The Federal Reserve’s upcoming decision has generated a split forecast among traders, with probabilities evenly divided between a quarter-percentage-point cut and a more substantial half-point reduction. This uncertainty has stirred the financial markets, which had enjoyed a period of relative stability over the past year. The possibility of rate cuts, prompted by a cooling job market, has reignited concerns about whether the Fed has delayed its response to shifting economic conditions.

Stock and bond markets are currently presenting divergent interpretations of the future. While bond yields have plummeted, reflecting a market bracing for a series of rate cuts indicative of recessionary fears, the stock market has demonstrated resilience. The S&P 500, for instance, has recovered from recent sell-offs, maintaining a year-to-date increase of 18%. This suggests a prevailing investor optimism that the Federal Reserve might successfully forestall a recession.

Rick Rieder, BlackRock’s chief investment officer for fixed income, captures the market’s volatile sentiment:

“Markets have been on edge for the last month or two,” said Rick Rieder. “You’ve seen bonds move rapidly from a sanguine view to recession.”

The bond market’s aggressive pricing in of potential rate cuts, as noted by Alicia Levine from BNY Wealth, underscores the market’s reactionary nature:

“The bond market seems to be pricing in many more rate cuts than would be warranted if we see a soft landing with 2% GDP growth,” said Alicia Levine. “I think it tends to overexert itself on the number of cuts and then takes it back as data comes in that suggests otherwise.”

David Kelly of J.P. Morgan Asset Management discusses the dichotomy of potential outcomes:

“I see two possible outcomes here: We have a soft landing and the Fed can slowly cut interest rates like they intend. Or, there’s maybe a 30% chance it all goes horribly wrong, we slide into a recession and the Fed panics and cuts very aggressively,” Kelly said. “I think what you’re seeing in the futures market is a sort of weighted average of those two views.”

As we approach this critical Fed meeting, the financial community remains on high alert, parsing every piece of economic data and Fed communication for clues to the future path of monetary policy. The interplay between the bond and stock markets highlights the complexity of predicting economic trends. Understanding these dynamics is crucial for financial professionals, business leaders, and engaged citizens alike, as these decisions have far-reaching implications for the economic landscape and investment strategies.

Historically, September has been the weakest month for the S&P 500, with the index declining an average of 1.2% since 1928. In fact, it has ended lower 56% of the time during this period, according to Dow Jones Market Data.

As investors look ahead, all eyes will be on Wednesday’s inflation report to assess whether price pressures are easing. Additionally, the performance of major tech stocks, particularly Nvidia, will be closely monitored as they attempt to recover from recent losses. Analysts and portfolio managers are grappling with a more pessimistic outlook following a robust rally in the first half of 2024.

“We were already tensed up [ahead of the jobs report], and now it seems like economic data is not moving in the right direction,” said Callie Cox, chief market strategist at Ritholtz Wealth Management.

The Federal Reserve is widely anticipated to cut interest rates at its upcoming meeting on September 18. The key question remains whether the Fed will opt for a traditional quarter-percentage point reduction or take a more aggressive stance with a half-point cut.

Market observers, including Cox, were left wanting for clarity after the jobs report. While job growth in August was stronger than the previous month, the overall numbers still fell short of expectations, and the unemployment rate edged down.

Some investors are advocating for a more substantial rate cut to stimulate the labor market, while others express concern that such a move could send a negative signal to financial markets, potentially triggering a deeper downturn.

In addition to the uncertainty surrounding the Fed’s plans, market volatility is expected to persist as the November election approaches. Historically, October has been the weakest month for stocks during election years, with the S&P 500 averaging a decline of 1.4% since 1980.

Despite the S&P 500 being up 13% year-to-date, sentiment has shifted in recent weeks. The weaker-than-expected jobs report in July raised questions about the economy’s resilience and whether the Fed had delayed necessary rate cuts. The unwinding of popular trades on August 5 further exacerbated the situation, leading to the S&P 500’s worst day in nearly two years.

This downturn has reshuffled the market’s winners and losers, with Nvidia and other AI-related stocks losing some of their luster. Nvidia’s stock plummeted 14% last week, erasing a staggering $405.7 billion in market value—the largest loss for any company on record. In response, investors have shifted their focus to defensive stocks, with only the consumer staples and utilities sectors showing gains this month.

Should the S&P 500 finish September in the red, it would mark its fifth consecutive decline for the month.

The extent to which the so-called “September effect” influences market behavior remains uncertain. One prevailing theory suggests that traders returning from vacation may sell off their winners and harvest tax losses, amplifying market movements, according to Jay Woods, chief global strategist at Freedom Capital Markets.

“September kicked us in the teeth on day one,” Woods remarked. “Now, we’ll have to see if we can recover.”

Despite the recent market downturn, some metrics indicate that stocks may still be overvalued. Companies within the S&P 500 are currently trading at 21 times their projected earnings for the next 12 months, surpassing the 10-year average multiple of 18, as reported by FactSet.

In the bond market, Treasury yields fell following the jobs report, with the benchmark 10-year Treasury yield closing at 3.710%, its lowest level of the year. Typically, bond yields decline as prices rise, as investors seek the safety of U.S. Treasurys during turbulent market conditions.

“The question is how much does the Fed need to react to the idea of a slowing labor market as opposed to a shrinking labor market,” posed Steve Sosnick, chief strategist at Interactive Brokers.

As September unfolds, investors will be keenly watching for signs of recovery amid the prevailing uncertainty.

Major U.S. indexes recorded their worst day since early August, with the S&P 500 plummeting 2.1% and the Nasdaq Composite crashing 3.3%. The Dow Jones Industrial Average, meanwhile, lost a staggering 626 points, or 1.5%.

Now, after seemingly rushing back from the Labor Day holiday, traders were met with disheartening data that reignited fears about the manufacturing sector. Is this just another example of the Biden-Harris administration’s failure to manage the economy effectively? The benchmark 10-year U.S. Treasury yield fell to 3.843%, down from 3.910% on Friday, signaling a lack of confidence among investors.

“We have faded this growth scare perhaps too soon,” said Arun Sai, senior multiasset strategist at Pictet Asset Management. But one has to wonder: are we really just being overly optimistic, or is there something more sinister at play here?

Investors had been riding high on nearly two years of double-digit gains for the S&P 500, but this recent downturn exposes the market’s vulnerability to sudden reversals. While the surging market has created millionaires and boosted many Americans’ net worth, it has also left stocks looking alarmingly overpriced. Companies in the S&P 500 are trading at about 21 times their projected earnings over the next 12 months, well above the 10-year average of roughly 18, according to FactSet.

Even with Tuesday’s decline, the S&P 500 is still up 16% for the year. However, it’s worth noting that the index hasn’t experienced a correction—a pullback of 10% or more from a recent high—since last October. Is this a sign of impending doom?

Data released on Tuesday revealed that U.S. factories are grappling with ongoing weakness in demand. The ISM’s purchasing managers’ index came in lower than expected for August and remains in contraction. S&P Global’s PMI also stayed in contraction, while construction spending data showed a larger-than-anticipated decline. With Friday’s monthly jobs report looming—a key reading that could dictate the Federal Reserve’s next moves—investors are left to wonder if the Fed’s actions are coming too late to avert a recession.

“The story’s not written yet,” said Josh Jamner, investment strategy analyst at ClearBridge. But can we really trust that the Fed will act in time to save us from a downturn?

The Fed is widely expected to initiate its first interest-rate cut later this month. Chair Jerome Powell has made it clear that “the Fed intends to act to stave off a further weakening of the U.S. labor market.” But with the current economic climate, one has to question whether these measures will be enough.

Tech stocks were hit particularly hard on Tuesday, with Nvidia shares plummeting 9.5%. This catastrophic drop resulted in a staggering $279 billion loss in market value—the largest one-day decline in market cap for a U.S. company on record. Despite this, Nvidia is still up 118% for the year. Other chip stocks followed suit, with the PHLX Semiconductor Index down 7.8%.

Boeing also faced a rough day, with shares falling 7.3% after Wells Fargo downgraded the stock, knocking off about 84 points from the Dow industrials index.

In a rare twist, traditional defensive plays—those stocks investors typically flock to during economic uncertainty—managed to shine. Consumer staples and real estate stocks saw gains, but can they really be trusted to hold the market together?

In the commodity markets, fears of dwindling demand from China sent oil prices tumbling. Front-month Brent crude futures dropped 4.9% to $73.75 a barrel, marking its lowest value of the year. Copper prices also fell, dragging down shares of mining and energy companies.

Overseas, Japan’s yen appreciated against the dollar, but will this be enough to offset the turmoil brewing in the U.S. markets? As we navigate these turbulent waters, one thing is clear: the stakes are high, and the future remains uncertain.

Perhaps now is a good time to move wealth or retirement to physical precious metals.

The temporary rebound being reported on August 6 is simply a momentary reprieve, it would seem, before the bottom falls out completely.

We may not know the day nor the hour, but it is coming – and it will take everyone by surprise. One day the markets will be “fine,” and the next day they won’t. Will the “experts” see it in advance or will it take everyone by surprise?

After plummeting by 1,009 points, or 2.5 percent, on August 5, the Dow rose by 294 points, or 0.8 percent, the following day. Both the S&P 500 and the Nasdaq Composite rose by one percent the same day.

The Cboe Volatility Index, also known as VIX, hit its highest level in four years on Monday. The last time things were this volatile in the markets was at the start of the Wuhan coronavirus (covid-19) “pandemic.”

(Related: Just in time for the election season, the world markets are going berserk – will the nation make it to Election Day without a major crisis?)

America’s financial Titanic is sinking fast

Talk of recession is increasing, with some pointing to a depression or worse once the cookie crumbles. Nobody really seems to know the full extent of what awaits the nation once the financial Titanic sinks, but we know it’s coming.

Japan’s market losses on Monday were worse even than the 1987 “Black Monday” loss. This foreshock, of sorts, is paving the way for the big one, which the “plunge protection team” (PPT) will be unable to delay, avert or dance around.

Ninety-three-year-old Warren Buffett reportedly lost $15 billion during Monday’s plunge, this despite selling off about half of his Apple holdings the previous Friday. Like many other billionaires addicted to money, Buffett is stockpiling Federal Reserve Notes (FRN) rather than stocks in anticipation of what is coming.

Meanwhile, Joe Biden is bragging on X about how amazing the economy supposedly is. He claimed to have “canceled student debt for nearly 5 million borrowers through various actions,” as well as “made the largest increases to the Pell Grant in a decade.”

Nobody wants to admit that anything is wrong as they instead choose to embrace the fairy tale that all is well. And it would seem that most Americans have bought the lie hook, line and sinker.

The money masters are screaming for the Federal Reserve to slash interest rates so they can keep the Wall Street casino open, but doing that will lead to even more inflation, and eventually hyperinflation once the dust settles.

There is simply no fixing this corrupt fiat currency system as it enters the final stages of its inevitable demise. The only question is when will the bottom finally fall out for good?

“One thing is for certain … the rich don’t stay losing money for long,” one commenter wrote about how the whole thing is clearly rigged for the upper crust. “These drops create massive opportunities and windfalls for the wealthy. Make no mistake.”

“We are already in recession and are on the cusp of something much worse,” wrote another. “And yet every economic recession brings government subsidies to the banks and corporate thieves under the ‘too big to fail’ scheme.”

“The 90% have seen their wages and wealth redistributed to the Bezos types and it will only happen again.”

The latest news about the upcoming election and the threat of a global financial meltdown to precede it can be found at Collapse.news.

Sources for this article include:

• DailyMail.co.uk
• CNN.com
• NaturalNews.com

The market experienced a worldwide sell-off on Monday that hit American stocks as concerns over a possible U.S. recession take hold, Fox Business reported. Trump took to Truth Social to attribute the downturn to Harris being “even worse” than President Joe Biden, predicting an economic depression in 2024.

“Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole,” Trump posted. “Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”

The Dow Jones Industrial Average plunged 1,000 points on Monday, according to Fox Business.

Trump separately posted that he will bring “PROSPERITY” and peace if reelected, in contrast to Harris. Harris’ campaign X account has yet to address the downturn, as of this writing.

Former Federal Reserve economist Claudia Sahm, who established the “Sahm Rule,” which has accurately predicted past recessions, warned about the economy’s worrisome trajectory following a dismal jobs report on Friday.

The “Sahm Rule” is a sign of the beginning of a recession and takes place when the three-month unemployment rate average jumps by 0.5% or more compared to the lowest three-month average from the past year, according to the Federal Reserve Bank of St. Louis. Sahm on “Bloomberg Surveillance” responded “it triggered” when host Tom Keen asked if “the Sahm rule is in force at this moment,” based on the jobs report data.

Billionaire investor Barry Sternlicht on Tuesday warned that Harris’ policies are harmful to business and that she is more left-wing than Biden.

“I don’t think it’s in her nature to go to the middle. She’s further left than Biden. And she has some policies that are obviously abhorrent to business,” Sternlicht said. “You know, we’ll see how that plays out … And she needs to go to the center.”

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

DownDector reports that users of Charles Schwab, Fidelity, Ameritrade, Vanguard, and E-Trade are all reporting website outages, which have been surging around the start of the US cash session.

For more color on the global stock meltdown, read this earlier note: “Black Monday: Futures Plummet As VIX Hits 62, Japan Suffers Worst Point Drop In History.” 

Just panic, just panic everywhere (courtesy of Bloomberg):

Here’s what X users are saying…

@CharlesSchwab wtf super not cool – so close to losing a long time TOS user after months of downhill app performance since the handoff from TDA#thinkorswim $SPY $QQQ $IWM pic.twitter.com/wVAhby9SSp

— NoSlack4Romeo (@ns4r101) August 5, 2024

https://t.co/wGXe2KE5ya, formerly ThinkorSwim, shows a "technical problem" and is already preventing trades, while Robinhood has halted trading on their site. These financial institutions are protecting their rigged and corrupt legacy systems. It's time for change! pic.twitter.com/NsYnxr59ML

— CryptoRealtor (@mycryptorealtor) August 5, 2024

Won’t even let people log into thinkorswim are you fucking serious? @CharlesSchwab pic.twitter.com/HqHYKZXRui

— Colton Groves (@itscoltongroves) August 5, 2024

Weird. I can't log on to my brokerage account to buy more $TSLA. Tried multiple times. Something tells me this is not by accident looking at how red the market is today.

— Doctor Jack (@DoctorJack16) August 5, 2024

Anyone else unable to log into their brokerage account?

— AntiGanda (@AntiGanda7846) August 5, 2024

Can't log in to @CharlesSchwab brokerage account.

Unacceptable.

— Eric Stevenson (@ewstevenson) August 5, 2024

My brokerage account#USD #Yen pic.twitter.com/HwtUSYHWTi

— Vigneshsr (@vicky_evol) August 5, 2024

@CharlesSchwab won’t even let me log into my account. Have to appreciate the flimsy infrastructure of these brokerage firms on days where it’s most critical to have eyes on your portfolio and be in a position to take action that best fits your own needs. #crash

— Weldon Boley (@WeldonBoley) August 5, 2024

Hmmm.

They solved the problem. You cannot dump your stocks if you cannot log in.

— Big Fish (@BigFish3000) August 5, 2024

The sell-off was triggered by a dismal jobs report showing the US unemployment rate rose to a near three-year high in July. This sparked fears that the Federal Reserve may need to slash interest rates more aggressively than planned to prevent a severe recession.

Major US indices had already fallen the previous day after a raft of disappointing economic data. The declines were compounded by sharp drops in stock markets across Europe, Asia and Japan.

Economists now expect the Fed to cut rates by at least 1.25 percentage points by year-end, starting with a half-point reduction in September. This would make it cheaper for households and businesses to borrow, but the full impact may take months to filter through.

The grim economic outlook has battered retirement savings, with 401(k)s heavily invested in equities.

“The Fed is under pressure from all sides right now to get this right and I’m not confident they will,” said Jonathan Rose, CEO of Genesis Gold Group. “Our phones started ringing off the hook on Friday as Americans started moving their retirement accounts into physical precious metals.”

The sell-off comes amid concerns the Fed has waited too long to pivot on monetary policy. Investors are now panicking that the central bank is behind the curve on rate cuts.

In Asia, Japan’s Nikkei suffered its second-worst point drop ever, tumbling 5.8%. Other regional markets also fell sharply on worries over slowing global growth.

The rollercoaster week in markets came despite central banks in Japan, the US and UK acting largely as expected. But investors are increasingly anxious that high rates could tip economies into recession.

“It’s really a no-brainer with the current state of affairs in America for retirees to want their life’s savings backed by precious metals instead of the volatile markets,” Rose continued. “Our focus on integrity and transparency is why clients tend to work with us over other gold companies.”

Genesis Gold Group is a faith-driven precious metals company. Their open and honest approach to rollover or transfer retirement accounts into a Genesis Gold IRA streamlines the process. As a result, mature Americans can defer taxes while seamlessly moving the money in their retirement accounts into the “safe haven” of physical precious metals.

This is becoming extremely important as market volatility rises. The outlook remains highly uncertain, with much riding on the Fed’s next moves. For now, markets seem braced for further turbulence ahead.

Spitznagel described the yearslong stock market rally as the “greatest bubble in human history.” Drawing parallels to the dot-com bubble, where the Nasdaq plummeted in 2000 after a surge in tech stock investments, he warned that the consequences this time could be even more severe.

“You don’t feel like a fool for making a bearish argument,” Spitznagel told the Journal. He believes the bubble’s burst will be exacerbated by the government’s $34 trillion debt, limiting the Federal Reserve’s ability to stave off a recession.

Despite the current rally, which Spitznagel predicts may continue for several months due to falling inflation and easing monetary policy, he cautioned that stocks could soon lose over half their value in a significant sell-off. He described the market situation as a “mega-tinderbox-time bomb.”

“I think we’re on the way to something really, really bad — but of course I’d say that.”

Spitznagel’s Universa Investments fund specializes in betting on black swan events, having reaped billions during the 2008 financial crisis, the 2015 flash crash, and the onset of the COVID-19 pandemic in early 2020. Although he has been warning of a market crash since January 2023, he now believes the timeline is clearer, with a recession potentially on the horizon before the end of the year.

Americans who believe their retirement and life’s savings may be in jeopardy and want to learn more about rolling over or transferring into an account backed by physical precious metals should reach out to Genesis Gold Group, a faith-driven precious metals company.

Article generated from corporate media reports.

WARNING: Stock Market is due for 50% correction taking S&P below 2674.

Tens of millions of households will have their retirement & savings destroyed by being invested in stock market at these levels?

The yield curve has been inverted for +500 days. This has only happened 3… pic.twitter.com/VrIFQW4YwS

— Grant Cardone (@GrantCardone) May 5, 2024

Cardone’s prediction is rooted in the observation that the yield curve has been inverted for over 500 days since July 2022, a phenomenon that has only occurred three times in the past century – in 1929, 1974, and 2009. Each of these instances was followed by a market fall of more than 50 percent. He also pointed out that the S&P 500, a key indicator of the market’s health, fell almost 30 percent in early 2020 but fully recovered within six months.

However, the reliability of the yield curve as a predictor of recession has been questioned by some experts, who argue that it may no longer be as effective a signal as it once was. Despite this, Cardone remains adamant that the current inversion is a clear warning of an impending crisis. He emphasizes that if his prediction comes to pass, it could result in a 75 percent loss for many Americans, factoring in the impact of inflation on the purchasing power of their savings.

Cardone’s warning has sparked a debate, with some commentators on X (formerly Twitter) suggesting that his call to move retirement savings away from established funds and into real estate might be self-serving. However, Cardone has also previously predicted a significant correction in the real estate market, suggesting that this could present an opportunity for individual and family buyers.

Jonathan Rose, CEO of Genesis Gold Group, added to Cardone’s theory with a reminder about more than economic indicators. Geopolitical events combined with the coming presidential election have prompted a company record in the number of inquiries they’re receiving about Genesis Gold IRAs.

“They say Grant’s recommendations are self-serving and they’ll say the same about mine,” Rose said. “The difference is that while I agree that the stock market may be extremely volatile in the near future, physical precious metals are far easier to liquidate than real estate. Moreover, gold and silver are showing signs of long-term strength while real estate may be in a bubble.”

The Federal Reserve’s recent interest rate hikes have contributed to a slowdown in the housing market, with Cardone urging the Fed to “get out of the way” to allow the market to stabilize. He argues that lower interest rates would encourage more mortgage applications and stimulate the housing market.

In light of these predictions, Cardone advises retirees to consider transitioning their investments from stock market-reliant 401(k)s to real assets that generate monthly cash flow, such as property. He claims to have helped many people do this without incurring penalties, and suggests that this approach can provide a more secure income during retirement. Meanwhile, Rose prefers moving retirement accounts like IRAs and 401 (k)s into physical precious metals that enjoy the same types of tax protections.

Reach out to Grant Cardone on his website or request a free, definitive gold guide from Genesis Gold Group.

Source: DailyMail

But even though we are absolutely flooding the system with cash stolen from future generations of Americans, economic performance has been extremely anemic.

On Thursday, the government reported that the U.S. economy grew at a 1.6 percent annualized rate during the first quarter of this year…

Gross domestic product, the broadest measure of goods and services produced across the economy, grew by 1.6% on an annualized basis in the three-month period from January through March, the Commerce Department said in its first reading of the data on Thursday.

That is much lower than the 2.4% increase forecast by LSEG economists and marks a sharp slowdown from the 3.4% pace seen during the fourth quarter. It is the slowest pace of growth in two years.

“This was a worst of both worlds report — slower than expected growth, higher than expected inflation,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “The biggest setback is the acceleration in core inflation, and in particular, the services sector rising above a 5% annual rate.”

Even if the GDP numbers were accurate, and I don’t believe that they are, that would still be absolutely terrible.

At this point, some pundits are using the term “slowdown” to describe what is happening to the economy…

Some analysts believe Thursday’s weaker-than-expected report signals the start of a broader slowdown in the economy.

Personally, I am entirely convinced that if honest numbers were being used they would indicate that GDP growth is negative.

But in any event, pretty much everyone agrees that we are heading in the wrong direction.

In response to this bad economic news, stock prices plummeted.

At one point on Thursday, the Dow Jones Industrial Average was down more than 600 points, and it closed the day down 375 points…

Stocks tumbled Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation.

The Dow Jones Industrial Average slid 375.12 points, or 0.98%, to close at 38,085.80, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.46% to finish the session at 5,048.42, and the Nasdaq Composite lost 0.64% to 15,611.76.

Not too long ago, the Dow was flirting with 40,000.

Since that time, it has lost nearly 2,000 points.

Will this “slide” eventually turn into an avalanche? What is happening in the bond market is of even greater concern.

The release of the GDP numbers caused U.S. Treasury yields to go completely nuts…

U.S. Treasury yields rose on Thursday after the first-quarter GDP report showed slowing growth and rising consumer prices.

The benchmark 10-year Treasury yield climbed 4.8 basis points to 4.702%, while the rate on the 2-year Treasury gained 6.1 basis points to 4.998%. At their session highs, the yields on both notes hit their highest levels since November.

Let’s keep a close eye on this.

If Treasury yields start swinging too wildly, that is going to have enormous implications for those that trade derivatives.

Shifting gears, we have also just learned that the median price of a home in the U.S. has just hit another brand new record high…

It is more expensive than ever to buy a home in the U.S., according to a new report from the real estate company Redfin.

The median home price hit a record $383,725 during the four-week period ending April 21. That’s up 5.2 percent from a year ago, Redfin found, one of the largest leaps in home prices since October 2022.

Sadly, home ownership is now out of reach for a very large chunk of the population. If you can believe it, Redfin says that the median monthly housing payment has risen “to a record $2,843”…

The median monthly housing payment also jumped to a record $2,843, up 13 percent from the same period last year.

Chen Zhao, the economic research lead at Redfin, said prospective buyers should “accept that this year is probably not the time to find a dream deal.”

Who can afford a mortgage payment of $2,843 a month? That is insane.

Home ownership has never been more unaffordable than it is right now, and young adults that are just starting out are being hit the hardest. Earlier today, I just had to laugh when I came across an article entitled “So you may never own a home. Here’s why maybe that’s … a good thing?”

To me, that sounds eerily similar to “you will own nothing and be happy”. That particular article is directed at young adults in Canada, but millions of young adults in the U.S. are also wondering if they will be renting for life.

Yes, there are some advantages to renting, but you aren’t building any equity. And I think that is what the wizards on Wall Street would like to see.

I think that they envision a future in which they own almost all of the homes and the vast majority of us are renters. The good news, if you want to call it that, is that I don’t think that things will ever get that far.

Our entire system has started to come apart at the seams, and it won’t be too long before it completely crashes. A lot of the “wealth” that we see on Wall Street is just a mirage.

For the moment, stock prices are absurdly high because there are people out there that are willing to pay those prices. But when conditions take a dramatic turn for the worse, the buyers will all disappear and so will the absurdly high stock prices.

So enjoy the last days of the bubble while you still can, because the clock is ticking…

Sound off about this article on the Economic Collapse Substack.

Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.