The Greatest depression is coming, are you ready?

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China’s Furniture Capital Is Finished! 3,000 Foshan Factories Close Before New Year

 

China’s Insurance Industry Undergoes Major Downsizing, Shutting Nearly 2,000 Branches
 
THEY LIED About The Foreclosure Crisis 10.7 Million STOPPED PAYING

 

China’s Most Desolate Lunar New Year, End-Of-Days Feel, Store Owners in Tears
 
Regardless of what you think about AI and robots and modern technology, the fact that is undeniable is that large multinational corporations do not need as much commercial real estate. This was painfully obvious during the Pandemic. A huge number of people come into the office, sit in a cubicle and work at a computer all day. Why can't they do that same work from home? The answer is they can. Likewise with AI, whether you think it will take 10% of jobs, or 20% or 50% the bottom line is there are going to be fewer cubicles and less demand for commercial real estate. Then you have Walmart and Amazon.com replacing the shopping mall. As the amount of online shopping increases the amount of the size of a retail footprint shrinks. Banks are able to pretend that prices have not dropped for a couple of years. But large multinational corporations have large staffs of accountants whose job is to make them as efficient as possible. They compete in a very competitive market. These companies will get rid of office space they don't need, it is an obvious way to make them more productive with a better return on investment.

Now this pressure to reduce office space is not going away. One solution I am familiar with is that the office workers come in to the office two days a week. This immediately means the company can get by on 50% of the office space. That is a very big savings and also makes the employees very happy.

The problem with all this is that the banks are going to be stuck with worthless commercial real estate. The size of the problem is big enough to cause massive bankruptcies of the banks across the country.
 

It's worse than 2008. WSJ reports massive collapse in home sales to worst level in 30 years.
 

3 MINUTES AGO: China CANCELS $690 BILLION IN US IMPORTS... What the hell is going on?

The US does not need to buy anything from China. Whatever we stop buying from them we can get from Vietnam, or Philippines, or India or S. Korea, or some other place. Whatever they don't buy from us will almost certainly be sold to some other country. We mainly ship raw materials and agricultural products and high end equipment. A lot of manufacturing is leaving China right now and will be relocating to another country or else will be replaced by 3d printers in the US.

This does not mean the US will not feel any pain, only that the pain China feels will be 10x worse than what we feel. China is already on the brink of social collapse so I don't think they can handle that pain. Also, the US is a customer, no one will be replacing the US as a customer. Personally I don't believe China can survive without importing massive amounts of food, they can cancel importing the food from the US but that will only mean they'll pay more for the food they do import.

But here is the thing, Russia, China, N. Korea, Iran, and Venezuela all know that they will lose in that kind of war. It was not hard for them to predict what the US would do and I believe this is why they have spent ten years to create this BRICS currency, so that they could destroy the US. We are pushing these countries into a corner where the only way out for them is a nuclear first strike surprise attack.
 
The signs of the collapse of the US empire

1. N. Vietnam won the Vietnam war and the US lost the war.

2. We lost a war in Afghanistan against the Taliban.

3. We lost in Iraq -- Shia and Shiites rule Iraq now.

4. We are in the process of losing the war in Ukraine.

These are the poorest regimes on earth and we are losing to them.

5. G7 was the core of the world's wealth until 2020. Now we have another core, BRICS with China at the center of this financial powerhouse. The 22 countries allied with BRICS has a greater total GDP than the G7.

6. IMF is showing that the growth of the BRICS nations is greater than the growth of the G7 nations. This shows that the gap between the two is growing because the G7 is declining.

7. During Ukraine war the West put sanctions on Russia, can't sell oil and gas to the west. No problem, they sold it to India and China. Western sanctions no longer have a bite, it is a paper tiger.

This latest presidential campaign about "Making America Great Again" is denial. The reality is that the US is in great decline and naming the Gulf of Mexico the Gulf of America is not a solution, it is childish. Likewise grabbing the Panama canal is not a solution, that is a symptom of someone in denial.
 
ZNP said:
Top 7 Cities with Plummeting Home Prices (no bottom in sight)

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I didn't watch the 46min but one of the things I saw recently was how the big public firms that were buying homes and renting them have gotten hit with lower stock prices that effectively cause a lowering of the value of the homes. I'm sure the video covers it but there are many factors involved in these lessening values. In some areas this isn't being seen as much but the recent data last time I looked at it was showing a recession has been slower in arriving, but we were advancing into it as of a few months ago.
 
studier said:
I didn't watch the 46min but one of the things I saw recently was how the big public firms that were buying homes and renting them have gotten hit with lower stock prices that effectively cause a lowering of the value of the homes. I'm sure the video covers it but there are many factors involved in these lessening values. In some areas this isn't being seen as much but the recent data last time I looked at it was showing a recession has been slower in arriving, but we were advancing into it as of a few months ago.
Click to expand...
It seemed the one factor common to all but Austin was the increasing cost for home insurance. These natural disasters are having an impact.
 
ZNP said:
It seemed the one factor common to all but Austin was the increasing cost for home insurance. These natural disasters are having an impact.
Click to expand...

Thanks for the info. Insurance costs are not sustainable IMO.
 
America Just Entered “The Great Firing” Millions to Lose Their Jobs

 
Massive US Foreclosure Disaster EXPOSED! Economic Meltdown Has Begun


1. Property taxes are up

2. Insurance rates are up

3. HOA fees

4. Utilities are up.

Many people cannot handle this. Add to this the fact that interest rates are up and refinancing is no longer an option.
 
ZNP said:
Massive US Foreclosure Disaster EXPOSED! Economic Meltdown Has Begun


1. Property taxes are up

2. Insurance rates are up

3. HOA fees

4. Utilities are up.

Many people cannot handle this. Add to this the fact that interest rates are up and refinancing is no longer an option.
Click to expand...
You can't look at foreclosures because banks are not foreclosing, they are simply putting people on forbearance. The problem the banks are looking at is if they foreclose then that will bring down the market value of homes and it will expose the fact that the banks are overleveraged. If people realize they are underwater in their mortgage they will be more likely to walk away from the house as well. So keeping up the illusion that a person's house is actually worth 500k is essential to the banks not going bankrupt.
 
ZNP said:
Massive US Foreclosure Disaster EXPOSED! Economic Meltdown Has Begun


1. Property taxes are up

2. Insurance rates are up

3. HOA fees

4. Utilities are up.

Many people cannot handle this. Add to this the fact that interest rates are up and refinancing is no longer an option.
Click to expand...
He points out the things they are doing to hide the truth from the public. They foreclosed on a house that was worth over 300k. The house could have been rehabed and then sold. Maybe you spend 20k fixing the house up and then sell it. Instead they spent 25k to demolish the house, then built a whole new house on the property. He points out how foolish this was economically, but there is a reason for this. If they rehabed the house and then it sold for 250k it would affect the property value of all the homes in the neighborhood. Something like that can cause the housing market to collapse. But by demolishing the house they were simply selling the land, that is different. So they are wasting money to hide the fact that the housing market is way overpriced. Add to this the millions of layoffs and the dam will break soon.
 
ZNP said:
America Just Entered “The Great Firing” Millions to Lose Their Jobs

Click to expand...


Because of AI or because of bloated Gov't that has been under discussion for more than many decades, or because of both, or more...?
 
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