Is history poised to repeat itself? Do you remember what happened in 2008? Fasten your seat belts, because what you’re about to read is NOT fiction.
The stage is set, the dice are rolled, and the grim dance of financial ruin has begun to whirl. The shadow of 2008 is growing long, and the sinister signs of another historic financial disaster are looming on the horizon, threatening to bring the U.S. economy to its knees.
Michael Burry, the financial maverick who foresaw the collapse of the housing bubble in 2008, has taken the audacious step of betting $1.6 billion that the stock market is poised to crash. With a track record like his, is there anyone brave enough to question his prophecy? Do we dare?
This week, mortgage rates took a harrowing leap beyond the 7 percent mark, reaching the highest level in over 20 years. That’s right, over 20 years! The 30-year fixed mortgage rate has jumped to 7.09%, up from 6.96% just the week prior. This is not a minor fluctuation; this is a shrieking warning bell!
Our housing market, already gasping for air, is in peril. Existing home sales plummeted a horrifying 18.9 percent from the same time in 2022. People who long for a home of their own are left in the cold, shackled by the merciless chains of high mortgage rates.
In a heartbreaking tale of despair, Redfin has unveiled that only 12% of teachers in America can now afford to buy a home near their schools. Once able to live comfortably in their communities, now no teacher in cities like San Jose and San Diego can afford homes within practical commuting distances.
Video: EXPOSED! Banks Stealing Savings
12%! Can you grasp that number? That’s a crash from 17% last summer and 30% in 2019. Our teachers, the pillars of our society, are left out in the cold. Is this what we’ve come to as a nation?
Yet, it’s the Federal Reserve that seems to be playing a treacherous game with our lives. More rate hikes are on the table, they say. The economy needs it, they say. They plan to keep strangling the economy, and what’s more, they seem to be proud of it.
Why, oh why, would they push mortgage rates up to an unthinkable 8 percent level, a rate not witnessed since 2000? What cryptic agenda are they pursuing, knowingly pushing our system to the brink?
And let’s not forget the implosion already taking place in commercial real estate. Fitch Ratings, with a stern and sobering warning, has said that the U.S. banking industry is teetering on the edge of sweeping rating downgrades. JPMorgan Chase, no less, could be at risk.
Yet the officials at the Fed turn a blind eye, oblivious to the obvious, determined to twist the knife deeper into our economy’s heart.
I hope, dear reader, that you have been bracing for the storm. Things are about to get wild, and you don’t want to be caught unprepared. Sadly, with 72% of Americans admitting that they are not financially secure, the prospects look bleak.
The echoes of 2008 ring in our ears. The signs are there, written in bold letters, if only we dare to read them. We stand on the precipice of something massive, something terrifying. And those in power, those who could halt this train, seem hell-bent on accelerating towards the abyss.
I wish I could offer you comfort, but the truth rarely comforts. Brace yourselves, dear readers. This could be the collapse of a lifetime. It’s 2008 all over again, only this time, it seems, it could be even worse. Remember, I warned you.
The stage is set.
The play has begun.
And, oh, what a tragic play it promises to be.
