The Greatest depression is coming, are you ready?
- Thread starter ZNP
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Of course, that is the best case scenario
Fed Economist Says Home Prices Could Plunge 20%
https://bonginoreport.com/economy/fed-economist-says-home-prices-could-plunge-20
Fed Economist Says Home Prices Could Plunge 20%
https://bonginoreport.com/economy/fed-economist-says-home-prices-could-plunge-20
We were warned this day was coming. Russia, Saudi Arabia, Iran and Iraq? If all oil exporters use Yuan the US dollar will implode.
If 50% of the world ditches the US dollar you will see the dollar suffer significant inflation, losing anywhere from 30-50% of its value. As that happens you will see those countries holding US debt either go bankrupt or dump US debt as fast as they can.
Great news!
For all you who have your treasure in heaven and have set your heart on heaven, this will not have any impact on you. Only on those who still put their trust in mammon.
CBDC -- central bank digital currency will give the government complete control over your wallet. They will be able to decide when, where and for what you can spend money or get paid for work you have done.
For all you who have your treasure in heaven and have set your heart on heaven, this will not have any impact on you. Only on those who still put their trust in mammon.
CBDC -- central bank digital currency will give the government complete control over your wallet. They will be able to decide when, where and for what you can spend money or get paid for work you have done.
Here is our problem
1. Our interest rate was 0.13% on Money supply two years ago and now it is over 5%. This is catastrophic to the economy. All you have to do is look at several charts.
A. Housing Affordability -- A few years ago 50% of homes were "mathematically affordable" as a percent of your income, today it is 20%. This is a crisis.
B. Cars are also becoming less affordable. These are the two engines to the American economy.
C. Look at the containers stacking up in China and the drop in shipping over the Pacific at about 30%. This is due to Americans not buying from China. The Chinese economy has to grow to survive. Losing 30% of their exports is cataclysmic to their economy.
D. We have an inverted yield curve. This means that people who are holding US debt are getting crushed. That discourages anyone from buying more US debt at a time when our interest payments are skyrocketing and we have to sell debt to pay our bills.
E. To make it worse BRICS is trying to replace the US dollar with a gold backed security and Saudi Arabia and Iraq have both agreed to sell oil using this currency. This represents 40% of the world's economy. Saudi Arabia, Iraq and Russia are major exporters of fossil fuel.
1. Our interest rate was 0.13% on Money supply two years ago and now it is over 5%. This is catastrophic to the economy. All you have to do is look at several charts.
A. Housing Affordability -- A few years ago 50% of homes were "mathematically affordable" as a percent of your income, today it is 20%. This is a crisis.
B. Cars are also becoming less affordable. These are the two engines to the American economy.
C. Look at the containers stacking up in China and the drop in shipping over the Pacific at about 30%. This is due to Americans not buying from China. The Chinese economy has to grow to survive. Losing 30% of their exports is cataclysmic to their economy.
D. We have an inverted yield curve. This means that people who are holding US debt are getting crushed. That discourages anyone from buying more US debt at a time when our interest payments are skyrocketing and we have to sell debt to pay our bills.
E. To make it worse BRICS is trying to replace the US dollar with a gold backed security and Saudi Arabia and Iraq have both agreed to sell oil using this currency. This represents 40% of the world's economy. Saudi Arabia, Iraq and Russia are major exporters of fossil fuel.
The problem is if people need cash the banks have to sell their bonds at a 40% loss and they go bankrupt. They want to calm the people so that everyone will just "trust" them. However, because of inflation people are going bankrupt right and left and need their money and btw, no one trusts them. But even if somehow they could calm them down the problem is global, anyone with US bonds has this problem. As long as they don't sell maybe things will get better, but, wait for it, China has enough bonds that they could cause a collapse.
I don't care. We are going to get a collapse and if you fight them bailing out these banks they will just scapegoat you. Bailing out the banks only works if this is simply a matter of trust, it isn't, the problem is people are broke and so are pulling money. The other problem is we have enemies trying to bring down the US dollar and they have several huge Jenga pieces they can pull from the tower to bring it down.
I wake up everyday wondering when the economic collapse, followed by major civil unrest across the US will occur. Could be as soon as this year or next year.