Why Global Markets are Collapsing
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Oh it’s about to tank. Don’t forget what will become gas on the fire. The expensive houses that everyone just bought and the current overemployment that are going to compound each other. And, now that interest rates are going back up, that means people won’t be able to get out from stupid mortgages after they get fired and can’t afford the overpriced house they just bought. So they’ll pull money out of their retirement, taking floods of money out of the market, further driving it down. Banks will lose a ton of money from crappy loans that people default on.
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I have been saying for months that a housing crash is coming. It is pretty east to see. Housing pricing especially in the KC area are out of control. People are paying over asking price, houses are sold the same day they are put on the market, and I have even heard of people waiving the home inspection to sweeten the offer to the sellers. Obviously can’t pinpoint when it is going to happen, but it is for sure happening.
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@Woodrow It’ll come after employment corrects itself and a ton of people lose their jobs. Which will come after equity starts leaving the stock market (this is starting now obviously) and companies start having cash flow problems.
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We are on the verge of repeating 2007 and 2008 all over again I fear.
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We need to repeat 1933 not 2008.
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Maybe, just maybe, we should regulate the banking industry a little more since it is U.S. Government Backed and they are a little more than reckless knowing that they have a safety net to always fall back on?
