I Cannot Afford This Mortgage!

The bandits in charge of this country are leaning toward a destructionist bent, ready to go for the kill of all we know and love. [Gilder's Daily Prophecy] August 17, 2022 [WEBSITE]( | [UNSUBSCRIBE]( James Answers Reader Question… “Where Are You Putting Your Money Now?” Hi, James Altucher here… [Click here to learn more]( And I get asked questions all the time from my readers. Some ask me about investing. Others ask me about building a business. Still others ask me about my books. Well, I recently received a question that I wanted to personally take the time out of my day and answer… because it could impact a lot of my readers, including you. I was asked where I’m putting my money now… given that stocks, cryptos, and everything else are all crashing. It’s a good question, which is why I sat down on camera and recorded a brief video. And I want to share it with you today. [Click here now to watch.]( I Cannot Afford This Mortgage! [Jeffery Tucker] JEFFREY TUCKER Dear Reader, That was one heck of a switcheroo! This time last year, people were selling their homes at 20% more than the list price. They had lines of people outside the door with cash. It was a seller’s market for sure. But buyers got involved too, believing that housing was the best possible investment. It would never go down. Remember that line? Right. In retrospect, it was all just inflation. The Fed raised rates supposedly to control inflation. As a result, demand is down while prices are still high. Now people are stuck with very expensive houses at high-interest rates. [chart] This is how inflation goes. It moves from thing to thing, following the fashion of the moment. We have $6.3 trillion in freshly printed bills that are shopping for a home. It happens gradually and affects things in different ways. Watching real-time data on inflation overall, it seems like not a peak but a trough. It is starting to tick up again. Don’t tell me you are surprised. You knew that the respite would not last. The New Thing What’s it affecting? Not oil. Not gas. Not transportation. Right now, it is water and electricity, which is to say your utility bills. They are currently rising at 13.5% annualized. Watch those over the coming months. It’s going to get very painful. We can fully expect water rationing to start in hotspots around the country. And heating this winter is going to be dreadful. What about heating all those plywood palaces people bought at 5-6% interest? There will be whole sections of the house that will be shut down. The family will be huddled together as if it were a one-bedroom apartment. People somehow always forget this when they acquire a 5,000-square-foot-place. They can only be in one spot at a time! The rest needs to be heated and cooled. That will soon become very difficult. And yard service? Through the roof. And you can forget about getting maid service. The immigrants are gone and the natives don’t want to work. Based on the wild trends over the last year, we can fully expect housing to become extremely unfashionable in the coming year. Already, the billionaires are preferring land to houses and buying up large swaths in Texas, Wyoming, Montana, and Maine. If it is land, useless land, it is for sale at a high price today. Houses? Not so much. People who are selling today are probably doing so at today’s high of a collapsing industry. It will be 2008 all over again in terms of demand but inflation will ensure that it won’t show up in prices. Not a bad time to get out. The U.S. is Turning RED! This map shows [a disturbing global trend]( you NEED to know about… [Click here to learn more]( [CLICK HERE To See When the U.S. Will Turn Red]( As you can see… Right now the U.S. is still “yellow”… But thanks to a sinister move Biden just made… The U.S. could soon “turn RED”! And if that happens… Every dollar you own could be made worthless – or even confiscated. [Click here NOW to learn how to protect yourself before the U.S. turns red](. The Financials Humankind has gravitated toward measuring prices by producer and consumer goods according to a mythical index which is weighted by certain classifications of goods. Eggs, cars, houses, gas, education, health care — all those things are on the list. What’s not on the list is stocks. Why is this? It’s because stocks are classified as investments, not consumption. Why? Because that’s how we do it. Actually, it makes no real sense. People are buying stocks as consumption goods in hopes that they will go up in price. Why should they go up? Because of fundamentals? Nope. They go up because other people are buying them. That’s all. Inflation can affect stocks the same way that it affects every other sector. It’s just invisible to us because we don’t count it that way. That makes it no less real. Newly printed money is a virus that must become endemic. Remember this when you hear about the end of the bear market and the beginning of a new bull market. It’s very likely fake. And it will come to an end. When? My guess is that the upswing will last until the election and then two more months. It’s just my guess. Then another round of bear market pressure will hit, and, along with it, another scramble for the next new thing. As for crypto, please learn the lessons from last year. I’m in the camp that this is a real technology with a brilliant future. In this, David Stockman and I disagree. That said, he is exactly right that crypto prices have closely followed financial prices in general. This is because so many institutions are involved. Hence the new excitement that crypto can recover again. And it will. But be on guard. The instant that financials lose their luster, cryptos too will be hit. It’s not a sector for the faint of heart but hardly anything is safe these days. Maybe land in Wyoming but we shall see. The Tax Collectors Meanwhile, the government is plotting an outright pillaging of the public. If you think this is impossible because we are not those kinds of people, just remember that a sector of the ruling class is insane. They closed churches on Easter for two years! Let that sink in. There is nothing they won’t do. And armed tax collectors roaming the country — having left their jobs as contract tracers for Covid — are planned in the near future. It’s no wonder there are so many stories in high-end wealth magazines on how to get out of the country now. Mexico is so sick of the immigration among the Haut bourgeois of American society that they too are welcoming the building of a wall. The bandits in charge of this country are leaning toward a destructionist bent, ready to go for the kill of all we know and love. They have no conscience remaining. There is nothing they won’t do to get their way. This country longs for normalcy. We won’t get it anytime soon. The regime in charge has no clue what the way out is, and they aren’t really seeking that anyway. Instead, their passionate hatred of Trump is driving everything. That in turn is motivated by a fear of what got him elected in the first place: the promise to drain the swamp. Two weeks before he left office, he issued a plan for outright firing a million bureaucrats from Washington. It was a brilliant plan. Preventing that from happening is the driving force of American politics today. What a classic sign of the end of empire! Or maybe the end of civilization. Regards, [Jeffrey Tucker] Jeffrey Tucker Man Who Predicted Bitcoin Warns: “Don’t Buy Bitcoin!” [Click here to learn more]( James Altucher first predicted Bitcoin all the way back in 2013… And ever since, he’s been one of the biggest advocates for it. But now, he’s warning Americans that buying Bitcoin could be a big mistake… [Click here now to see why](. 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