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THE UNRAVELING OF AMERICA
The stock markets have stabilized at current levels , however we believe that there will be another big leg down once the bad news about the economy is fully realized. Hope we are wrong
Covid Stock Up 400% -FDA Phase 3 Trial – Top Stock
FORGET ABOUT CORONA -THAT’S YESTERDAYS NEWS –
The problem is still the banks, they are the glue that holds this entire economic system together.
Dont worry, your bank wont go under ..the government wont allow it . BUT the banking system will change dramatically . we cant see people going back to work until they have gloves and masks ..If hospitals cant get them how are you going to get them in order to safely return to the office ,store, or restaurant..
Tell me the day we can buy a mask and that will be the day America opens .
When people in mass don’t pay their rent or mortgage payments the banks take a hit..
When people or corporations don’t borrow, the banks take a hit .When banks loan at 1% or 2% they lose money on these loans
Bank collateral ( Homes – Businesses- Machinery – Buildings ) are now underwater . Who do you sell to ? You will need to borrow to buy
ATM machines will be used as anchors while people fish for their daily food because the machines will be useless for dispensing cash.
What the banks and the US Government can do !
1) Banks and US Govt ( A cash Tax ) will charge a fee for you having the privilege of having a bank account.
2) The Fed Reserve will push interest rates down into negative territory which means you pay the bank a percentage for holding your cash…(Its done in Europe)
3) Banks will tighten up on mortgage lending and homes wont sell . It will be the buyers’ market of the century, If you are one of the lucky ones to get a mortgage its your call ..name your price
4) Cash withdrawals will be limited , keeping people from cleaning out their accounts.
5) As usual, the small mom and pop banks will be gobbled up by the larger banks by the thousands as the Fed Reserve – US Treasury clamp down raising their capital requirements,
6) The big states will just run out of money forcing the US Government to guarantee loans to states. ( States cant print money like the US Government can)
JP Morgan is requiring a 700 credit score and 20% down on a mortgage Minorities are cut out of the system once again …
The housing market for the immediate future looks grim. What real estate agent is going to show a house.
You will shop on line and the agent will meet you in the driveway with a key in a plastic bag and yes you will need a mask to enter and where are you going to buy one . maybe the local hospital will sell you one or rent you one for the day .
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