Evictions Galore - Prepare for some more Fed Rule-BreakingWell it's starting:
www.washingtonpost.com
Unpaywalled article about the same thing:
money.yahoo.com
So many Americans, 45% of whom*, who do not even have a dollar in savings, and most of those are lower-class, nonsavers who are renters who don't get the benefit of forebearance, are now facing the ensuing reality that we don't live in a benevolent despotate where the king can just forgive all the poor peasant saps. Instead, we live in (the remnants of) a free market, capitalist nation, that runs on "make money or fuck off" (kinda... sometimes.... well if you're not disabled, nonwhite, a woman, or have kids).
www.statista.com * Easily way worse nowadays
It looks like the reckoning is nigh, and we are about to face another good lot of craziness for a couple months (or maybe more if we are lucky). We have a load of debtor, drunkard Americans who work unskilled service jobs about to be homeless, or are already packing their bags. Meanwhile, many American homeowners are being saved, for the time being, by forebearance. On the other hand, there are issues like this*, 9/10 New York businesses not being able to pay full rent.
nypost.com
So what do we do with all this information? What does it tell us about the future? Much similar to my last article, there is a coming big change to the way debt will have to be handled as to prevent a massive bust - in this case, prevent millions of Americans becoming homeless within a few months to a year. If so many of these nonsaving, generally low IQ, probably prone to anger (vengeance-seeking is an attribute of lower IQ people. Can't control impulse.) people are going to lose their fancy leveraged lifestyles they have been given on a silver platter by a thieving government (that stole it from the Chinese and all the other third worlds that could benefit from taking back what they've been giving us for decades) then they'll probably wanna start rioting and throwing up signs about how angry they are, maybe even start hurting people they deem blameworthy.
Where do we go from here? There'll have to be massive action from congress and the Fed. That's it. The dollar is gonna have to take a big ole kick to the teeth to prolong the damage that has been done by the onset of sober reality to our nonexistent economy. I think the couple months of waiting for something to happen will pay off by the end of the year when either we have another nice drop in the stock market (making Donald Trump shart his pants), or the Fed enacts that beautiful cryptocurrency*, lowers rates, buys corporate bonds, delivers bailouts, or finds some way to unconstitutionally defy the law written for them.
www.bis.org
