TERRIFYING REALITY 2022 FINANCIAL CRISIS | Has it started? The $62 Trillion Dollar Question

[elkhound]

As the world continues to battle viral outbreaks, the global financial crisis continues to unfold. With less tools available for the central banks to fight a financial collapse, the challenges facing us are reaching colossal size and magnitude. Today we discuss the 62 Trillion Dollar Asset class that could wreck havoc on global markets in 2022.

 

[LadyLocust]

So the real question is at what point do we buy property? I am being real here - would like to hear your input. We sold our place up the mountain and have been casually looking for a couple years for the right piece. We have the $ from the sale of our house & don't want to spend more than we have (no mortgage/ no debt.) We are renting at the moment & running our business here, but looking for land outside the area. Anyhoo, that's where we're at.
Also, this is all essentially what we've been expecting right? I liked that he just said it all in layman's terms and didn't get too deep with the verbiage. I think most of us here are a step ahead of the general population in many areas - especially when this hits.

 

[Aerindel]

So the real question is at what point do we buy property? I am being real here - would like to hear your input. We sold our place up the mountain and have been casually looking for a couple years for the right piece. We have the $ from the sale of our house & don't want to spend more than we have (no mortgage/ no debt.) We are renting at the moment & running our business here, but looking for land outside the area. Anyhoo, that's where we're at.

Well, I would move yesterday on that property. If it's not already too late today, it will be tomorrow.

What was wrong with your place 'up on the mountain' generally speaking, up on the mountain is where you want to be for what is coming.

Because as you say, this is pretty much what we've been expecting.

 

[LadyLocust]

Well, I would move yesterday on that property. If it's not already too late today, it will be tomorrow.

What was wrong with your place 'up on the mountain' generally speaking, up on the mountain is where you want to be for what is coming.

Because as you say, this is pretty much what we've been expecting.

It was only 1 acre on water and "Da Rez" had control over the river so Natives would trespass and there was no prosecution. If you turned them in, you were racists. Also, some white trash neighbors: we actually got along with them, but it wasn't always fun. There was no way to buy more property there so we decided to sell. The other part is, we would like to head to a state that is more "red." Our gov. is doing its darndest to kill small business. We do pretty good from a provisions standpoint but would like to be where there is a little more common-sense happening.
(I don't mean for any of this to sound derogatory, it just is what it is.)

 

[Neb]

Well, I would move yesterday on that property. If it's not already too late today, it will be tomorrow.

What was wrong with your place 'up on the mountain' generally speaking, up on the mountain is where you want to be for what is coming.

Because as you say, this is pretty much what we've been expecting.

Yes a delicate balance.

Get the best you can without going into debt.

As urban life declines so to will suburbia which will creep our into the urban areas.

Get it now and be happy with what God gives us.

Ben

 

[Supervisor42]

It was only 1 acre on water and "Da Rez" had control over the river so Natives would trespass and there was no prosecution. If you turned them in, you were racists. Also, some white trash neighbors: we actually got along with them, but it wasn't always fun. There was no way to buy more property there so we decided to sell. The other part is, we would like to head to a state that is more "red." Our gov. is doing its darndest to kill small business. We do pretty good from a provisions standpoint but would like to be where there is a little more common-sense happening.
(I don't mean for any of this to sound derogatory, it just is what it is.)

You are welcome down here...

... but they make you wrestle a 'gator' to prove you are worthy.

Fortunately I picked a gas-powered one.

 

[Terri9630]

We've been buying property. There's another 80 acres we'd like to buy but we don't want to empty our savings to get it.

 

[Amish Heart]

Time to move, LadyL. Go to a red state, get some land, don't go into debt.
You're welcome in Kansas

 

[Supervisor42]

We've been buying property. There's another 80 acres we'd like to buy but we don't want to empty our savings to get it.

Finance it and pay from savings.
I remember being ecstatic in 1987 when I qualified for an unbelievably low 10.5% mortgage.
(The going rate was 12.5% )
Don't be kicking yourself when you could have locked up 2% money for 15 years when there will be 6% inflation for years.

