I recently posted an article addressing the housing and rental markets, and the fact that many middle class families cannot afford to buy or rent a home due to high costs, sky rocketing rents, and lack of availability. As I pointed out in my article, this was all a result of the 2008 stock market crash, the subprime loan market, and increased rates by the Fed. It resulted in at least 45 million Americans losing their homes. Those homes went into foreclosure by the banks, and ravenous buy ups by investors (many from China), causing a very tight market for both buyers and renters .
I have been predicting for a while that interest rates would again rise, further stressing the real estate and automobile markets. Today’s headline in The Sacramento Bee confirms my predictions. In fact, I was told by a representative of the Golden 1 Credit Union about a year ago, that the banks were still making subprime-mortgage loans, and subprime-car loans, and that a crash was on the horizon. This crash will be many times greater than 2008.
The increase in interest rates will be an across the board increase affecting credit card rates as well, at a time when consumer debt surges. This could potentially push a struggling family over the edge.
“A hundred dollars can make a difference,” she said. “Sometimes they’re right on the line anyway.”
This is just one more attack by the Federal Reserve to destroy what is left of Middle Class America. Incrementally, we are being reduced to Third World status, by the royal bloodline banking cartel.