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"Mass Layoffs Are BOOMING! A New Housing
Market Crash Is Starting To Pick Up Speed As Well"
by Financial Argument
"A new housing market crash is occurring as massive corporate layoffs have hit record levels in recent months. It was already clear that the US retail industry was in a recession for a long time. Walmart’s layoffs and announcement that it has cut its annual profit targets actually confirm this. Apart from that, a lot of data confirms that American citizens are now spending less. Americans, three-quarters of whom live paycheck to paycheck, have little to do in the face of rising inflation and economic decline.
The layoff waves began with tech layoffs and are now about to become a tsunami that will afflict millions of Americans, spreading across nearly all industries. My experience with the causes of financial crises tells me that the basic start of foreclosures that lead to housing market crashes is when people lose their income, and we are in this scary process right now.
Moreover, these are white-collar workers and their salaries are higher. These are the people who buy stock and buy houses. But many of them are people who will soon be unable to pay their bills. And there are many more things that will trigger the housing market crash. This bubble in size has never been seen before in the history of the world, is about to burst and it will be very painful."
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Related:
“Tsunami Of Shutoffs:
20 Million US Homes Are Behind On Power Bills"
Excerpt: "At least 20 million households -- or about 1 in 6 American homes -- are behind on their power bills as soaring electricity prices spark what is said to be the worst-ever crisis in late utility payments, according to Bloomberg, citing data from the National Energy Assistance Directors Association (Neada)."
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