15-year Fixed Mortgage Rates as low as 1.75% (1.949% APR) as of 12/08/2021

 

[angie_nrs]

As far as I'm concerned, a financial collapse and reset (whatever that may look like) is inevitable. When we started talking about money in the 'trillions', it was the beginning of the end. Then it was trillions and trillions....almost to the point that a billion dollars just seems like chump change. Sounds like a problem to me. By the way, the pic that this video shows is only 1 billion. Multiply that by a thousand (as shown in the short video) and you'll see your trillion dollars. A pallet of $100 bills equates to $100 million dollars. Go ahead and wrap your head around that.


https://newsessentials.wordpress.com/2021/01/25/how-much-land-does-china-own-in-the-u-s/I've heard China owns a lot of property in the US. This article states that it owns 2.2% of farmland in the US, but I also wonder how many properties it owns in cities? What would happen if Brandon was put to task for treason and all those China assets here in the US go back to the people as part of reparations of their treasonous attack? Maybe it would be the poke that bursts the property bubble. In my neck of the woods we are in a huge property and housing bubble right now and it can't stay inflated forever.....unless rampant inflation is here to stay. Even then, that can't sustain itself either without a collapse. That said, I'm OK with what I own right now but I'm always on the lookout for opportunities. I'm not going to vastly overpay for property unless I see a good ROI in the future.

I may not understand all the in's and out's of the worldwide economy, but I know enough to get prepared for it. I think I've spent more on 'stuff' this year than I ever have before. It seems like every time I go to town, I come home with a car load while I still can. I'm getting anything that I think I (or the family) might need in the next year or two. I'm hoping that all of this shakes out for the better of humanity, but that's going to take time, and I think we'll have to endure some financial pain before that could happen.

 

[Biggkidd]

I started looking for land in 04 when I realized what the writing on the wall was saying. Then got sick early 05 (M.S.) and it was mid year 07 when I signed and finally took possession 01/08. Everything that's been happening and is happening was there to see coming if you looked in the right places back then. M.S. really put a HUGE crimp in my prepping & building plans and considering the fact I haven't worked a steady regular job since it's amazing I have been able to prep at all. Thankfully I was able to set our lives up to live cheaply before everything started going to he-- back in 08.

My point in telling you this is BUY NOW DON'T WAIT !

 

[Terri9630]

Finance it and pay from savings.
I remember being ecstatic in 1987 when I qualified for an unbelievably low 10.5% mortgage.
(The going rate was 12.5% )
Don't be kicking yourself when you could have locked up 2% money for 15 years when there will be 6% inflation for years.

We'd rather pay cash. This land is very remote, hard to get to, no wells and no fencing. The guy that's owned it for the last 20 years moved out here 15 years ago tried 3 times to put in a well didn't hit water and moved back to the city. Hasn't been back as far as the neighbors know.

We'd like it for hunting and extra grazing for our cows even if we have to haul water in. Pretty sure hubby wants it mostly for hunting....

 

[Aerindel]

Nobody likes to hear this.

But this is the thing. When The Great Collapse comes, it won't be at a convenient time.

Everyone wants to hedge their bets. Its just human nature. You want the cabin in the woods away from everyone, and the good job with the good health insurance near the good schools. You want to wait to buy your preps when its a good time for you, when they are on sale. When it's easy, when you can do it without burning bridges. There are endless excuses. Good, sensible reasons to wait five years for your investments to pay off, to sell your business, to retire, for the kids to move out, for the kids to move in....etc etc. Perfectly reasonable strategies, endorsed by investors and accountants and politicians.

But when this ceases to become academic, you're going to have to choose. You're going to have to go all in.

A day will come when there isn't just one more day to get ready, when the time is really, truly up and either you have it, or you don't. There will be no second chances, there will be no warning.

By the time it's obvious, by the time the move looks 'sensible' or 'safe'. By the time bugging out seems as logical as investing in your 401K, it will already be too late.

If you really think in your heart of hearts that this is coming, you will have to sacrifice 'normal', you will have to make decisions you can't walk away from if you're wrong. Turn down jobs you won't be offered again, take on debt you can't pay back, cash out savings before they are 'mature', when, if it doesn't happen, you spend the rest of your life living like it did because you burned the bridges to 'normal'.

