Imagine if food and electric power were included. The metric has been changed 5 times since 1989.. now rubber bands are weighted heavily in their calculations:)
Welcome to the world's first fourth world country. Inflation hell.. best to leave it for the Boomers who can afford it. The rest of us need to find another place where we can not be priced out of existence.
It is getting scary. And not all boomers are set with a house they bought 25 years ago either. Many of us older folks over 50 have nothing especially. Especially divorced women. I know multiple people in this same boat. There are going to be tons of elderly homeless people in a few years. Especially those without children. I had to start over with 4 kids and nothing. Renter, work two jobs and barely get by. My rent- not including any utilities is 65% of my income- and it’s going up. Not sure I can keep up this pace working before the body fails me. I’m one of the lucky ones too because I have great kids who are hard workers all summer and during the school year. They help chip in with bills so I know between all of us working we at least won’t be homeless even if we have to all stack up in a one bedroom apartment! Who is going to take care of all these elderly people who have no kids?
Jennifer, sounds like you are doing great raising your children in face of much adversity. And since you are here Im sure they get alternative reality aka truth
So sad to hear, especially with so many opportunities for that older generation. Just throw $100 a month in a market index fund and over 30 years, you would have a little over 1.1M I would imagine even if you purchased any home prior to 2019 and held for 7 years should have equity (didn't have to live in it for 25 years) Salaries have only doubled since 1985 but home prices have done 8-10x in modest areas and 20-25x on coasts. I wish I had been born 30 years earlier.. very reasonable living costs relative to wages. Now we have the decoupling of wages from living costs and asset price inflation so you need to have had a lot of assets accumulated by now to offset the inflation that is to come.. it has barely started. Jobs won't do that with paltry 3% raises on 20% real inflation
I agree! Not the same opportunities available now. And life circumstances sometimes come out of nowhere and knock you on your butt! I never dreamed I would be in this situation when I was 25 with a nice IRA, a home, and owned an apartment building. But still here we are. Many many elderly who will need help. I have a feeling they will just find a way to kill us off.
I understand! I am widowed and younger and it is tough! Even with a higher than average income. The current environment is great if you have a lifetime of assets and really hard for those younger who haven't had the time or ability (due to very high living costs) to save and purchase overpriced assets. It is so very hard as a single. I read that married couples in mid 40s now have 30x the wealth of a single person same age. You simply need both incomes- one to pay living expenses and one to buy assets each month.
Shaking up? The criminals have that covered too. I suppose you can get away with it if you're all family members. But by me they don't allow a 2nd family in the basement or something like that. Single family homes you know. Don't try it or they will slap you with a big ol' fine. Although I'll bet I could fit 6 cardboard boxes on the sidewalk.
No divorce settlement? Most boomer women I know made out like bandits taking 50% of what the marital assets were plus years of alimony and child support if kids. My divorced friends are wealthier than any single women I know and even wealthier than the clowns they divorced (wealth transfer) It is why men do not marry anymore.. too much downside risk
No. He actually bankrupted us completely. It’s only the good guys that get screwed over in divorce. The bums make out like bandits and are not held to any kind of responsibility. Hung on for 25 years and would have made out better if I had left earlier but you know the whole bow thing and everything 😂 We are good. Poor as can be but have peace and safety!
I am VERY happy to hear you are safe.. in the end, there is no wealth without health (safety). I do believe the new financial system (sadly) will reset everyone's traditional wealth. I do not believe it transfers into the new system. Or, we enter true Weimar hyperinflation (which is historically a 5-6 month experience in which the currency is less valuable than a dried up leaf) Literally the "great equalizer" Hyperinflation (unless you own hard assets.. and few do) makes everyone worth the same.. $0
CNBC's Jim Cramer has done it again. In 2008 he declared that Bear Stearns was fine and not in any trouble less than one week before it failed. Now he's declared total victory for #Powell and the #Fed by claiming 2% #inflation has been restored and a #recession has been averted.
Unfortunately history tells us if you've got a bunch of broke homeless people with no jobs, the solution is to hand them a rifle and a uniform and march them off the their deaths. More war inbound
Greg, you need to let go for a week at least. For all we know there might be a Christmas collapse..or not. No amount of your stress will change that so pleeeaase, take the time to recharge mentally, emotionally and physically. We need you in top shape to help us get through what's coming! ❤️
Greg I noticed that in 2001, 2008, and 2020, the market crashes all happened 3-6 months AFTER the yield curve un-inverted. Currently the yield curve is still inverted. Maybe you could look into this
Although in the case of 2008 the crash was over a year after they started cutting. But yes first they start cutting, then the curve un-inverts, then there’s about 3-6 months until the crash
Good point. I was a young man in the 80s and it was a,terrible decade for CPI and jobs. Lost 10 years of my working life retraining, going back to school, working part time jobs with no benefits. It was horrible. Most of my friends had similar experiences.
