Shadow of Truth – Our Deteriorating Economy Ep 6
by Shadow of Truth, The Daily Coin As we progress through the week the economic noise is subsiding. The damage was done earlier in the week and the Federal Reserve has spent most of its time attempting to spread the word about raising interest rates. The Federal Reserve can NEVER raise interest rates, as the moment they do the dollar will sell off and implode. Game over. So, whenever you hear Janet Yellen discussing raising interest rates this is merely an attempt to keep the ponzi going and the dollar propped up. Speaking of Federal Reserve chairs, Alan Greenspan is out making another attempt at saving his legacy. I believe he is another agent sent out in to the markets, the same as Jim Rickards, to tell the people their is a collapse in the making. The elite believe it to be in poor taste to not tell the serfs what is going to happen. They need agents in order to get their message out and I believe these two men serve that purpose. Earlier this week Greenspan was on CNBC spewing about the economy and how it is falling off a cliff.
The fact that the market is anticipating that the Federal Reserve will raise interest rates, yet the yields on the 10- and 30-year Treasurys are falling is an indication of how weak the overall global economy is, former Fed Chairman Alan Greenspan told CNBC on Thursday. In fact, effective demand is extraordinarily weak, he said. “The way I measure it, it’s probably tantamount to what we saw in the later stages of the Great Depression,” Greenspan said in an interview with “Closing Bell.” That said, he acknowledged “it’s not anywhere near what the problems were back then but we haven’t seen anything like that since then.”
Remember, Greenspan just a few months ago was talking about gold and silver being, not just money but a currency as well.
“…intrinsic currencies like gold and silver are acceptable without a third party guarantee” Gold serves a very important place in monetary reserves… [source]
It sure sounds like Greenspan has an agenda. Not exactly sure what his agenda is, but something is going on. Otherwise, why would he make these types of statements? The housing market continues to slide off a cliff. The big, cash investors, fueled by the free money from the Federal Reserve, has all dried up and the first time home buyers have disappeared from the scene. With most Americans working in retail jobs, for $10 an hour or less, how can anyone afford to purchase a house? This week the NAR (National Association of Relators) released their monthly analysis. It appears new housing starts were flat for the December to January month, but the sell of existing homes fell by 32%. That is not a typo, 32% drop in monthly sales. Of course the new NAR President, David Blitzer, was making a half hearted attempt at spinning the information. Did I mention Mr. Blitzer is a former executive for Blackstone? Blackstone was one of the largest recipients of the free flowing cash to purchase homes during the past three years; which just happen to create the “housing recovery”. Good job, Blitzer! Mr. Blitzer said the “housing recovery was faltering”. Well, he should know, since his former employer is no longer buying all the houses a block at a time.
The Blackstone Group, a worldwide private equity firm, has spent an estimated $8 billion since 2012 buying up roughly 44,000 homes at rock-bottom prices nationwide, according to DePaul’s Institute for Housing Studies, which collects and researches housing data. The homes are marketed under the name Invitation Homes.[source]
The worst aspect of the housing market continuing to fall of a cliff is, that it touches so much of our economy. For a number of years it was the driving force behind our economy, now it, like so much of America, needs some attention and sadly, no one is paying attention.