I truly believe that a time will come, and sooner than later, when some of those who read this now, will one day remember it and realize that its too late to follow their, perfect, safe plan. That the time for plans is over. DEFCON 0,

If you believe this.....take action now. Actually now. I truly think it conditions will never be better than they are today (which already are much much worse than they where last year).

A month from now it will be harder.

A year from now, perhaps impossible.

Someday there will a last 'normal' day. A last time when you can log into a site like this and get advice. A last time when you can go shopping, or buy land, or gas....or....

I do not know when this day will come. It may never come.

It may ALREADY have come....

 

[Spikedriver]

Around '04, good farmland in the county where I grew up could be had for less than $3,000/acre. By '09 that same land was around $10,000/acre because corn went to $7/bushel. Corn went back down, but land didn't. After corn went back to $6/bushel this year, a buying frenzy erupted and prime land has sold from $13k to $17k. The time to buy productive land has come and gone. And I doubt the land will ever go back down enough to matter.

I realize I'm talking about production agriculture land and not a patch up in the hills, but I'm afraid real estate in general is a lost cause. It doesn't matter to me because I'm never heading for the hills, but all those who are just now realizing how much better life could be away from urban centers are going to have to be satisfied with little old acreages, I'm afraid. Because even those are bringing 200k around me...

 

[elkhound]

people have been really moving the last 5 years.the plague just sped it up a bit more last bit. people are looking into any acreage from small to large.they want away from certain areas.one thing i see daily is every piece of ground is being cleaned up in one form or another by either owners thats had it long time and new owners..often the new owners are heirs of small farm tracts that elderly held on till death and was no longer able to care for so let it go to waste instead of letting an heir come in and care for it and the relative.thats bad business to just let things go on indecision to a heir.but anyhow result is lots of land being cleaned up and reestablished for various things from just woodlot management for firewood and timber to cleaned and reseeded pasture and crop fields.this is going on all levels of economic earners as well from poorest to more wealthy folks.

like @Aerindel said sooner rather than later.

things are just out of balance right now on so many levels.its hard to say if we float or sink or something in between .

 

[SLADE]

I would not waste 15 cents on real estate in this country at this time.

 

[Spikedriver]

I would not waste 15 cents on real estate in this country at this time.

If you've got the cash and you can find a decent price, I think it's still a smart deal. But I wouldn't pay the going price for some of the houses now. $160k for an old 1050 Sq ft house is ridiculous in my area. That house was $75k in 2005 and I'm afraid they're going to go back to that price...

 

[elkhound]

https://www.zerohedge.com/markets/evergrande-has-finally-defaulted-heres-what-happens-next

 

[Spikedriver]

I've been looking at this a little bit. Evergrande has way more assets than debt. Like trillions more. Not sure why things are going why they are, but if they downsized and sold off some assets they could pay everything and still have a sizeable company...

 

[LadyLocust]

Thank you all! Like I said, we're looking. There are 2 pcs. of property in particular that have strong potential, one moreso than the other. Both are out of state so it does take some arranging even to go look at them. Hubby and I spoke last night and this morning. I will be making some calls today to make said arrangements. Leaving it to God, but we still have to do our part.

 

[Biggkidd]

I've been looking at this a little bit. Evergrande has way more assets than debt. Like trillions more. Not sure why things are going why they are, but if they downsized and sold off some assets they could pay everything and still have a sizeable company...

I think it was yesterday I was reading about this and the fact that what they had done basically was spend peoples money without completing the projects and moved on the the next and the next on and on. My take was they have tons of partially done projects and many they haven't even started on that were already paid in full.

 

[joel]

 

[bkt]

It's been a long day after way too few hours of sleep last night, so take anything I say with a grain of salt. But this timcast guy bothers me. It's not that anything in particular he says is incorrect. It's that he throws a bucket of poop on the table and says "you're screwed" without providing any suggestions of how to mitigate the situation we're in. That's not helpful. All he does is generate angst. I've met many people like that and I don't speak with any of them today.

I've said for a while that I believe the "pandemic" is a cover story to excuse torpedoing economies. What most people don't know is global economies fell over the cliff's edge a while ago and we've been in freefall. The ground is rushing up at us now, and the powers that be need a means to explain the sudden collapse.

