This economy being off the rails will increase crime as people will resort to theft just for basic items. More will be applying for public assistance mainly SNAP cards and free school lunches.
The rate hike is to keep the dollar (treasury notes) attractive to investors because the return is tied to the prime rate. This keeps the dollar strong an hurts other currencies. They cant's save both with all this debt. Just another sign the end is not far off.
For all to young to remember...When we bought our first house in 1977, 5 acre remolded farm house, 2 barns and 2 wells for $40,000 our interest rate was 8.5%. it later came down to 7.5 and we paid it off every 2 weeks to be able to actually own it by the mid 1980's. Yes, paying off your mortgage every 2 weeks as opposed to once a month will save you several years off your mortgage, but most today can't think, do simple math or use common sense, have not figured this out. They also refuse to listen! When Nixon took us off of the gold standard our dollars started to become worthless from that point on. In those years 1971-1973 I took my paycheck in rolls of quarters and yes, you could find silver ones and i kept everyone of them. they still have value. Your paper? Not so much. I was married in 1976 and went shopping to set up my pantry. Campbell soup, most varieties were $.09 a can. Gas was maybe $.35 a gal. I remember it before then at $.25. I bought my first new vehicle in 1975, a Chevy silverado 3/4T camper special pick up truck for $5000. Yes, our household income was nowhere near what it take to live today. Neither was what we had to pay out to live a decent life. Like an electric bill of $25 a month? $20 a week for the grocery budget for 2? Night in a hospital $50 tops? Young people today have no clue. They need $100,000 a year just to maintain a family When I was raising my family I was lucky to make $10,000 a year but had WAY MORE. Anyone that thinks we are better off now than 50 years ago needs to exit head out of sand. (or wherever your head is) Take a breathe and learn something. Called being used and propagandize beyond belief..
No future now in raising a family, both man and wife must work just for meeting basic expenses. Besides younger generations have no future as this country evolves into a third world with every country under a NWO/ UN dictator.
Can't afford a home? Move to the People's Socialist Repulik of Venezuellinos. Prices have done NOTHING here for years. Places like Peoria are dirt cheap. Of course, the state is totally bankrupt and a socialist hellhole, but at least housing is cheap.
Part of the problem is that people refuse to move to places like West Virginia, Peoria, IL., Mississippi, etc. There's all kinds of places that are cheap, but a lot of times folks just refuse to move there.
You can buy a home in Detroit for cheap but honestly why would you want to live in a cesspool sewer? Bet a 2x2 sidewalk space in SF is also cheap/ I guess 'I'll take m family there? Don't know what is wrong with people that claim they can't afford a home when plenty of gutters or under the bridges homesteads are available. After all, you deserve to own nothing, be happy and eat "ze bugs"
My only point is that if you can work remotely, there ARE places that are livable and cheap - West Virginia, Mississippi, Terre Haute, IN., Toledo OH. Yes, you must be in an area of low crime, so that needs to be looked at. But a lot of people REFUSE to move anywhere that isn't cool and "groovy," then complain. Well, too bad. Grow a pair.
Driving from Venezuellinois/Chicago area two weeks ago to Toronto, I was forced off the road by some ninny in Toledo. Then 5 min. later, I saw some guy who was literally weaving the worst I have EVER seen, ever, in my life. I actually called 911 it was so bad, but nothing happened.
At least it isn't Gary, IN. where I worked for two years... RIGHT downtown at Methodist Hospital.
You didn't mention the Evergrande (Chinese real estate developer) bankruptcy late yesterday in New York. That can't be good.
If the Feds raise rates, banks start failing, the stock market crashes, the housing bubbleb bursts, and BRICS dumps the dollar for their gold backed digital currency, we are definitely doomed. Bitcoin is even crashing this morning.
I don't think that anyone can ever be truly prepared for what is coming for this country and our economy. Perhaps, it all has to burn down so we can start over from scratch. I hope that someone with a little common sense will be put in charge - definitely NOT Biden!
If I were you, I would consider getting your money out of the market and the banks, and buying precious metals. For the love of all things holy, don't keep it in your home. Find a reputable financial advisor and store it in a secure vault. Mine is also insured by Lloyd's of London. I really like my guy. He's not your typical advisor. His name is Dr. Kirk Elliott (720-605-3900). Don't wait.
They say they need to raise interest rates because the economy is so "strong" as evidenced by the tight labor market. Truth is the only reason the labor market is tight is because of so many people unable to work because of injury or disability after the jab. And people who have opted out and only working in the shadow/underground economy now. It is 9/11 Mark 2 - this time the controlled demolition of the economy. When it comes, it will mainly happen in the course of just one day as computer algoritms kick in and bring the whole house of cards down. Do what you can to prepare now.
Unfortunately treasury investors have been losing interest in US debt since early '22.
That started with seizing Russia's overseas assets and setting a new limbo low for stupid actions, the blow back has every corporation, tin pot dictator & cartel boss wondering how safe their stash is in the west.
Also, record spending & borrowing plus costly but profitable wars not going as planned sees treasury paying more for the increased risk.
Rates will continue to rise as long as stupid stays the course come hell or high water.
This economy being off the rails will increase crime as people will resort to theft just for basic items. More will be applying for public assistance mainly SNAP cards and free school lunches.
