen DOW is above 20,000 last year about this time when it dropped below 16,000 these same doom peddlers predicted it would drop like a falling rock. They where wrong. The fact is no one knows what the future holds.
We really need to cut off all funding for Food Stamps, Welfare, Foreign Aid, Child care, Oil company subsidies, Farm subsidies, sugar subsidies, and any other form of Corporate welfare including the biggest welfare queen out there, the MICM Military Industrial Complex Mafia, and let them all stand on their own 2 feet.
The Government picks these losers for the BIG FREE BUFFET, and the winners (us hard working Tax Payers) have to subsidize these freeloaders. Had enough yet of this lopsided plundering and RAPE? I have.
Hmmm…. If the corporate welfare is cut-off then that will wreak havoc because there are too many companies that cannot survive without it. Just can’t see this happening because all the subsequent layoffs don’t fit with Trump’s JOBS-JOBS-JOBS cry.
“Make America grate again!!!”
Free gubermint cheese for everyone!
Good one! I’ll have some of that cheese with my “whine”.
That guvmint titty has a lot of stretch marks and the nipple is sore from all the suckas.
Bigguns are nice, unless they sag to er knees, then notsomuch
But I like cheap sugar! Just picked up another 150 lbs. With a lil’ govt. cheese I’m good to go! 😛
Ah! for the homemade candy operation.
Yes, I have a sweet tooth ya know 😉
Beats “hope and shaking you down for the change in your pockets”…
TG, I don’t ever play that ‘shakedown’ game with anyone. Anyone who considers ‘shaking me down’ had better forget it if they want to live.
Nov 22, 2016 0.7% Of Adults Control $116.6 Trillion In Wealth, Wealth Transfer Is Now Complete
Existing home sales surge prior to the election. The top .7% of adults controls most of the wealth in the world. The elite have completed the wealth transfer.
https://youtu.be/o3Uemg9nSj8
So……what about new cars?
Things will be MUCH better after the crash. It’s called a “correction.” The housing market MUST crash before an economic recovery can begin. Get you some FAZ and silver dollars and a depression proof skill. 6 + months supplies and bills paid ahead and you’ll do fine.
I know a car dealer on the south side of Chicago. He can sell the same car 4 times. They put GPS in the used cars and then the dealer writes the loans. If the buyer misses one payment, the dealer repos the car and resells it. Sometimes as many as 4 times. I don’t know how he hasn’t been shot yet.
Him, I know the kind of dealer you’re talking about. That’s the ‘buy here pay here’ lots. They do their own financing known as ‘in-house’ financing. No third-party lenders involved. The interest rate on in-house financing these days is 25%. It’s for people at the lower levels of the income ladder who can’t afford anything but 2nd-hand cars. I’ve had 2nd-hand cars all my life and it doesn’t faze me. I recommend avoiding those car lots if at all possible.
If the market goes down too much, pensions get wacked. That’s the big story about stocks.
Most pensions are already underfunded by 20, 30, 40%. 🙁
Most pensions seem to have signifcant bond holdings…
If you believe the public wave/private wave stuff, then it is government bonds turn to get hammered which is supposed to drive the stocks to even more rediculous heights. Doesnt matter which way it goes, its always the little people that get hurt.
Most pensions seem to have signifcant bond holdings…
Yep the pensions hold the Muni bonds, which the Bonds were sold to raise money to cover the pensions. Gee what possible could go wrong there?
So no COLA this year’s end?
Last I looked, Vancouver, BC was THE most expensive housing market in N. America. For a laugh, check out http://www.crackshackormansion.com Some enterprising guy has gone around taking pix of, say, a crack house in Appalachia, maybe worth $50 on the open market, then put pix of houses like that side by side with $1mm+ houses in Vancouver. **You cannot tell the difference!** (I can, having lived there for years, kinda tell from the greenery, but otherwise, you can’t)
This whole Keynesian stuff has done just dandy, hasn’t it! Thanks, leftists!
