The Greatest depression is coming, are you ready?

https://www.thegatewaypundit.com/20...back-vacations-travel-restaurants-save-money/

BIDEN ECONOMY: Americans Are Pulling Back on Vacations, Travel and Restaurants to Save Money

1. We are seeing severe worldwide inflation in the cost of gas and food.

2. We are seeing a collapse in the stock markets around the world.

3. People are not running to bonds because they expect interest rates to rise (which causes the value of bonds they have bought to drop).

4. The Fed is raising interest rates and will continue to do so, which in turn is causing central banks around the world to do the same.

5. As a result of rising interest rates mortgage rates have risen dramatically. For example, we sold our house in March. The company that bought it flips houses and the price they paid to us reflected their estimate that they could fix it up and resell for $700k. If you calculate that your buyer puts down 20% the new mortgage rate would cause them to drop the selling price by 200k for the same buyer to buy it.

A. We are seeing a sharp decline in mortgages.

B. We are also seeing a sharp decline in new homes being built. I heard from one builder that the windows he gets now take 18 months to be delivered. If you cannot get some key item it can hold up the entire construction of the house.

6. We are also seeing a sharp decline in car sales. It is a double whammy for them. They are having a hard time getting parts. I bought a car two months ago and it is still not here. When it does get here they tell me the heated seats won't work because they don't have the chip but hope to get it and install it before winter. However, I bought this car before the interest rates spiked. Now financing a car will be a double whammy. Cars will be both harder to get and much more expensive to finance.

What is the problem?

Here is the big problem. stocks and bonds are both getting hit hard. Most big investors (let's say $10 million invested as the bare minimum) will have a 60/40 mix between stocks and bonds.

Usually if your stocks were down your bonds would be up, and if your bonds were down your stocks would be up. The problem is both are down.

So when we say "the problem" what are we talking about? All of these people are independently wealthy, so what if the value of their portfolio is down? The problem is that everyone is leveraged. Everyone has put up their portfolio as collateral. For example, lets say I own a three million dollar house. There are tax advantages to having a mortgage, so they put up $3 million in bonds as collateral, get the lowest interest rate possible, and then buy their house with a mortgage. Corporations do the same thing. When interest rates are low everyone is using leverage which is why raising interest rates is likened to "pumping the brakes" on the economy. Interest rates go up, it doesn't make sense to be highly leveraged, so you have to sell something to close out those debts. If you understand this you understand that raising interest rates = selling stock. You also understand that high inflation indicates that the system has become abusive and out of control, which means the use of leverage is very high and so the amount that must be sold is also very high.

Brokerage firms do not want to be left holding the bag. The amount of collateral has to be worth more than the amount borrowed. They have contracts which allow the brokerage firm to sell off the holdings if the amount drops too low. So when you see the stock market drop 30% you know that many, many people are being forced to sell.

This is what the industry refers to as squeezing out the excess. People bought at the peak on leverage and now they are being forced to sell. This is why when you see a big, sharp drop like we have seen in the last six months that it is almost always only the halfway mark. People will continue to be forced to sell for several years.

And it is worse than that. We aren't talking about some retiree who is selling money that means their heirs will inherit less. We are talking about every single business trying to stay afloat. If I cut down my operating capital by 30% it will result in layoffs. People who are laid off will have no choice but to cut back on their spending which in turn will cut down on the revenue of businesses forcing them to lay off more people.

The two biggest engines to the US economy are house sales and car sales. Both will plummet and that in turn will cause layoffs.

I sure wish you'd stop stallin' and give us the bad news...

well.......I guess that is an opinion of the future........but I seem to remember that man is not able to do more than speculate about what the future holds...

just saying

We sold our house in December and completed the transaction in March. Three months later if we had tried to do the same thing today we probably could not find a buyer and if we did they would be offering 200k less because of the 3% rise in the 30 yr. mortgage rate.

In October my wife was forced to resign her job and move her 401k which made her sell everything in November. The trustee of the IRA wanted to invest the money into a collection of stocks and bonds. I advised to keep it in cash which is what she did. Since that time the market is down 30%.

Bottom line our financial situation right now is far better than it would have been had we not "braced ourself" and acted immediately.

