Michael Burry is back on Twitter after he received a visit by the SEC and he shut down his Twitter account. So far there is only one Tweet and there are clues as to what he is thinking with his new profile and the hashtags listed. Burry believes that the bubble of all bubbles is about to burst and this is caused by everything from Covid lockdowns, out of control money printing, and massive inflation. The housing market is back to 2008 levels with over priced mortgages being bought up by private corporations and foreign interest. Burry continues to sound the alarm knowing that he is being watched. The man who earned over 100 million from the 2008 housing bubble is now betting against Tesla and other companies that are viewed as safe. If I had to place my trust between Burry and the federal government I would side with Burry. One prints money to prove they are right, while the other puts their money where their beliefs are. It should be obvious to everyone at this point that the system is going to start crashing down, it already is, and just like 2008 we are in the phase where the crew of the titanic are telling us everything is fine and please stay away from the lifeboats, as their friends and family load up to row off into the ocean.
I thought I was the only one that noticed. For the longest time I wondered if I was the only one that cared. Things have changed in the last couple of weeks. With GE being at the forefront of becoming the next Enron, I can’t help but notice that things are starting to fall apart all around us. Locally there are signs of something coming our way. A local brewery, restaurant, and Sears have closed their doors. Not to mention that our local hospital is on a hiring freeze. Across the country farmers are depending on federal aid to keep their farms due to tariffs and a crappy planting season.
Last week it was announced the five largest economies in the world were facing a recession or about to go into one. Trump’s denial of this gives me a feeling of Déjà vu as I watch another republican president say one thing while discussing what to do in the back room of the White House. I try to spread the word, telling people not to spend their money, invest in something tangible, stop buying that $7 coffee in case you don’t have a job a few months from now. It would appear I don’t have to say anything.
Last week a board meeting at work almost came to blows as tensions rose and voices yelled in a small room about numbers and budgets. Last I knew things were going well and we had a surplus of cash. It would appear that some people see what is coming down the tracks and know that we can’t keep running things the way it has been for the past decade.
In my own life I started making cuts, cooking more food at home, buying silver with spare cash after my bills are paid, and putting my house in order. Last year my father in law died. It has been a lot of work but there was a house of items to go through and while a lot of it went into the trash due to mold, the rest saved us some money by not having to buy new things we might need in the future. I started to eat out less, only drink beer that is already paid for from a deal I made with a local brewery owner to clean his place in exchange for beer, and I drive less. I would say that my belt buckle with tighten but let’s face it, in this country the poor become fatter.
There are three bubbles that will likely pop during this time and any of them could send the country into a total shitshow. There is the housing bubble, something that was fixed until laws were overturned and the prices on houses skyrocketed again. The student loan debt is an obvious problem, if we head into a recession most students will stop paying on their loans in order to keep a roof over their heads. Then there is the new car loan bubble, horrible POS models sold to naïve customers with 7-year loans for cars that might last them a year or two. The economy, if compared to ten years ago, is officially FUBAR.
It pisses me off that the talking heads on certain news channels keep telling their viewers that all is fine and the experts don’t know what they are talking about. Meanwhile these people plugging their opinion are nothing more than experts in talking, vomiting out whatever their dark overlords tell them to. It’s rather pathetic.
If you haven’t been saving money, start now. Make sure you are a valuable part of your department at work. Keep your car running. Fill your pantry. Buy durable clothes. Protect your money. Protect yourself. Ignore the talking heads on television and look at the world around you. The writing is on the walls and only those that choose to be blind cant see it.