Brace Yourselves, Because What They Have Planned Is Going To Definitely Devastate The U.S. Economy

Do you remember what occurred in 2008? Many individuals think that another historic financial disaster is coming and that it will absolutely devastate the U.S. economy. Earlier this week, I wrote about a financier named Michael Burry that has actually bet 1.6 billion dollars that the stock market is going to crash. He made all the right moves in 2008, and he completely means to be shown right when again in 2023. Naturally current conditions certainly resemble 2008 in numerous methods. The domestic real estate market is so dead right now, and business realty prices are dropping at an extremely frightening rate. Unfortunately, authorities at the Federal Reserve are making it quite clear that they are refrained from doing strangling the economy.

This week, home loan rates jumped above the 7 percent mark to the highest level that we have seen in more than twenty years

Home mortgage rates exceeded 7% today, hitting the highest level in more than 20 years.

The typical rate on the popular 30-year set mortgage increased to 7.09% today, up from 6.96% the week prior, according to Freddie Mac’s release on Thursday. That’s the highest point given that the very first week of April 2002 and marks just the third time rates have gone beyond 7% since then. The last times remained in October and November of in 2015, when the rate reached 7.08%.

Needless to say, high mortgage rates have been debilitating the real estate market in current months.

At the midpoint of this year, existing home sales were down a whopping 18.9 percent from the very same time in 2022 …

Overall existing-home sales1– completed transactions that include single-family houses, townhomes, condos and co-ops– receded 3.3% from May to a seasonally changed yearly rate of 4.16 million in June. Year-over-year, sales fell 18.9% (down from 5.13 million in June 2022).

There are certainly lots of individuals out there that would like to buy homes, however thanks to how high home mortgage rates have become they just can not afford to do so.

Housing has ended up being incredibly unaffordable in this country. According to Redfin, the percentage of teachers that can pay for to buy a home near the school where they work has actually fallen to simply 12 percent

The variety of instructors who can manage a fairly priced house in their school district across the country has actually collapsed to simply 12%, below 17% last summer season and 30% in 2019, in the middle of the worst real estate affordability crisis in a generation, according to data from Redfin.

Redfin’s analysis of typical teacher salaries for 2022 throughout 50 major cities for over 70,000 PreK-12 public and private schools revealed no teacher in San Jose and San Diego could afford houses within “commuting ranges” to their particular school, which suggests home and work are 20 minutes during normal rush hour conditions.

A lot damage has actually currently been done.

But apparently authorities at the Federal Reserve think that even more carnage is essential, due to the fact that they are suggesting that more rate walkings are on the table

Most Federal Reserve officials signaled during their July policy-setting conference that high inflation still postures an ongoing threat that might necessitate extra rate of interest walkings this year.

Minutes from the U.S. reserve bank’s July 25-26 meeting launched Wednesday revealed that reserve bank officials observed that inflation stays well above the Fed’s 2% target– which policymakers need to see “additional indications that aggregate demand and aggregate supply were moving into much better balance to be confident that inflation pressures were abating.”


Do not do it.

Even if rates remain at existing levels, we are headed for extreme pain.

Raising rates even higher would simply be self-destructive.

However it appears like they are going to do it anyhow, and that could press home mortgage rates up to the 8 percent level

Economic experts have predicted home mortgage rates might go above 8 percent if the economy continues to reveal signs of strength and the United States Federal Reserve decides to raise rates of interest once again.

Home loan Rates have not hit such levels because 2000, according to data put together by Freddie Mac.

Do authorities at the Fed actually think that our system can deal with such high rates?

Unless the Fed modifications course, the housing market is going to absolutely implode.

And naturally the business property market is already imploding.

The mayhem that is already transpiring is putting a massive quantity of stress on our financial institutions, and Fitch is warning that we could soon see sweeping ranking downgrades in the banking industry …

A Fitch Ratings expert alerted that the U.S. banking industry has inched closer to another source of turbulence– the threat of sweeping rating downgrades on lots of U.S. banks that might even include the similarity JPMorgan Chase
The scores firm cut its evaluation of the market’s health in June, a move that expert Chris Wolfe said went mostly unnoticed since it didn’t trigger downgrades on banks.

In lots of methods, I feel like I am watching a repeat of 2008.

Officials at the Fed can clearly see everything that is taking place, however they just keep demanding making things even worse.

So I hope that you have been getting ready for rough times, because things are going to get insane.

Unfortunately, the truth is that most Americans are not prepared for tougher times. In reality, one recent study found that 72 percent of Americans are not financially protect …

For numerous Americans, payday can’t come quickly enough. As of June, 61% of adults are living income to income, according to a LendingClub report. Simply put, they depend on those routine paychecks to fulfill vital living expenditures, with little to no money left over.

Almost three-quarters, 72%, of Americans state they aren’t financially safe provided their present monetary standing, and more than a quarter said they will likely never ever be financially safe and secure, according to a survey by Bankrate.

Many of those people will lose their jobs during this brand-new recession, and due to the fact that they do not have any sort of a financial cushion to draw on much of them will also end up losing their homes.

Delinquency rates are currently starting to move higher, which should deeply alarm everyone.

But what we have experienced up until now is just the idea of the iceberg.

So brace yourselves for what is ahead, because this flight is only going to get bumpier from here.

Michael’s new book entitled “End Times” is now available in paperbackand for the Kindleon, and you can have a look at his brand-new Substack newsletter right here.

About the Author: My name is Michael and my brand new book entitled”End Times” is now available on In addition to my brand-new book I have actually composed six other books that are available on Amazon.comconsisting of “7 Year Armageddon”, “Lost Predictions Of The Future Of America”, “The Beginning Of Completion”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one manner in which you can truly assist is by sending out copies as presentsto friends and family. Time is short, and I need aid getting these cautions into the hands of as lots of people as possible. I have also started a brand brand-new Substack newsletter, and I motivate you to subscribe so that you will not miss out on any of my articles. I have released thousands of posts on The Financial Collapse Blog, End Of The American Dreamand The Most Crucial News, and the posts that I release on those sites are republished on lots of other popular sites all over the globe. I constantly freely and happily permit others to republish my posts by themselves sites, however I also ask that they include this “About the Author” section with each article. The product consisted of in this article is for basic information purposes just, and readers should consult certified specialists prior to making any legal, service, monetary or health decisions. I motivate you to follow me on social networks on Facebookand Twitter, and any method that you can share these posts with others is absolutely a great help. These are such struggling times, and people require hope. John 3:16 tells us about the hope that God has actually provided us through Jesus Christ: “For God so enjoyed the world, that he provided his only begotten Child, that whosoever believeth in him need to not die, but have long lasting life.” If you have not already done so, I highly prompt you to invite Jesus Christ to be your Lord and Rescuertoday.

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