My wife had a colleague at work who in October had $1 million worth of bitcoin. I told her to tell him to cash out and buy property with the money. If he never sold his bitcoin he has lost $700k since that time.

If you wait until everyone can see what is coming then it will be too late. I saw what was coming last August so that when DeBlasio mandated the vaccine for me to continue working in NYC within 24 hours I was applying for retirement. I was urging my wife to resign but she waited till the last moment when she was forced to resign. However, the stock market continued to rise through December. If you don't understand what the key factors are you will second guess your decisions. Everyone wants to see that one day after you call for a recession that a million people are laid off and if not then they accuse you of being a false prophet.

For example, some of the funniest videos on the internet are these videos accusing Dana Coverstone of being a false prophet. Their entire basis for saying that these dreams warning people to brace themselves for what is coming have not taken place. What good is a warning if you don't have time to act on it? From August I was urging and pleading with my wife to resign and sell the house and move away from NYC. We didn't complete this process until March. It took us seven months. But it was a simple process, we are in great shape financially, we are both working with new jobs in a vibrant economy and town that will survive the depression. If we tried to do that today we would be destroyed. Those dreams from Coverstone said to "brace yourself" and now his most recent ones say it is too late to brace yourself.

He has one dream describing the US economy as an airplane flying at 30,000 feet. Then it begins to plummet straight down and yet no one on the plane is paying any attention. Everyone is focused on their phones. But then the lights go out and that is when they panic.

You want the bad news? You can't handle the bad news

The bad news is that there are many countries that are in far worse situation than the US and Russia is about to show them the evidence that the US is the one to blame. The whole world will blame the US for the pandemic, inflation, and the Cocaine Importing Agency. You will have a problem that demands a solution and they will all agree that the problem is the US. The US will be hit with a surprise attack much, much worse than 911.

What you say is true, except it ain't just Biden causing it. You can blame BOTH sides for the state of this country.

The blame game is the least of my concerns.

You blame Biden then claim the blame game ain't your concern?

That's a bit incongruent if not downright hypocritical.

Minute to minute things are changing. My parents had land behind them that has sat there for years, just a huge mass of grass and hills of dirt. Suddenly this summer we saw movement, then trucks and all kinds of machines. They are building apartments right behind my parents home. And the problem is I'm not sure there won't be border jumpers and such living there. They started to think on selling, which they would get a great deal on the selling, but then to find a place to buy. And they don't want to have to rent in between. Plus they are at a fixed rate that they may not get if they moved.

Hubby and I don't owe as far as cards or any such thing. As I said in the preppers thread I started, I don't just want to be prepared, I want to possibly be able to help others too. Last year before the holidays I bought all we needed, I could afford it back then. I got turkey for Thanksgiving, Christmas and Easter. All non perishables I bought. This year I just don't know. We're booked for a vacation in FL in Aug. and I don't even know if we should do that. I have a sense that once this abortion verdict is given that it's gonna go hog wild. Don't even know if it will be safe to travel. Our pastor is very up on all of this. Yesterday he said things are moving as far as Israel defending themselves against attacks. That's all we need in this mess. Seems we are at the beginning of the end. Even unbelievers are feeling it.

This is a news forum, you have to provide links to news articles.

One of the articles I linked blamed Biden. There is no doubt that Biden's administration has had reckless spending, extravagant spending, they have hurt the situation with gas and oil by shutting down pipelines and making it harder to drill. It is also very easy to prove that Biden provoked Russia to invade Ukraine either by incompetence or malice. That invasion has caused a very real spike in food prices. But his policies concerning vaccine mandates have encouraged idiotic policies that require truckers to be vaccinated and have caused many people to leave their jobs like airline pilots. As a result the shortages in baby formula and other things can also, at least in part, be blamed on this administration. Yellen is a disaster, saying that inflation was transitory when anyone who really understands macroeconomics knew it wasn't going to be (Steve Bannon's show was warning about this six months ago). Buttigieg has been a disaster. Kamala Harris has been a disaster. And yes, the feckless Joe Biden has been a disaster. I cannot envision a president having done worse for the US and world's economy than Biden over these last 15 months.

