Ep. 45 Special Edition: How And Why The Economy Is On The Brink In Just Three Months

These are dark times but I will continue to tell the stories you need to hear in a clear (and usually profane) voice. If I entertain/anger/inform you, preferably all three, please consider becoming a supporting subscriber today for only $5 a month or just $50 a year.OK! I’m on vacation this week so instead of a regular episode recorded on Thursday with Shannon covering current events and what they mean, I did something a little different. This week, I attempt to explain how Trump took the strongest economy in the world and brought us to the brink of the worst financial collapse in a century in just three months. Yeah, the tariffs are a big part of it but that’s not the whole story and we need to understand the 2008-2009 collapse to understand where we are now and just how bad it’s going to get.I hope this episode lets you see what’s happening and why. A lot of people were caught unprepared by the Great Recession and if I can give you even a month of warning, that could make a world of difference in a lot of people’s lives.Things I Discussed In The Episode:How the banks started selling Mortgage Backed Securities (MBS)How the banks pumped out crappy mortgages to fill their MBSsHow mortgage defaults collapsed everythingThey Crashed the Economy in 2008. Now They’re Back and Bigger Than Ever.10-year Treasury yield tops 4.5% after surge this week that’s worrying Wall Street and the White House104% China Tariffs Came into Effect at Midnight. We Instantly Entered this Crisis’s “Lehman Brothers” Moment This is the really wonky article. It’s important but difficult to follow for normal people. It made my head hurt. Get full access to The Opinionated Ogre at opinionatedogre.substack.com/subscribe