Loading ...Is like looking at and connecting the “dots” of the lowest points of a stock chart. Either the ascending or descending “low” points to get some perspective. If they restructure a global economy, they will need a 1930s type global agreement to prevent the masses from getting screwed.
All these problems with Trade agreements, banking problems, consumer and corporate debt, ETF derivatives, wild swings in commodity prices etc etc is all related to big businesses unfettered, controlling things globally like they were unfettered controlling things in the domestic USA which caused the 1930s depression. The president in one of his fireside chats, pretty much said,
“If your business in not profitable enough to pay a livable wage, you ought not to be in business.”
Henry Ford knew that. But these recent grown up affirmative action babies and activists elected to Congress are in a fog, and probably listen to, and trust foreign and domestic Lobbyists and campaign funding special interests people. Instead of thinking what’s best for their domestic tax paying business profits, and local tax paying entry level masses.
Why are they so dumb? Why did they let things get so bad since 1975 that nobody had a 20% down payment to buy a house after 2001? And got 105% mortgages. And when they stopped making mortgage payments, it took over six years to get them evicted. I myself know of five people not paying for 6 years. Why did they allow mass immigration and exporting jobs at the same time? And sanctuary cities? Was it to get their votes? Or just very sympathetic.
Re the unpaid home loans one in particular I know, stopped paying a bought a new Ford van on a 6 year loan. Almost paid off now. His real estate friend bought a foreclosed house to rent to him not even a year ago. The R/E guy had know how, and got him a mortgage to buy the house, and he closed Friday. Odds are he won’t be able to pay this one down either.
I remember thinking after the big crash in 2008, many people didn’t want to or couldn’t qualify to buy a house, and they flooded into rentals, driving them $2300/mo common for a one bedroom. The high price plus gov’t incentives to create construction jobs, led to a lot of building multi family apartment complexes, so I said to myself, the next decline the land lords are going to get screwed, and so far it looks like that. And if the depression is allowed to proceed, they can use all the vacant apartments for homeless shelters. Wait there’s load of unused FEMA trailers. 🙂
Now with the gov’t having to just give people money, its like one big welfare system getting exposed? Or is the system so far advanced, and the funny money working so well, that not everybody has to work anymore. Or forty houses is too much. Hell, they had it down to 40 hours per house hold until 1970, and suddenly after gold de-peg and globalization up to 80 hours plus.
Hopefully in the future, half the strip malls, apartment buildings and big shopping malls will be razed and they put manufacturing factories in their place. And even have factory direct buying in front of them. Also cars get simplified heavier safer, and easy and cheap to fix. Bring back the shade tree mechanic. And cheap affordable fun muscle cars.