My stepdaughter got a wakeup when she called us asking for a loan. We found out that she was spending 100 dollars and more a week on stopping at Starbucks because of her addiction for their coffee and breakfast. She was enlightened by her father that she was to stop the nonsense, make her own coffee and breakfast and then she would have 500 dollars at the end of the month and wouldn't need to barrow money.
A great job of adertising propaganda by Starbucks, which has replaced "coffee" with "Starbucks." One no longer has a cup of coffee, one has "Starbucks."
Great analysis! However, here is my personal problem. From the time I was a young adult, I have stayed out of debt. My husband has no debt. We put our kids through college, and they graduated without any debt. But none of that matters, because even though we do not owe one red cent, the mess created by others cannot fail to take us down with them. I have been responsible all my life, and I am in front of the tidal wave, with everyone else. This really bugs me. That's all. I just wanted to vent. But if you folks can see your way clear to take care of your debts, that would be great. Things might be a little less painful if you can focus on paying for food and housing.
I cringe every time I go to the store and I’m inevitably asked if I want their store’s credit card. I could save, you know. 🤦🏻♀️
My husband and I have struggled with debt. So being in the other side, it’s so easy for me to say no.
But the thing that gets me is that have worked diligently to get our money in order, but others expect us to pay on their stuff while they have no intention of changing their behavior.
We aren’t that old. I feel like a sucker for paying my student debt off - even though it was the appropriate thing to do, since I took out the loan money.
What's coming will not be a "recession" or "rolling readjustment", but a massive global crash, on a scale to dwarft the '29 crash, of the last century. It's not just our economy in trouble; China's and Russia's are too, as well as smaller nations around the world. The whole global economy will crash, like the house of cards it is. It has been orchestrated to do so by the PTB, by intent.
Thank you for stating that!! I never went to fast food restaurants because I thought it was pig slop. I was raised on a farm and we gave our pigs the scraps from our meals that were organically grown by our labor on our farm. The pigs were very happy.
In the 60 min. interview of Powell, he said inflation rate and price hikes are not related. Inflation is going down but prices may remain high. That we need the immigration to fill job openings. When asked if the Fed missed the silicon valley bank default, Powell said yup we did not see that coming. H would not commit to any plan working and how or when this will all get better we just have to trust the FED. The whole interview was one big lie. He even said congress has over sight of the FED, the biggest lie of them all.
Years ago the FED with the Treasury Dept met with banks execs. all across the country and told them the debt will come to a place where they have no choice but to default, and replace the worthless dollar with a new devalued dollar and the US dollar will no longer be the world currency and all the brick and mortar banks buildings will be gone and we will have 95% digital banking/economic system.
They are just waiting on the right event to blame the default on and just as with the silicon Valley bank default they will oh darn we just did not see that coming and blame it on somehting they said they did not foresee. Powell is just giving the allusion of things are on the right path and MSM just served up softball questions just to help Powell make his talking points look good.
With the banks now closing branches, this is the canary in the coal mine, that somehting bad is about to happen. The process has just started. Do what you can to be prepared but above all, you must see outside of Christ you are a sinner who is under God's wrath, repent of that sin and put your Faith in what Jesus did on the cross to cover your sin and it's penalty (death). Follow Christ and He will lead you not out of this mess but through it to bring you home to Himself forever.
Jesus said what good does it do a man to gain the whole world (physically survive all of this) and lose his soul in the end. What has he gained? Nothing.
That has to be one of the more ridiculous things Powell has said. Inflation and price hikes are unrelated. Price hikes ARE inflation. And we need immigration to fill job openings when citizen employment in full time jobs has fallen? The only job creation for them is part time jobs? Zero Hedge did a great unpacking of this. Check it out.
There is a HUGE overriding problem here with consumers. Without a biblical perspective if where we are on the timeline, they all make themselves feel better by just putting it on the credit card because this has all happened before, it us just a cycle and ut will all get better again. But wait, when was the dollar’s eminence as world reserve currency ever threatened like this? When was the national debt so far above 100% of GDP like now when was the US military and nuclear arsenal so far behind another nation like Russia when was our government so obviously captured by the world, economic, forums, backers, and the Chinese? People with no survival skills, no savings no stored food no back up power no guns no ammunition or all screwed. If they can’t figure out how to stop spending on foolish things how can we expect? They will think of the things I just mentioned?
I just paid off my auto loan. Paying down my credit card furiously. Eating out is non-practical. I might spend $45 on 2 meals and with that same $45, I could buy enough to feed 2 people for a week and that includes meat for most meals.
Consumers are going to be hanging onto their only world, their cell phones, while they go begging for a decent meal. What is the limit for consumer credit card debt? It might be $5 trillion or more. No worries. Buy stock in credit card companies.
Sure, there may be more delinquencies, but most of them are from consumers on the lower end who don't buy a whole lot anyway other than essentials. If the high end consumer stops buying his guccu-goos, then watch out.
My stepdaughter got a wakeup when she called us asking for a loan. We found out that she was spending 100 dollars and more a week on stopping at Starbucks because of her addiction for their coffee and breakfast. She was enlightened by her father that she was to stop the nonsense, make her own coffee and breakfast and then she would have 500 dollars at the end of the month and wouldn't need to barrow money.
Good for your husband!
A great job of adertising propaganda by Starbucks, which has replaced "coffee" with "Starbucks." One no longer has a cup of coffee, one has "Starbucks."
