We are likely about to see a second Great Depression!

Watching CNBC this morning like I do most weekdays and I saw a headline about mortgage rates. This is always a concern for me so I decided to watch. They are now saying rates are too high and the vast majority of buyers with good enough credit already bought or refinanced while the rates were low..

Boy have we seen this before? Remember NINJA loans? No Income No Job Approved! Just sign here! Then when the teaser introduction rate sky rockets you can't pay the loan but the bank doesn't care because they already used credit default swaps, collateralized debt obligations and 1500 other made up ways to profit off the backs of hard working people!

This is exactly what happened between 1999 and 2008 before the huge housing market bubble crashed most recently.. It dragged down the stock market and made people panic, which led to an almost complete systemic failure of the world financial institutions! And yet here we are 10 years later, same problem and FAR FAR FAR more currency in circulation!

What happened? Do you remember QE? The federal reserve just invented new money out of thin air and handed it at their decision to certain banks and corporations to bail them out! They picked the winners and losers and showed us that they are the ones really in charge. They then stuck the interest for all that and the payback on the backs of hard working people! Sounds crazy right? What about the fact that they never took all that new currency out of circulation?

We now live in a world where the relative buying power of fiat currency, specifically the USD has not changed much since the crash 10 years ago. Yet we have over 100 times more paper dollars circulating.. Did our wealth grow 100 times since then? That is what we are being told. Otherwise inflation would have caught up. No wonder the federal reserve is finally raising interest rates.

The small guy wants to buy a home and new truck for the first time in 10 years! The banks and HUGE corporations built up around them already had a decade to launder that money and get on the right side of the market for the next crash! Now they want to extract every penny they can from the average hardworking person and line their pockets with even more! We will see a huge crash more than likely in the next 2 years! I fear we are in 2006/2007 all over again right now! Only this time we have to inflate the debt away with a new scam the federal reserve conjures up!

Feds have rates going up and banks are saying mortgage rates are going too high and too few qualified buyers! Their game now is to get people who can't get approved into homes they know they will foreclose on and profit off in just a few months/years! Welcome housing bubble 2018/19! This is 2007 all over again only this time wooooooosh we are going to watch it spill over into every aspect of life. Get ready for a depression people!

Don't forget they will most likely blame it all on President Donald J Trump, the billionaire president of the United States of America! That is the logical scapegoat! Who better to crash the market on than the guy seeking re-election that is a billionaire and many already do not like? That will divide the nation and world for that matter so much that it will lead to chaos and potentially riots and anarchy! The world needs to avoid this outcome at all costs it will not end well for any of us if it plays out this way!