is coming, of many magnitudes bigger in losses than the few trillion
dollars size subprime problem of packaging mortgages as if are
securities for sale, often without recording who the real mortgage
holders are. All leading to defaults on mortgages and walking away
from mortgages when the economy and financial system imploded
and collapsed. As well as the lehman and other brokerages, financial
collapse from that and otc derivatives casino collapse.
And banking system collapse, intertwined with them all. Led to all
these problems by the safe guards that were lost in repealing the
1932 glass-steagall act in 1999. Still not admitted to or simply re-
instated.
The video article gradually builds up to the gigantic implication which
is at hand in the failure of the malls, office space and down town
commercial high rises, losing business and going bust. As another
casuality of the west's industry competing with the emerging nations
much lower stardards of livings and resulting lower costs, prices,
wages, gov't budgets, regulations and social spending because of that.
Listen to and weep at the 34 minute video explanations of the next,
not only US crash but world crash in the making. It will be great for
gold safe haven but at the expense of a financial and economic
apocalypse collapse and world, which will not be great to live in at all.
Or to display your gold winnings in it at all.
From
'Is Retail or CRE (Commercial Real Estate) collapse The Next Financial
Implosion? - with Charles Hugh Smith'
https://www.youtube.com/watch?v=kuZ1wUizx14&feature=youtu.be Some highlights:
the new subprime problem is magnitudes size bigger than 2007/08 with collapse of malls, officebuildings, office space, and investments, tax revenues and pension funds that depend on them - 19 mimute point and fed is scared over CRE collapse and banks loans collapsing - 22 min point and what central banks will do, ie try to buy up the collateral but is just too much - 25 minute point the spin off problems of loss of revenue and tax base is endless - 32 min point, a subprime problem many times over - 33 min point, there are opportunities here but doesn't talk about them - probably in what to do with the vacant malls, for those who have the money to capitalize on it