When the good times are rolling, the underling mobsters begin to think they are made men, untouchable and beloved by the boss. The boss does nothing to dispel this notion. But what they always fail to understand is that liberal mobsters have no loyalty. It's all about the money and when the money goes so does the good old boy fake loyalty. I think we are about to see joke biden unleash on the banksters. They think that the government has their backs but at the end of the day the banksters will realize they were nothing but useful idiots.
Today biden signed papers that extended the student loan forbearance until September. No payments will be due and no interest will be assessed during this time. But don't worry it's only temporary. Yeah, right. This is like Nixon saying that we were temporarily off the gold standard. There is no political will to hold anyone accountable for their actions right now. The left has proven that the current path to power is to lie, cheat, steal and promise endless prosperity to fools and morons who, having been disenfranchised by the fake money system, are now willing to clutch at anything to give them hope.
But socialism is a lifeline that isn't tied to anything on the other end. Well, maybe it has an anchor on the other end. But it's not tied to the dock, that's for sure. Still, we have to go through all this and watch the country completely collapse before conservatives will step up and play adult again. We are just not there yet. We need to be left with pretty much no other choice than tough love.
To date the banksters have been getting a free ride. They have been able to hand out loans left and right and get all the fees from doing so. And then they just pass the bad loans onto the fed. But the velocity of money is turning up right now. Commodity prices are rising even in a slow economy. The fed has two mandates: full employment and stable prices. The stable prices part of that is coming apart at the seams. Just today my marina in VA, which has held my monthly storage rate at $3/foot has told me the new price is $5/foot. The boat is 42' long so its only a price rise from $126/month to $210/month - still pretty darned cheap storage, at least for me at this point in my life. But the percentage rise is big - 66%! There's a reason they had to raise prices: their input costs are going up.
As long as prices were stable, the fed could debase the currency in order to prop up the economy and reduce unemployment. But now that prices are going unstable, the fed is going to begin crying for help. The mob boss will be asking its subordinates to take one for the gipper. When the students finally default on the loans, the banks are going to take a hit.
So maybe this will happen, but why do I think it can start anytime? Yeah, you guessed it. The engineer has a model. And this model of Goldman Sachs stock chart says that the recovery which began after the 2008 collapse has peaked or will do so very soon and a rapid decline could be in the cards.
Time will tell but I like my model.
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