Good luck with retraining. I did it 4 times in the 1980s. Lost 10 years of my life. Sometimes worked 2 jobs and went to school. I can't believe I had the energy to it. It was a nightmare. I hope you have better luck.
I anticipate this to become a serious crisis in my area this year and the next. I would say a large majority of people from my generation (80-87 birth year) have an extremely tight budget.
The majority of us bought houses 2%-ish interest rates on 25 or 30 yr mortgages but renewing every 5 years...
We who follow Greg know this only goes to ways, hyperinflate till we literally can’t afford rice, beans or peanuts in the store, or start to raise interest rates which will make our 5 year renewal’s impossible.
So there is four scenarios ...
We starve in our over priced homes.
We retain enough purchasing power with rising interest rates and a contraction, and end up in a tent, but still afford food.
Despite best efforts to raise interest rates, it’s too little too late, and we can’t afford a home live in a tent, and our purchasing power is so terrible we are still working our days jobs like dogs just to afford fuel for a vehicle or transportation to our jobs and food.
Four. Second Great Depression. No Food, No Homes, No Jobs.
This is apparent just by comparing my AMEX bill from last year to this year (you can break it down by type of charge) and you can see the grocery bill is UP by a HUGE margin... in fact, conservative estimate is easily 20%...
Soon the commercial real estate market (not just office buildings, but apartment complexes) are going to start to fall quicker and quicker as more and more people start living together in smaller and smaller units...
The depression is upon us... the recession was last year...
Become your own central bank... hold assets... and buy dividend yielding stocks...
Plant a garden... make friends with your neighbors... and meet the local farmers!!!
It will not go like that when the end comes. Friends and neighbors will kill each other when they are starving. Your garden is a target. Your self banking dreams will be a robbery and murder nightmare. The gold silver and crypto will be useless at the outset of a collapse.
Take a look at history. It is there you will find your future.
never run towards the commotion where everyone else is running to turn around and run the other way and get as far away as possible. Just a tip for situational awareness
Yes, situational awareness is key... I also take self defense courses, CCW classes, and workout at least once if not twice a day to stay conditioned. I've fortified my house (as best as I can) with many measures you wouldn't necessarily see at first glance and even taken myself off the traditional grid...
With all that said, if we do see a full scale collapse, I know very well that my chances of survival are low... so I pray.
I agree... I just don't have that capability at the moment... I think you need to be AT LEAST one and a half tanks of gas away from a major city... but for the time being, I'm in a more rural area, but still well within driving distance of a larger metro area... I pray and I do my best...
All part of the plan to crater the economy so that government can move in to "rescue" folks. At this point people should focus on eliminating debt as best they can. Pax
But rnts are going down in Multifamily and thus the forclosure and papersale woill start in mid 2024 on apartments that people paid crazy proces per unit negative cashflow, They buy houses crowd already liquidating and then you have all these new homes being built and built and built with no buyers at 450 to 550k a unit with every snake oil scheme on earth on a mortage for the poor soul that wants these homes. I think by mid 2024 if not sooner you will see a crash that looks like a 1958 Edsel station wagon hitting the wall of the Federal Reserve at 100 miles per hour and the whole building may come down. Anyway You all have a Great Christmas this weekend and get ready next week for some kinda crazy 2024 I think.
The worst thing the fed could do is lower rates, If they were to do this. Housing would inflate even more. You can forget any of our children ever being able to afford a new home. Goodbye middle class, it was nice knowing you.
Merry Christmas I feel like we have enter MAD MAX world.... Inflation Venezuela 360-400% Argentina 400% Turkey over 100% USA 30% housing a lone rents are up 25%, food jumped 40% and gas last 24 months up 200%... The markets rides on fumes higher and higher very difficult to figure out BS... Print print print....
Imagine if food and electric power were included. The metric has been changed 5 times since 1989.. now rubber bands are weighted heavily in their calculations:)
(homelessness is skyrocketing)
Welcome to America
Welcome to the Shit Hole of the World..
Welcome to the world's first fourth world country. Inflation hell.. best to leave it for the Boomers who can afford it. The rest of us need to find another place where we can not be priced out of existence.
It is getting scary. And not all boomers are set with a house they bought 25 years ago either. Many of us older folks over 50 have nothing especially. Especially divorced women. I know multiple people in this same boat. There are going to be tons of elderly homeless people in a few years. Especially those without children. I had to start over with 4 kids and nothing. Renter, work two jobs and barely get by. My rent- not including any utilities is 65% of my income- and it’s going up. Not sure I can keep up this pace working before the body fails me. I’m one of the lucky ones too because I have great kids who are hard workers all summer and during the school year. They help chip in with bills so I know between all of us working we at least won’t be homeless even if we have to all stack up in a one bedroom apartment! Who is going to take care of all these elderly people who have no kids?