Here are some thoughts in no particular order (and I realize these may be dated, given the cost of things today):

Get out of debt; be under no one's thumb financially.
Have ways to provide for what you need - water and food. For those living in an urban setting, that's going to be difficult but not impossible. For those not in an urban setting, it gets a lot easier.
Have a store of wealth. Dollars are not a store of wealth.
Have a means to stand in front of what you own with a rifle in order to keep it safe.
Have a rifle.
Have ammo.
Have training in use of the above.
Plan for and practice an off-grid communications plan so you can reach those in your group.

This rabbit hole goes deep and it has been covered here a hundred times. It might have been nice if this timcast guy had at least scratched the surface and provided his viewers with a plan and some hope.

 

[LadyLocust]

It's been a long day after way too few hours of sleep last night, so take anything I say with a grain of salt. But this timcast guy bothers me. It's not that anything in particular he says is incorrect. It's that he throws a bucket of poop on the table and says "you're screwed" without providing any suggestions of how to mitigate the situation we're in. That's not helpful. All he does is generate angst. I've met many people like that and I don't speak with any of them today.

I've said for a while that I believe the "pandemic" is a cover story to excuse torpedoing economies. What most people don't know is global economies fell over the cliff's edge a while ago and we've been in freefall. The ground is rushing up at us now, and the powers that be need a means to explain the sudden collapse.

Here are some thoughts in no particular order (and I realize these may be dated, given the cost of things today):

Get out of debt; be under no one's thumb financially.
Have ways to provide for what you need - water and food. For those living in an urban setting, that's going to be difficult but not impossible. For those not in an urban setting, it gets a lot easier.
Have a store of wealth. Dollars are not a store of wealth.
Have a means to stand in front of what you own with a rifle in order to keep it safe.
Have a rifle.
Have ammo.
Have training in use of the above.
Plan for and practice an off-grid communications plan so you can reach those in your group.

This rabbit hole goes deep and it has been covered here a hundred times. It might have been nice if this timcast guy had at least scratched the surface and provided his viewers with a plan and some hope.

Thank you - I kinda thought that too - presents a problem and no potential solution(s).

 

[Neb]

It's been a long day after way too few hours of sleep last night, so take anything I say with a grain of salt. But this timcast guy bothers me. It's not that anything in particular he says is incorrect. It's that he throws a bucket of poop on the table and says "you're screwed" without providing any suggestions of how to mitigate the situation we're in. That's not helpful. All he does is generate angst. I've met many people like that and I don't speak with any of them today.

I've said for a while that I believe the "pandemic" is a cover story to excuse torpedoing economies. What most people don't know is global economies fell over the cliff's edge a while ago and we've been in freefall. The ground is rushing up at us now, and the powers that be need a means to explain the sudden collapse.

Here are some thoughts in no particular order (and I realize these may be dated, given the cost of things today):

Get out of debt; be under no one's thumb financially.
Have ways to provide for what you need - water and food. For those living in an urban setting, that's going to be difficult but not impossible. For those not in an urban setting, it gets a lot easier.
Have a store of wealth. Dollars are not a store of wealth.
Have a means to stand in front of what you own with a rifle in order to keep it safe.
Have a rifle.
Have ammo.
Have training in use of the above.
Plan for and practice an off-grid communications plan so you can reach those in your group.

This rabbit hole goes deep and it has been covered here a hundred times. It might have been nice if this timcast guy had at least scratched the surface and provided his viewers with a plan and some hope.

I agree with most all of what you wrote and would add...

1
An important factor not often mentioned is the demographics. The aging baby-boomers have or will soon leave the work force and collecting SSI. There will less people paying income tax but more people relying on the govt. This will result in

A
Higher taxes

B
Reduced SSI benefits

C
More govt debt.

D
A combination of the above.

As long as the boomers ate voting reduced SSI will not happen so the gen x, Millenials, and gen z will have to pay higher taxes. When the boomers die off SSI cuts will be on the table.

2
Learning to live a more austere lifestyle now and preparing during the 7 fat years will be wise when we hit the 7 lean years.

Ben