The rate hike is to keep the dollar (treasury notes) attractive to investors because the return is tied to the prime rate. This keeps the dollar strong an hurts other currencies. They cant's save both with all this debt. Just another sign the end is not far off.
For all to young to remember...When we bought our first house in 1977, 5 acre remolded farm house, 2 barns and 2 wells for $40,000 our interest rate was 8.5%. it later came down to 7.5 and we paid it off every 2 weeks to be able to actually own it by the mid 1980's. Yes, paying off your mortgage every 2 weeks as opposed to once a month will save you several years off your mortgage, but most today can't think, do simple math or use common sense, have not figured this out. They also refuse to listen! When Nixon took us off of the gold standard our dollars started to become worthless from that point on. In those years 1971-1973 I took my paycheck in rolls of quarters and yes, you could find silver ones and i kept everyone of them. they still have value. Your paper? Not so much. I was married in 1976 and went shopping to set up my pantry. Campbell soup, most varieties were $.09 a can. Gas was maybe $.35 a gal. I remember it before then at $.25. I bought my first new vehicle in 1975, a Chevy silverado 3/4T camper special pick up truck for $5000. Yes, our household income was nowhere near what it take to live today. Neither was what we had to pay out to live a decent life. Like an electric bill of $25 a month? $20 a week for the grocery budget for 2? Night in a hospital $50 tops? Young people today have no clue. They need $100,000 a year just to maintain a family When I was raising my family I was lucky to make $10,000 a year but had WAY MORE. Anyone that thinks we are better off now than 50 years ago needs to exit head out of sand. (or wherever your head is) Take a breathe and learn something. Called being used and propagandize beyond belief..
No future now in raising a family, both man and wife must work just for meeting basic expenses. Besides younger generations have no future as this country evolves into a third world with every country under a NWO/ UN dictator.
Can't afford a home? Move to the People's Socialist Repulik of Venezuellinos. Prices have done NOTHING here for years. Places like Peoria are dirt cheap. Of course, the state is totally bankrupt and a socialist hellhole, but at least housing is cheap.
Part of the problem is that people refuse to move to places like West Virginia, Peoria, IL., Mississippi, etc. There's all kinds of places that are cheap, but a lot of times folks just refuse to move there.
You can buy a home in Detroit for cheap but honestly why would you want to live in a cesspool sewer? Bet a 2x2 sidewalk space in SF is also cheap/ I guess 'I'll take m family there? Don't know what is wrong with people that claim they can't afford a home when plenty of gutters or under the bridges homesteads are available. After all, you deserve to own nothing, be happy and eat "ze bugs"
My only point is that if you can work remotely, there ARE places that are livable and cheap - West Virginia, Mississippi, Terre Haute, IN., Toledo OH. Yes, you must be in an area of low crime, so that needs to be looked at. But a lot of people REFUSE to move anywhere that isn't cool and "groovy," then complain. Well, too bad. Grow a pair.
I'd rethink Toledo. I live 45 mins from there and no way would I want to live there
Driving from Venezuellinois/Chicago area two weeks ago to Toronto, I was forced off the road by some ninny in Toledo. Then 5 min. later, I saw some guy who was literally weaving the worst I have EVER seen, ever, in my life. I actually called 911 it was so bad, but nothing happened.
At least it isn't Gary, IN. where I worked for two years... RIGHT downtown at Methodist Hospital.
You didn't mention the Evergrande (Chinese real estate developer) bankruptcy late yesterday in New York. That can't be good.
If the Feds raise rates, banks start failing, the stock market crashes, the housing bubbleb bursts, and BRICS dumps the dollar for their gold backed digital currency, we are definitely doomed. Bitcoin is even crashing this morning.
I don't think that anyone can ever be truly prepared for what is coming for this country and our economy. Perhaps, it all has to burn down so we can start over from scratch. I hope that someone with a little common sense will be put in charge - definitely NOT Biden!
If I were you, I would consider getting your money out of the market and the banks, and buying precious metals. For the love of all things holy, don't keep it in your home. Find a reputable financial advisor and store it in a secure vault. Mine is also insured by Lloyd's of London. I really like my guy. He's not your typical advisor. His name is Dr. Kirk Elliott (720-605-3900). Don't wait.
They say they need to raise interest rates because the economy is so "strong" as evidenced by the tight labor market. Truth is the only reason the labor market is tight is because of so many people unable to work because of injury or disability after the jab. And people who have opted out and only working in the shadow/underground economy now. It is 9/11 Mark 2 - this time the controlled demolition of the economy. When it comes, it will mainly happen in the course of just one day as computer algoritms kick in and bring the whole house of cards down. Do what you can to prepare now.
You will own NOTHING, and BE HAPPY, Klaus Schawb said so.
Well written articles. Keep up the great work!
Unfortunately treasury investors have been losing interest in US debt since early '22.
That started with seizing Russia's overseas assets and setting a new limbo low for stupid actions, the blow back has every corporation, tin pot dictator & cartel boss wondering how safe their stash is in the west.
Also, record spending & borrowing plus costly but profitable wars not going as planned sees treasury paying more for the increased risk.
Rates will continue to rise as long as stupid stays the course come hell or high water.