Oh, well how clever is that??
Alas, sarcasm doesn't always transmit well in print, I have found.... I usually leave an hint when using it, for that reason...
Clever? It's deceptively evil, as they know what they're doing and relying on malleable minds to fall for it and they did!
My comment was ment as sarcasm so I agree wholeheartedly.
Sorry... I got your sarcasm!! I was trying to sarcastically reply! Fail!!
Great analysis! However, here is my personal problem. From the time I was a young adult, I have stayed out of debt. My husband has no debt. We put our kids through college, and they graduated without any debt. But none of that matters, because even though we do not owe one red cent, the mess created by others cannot fail to take us down with them. I have been responsible all my life, and I am in front of the tidal wave, with everyone else. This really bugs me. That's all. I just wanted to vent. But if you folks can see your way clear to take care of your debts, that would be great. Things might be a little less painful if you can focus on paying for food and housing.
I cringe every time I go to the store and I’m inevitably asked if I want their store’s credit card. I could save, you know. 🤦🏻♀️
My husband and I have struggled with debt. So being in the other side, it’s so easy for me to say no.
But the thing that gets me is that have worked diligently to get our money in order, but others expect us to pay on their stuff while they have no intention of changing their behavior.
We aren’t that old. I feel like a sucker for paying my student debt off - even though it was the appropriate thing to do, since I took out the loan money.
What's coming will not be a "recession" or "rolling readjustment", but a massive global crash, on a scale to dwarft the '29 crash, of the last century. It's not just our economy in trouble; China's and Russia's are too, as well as smaller nations around the world. The whole global economy will crash, like the house of cards it is. It has been orchestrated to do so by the PTB, by intent.
Anyone who eats McD’s garbage, may as well eat bugs
Thank you for stating that!! I never went to fast food restaurants because I thought it was pig slop. I was raised on a farm and we gave our pigs the scraps from our meals that were organically grown by our labor on our farm. The pigs were very happy.
In the 60 min. interview of Powell, he said inflation rate and price hikes are not related. Inflation is going down but prices may remain high. That we need the immigration to fill job openings. When asked if the Fed missed the silicon valley bank default, Powell said yup we did not see that coming. H would not commit to any plan working and how or when this will all get better we just have to trust the FED. The whole interview was one big lie. He even said congress has over sight of the FED, the biggest lie of them all.
https://www.cbsnews.com/news/full-transcript-fed-chair-jerome-powell-60-minutes-interview-economy/
Years ago the FED with the Treasury Dept met with banks execs. all across the country and told them the debt will come to a place where they have no choice but to default, and replace the worthless dollar with a new devalued dollar and the US dollar will no longer be the world currency and all the brick and mortar banks buildings will be gone and we will have 95% digital banking/economic system.
They are just waiting on the right event to blame the default on and just as with the silicon Valley bank default they will oh darn we just did not see that coming and blame it on somehting they said they did not foresee. Powell is just giving the allusion of things are on the right path and MSM just served up softball questions just to help Powell make his talking points look good.
With the banks now closing branches, this is the canary in the coal mine, that somehting bad is about to happen. The process has just started. Do what you can to be prepared but above all, you must see outside of Christ you are a sinner who is under God's wrath, repent of that sin and put your Faith in what Jesus did on the cross to cover your sin and it's penalty (death). Follow Christ and He will lead you not out of this mess but through it to bring you home to Himself forever.
Jesus said what good does it do a man to gain the whole world (physically survive all of this) and lose his soul in the end. What has he gained? Nothing.
That has to be one of the more ridiculous things Powell has said. Inflation and price hikes are unrelated. Price hikes ARE inflation. And we need immigration to fill job openings when citizen employment in full time jobs has fallen? The only job creation for them is part time jobs? Zero Hedge did a great unpacking of this. Check it out.
That is part of where I got my comment.
Yup.
They are just waiting on the right event to blame the default on …
If Trump gets reelected… I’m worried he’ll be the perfect fall-guy for tptb to orchestrate some catastrophic financial event
There is a HUGE overriding problem here with consumers. Without a biblical perspective if where we are on the timeline, they all make themselves feel better by just putting it on the credit card because this has all happened before, it us just a cycle and ut will all get better again. But wait, when was the dollar’s eminence as world reserve currency ever threatened like this? When was the national debt so far above 100% of GDP like now when was the US military and nuclear arsenal so far behind another nation like Russia when was our government so obviously captured by the world, economic, forums, backers, and the Chinese? People with no survival skills, no savings no stored food no back up power no guns no ammunition or all screwed. If they can’t figure out how to stop spending on foolish things how can we expect? They will think of the things I just mentioned?
I just paid off my auto loan. Paying down my credit card furiously. Eating out is non-practical. I might spend $45 on 2 meals and with that same $45, I could buy enough to feed 2 people for a week and that includes meat for most meals.
Consumers are going to be hanging onto their only world, their cell phones, while they go begging for a decent meal. What is the limit for consumer credit card debt? It might be $5 trillion or more. No worries. Buy stock in credit card companies.
Sure, there may be more delinquencies, but most of them are from consumers on the lower end who don't buy a whole lot anyway other than essentials. If the high end consumer stops buying his guccu-goos, then watch out.
Pay off your house too. Otherwise Blackrock will take it and rent it back to you.