That said this whole crisis came to a head this year but was baked into the system for 20+ years. I would say that 9/11 was our last big warning where we could have changed course, but by 2008 it was clear we hadn't changed course and so we were headed for judgement and destruction.

Now let's correct your misquote of what I said. I didn't say the blame game "wasn't my concern". I said it was "the least of my concerns". The solution to this is to repent, confess your sins, and turn to the Lord. You cannot do that if you don't understand the history, how we got here, and what those sins are.

Sell, put your money into silver, and rent. During the depression prices will plummet. 3 years from now they will be able to buy up at a tiny fraction of the cost today.

Bidens agenda was "build back better". If you're gonna build back, you have to destroy it first. If you cannot see that it was Bidens intent to tear down America as we know it and build back a new "Communist Utopia" you're either willfully blind, or you aren't keeping up with what is going on in the country. Yes, Rhinos have helped, but the man in office is Biden. Great resent, Trudope let it slip. They aren't about to stop now, unless we stand up and stop them. And I don't think enough people are aware, not woke, aware of what the radical left has in store for America. I grew up not far where the Titanic went down, we all know the story. I think we are at the point where the lights are beginning to flicker as she goes down for the final time. God, awaken your people, we are in the midnight hour. Let us warn others to get our houses in order for the coming of the Son.

This weekend we took a trip to Panama City. Given the price of gasoline, we expected light traffic. That's not what we found.

People are still taking vacations. Why are seeing this? When will it slow down?

We are seeing this because there are fewer goods being chased by too much money.

It will slow down when the money supply dries up. We will see that happen when people exhaust their savings, and start maxing out credit card debt. That is already happening. Take a look at the credit stats below.

https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/

MBA data shows significant decline in mortgage applications

https://www.mpamag.com/us/mortgage-... have decreased,the highest levels since 2009.

Market loses more steam as SAAR tumbles to 2022 low
May U.S. auto sales: Ford, Toyota, Honda, Hyundai, Kia, Subaru post declines behind choked supply chains, tough comparison to robust May 2021

https://www.autonews.com/sales/may-...da-hyundai-kia-subaru-post-declines-again-may

Not that I disagree with most of what is being said, but when one willfully chooses to believe only half of the story...

None of this could possibly be residual from Covid and people out of work. No, no couldn't be any of that....

Anybody saying that this isn't Biden and the Democrats fault, or that it's a balance and the GOP are also to blame, are either dishonest or ignorant. At this point there is simply no other alternative. Watch what Biden HIMSELF has repeatedly said, and also many of his cabinet:

Joe Biden No Drilling No Offshore No Ability For Oil Industry - Rumble

I think this is the result of the US government being corrupt. At first you have a little pork with your bill, then next thing you know the bill is stuffed with pork, and eventually it is all pork. This last 16 months have looked like bank robbers stuffing their shirts with as much money as they can as they try to flee from the police. Yes, the robbery is brazen and in the open now, but remember, they cleaned out Social security for years and years before Biden ever showed up. NAFTA moved all the manufacturing away, that can certainly be blamed on Clinton but Bush was also responsible. No Child Left Behind was a way to completely influence school curriculum from the federal government and this is how they have destroyed the education system. No child left behind would be more accurately described as no child in the public school system will get ahead.

Then look at the wars and the Cocaine Importing Agency (CIA) all those crimes took place prior to Biden. Biden wasn't the one claiming there were WMD's. Biden wasn't the one who assassinated JFK and RFK.

The Pandemic will turn out to be the biggest crime in human history up until 2020. That was planned and executed before Biden became president.

How do you solve the problem of Social Security being bankrupt? Just kill off all the retirees and the problem is solved.

No one can convince me that Biden is anything more than a rubber stamp for Obama and Clinton. Those are the ones who did this and they worked together with the guy from Skull and Bones, Bush, head of the CIA.

ZNP, for someone who professes to be a Christian you exhibit more worrying and fretting than any unbelievers I know. What are you so afraid of?

"Peace I leave with you, My peace I give to you; not as the world gives do I give to you. Let not your heart be troubled, neither let it be afraid."—John 14:27