Yea, was listening to NPR, talking about dystopian novels and shows and why they are so popular now,,
Most of the folks were normal, then one caller, a so called professor from some university, she could barely make a complete sentance but spent 4 minutes spewing all her credentials, ?She said she made her classes read 1984 right after the election because it was so perfect in light of who was just elected,,,,
What was funny was right before her the person leading the piece was talking about how some of these dystopian novels were about people who had no idea how bad their society was and were woken up to it just as the reader was being woken up to how bad things were,,,
I thought how ironic, that an idiot libtard college professor feminist douche was the next caller saying she ordered her students to read a book that most of us have been noting the similarities of the book to the government under the former administration,,,, talk about a freakin clueless libtard bimbo,,,,,wow, and this is the kinda crap that is teaching college level literature,
Nailbanger, spot on about the libturd professors. NPR? And you managed to stay AWAKE? LOL! Back in my younger days, at night when I had trouble going to sleep, I would just tune in to my local whackjob NPR station on my bedside clock radio and in no time I would be asleep, LOL! I know it sounds crazy but it WORKS! In my old shortwave days, I used Radio Moscow World Service to go to sleep. That was during the Soviet era. Nothing like communist radio to help you sleep, HAHA!
“Major financial institutions in this country are in possession of over $14 trillion worth of residential real estate loans. That’s well over $40,000 for every man woman and child in America.”
This kind of crap really infuriates me. I have lived below my means my entire life. I have no debts and said “NO” to plenty while the folks mentioned in the article have been deeply irresponsible! So I am also responsible for 40,000?
That will be a very dark long and cold hard day!
Holy Crap. If one Chinese renminbi/ yuan is worth about 15 US cents, what the hell am I
doing here. I could live like a king over there for about a week. Maybe a month if I saved up.
Uh, for THAT to happen, the value of the dollar that they are priced in would have to double . . . how exactly does something double in value, when it has no intrinsic value, and they are printing them as fast as they can? Seems counter-intuitive . . .
Michael Snyder oh back to sleep, he is as bad a shill as Dave Hodges. Both of them zio-cucks
If used car prices drop by half, my driveway will look nicer next year. At half price, I might get two vehicles.
The crashing market, as bad as it may seem, is akin to an annoying fly that you want to slap, meanwhile completely ignorant of the Lion approaching at a dead run from behind.
Here’s another way:
We’ve all been dressed up in our expensive toys, leisurely lifestyle and freebies. Only to find out that we look more like fancy pinatas and the shadow of a big stick approaches.
Another quiet day in the land of the free range inmates.
Buy gold now. When these other assets crash, your gold will go further in its purchasing power.
I’m obviously dating myself, but there used to be a problem, with people reading Dewey decimals, and locating a book on a numbered shelf. We were taught that literacy was necessary, in order for us to be well-adjusted, socially, and to function in society.
Last night, I find that people can’t stock screws, in a hardware store. The job reportedly requires experience in the building trade. M is for metric, followed by 1,2,3, etc, for the number of millimeters…The obese, feminist, minority-member manager has no discernible job skills, besides to play pop music, over the intercom.
You’ve degraded people, to a point, in which they misunderstand fire, water, the hammer, and wheel. (All, true stories.) They are fed, clothed, and given putative, legal responsibilities, and think they have earned it, in stable way, which can provide for all times.
They’re “better” than you, and they’re endorsed by RINO’s.
Question? Why would I not want as much debt as possible on my home, cars, credit cards vs owing nobody? Just like the too big to fail banks got bailed out the 100 million plus people in massive debt will be too. What. The banks are all gonna take everyones cars and homes. That will cause a roving zombie mass pissed off and armed. No fema camps can hold 100m. Save my currency and metals and use it now for storing up on things i will wish i had vs that new tv or ice cream cone. Charge the tv pay cash for bullets etc. Am I making sense or being stupid? Owning stocks means I also own part of the company and can cash that stock in for different currency as well. The absolute beginninh of the real end is when they ban cash transactions. Thats my true verifier. Think that scenario through. They will triple the tax income they get and use it on idiocy programs like more refugees or increased welfare or may only cover basic welfare for the extra 100 million that went broke.
s said, “Why would I not want as much debt as possible on my home, cars, credit cards vs owing nobody?”
You’re able to “borrow” the property, but never formally own it.
In some neighborhoods, every last house has a for-sale sign, when the grace period ends.
I think there is an intentional process, where they get offered worse-and-worse terms, on each fraudulent loan, until they’re a burden of the state.
It’s possibly a means of owning someone, for life.
Lots of people, in my border state, do exactly as you say, they do skate-by for years, and do end up in some subsidized living situation,with some version of food, transportation, and shelter.
It’s also, probably a survival strategy of the very-rich, as well as very-poor, if we are to be honest, and take your question very seriously.
As well as physical property, it’s possible to buy stocks, on a loan. People, who we think are successful, are actually con-artists, reduced to begging and have been bankrupted, many times over.
I’m thinking of doing it, personally.
s said, “No fema camps can hold 100m…”
The purpose of camps is not for camping.