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We are likely about to see a second Great Depression! by bigdeej

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· @bigdeej · (edited)
$7.18
We are likely about to see a second Great Depression!
Watching CNBC this morning like I do most weekdays and I saw a headline about mortgage rates. This is always a concern for me so I decided to watch. They are now saying rates are too high and the vast majority of buyers with good enough credit already bought or refinanced while the rates were low..

Boy have we seen this before? Remember NINJA loans? No Income No Job Approved! Just sign here! Then when the teaser introduction rate sky rockets you can't pay the loan but the bank doesn't care because they already used credit default swaps, collateralized debt obligations and 1500 other made up ways to profit off the backs of hard working people!

This is exactly what happened between 1999 and 2008 before the huge housing market bubble crashed most recently.. It dragged down the stock market and made people panic, which led to an almost complete systemic failure of the world financial institutions! And yet here we are 10 years later, same problem and FAR FAR FAR more currency in circulation!

What happened? Do you remember QE? The federal reserve just invented new money out of thin air and handed it at their decision to certain banks and corporations to bail them out! They picked the winners and losers and showed us that they are the ones really in charge. They then stuck the interest for all that and the payback on the backs of hard working people! Sounds crazy right? What about the fact that they never took all that new currency out of circulation?

We now live in a world where the relative buying power of fiat currency, specifically the USD has not changed much since the crash 10 years ago. Yet we have over 100 times more paper dollars circulating.. Did our wealth grow 100 times since then? That is what we are being told. Otherwise inflation would have caught up. No wonder the federal reserve is finally raising interest rates.

The small guy wants to buy a home and new truck for the first time in 10 years! The banks and HUGE corporations built up around them already had a decade to launder that money and get on the right side of the market for the next crash! Now they want to extract every penny they can from the average hardworking person and line their pockets with even more! We will see a huge crash more than likely in the next 2 years! I fear we are in 2006/2007 all over again right now! Only this time we have to inflate the debt away with a new scam the federal reserve conjures up!

Feds have rates going up and banks are saying mortgage rates are going too high and too few qualified buyers! Their game now is to get people who can't get approved into homes they know they will foreclose on and profit off in just a few months/years! Welcome housing bubble 2018/19! This is 2007 all over again only this time wooooooosh we are going to watch it spill over into every aspect of life. Get ready for a depression people!

Don't forget they will most likely blame it all on President Donald J Trump, the billionaire president of the United States of America! That is the logical scapegoat! Who better to crash the market on than the guy seeking re-election that is a billionaire and many already do not like? That will divide the nation and world for that matter so much that it will lead to chaos and potentially riots and anarchy! The world needs to avoid this outcome at all costs it will not end well for any of us if it plays out this way!
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 2466 others
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vote details (2530)
@hoaithu ·
Hi @bigdeej
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@bigdeej ·
I wouldn't buy a home especially in a state like NJ today it is stupid to I can rent 5 homes and make a profit subleasing (airbnb) them instead versus buying 1 home and dealing with the bullshit. My neighbor is selling their home bc the taxes are soo high.. They claim they have water front access when they are more than 6 homes away from the ocean on a busy street lol but NJ doesn't care they want that extra 50% in tax revenue and won't reassess the home's value. Which means if you buy it you are paying for nothing and subsidizing the rich elite who half only are here for at most a few weeks during the summer and own the water front and call the police half the time if you are down there despite legally it being public property up to the high tide mark which according to Hurricane Sandy is their fucking living rooms!
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@retiredinsamar · (edited)
I wouldn't buy a home anywhere in the U.S. right now. In most metro areas, it makes better sense to rent anyway. I built a home in the Philippines and our property taxes are about $18 per year. You can keep the U.S. real estate market! (And I was a RE Broker for over 13 years before I retired.)
πŸ‘  
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vote details (1)
@ceattlestretch ·
The crazy thing is there are even bigger bubbles than the housing market converging at the same time. There is gonna be some major changes or depression sooner than later. Today’s equity markets are a good indiciator of what’s to come
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@bigdeej ·
Oh yeah it is going to be almost ALL markets at once failing! Then it will be blamed (in my opinion) on Trump the ultimate billionaire scapegoat! Who better to blame than him? I think it is all part of the plan. Less than 2 years he is going to run for re-election...
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@ceattlestretch ·
When the king of bankruptcy gets elected to preside over the biggest Ponzi scheme ever, you know something wicked this way comes
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@niel96 ·
Fundamentally you are right but i don't think the crash is near yet. First the inverse yield curve needs to go under zero. We are way oversold right now just like in februari this year
πŸ‘  
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vote details (1)
@bigdeej ·
Over all I agree! We saw this in the beginning of the year then a huge rally, but I said this last year and in fact been preaching the fed is a scam for a decade now.. I agree it takes time and won't probably be tomorrow or even likely this year. BUT, we may see sideways and then one last false rally to drag everyone in as bulls when the remainder of smart money cashes out..

I believe "near" is a relative term and must be defined. To me (as I alluded) it would be during Trump's re-election which is just starting to happen now. The best time to plan a crash to blame on the Trump administration is 2020 so maybe my initial post is a little early but I ultimately believe we are near/at the top and will begin taking caution. Covered calls and protective puts with up side on both. I think there might be a little blood left in this stone but not much.
πŸ‘  
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vote details (1)
@randyw ·
Trump has already tied his star to the state of the economy!
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@haikubot ·
<em>Trump has already 
Tied his star to the state of 
The economy! 
</em>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>- randyw</sup>

---
<sup><sup><em>I'm a bot. I detect haiku.</em></sup></sup>
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@arcange ·
Congratulations @bigdeej!
Your post was mentioned in the [Steemit Hit Parade](https://steemit.com/hit-parade/@arcange/daily-hit-parade-20181010) in the following category:

* Upvotes - Ranked 5 with 2291 upvotes
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@madstacks ·
For this reason some gold is always a good idea to have stored away somewhere safe:)
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vote details (1)
@bigdeej ·
Agreed always have tangible REAL value assets!
πŸ‘  
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@retiredinsamar · (edited)
Gold price is essentially the same as it was in Jan '14... and is actually worth less against the dollar because of inflation. It has been a terrible store of value but could change if a crash occurs. Silver has not been any beter.
πŸ‘  
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