Jennifer, sounds like you are doing great raising your children in face of much adversity. And since you are here Im sure they get alternative reality aka truth
regarding money. I respect and compliment you
By the Grace of God! Pray for His help every day!
So sad to hear, especially with so many opportunities for that older generation. Just throw $100 a month in a market index fund and over 30 years, you would have a little over 1.1M I would imagine even if you purchased any home prior to 2019 and held for 7 years should have equity (didn't have to live in it for 25 years) Salaries have only doubled since 1985 but home prices have done 8-10x in modest areas and 20-25x on coasts. I wish I had been born 30 years earlier.. very reasonable living costs relative to wages. Now we have the decoupling of wages from living costs and asset price inflation so you need to have had a lot of assets accumulated by now to offset the inflation that is to come.. it has barely started. Jobs won't do that with paltry 3% raises on 20% real inflation
I agree! Not the same opportunities available now. And life circumstances sometimes come out of nowhere and knock you on your butt! I never dreamed I would be in this situation when I was 25 with a nice IRA, a home, and owned an apartment building. But still here we are. Many many elderly who will need help. I have a feeling they will just find a way to kill us off.
I understand! I am widowed and younger and it is tough! Even with a higher than average income. The current environment is great if you have a lifetime of assets and really hard for those younger who haven't had the time or ability (due to very high living costs) to save and purchase overpriced assets. It is so very hard as a single. I read that married couples in mid 40s now have 30x the wealth of a single person same age. You simply need both incomes- one to pay living expenses and one to buy assets each month.
The powers that be WANT more homeless people on the streets -- to scare the rest of us into running even faster on their hamster wheel.
Bravo Jennifer, and if I was single I would marry you...
😂 Well I guess there is hope for this old lady! This certainly is an interesting bunch of people here. Thanks to Greg M I’m learning a lot!
You are not old and I am 67 years young and I can outwork any 20 year old punk...
Shaking up? The criminals have that covered too. I suppose you can get away with it if you're all family members. But by me they don't allow a 2nd family in the basement or something like that. Single family homes you know. Don't try it or they will slap you with a big ol' fine. Although I'll bet I could fit 6 cardboard boxes on the sidewalk.
No divorce settlement? Most boomer women I know made out like bandits taking 50% of what the marital assets were plus years of alimony and child support if kids. My divorced friends are wealthier than any single women I know and even wealthier than the clowns they divorced (wealth transfer) It is why men do not marry anymore.. too much downside risk
No. He actually bankrupted us completely. It’s only the good guys that get screwed over in divorce. The bums make out like bandits and are not held to any kind of responsibility. Hung on for 25 years and would have made out better if I had left earlier but you know the whole bow thing and everything 😂 We are good. Poor as can be but have peace and safety!
I am VERY happy to hear you are safe.. in the end, there is no wealth without health (safety). I do believe the new financial system (sadly) will reset everyone's traditional wealth. I do not believe it transfers into the new system. Or, we enter true Weimar hyperinflation (which is historically a 5-6 month experience in which the currency is less valuable than a dried up leaf) Literally the "great equalizer" Hyperinflation (unless you own hard assets.. and few do) makes everyone worth the same.. $0
I had a heated debate with an American poster yesterday, he was saying at how great the USA is and how bad Canada and Cuba is...
The Stock Market Will Crash Jan. 2024!
Peter Schiff
@PeterSchiff
CNBC's Jim Cramer has done it again. In 2008 he declared that Bear Stearns was fine and not in any trouble less than one week before it failed. Now he's declared total victory for #Powell and the #Fed by claiming 2% #inflation has been restored and a #recession has been averted.
6:39 PM · Dec 22, 2023
Seriously, rubber bands?!
Well, to be fair paper clips, too
Unfortunately history tells us if you've got a bunch of broke homeless people with no jobs, the solution is to hand them a rifle and a uniform and march them off the their deaths. More war inbound
Greg, you need to let go for a week at least. For all we know there might be a Christmas collapse..or not. No amount of your stress will change that so pleeeaase, take the time to recharge mentally, emotionally and physically. We need you in top shape to help us get through what's coming! ❤️
Greg I noticed that in 2001, 2008, and 2020, the market crashes all happened 3-6 months AFTER the yield curve un-inverted. Currently the yield curve is still inverted. Maybe you could look into this
Yes, there's a lag when the 10Y-2Y goes back over 0.
A more telling crash predictor occurs the Fed Funds rate is cut.
https://fred.stlouisfed.org/series/FEDFUNDS
Every single downturn occurred shortly after the rate cut no matter how high or low it was.
