The sky is falling! (maybe)

[Ironman8]

It's already happened, and I don't see any plausible way it can be stopped at this point. It's a predatory lending system from the ground up, and it's getting close to the time when the piper is going to want to be paid.

I'm not sure what you mean by "on a dime." This has been in the works for many decades.

Predatory lending (in terms of RE) doesn’t TIGHTEN lending standards and exclude people who are on the bubble of being a qualified buyer. The stated income loans that were done back in 07-08 could be considered predatory and is what led to the market crash. That’s where Dodd Frank and Safe Act came in to make sure that didn’t happen again.

I don’t disagree that we’re headed for some tough times economically, but I don’t necessarily agree with how you are saying it will go down. And no, I don’t know how it will happen or what steps will be taken to get there. Nobody does.

[Twilk73]

My work is busy, but I do work a necessary trade. I'm making more than I could have imagined. I just got a 33% raise last year but everything is just going up in price. Either way I'm still spending money when I can find what I want. The only thing that's effecting me right now is housing. We wanted to sell our house to buy another. Sure it's a great time to sell but than it's not a great time to buy. I do not want to sell and live in an apartment because we'll I'm a five person household. Plus my current living situation is dirt cheap. Although I live next to hoodlums, not dangerous just trashy. Im trashy though, I had chickens for a few years before the borough threatened to fine me $500 a day. We might need chickens, if things really get bad I'd have plenty of eggs.

[daddyusmaximus]

I've been watching. Problem is I've nothing to withdraw from the bank. Living on VA disability, I'm already broke most of the time.
But I have food, water, some other supplies, guns, ammo, the will to live...




and the will to stop those who don't want me to.

[okie]

Predatory lending (in terms of RE) doesn’t TIGHTEN lending standards and exclude people who are on the bubble of being a qualified buyer. The stated income loans that were done back in 07-08 could be considered predatory and is what led to the market crash. That’s where Dodd Frank and Safe Act came in to make sure that didn’t happen again.

I don’t disagree that we’re headed for some tough times economically, but I don’t necessarily agree with how you are saying it will go down. And no, I don’t know how it will happen or what steps will be taken to get there. Nobody does.

A few thing to unpack. So like I said, this is a 100 year long process. Just because they're tightening standards now doesn't excuse what they've done in the past. It's also a bunch of smoke and mirrors. They're just going about it in a different way this time.

I was also talking about the fed lending to the treasury, with us on the hook for the debt, without our consent, and in violation of our founding document and everything our founders stood for. The taxes required of us to pay the interest are a huge part of what has caused the wealth gap, and what has economically devastated the middle class to the point that both parents have to work and still can't afford to maintain some semblance of a middle class lifestyle without going deep into debt. That is a disgrace, especially when you look at the deflationary impact of technology. We as a nation should have a much higher living standard with much lower consumer credit.

[okie]

I've been watching. Problem is I've nothing to withdraw from the bank. Living on VA disability, I'm already broke most of the time.
But I have food, water, some other supplies, guns, ammo, the will to live...




and the will to stop those who don't want me to.

Keep an eye on Bitcoin. If it gets stupid cheap, buy a little bit. If and when the media declares it dead, that's the buy signal. Don't invest more than you can lose, but if I'm right a relatively small investment at that point could pay off big. If we fall to the deflation side, and it's as bad as I suspect it will be, I wouldn't discount sub dollar prices.

[daddyusmaximus]

Keep an eye on Bitcoin. If it gets stupid cheap, buy a little bit. If and when the media declares it dead, that's the buy signal. Don't invest more than you can lose, but if I'm right a relatively small investment at that point could pay off big. If we fall to the deflation side, and it's as bad as I suspect it will be, I wouldn't discount sub dollar prices.

Don't trust electronic money. I know there's been people make a lot if they buy, and sell at the right time, but I'd buy in, the system would get hacked, and I'd have zero.


I'm investing in lead...