Thanks to the incompetence of President Joe Biden… And the HUGE mistake he made on February 24, 2022… The unthinkable has now happened… The Doomsday Deal is broken. I'm talking about the genius 1974 deal that transformed America into a global superpower. Because of Biden and his cast of clowns… It is now falling apart in front of our eyes. And I predict… Based on my 40+ years of global financial experience… The US dollar will die with it. Bringing in hyperinflation like we've never seen… Crushing the value of the money in your savings and retirement accounts… Tanking our economy… And changing our country's global standing forever. Our enemies – and even our allies – are emboldened. China, Russia, Saudi Arabia are all laughing in our face. They're dumping the deal. If it all plays out like I'm predicting… Biden's blunder will soon cost good Americans EVERYTHING. I'm serious. Here's what Monica Crowley, Trump's Assistant Secretary of the Treasury said to Fox News about Biden's growing problem… “It would be a complete implosion of…the American economic system.” “If you think inflation is bad right now, just wait. “We would lose our economic dominance… “And we would lose our superpower status.” Friend, there's still time to protect your money. But you can't wait. See Biden's terrible mistake here.
P.S. How do I know so much about the Doomsday Deal? Because, 50 years ago, in a secret meeting at the White House, I helped build the blasted thing. I'll show you everything you need to know – including how to protect your money – when you click here now.
The 30-year fixed mortgage interest rate in the United States recently surpassed 8%, a significant increase from historical lows. This rise could have far-reaching implications for the housing market and the broader economy, potentially precipitating a housing crisis and a subsequent global recession. Here's how and why this could happen:
Higher interest rates make mortgages more expensive, which can significantly decrease housing affordability. As a result, potential homebuyers may be priced out of the market, leading to a decrease in demand for homes. This could cause home prices to fall, potentially leading to a housing market downturn.
Increased Default Rates
For those who already own homes, higher interest rates can lead to increased mortgage payments, particularly for those with adjustable-rate mortgages. This can strain homeowners' finances and potentially lead to an increase in mortgage defaults. A significant rise in defaults can trigger a housing crisis, as was the case in 2008.
If home prices fall while interest rates are rising, some homeowners may find themselves in a negative equity situation, where they owe more on their mortgage than their home is worth. This can further increase the risk of defaults, exacerbating the housing crisis.
Impact on Consumer Spending
Housing is a significant part of many people's wealth. If home prices fall, homeowners may feel less wealthy and cut back on spending. This decrease in consumer spending can slow economic growth, potentially leading to a recession.
The U.S. economy is deeply intertwined with the rest of the world. A housing crisis and recession in the U.S. can have global implications. Foreign investors who hold U.S. mortgage-backed securities could suffer losses if defaults rise. Additionally, a slowdown in the U.S. economy can reduce demand for exports from other countries, potentially leading to a global recession.
While an increase in the 30-year fixed mortgage interest rate to 8% does not guarantee a housing crisis or a global recession, it does increase the risk of these events. Policymakers and investors should monitor this situation closely and take steps to mitigate these risks. For homeowners and potential homebuyers, it's crucial to understand the implications of higher interest rates and make financial decisions accordingly.
Will this ugly scandal doom Biden in 2024?
In February 2022, Joe Biden made the most dangerous mistake any President has made in the past 150 years.
If it all plays out like I'm predicting…
Here's what Monica Crowley, Trump's Assistant Secretary of the Treasury…
…said to Fox News about Biden's growing problem…
“It would be a complete implosion of…the American economic system.”
“If you think inflation is bad right now, just wait.
“We would lose our economic dominance…
There's still time to protect your money.
But you can't wait.
P.S. Biden's mistake has kicked off what I believe will be the biggest wealth transfer in the history of our nation. Most will lose. But a few will gain – see how to protect yourself here.