Will The U.S. Hit The Wall In 2017?

silver crashThe parabolic move in the stock market, housing prices and the U.S. dollar, while touted by the media and Wall Street as evidence that “all is well and getting better,” is perhaps the most visible signals that the U.S. financial and economic system is “melting up” before it collapses.
James Kunstler has written an epic year-end essay that is a must-read.  He discusses why 2017 may be the year of reckoning for the U.S. – here’s an appetizer:


From PM Fund Manager Dave Kranzler:

Yes, I know the truth-seeking community has been playing “Chicken Little” since the internet stock bubble days, and admittedly the powers that be have been able to extend and pretend for a lot longer than I would have bet on 15 years ago.

James Kunstler has written an epic year-end essay that is a must-read.  He discusses why 2017 may be the year of reckoning for the U.S. – here’s an appetizer:

SilverMapleSDBullionWhen mortgage rates go up, house prices go down, because fewer people are in a position to buy a house at higher mortgage rates, and rents go up (more competition among people who can’t buy a house). Zero Interest Rate Policy (ZIRP), in force for ten years, has driven house prices back to stratospheric levels. They are now primed to fall, perhaps severely, leaving many homeowners “underwater,” with houses worth way less on the market than the amount of mortgage left to pay off.

You can read his entire piece here:   Forecast 2017:  The Wheels  Finally Come Off

In addition, take seven minutes and watch this video put together by Crush The Street (I’ll be a podcast guess this week and next week).  It’s an engaging seven minute encapsulation of the fate that awaits the U.S.: