by Chris Black
The economy was so bad in 2008 that monetary stimulus never seen before in history was required to rescue the stock market, causing the biggest stock rally in history, giving us multiple companies with valuations above $2 trillion.
We were told these measures were temporary, but they became permanent.
We are told the economy has never been better, but any attempt to remove the stimulus is said to result in a stock market crash and major recession.
That means the economy cannot function without trillions of dollars injected every year.
That isn’t a strong economy.
That is a Ponzi.
May Payrolls Drop To 13 Month Low But Come In Hotter Than Expected t.co/wBHR083fyk
— zerohedge (@zerohedge) June 3, 2022
The numbers they give us are always bullshit, but I don’t care now because great job numbers are bearish for the upside down insanity of Wall Street.
The Fed has to raise rates to freeze the housing market.
Otherwise every house in the country will be above $200k by the end of June.
Even ghetto houses you could buy for $15k last year are hitting the market for $100k.
The high end has already rolled over. I’m seeing $100k-200k price cuts on homes over $800k.
It hasn’t hit the lower end though.
Criminal realtors are telling clients to offer $50-60k over asking on $200k homes to have any chance of getting an offer accepted, thus enabling them to list future comparable homes at $250k.
Anyone making under $100k a year is rapidly losing any ability to find a house.
Renting isn’t any better.
Also, just end high frequency trading of oil contracts and force delivery of settled contracts at the end of the month.
Oil will fall to $35 within a week.
The energy producers and global governments don’t want a readily available source of abundant energy.
They want shortages, high prices, and record margins.
Wall Street has never made more off the trade of commodities and they don’t want to let off the stranglehold they’ve held for the last twenty years.