Housing market

[harddriver]

Oh yes, he's absolutely right that we didn't have a natural recession by any measure. It would have been much faster and better had the banks not be bailed out. It just allowed for lots of people to borrow at low rates and thus got us into this mess we are currently in. People think those rates are "normal" but they were not, and they lasted over a decade.

It has been argued that main street never truly left the recession of 2008/09. It's was just papered over with quantitative easing. We keep hearing that eventually the economic laws of large numbers regarding the US servicing it's debt leading to bankruptcy/default will ultimately come due.

I believe the GREAT RESET is still in play by our controllers.

 

[Geo]

I'd rather live in California.

NJ was only beaten by Ohio #1 and Michigan #2 in terms of the most horrible tourists. That was a consensus reached with my boss, whose family was all from Ohio.

I don't have much knowledge about Ohio but probably like NJ, has a ton of potential if it weren't for their communist leanings.

 

[BABMusic]

I had little faith in our country after that debacle. Then 9/11 happened and I knew we were gone.

Yeah, I mean if the bailouts had not happened, I would have lost some of my money as I had money in one of the big banks (stupid me). It would have been a much better recovery for our country, but I would of course been pissed if it happened. A lot of that bailout money of course went to the wrong people as well. People now are showing that banks are facing a lot of unrealized losses. We shall see how that unfolds.

 

[BABMusic]

I believe the GREAT RESET is still in play by our controllers.

I believe they're trying. We shall see if they succeed. Glad to see you're awake.

 

[VonBonfire]

I don't have much knowledge about Ohio but probably like NJ, has a ton of potential if it weren't for their communist leanings.

It used to be one of the greatest states until globalists took control and shut down/sold out all the industry there. Now it's the rust belt. The net result is destroyed careers, families, homes lost, drug addiction and alcoholism, and mental illness. The same thing happened in Michigan with the auto industry. Look at Detroit. It used to be an amazing place.

 

[Geo]

Yeah, I mean if the bailouts had not happened, I would have lost some of my money as I had money in one of the big banks (stupid me). It would have been a much better recovery for our country, but I would of course been pissed if it happened. A lot of that bailout money of course went to the wrong people as well. People now are showing that banks are facing a lot of unrealized losses. We shall see how that unfolds.

The "too big to fail" shit was beyond frustrating. Capitalism died that day as far as I was concerned. We entered economic fascism.

Although no bankers were punished, I do believe they tightened loaning policies.

 

[Geo]

It used to be one of the greatest states until globalists took control and shut down/sold out all the industry there. Now it's the rust belt. The net result is destroyed careers, families, homes lost, drug addiction and alcoholism, and mental illness. The same thing happened in Michigan with the auto industry. Look at Detroit. It used to be an amazing place.

Was that because of NAFTA?

 

[VonBonfire]

Was that because of NAFTA?

I think it dates back to globalist policy post WWII. By the end of the 60's US might in manufacturing had reached it's end. Everything goes downhill when you outsource the job of the common man. I was just in Helena AR. The city looks like a small town warzone. Mostly abandoned buildings and broken glass downtown. Mohawk tire was the last manufacturer to depart, in the late 70's. The only thing that happens in town there now is the King Biscuit blues fest...

 

[Geo]

I think it dates back to globalist policy post WWII. By the end of the 60's US might in manufacturing had reached it's end. Everything goes downhill when you outsource the job of the common man. I was just in Helena AR. The city looks like a small town warzone. Mostly abandoned buildings and broken glass downtown. Mohawk tire was the last manufacturer to depart, in the late 70's. The only thing that happens in town there now is the King Biscuit blues fest...

Our politicians really sold us out. Decoupling the dollar from gold and silver really fucked us. And now they just print money and hand it to all their buddies.

This country is really in a pickle, the youts are going to be handed a huge fucking mess of a country.

 

[VonBonfire]

Our politicians really sold us out. Decoupling the dollar from gold and silver really fucked us. And now they just print money and hand it to all their buddies.

This country is really in a pickle, the youts are going to be handed a huge fucking mess of a country.

100% agreed.

 

[harddriver]

The "too big to fail" shit was beyond frustrating. Capitalism died that day as far as I was concerned. We entered economic fascism.

Although no bankers were punished, I do believe they tightened loaning policies.

Ding Ding Ding.................................What we have is socialism for the 1% billionaires and crony capitalism for the the rest of us in which the corporations (in league with government with the lobbyist system) do everything they can to depress where the wages which should be in line with the true cost of living/inflation. I believe the course was intentionally set in 1971 when the dollar decoupled from the gold standard and the US government was allowed to utilize Debt/Deficit spending which congressional budgetary restraints would/should have denied.

It seems there are no enforceable budget constraints at this point in the game.

 

[Geo]

This is excellent.

 

[harddriver]

I think it dates back to globalist policy post WWII. By the end of the 60's US might in manufacturing had reached it's end. Everything goes downhill when you outsource the job of the common man. I was just in Helena AR. The city looks like a small town warzone. Mostly abandoned buildings and broken glass downtown. Mohawk tire was the last manufacturer to depart, in the late 70's. The only thing that happens in town there now is the King Biscuit blues fest...

The great manufacturing desolation started with NAFTA in 1994 and it never stopped. The US can't even replenish it's weapons without Chinese components and rare earth elements in this Iran War. Allowing this to happen was/is a national security issue, and it seems to have been planned for placing the US in the Thucydides trap.

If the plan was to de-industrialize the USA and make it a financialized welfare state that is no longer self sufficient, they have been successful. The US seems to be at the precipice.

 

[BABMusic]

Definitely an interesting time for bonds (debt). This guy George is not always right about his predictions, but he's interesting and has skin in the game.

 

[lol]

 

[BABMusic]

Peter Schiff warned that banks are sitting on more than 2 trillion dollars in unrealized losses because of mortgages. That's more than 4 times the debt that happened during the GFC. For this reason, he said the Fed cannot raise interest rates very much in the future. Remember Silicon Valley Bank? That would happen to a lot of the banks, he argues. I think he's right that we're facing much more inflation over the coming years, as there's no viable way to raise rates without banks imploding.

 

[BABMusic]

Someone is going to get one of those ARM and expect rates will drop to 2 or 3% when it expires. That's not going to happen.

 

[Geo]

Peter Schiff warned that banks are sitting on more than 2 trillion dollars in unrealized losses because of mortgages. That's more than 4 times the debt that happened during the GFC. For this reason, he said the Fed cannot raise interest rates very much in the future. Remember Silicon Valley Bank? That would happen to a lot of the banks, he argues. I think he's right that we're facing much more inflation over the coming years, as there's no viable way to raise rates without banks imploding.

Peter Schiff is one of those guys always predicting end of the world scenarios that never happen.

There is nothing the gobernment will not manipulate to keep kicking the can down the road.

I don't think we will ever see the major banks collapse. What we will see is lots and lots of inflation.

 

[BABMusic]

Mostly agree. He was right about 2008, but he's been wrong (or early) since then.

I do think your last sentence is probably going to happen. It makes the most sense, as the average person is clueless about why things keep costing more.

 

[Geo]

I feel like some of the real wealthy people bitch and moan because they are losing money or can't make what they are used to making.