Comments by "BrickTop" (@bricktop7803) on "Goldman Sachs FLIPS on Housing Market, Updating Home Price, Mortgage Rate Forecast" video.
-
As I said in the last Morgan Stanley 2 episodes ago, the 4 big US banks are beginning to fold.
The only reason there is NOT a depression level crash is the FED, Grandma Yellen and main banks being bullish and confident there is no recession.
That only works for a while - papering over the cracks, but a seismic economic shift is taking place in this quarter.
The Western Developed Economies are teetering on recession\depression. The trigger that pushed the economies out of whack is the Israeli\Palestine war going on right now.
What WILL happen over the next few weeks is the total economic war against the US because of its proxy war with Palestine. Expect, very very soon for OPEC+ backed by Russia to drastically cut oil production, not by a few million barrels but hundreds of millions of barrels.
Winter is coming in many guises and the West will suffer.
What will mass unemployment do to the US economy if no Middle East oil arrives for 2 months?
They are Gulf states are serious this time, like NEVER before, and it is because of Israeli genocide. IT will be ten times worse than the oil shock in the early 70's.
Only today, the US has ZERO strategic reserves to pull them through. The Covid turmoil and the Ukraine invasion depleted the reserves.
Not many will remember the queues at gas stations, anarchy, and the paralysation of US industry.
3
-
1