With the stock market hitting all-time highs, here is a look at Americans under water.
Americans Under Water
November 13 (King World News) – Gerald Celente: “While the Federal Reserve pumps in trillions of cheap money to keep the White Shoe Boys on the Street gambling, it’s a different game for the average American.
Americans are working longer hours, and with “real” wages trending between low and flat the debt burden gets heavier.
Adding to the debt load is transference of debt from previous car loans onto new car loans. This is negative equity: when car owners owe more than what the car is worth – similar to the housing bubble of ‘08 before it burst…
KWN receives so many emails from its global readers and listeners about which high-quality mining companies they should invest in, and as a result we have added another remarkable company to the list. This is one of the greatest gold opportunities in U.S. history and you can take a look at this remarkable company and listen to the just-released fantastic interview with the man who runs it by CLICKING HERE OR BELOW
In the first three quarters of 2019, 33 percent of people trading in cars to buy new ones had negative equity, about $5,000 on average – up from $4,000, or 28 percent, five years ago.
When car owners start off with negative equity, their loans tend to have higher monthly payments and interest rates.
In fact, car dealerships make more money from loan financing and extended warranties than they earn on actual vehicles sales.
With student debt and skyrocketing housing prices, and with homelessness increasing, first-time home buyers’ median age is 33, the oldest in records since 1981.
The median age of all homebuyers hit 47, from a median of 31 in 1981.
Those who could find an affordable house in 2018 had a typical income of $93,200. The median household income in the U.S. is around $63,000.
America’s top 1 percent now holds almost as much wealth as its middle class. According to the Federal Reserve, the top 1 percent of U.S. households has been enriched by huge returns in the stock market over the past decade.
With $35.4 trillion in assets, the 1 percent is just shy of the $36.9 trillion held by the 50th to 90th percentile of Americans. The bottom 50 percent of households have 35.7 percent of liabilities and just 6.1 percent of assets.
Income inequality will remain not only a major issue in the 2020 Presidential Reality Show, as we have noted, but it is currently, and will continue to be, a major cause of revolts and revolutions sweeping the globe.
Also of importance…
Eric King: “John, your company has recently gone on sale, but you are financed and your fundamentals are better than they have ever been. What are the biggest catalysts coming out of tax loss season that will give your share price a major reversal going into the first quarter of next year?”
John Awde: “Eric, we are rapidly advancing our project through development, and most importantly, we are finding brand new feeder systems. We announced our PFS (Pre-Feasibility Study) in September that we were very pleased with and there are a number of ways for us to optimize the project in terms of the economics, lower the capital required, and extend the mine life.
We have also completed a couple of our deep holes underneath Dark Star. We now believe there is some kind of feeder zone or deep sulphide underneath Dark Star. This could be a game-changer for the company. We are also moving towards completing the feasibility study. It should only take 6 or 7 months to convert all of the ounces from inferred to measured and indicated ounces.
And lastly, Eric, we are going to be filing our EIS, which will start the clock on permitting. Our entire team believes we are ripe for another discovery and that would really put Gold Standard Ventures into an entirely different category.” Gold Standard Ventures, symbol GSV in the US and Canada.
***KWN has released the powerful audio interview with Alasdair Macleod and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
Fed’s Powell, Plus Household Debt
READ THIS NEXT! Bottom Line From Fed Chairman Jay Powell, Plus A Look At Household Debt CLICK HERE TO READ.
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