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We could have another 2008 massive foreclosure if many people get behind in their mortgages. Then home values will take a dive and those that bought at a high price will find their home is not worth what they paid. It has also been reported many Americans are behind in their vehicle payments now. It can in time get much worse.
from last week, I believe the delinquency rate is well below 5%.
I’m hoping for a complete and total economic collapse, just so the Democrats are hurt politically!
I pray to Jesus every day for total societal collapse. We need to get these heathens and socialists out of office!
You're joking, but seriously, that's how all these "wow, it's THE END aand we can't WAIT to watch America go down in flames 'cause that'll teach the libs!" posts go. Good lord...
Maybe those on the right are simply smarter than the average person. I am not sure, but it looks to me like the left is trying to destroy this country so they can have their new world order. This much incompetence is simply not believable. It's being done intentionally.
Or maybe they're just neurologically wired to desire an adrenaline thrill and this is how to get it. Honestly, "smarter than" doesn't seem to fit at all with any studies I've ever seen, so that's out. It is a conspiracy mindset, and it's a thing.
And I didn't say there is *nothing* to see here. But when it gets to Four Horsemen-style levels it's ridiculous. I've been hearing one thing or the other is THE END ANY MINUTE NOW from conservatives since I was a child. I'm in my 50s now. Conservatives can't get enough of the odd excitement of hoping everything will go down in flames any minute. Blaming that on "the left" is projection.
You're joking, but seriously, that's how all these "wow, it's THE END aand we can't WAIT to watch America go down in flames 'cause that'll teach the libs!" posts go. Good lord...
Nobody WANTS to see this country go down in flames. Nobody wants to be paying huge amounts for gas, huge amounts to heat your home, and huge amounts for food. We want things the way they were when the last guy ran things - you know the "orange man" with the mean tweets, who had an AMERICA FIRST policy, not some new world order global BS. We want fair elections and corruption stamped out. Asking too much?
And don't even try to tell me that the 2020 election was fair. Whether or not fraud decided it (I believe it did)....having the entire social media aligned against Trump and helping Biden....isn't fair.
Biden was not president in 2020. Joke's on you. The reopening phase was long ago. We have real expansion going on. I expect the Fed will kill the goose here, though, and we will have a recession by 2023. But it ain't happening right now.
The Fed says GDP contracted in Q1, so what expansion are you talking about?
The only expansion happening is the gov't expanding spending, & their takeover of the private sector of the USA, which has been underway since 1930 when just 10% of GDP was consumed by gov't...its now ~50%...yes, Government takes & consumes 1/2 of everything we produce....and growing rapidly.
At this trajectory, EVERYTHING will collapse, and not just the stock market. We'll be wishing it was 1929.
Nobody WANTS to see this country go down in flames. Nobody wants to be paying huge amounts for gas, huge amounts to heat your home, and huge amounts for food. We want things the way they were when the last guy ran things - you know the "orange man" with the mean tweets, who had an AMERICA FIRST policy, not some new world order global BS. We want fair elections and corruption stamped out. Asking too much?
And don't even try to tell me that the 2020 election was fair. Whether or not fraud decided it (I believe it did)....having the entire social media aligned against Trump and helping Biden....isn't fair.
I understand your complaints about what is *actually* happening, we are in a post-pandemic crisis. I get that.
However, I'm sorry, it is **always, always** conservatives saying it's "the end" and then claiming it's the left that wants that. So then how come you guys always bring it up? And how come it never happens but you still insist that this time, it's actually happening?
Claiming "the left wants the end to come" is projection. Let's all grow up and accept that reality. Enough putting your stuff on someone else, just own it, there's something exciting about it to a certain mindset, I feel it's odd but I'm not that mindset. But either way I refuse to own someone else's stuff in that way. YOU guys always say this...if someone "wants" everything to crash and burn, it sure isn't the faction that ISN'T constantly bringing it up with exclamation points and grinning emojis.
As for you want fair elections...sure. Because there's so much proof of unfair elections? It's just another way to trigger a brain wired to desire panic and to feel relevance. Look it up. It could be very revealing to you.
It is NOT the left who "wants things to crash," that has always been projection. I have heard it from the far right or even the average rightie for half a century now whenever there is any blip anywhere, and then you claim the left is "designing" all these exciting endings that never happen? Think about it.
Or if you really have a neuro or emotional need for feeling in the secret "know" (not you, BeerGeek specifically, but anybody), how is it you've never entertained the conspiracy theory that you're the ones being led by your own neurology and personality, by your own party, to control you and your vote? I mean...logic.
Way different mortgage lending and debt repayment as compared to 2007. No vast seas of unknown global debt malinvestment risks as back then. Actual home equity is higher, defaults lower.
I do believe that housing in general has peaked, but not doomed for any 2008 style crash taking down the world.
its not different
when clinton (his chief's of HUD: Henry Cisneros, and Andrew Cuomo) changed the mortgage rules, housing skyrocketed...way past it "value"...WBush continued the Clinton policy, and the housing crash happened....
what caused the "great recession"; two main things and one last thing that broke the dam....Liberal outsourcing, Liberal "easy mortgages", and the final straw Liberal raising the min wage in 07...and what has been happening the last decade+ , outsourcing still happening...mortgages have been near free... no=doc mortgages continued under Obama, free money given away by the government
Today (BTW, Obama started this round) housing has skyrocketed, and defaults are increasing, and will increase even more as mortgage rates increase (mortgage rates have doubled in the last 6-12 months(from a low at about 2% to now nearing 6%))
Biden's and the Democrats economy ways, just don't work anymore.
Well, in two more years, there is another general election. Just like always. And we will all decide (or rather, the EC will decide on behalf of our vote). Just like always.
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Think about it.