Although in the case of 2008 the crash was over a year after they started cutting. But yes first they start cutting, then the curve un-inverts, then there’s about 3-6 months until the crash
Shadow stats state real inflation is about 8% using the 1991 CPI equation.
Good point. I was a young man in the 80s and it was a,terrible decade for CPI and jobs. Lost 10 years of my working life retraining, going back to school, working part time jobs with no benefits. It was horrible. Most of my friends had similar experiences.
Good luck with retraining. I did it 4 times in the 1980s. Lost 10 years of my life. Sometimes worked 2 jobs and went to school. I can't believe I had the energy to it. It was a nightmare. I hope you have better luck.
I anticipate this to become a serious crisis in my area this year and the next. I would say a large majority of people from my generation (80-87 birth year) have an extremely tight budget.
The majority of us bought houses 2%-ish interest rates on 25 or 30 yr mortgages but renewing every 5 years...
We who follow Greg know this only goes to ways, hyperinflate till we literally can’t afford rice, beans or peanuts in the store, or start to raise interest rates which will make our 5 year renewal’s impossible.
So there is four scenarios ...
We starve in our over priced homes.
We retain enough purchasing power with rising interest rates and a contraction, and end up in a tent, but still afford food.
Despite best efforts to raise interest rates, it’s too little too late, and we can’t afford a home live in a tent, and our purchasing power is so terrible we are still working our days jobs like dogs just to afford fuel for a vehicle or transportation to our jobs and food.
Four. Second Great Depression. No Food, No Homes, No Jobs.
You forgot war.
We have not yet begun to suffer.
This is apparent just by comparing my AMEX bill from last year to this year (you can break it down by type of charge) and you can see the grocery bill is UP by a HUGE margin... in fact, conservative estimate is easily 20%...
Soon the commercial real estate market (not just office buildings, but apartment complexes) are going to start to fall quicker and quicker as more and more people start living together in smaller and smaller units...
The depression is upon us... the recession was last year...
Become your own central bank... hold assets... and buy dividend yielding stocks...
Plant a garden... make friends with your neighbors... and meet the local farmers!!!
It will not go like that when the end comes. Friends and neighbors will kill each other when they are starving. Your garden is a target. Your self banking dreams will be a robbery and murder nightmare. The gold silver and crypto will be useless at the outset of a collapse.
Take a look at history. It is there you will find your future.
If that’s the level of collapse, then so be it.
It appears to me that it is a matter of when, not if.
It really makes me sick to see this .
Sadly, I think you’re right… and I have a young son… so I do my best to fight for what’s right
You sound like a good father.
There are things you will need for this fight. Situational awareness is top of the list.
Adapt, overcome and carry on.
never run towards the commotion where everyone else is running to turn around and run the other way and get as far away as possible. Just a tip for situational awareness
Yes, situational awareness is key... I also take self defense courses, CCW classes, and workout at least once if not twice a day to stay conditioned. I've fortified my house (as best as I can) with many measures you wouldn't necessarily see at first glance and even taken myself off the traditional grid...
With all that said, if we do see a full scale collapse, I know very well that my chances of survival are low... so I pray.
Look way past the commuter radius of a city... 3 to 6 hours...
and buy the cheapest acre you can
I agree... I just don't have that capability at the moment... I think you need to be AT LEAST one and a half tanks of gas away from a major city... but for the time being, I'm in a more rural area, but still well within driving distance of a larger metro area... I pray and I do my best...
All part of the plan to crater the economy so that government can move in to "rescue" folks. At this point people should focus on eliminating debt as best they can. Pax
thx
It is disgusting to see a country with such wealth with so much homelessness and drug addiction.
The TRAITOROUS PARASITES NEVER STOP LIEING!!
But rnts are going down in Multifamily and thus the forclosure and papersale woill start in mid 2024 on apartments that people paid crazy proces per unit negative cashflow, They buy houses crowd already liquidating and then you have all these new homes being built and built and built with no buyers at 450 to 550k a unit with every snake oil scheme on earth on a mortage for the poor soul that wants these homes. I think by mid 2024 if not sooner you will see a crash that looks like a 1958 Edsel station wagon hitting the wall of the Federal Reserve at 100 miles per hour and the whole building may come down. Anyway You all have a Great Christmas this weekend and get ready next week for some kinda crazy 2024 I think.
Liar liar pants on fire!
these pigs would indeed try to sell ice to an eskimo!
The worst thing the fed could do is lower rates, If they were to do this. Housing would inflate even more. You can forget any of our children ever being able to afford a new home. Goodbye middle class, it was nice knowing you.
Greg
Merry Christmas I feel like we have enter MAD MAX world.... Inflation Venezuela 360-400% Argentina 400% Turkey over 100% USA 30% housing a lone rents are up 25%, food jumped 40% and gas last 24 months up 200%... The markets rides on fumes higher and higher very difficult to figure out BS... Print print print....