Posted on 11/30/2023 4:08:15 AM PST by davikkm
Buckle up, America! The signs are clear, and they’re not pointing towards mere challenges but a looming economic catastrophe. The U.S. housing market, a historical indicator of economic health, is in a deadlock, and it’s sending shockwaves through the nation.
With 30-year mortgage rates hitting two-decade lows, buying conditions have plummeted to levels unseen since 1960, a grim foreshadowing of past severe economic downturns. The housing market, sensitive to interest rate changes, is sounding the alarm.
Adding to the distress, businesses are facing tightening credit access. Over 30% of domestic banks are imposing stricter lending standards, reaching a concerning 50.8% in Q3 2024—a level historically synonymous with recession.
(Excerpt) Read more at citizenwatchreport.com ...
And that's what is so aggravating about politics these days. At one time, no matter the party, they all wanted to make the USA a better place, though their methods differed. Now, it's all about protect me and hurt the other guy. Very few seem to give a damn about the country anymore.
True, but so was everything, in 1985 I bought a 1200 sf house with full basement for 69,000, and bought a new car (escort for 5000) all while making 11 an hour, interest was 10 but had a 321 deal so first year was 7% and my total monthly Payment, taxes, insurance, P&I was 492$
House is long payed off but I am still renting to the govt taxes in 1985 was 892 for the year now it’s almost 4000 or 333 a month
Thanks, I thought that was odd.
The goal is to foment civil war which the Marxists think they will win. Think ongoing Jan. 6th. Then what happens when the DC jury finds Trump guilty and the corrupt judge sentences him to jail just before the election? Do people sit idly by and say, wait for the appeal and then the appeal to SCOTUS? Does anyone rationally think that’s what would happen?
I’m sure as business engineer he’s well thought this scenario out and has already mapped out the exact strategy to put into play the very moment he notes his own scrutiny of economic indicators show things plummeting beyond recovery.
Or at the least I hope so.
One thing is to somehow, some way get back onto the Gold Standard. Or some other precious metal that far surpasses that of gold, such as any rare earth element used in manufacturing, or possibly some new energy storage tech that uses elements from meteorites.
We saw the same economic mess in the late 1970s. Carter’s economic malaise gave birth to stagflation and an interest rate spiral that pushed lending costs to double digits. My wife and I purchased our first home in 1979 at a whopping 11.25% interest on a 30 year fixed loan. Within months interest rates on home loans were topping 15%. I remember gas prices topping $2.00 per gallon well over $4.00 in today’s dollars. Fortunately Ronald Reagan put the country back on the right economic path in the 1980s.
Remove tag name
Our streets already look like 1929 and the democrats still aren’t happy yet more pain more gain.
I think we are headed for a fall but don't think the author of this squib is the one who will predict it.
Perhaps they’ll let Trump win, then engineer the collapse on his watch.
Wouldn’t take it off the table with these gangsters
My Ouija board says expect a bank failure and run in February of Next Year, followed by a stock market crash in March. Massive layoffs and riots in the streets by April. Thinks will not get bad till summer. Boy, I hope I’m wrong!
OPEC slowed the oil flow due to our support of Israel in the 73 war and then the Iranian Revolution.
*****
On October 19, 1973, immediately following President Nixon’s request for Congress to make available $2.2 billion in emergency aid to Israel for the conflict known as the Yom Kippur War, the Organization of Arab Petroleum Exporting Countries (OAPEC) instituted an oil embargo on the United States (Reich 1995). The embargo ceased U.S. oil imports from participating OAPEC nations, and began a series of production cuts that altered the world price of oil. These cuts nearly quadrupled the price of oil from $2.90 a barrel before the embargo to $11.65 a barrel in January 1974. In March 1974, amid disagreements within OAPEC on how long to continue the punishment, the embargo was officially lifted. The higher oil prices, on the other hand, remained (Merrill 2007).
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