We Are At The End Of A Credit Cycle, Credit Is Declining, We Are At The End: Jason Burack
Jason Burack is an investor, entrepreneur, financial historian & Austrian school Economist. Jason co-founded the startup investor education and financial education company Wall St for Main St.
In today's interview Jason talks about the head of the Fed, Janet Yellen. Her statement that we will not see another crisis in our lifetime is ridiculous. In the past we have had other Fed chairs says the same thing and the country ended up in either a depression or a recession.
The real economy is breaking down and the credit cycle is coming to an end. This means fewer loans, credit slow, businesses that use credit will have a difficult time getting credit so we might see shortages.
The economic system has been based on an illusion and that illusion is coming to an end and this is why Jason believes that Janet Yellen is getting ready to leave the Fed.
The economic downturn will hit harder than the 2008 Recession, because now the problems aren't just in a few centralized areas (banks / housing market). It is now including student loan debt, sub prime auto loans, cosumer credit debt, and corporate credit debt. When these bubbles start to pop, which now with the news stating that credit/loan applications are decreasing, retail stores closing, student loan default increasing. These are signals showing that the downturn is near.
Thank you for doing what you do. More people need to wake up and seeing what is going on in front of them before it is too late.
For the last 2 years I've been trying to get a loan to expand my business and banks have been very tight. My projections are very strong and the new location will be great, but the banks focus on the sub-optimal performance of my current location, which I bought as an existing franchise and had no control over siting it, building it, or maintaining it. I may be close to getting the financing I need, but after about 10 banks and Capital financing companies, it's been a LOOOOONG road.
Good luck with financing your business. It is strange behavior when you have credit history and elaborated business plan.
Yes, it is strange, but I think I still have a chance to get started before the big collapse. Thanks for the encouragement!
Actually we are at the end of "The End". It has been a long 9+ years of "The End" but we only have a few months of this old paradigm left. By "The End" of this year, this world will be un-recognizable.
You really believe that?
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Divide and conquer is a tactic that is thousands of years old , but still used by many militaries around the world today including ours ❗️Read the book THE ART OF WAR . You will find that the elites are very familiar with this method of delegating responsibility on all of our citizens .
Thank you for the information I'm going to look into it more