financial collapse
Nov. 27th, 2025 01:17 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ljgeoff.Stage 1: Financial collapse. Faith in “business as usual” is lost. The future is no longer assumed resemble the past in any way that allows risk to be assessed and financial assets to be guaranteed. Financial institutions become insolvent; savings are wiped out, and access to capital is lost.
First, I don't believe these stages come in order; they're intertwined. What I want to do here is list signs of what I see as financial collapse.
- one web site suggests the phrase "chronic peasantry" and this is one I see. Also called multigenerational poverty. The inability of a person or family to pull themselves out of poverty, no matter how hard they work at it. It's been around my whole life, but it's getting worse.
- home ownership percentage has remained stagnant since 1960. "An analysis of historical homeownership rates notes that, from 1890 to 1930, the nation's homeownership rate did not significantly deviate from a baseline rate of 46.5 percent...homeownership rate increased nearly 20 percentage points between 1940 and 1960, from 43.6 to 61.9 percent. Following record-high homeownership rates before the 2008 housing and financial crisis, homeownership rates have remained relatively static at the current rate of 65 percent."
I'm not sure how I feel about home ownership. The main thing for me is that I see home ownership as a way to pull the family out of that chronic peasantry. I'm currently the sole owner of our house in Negaunee, Michigan and Mike and I own the house in Lansing. If not for my nursing income, we would not have been able to pay off these houses. And if not for Mike's willingness to support me in word, deed, and heart, I would not have been able to get my nursing degree while working full time. And, honestly, it has been a huge sacrifice for me to work as I am, but I'm very goal driven.
For us, home ownership has been a very big deal. But home ownership isn't for everyone, and historically, it's been more of a multi-generational family thing. Most people today see homes as an investment to be turned into cash as needed. Right now, that is changing, as the home sales market softens.
-- I think that when Trump dies, our economy will convulse.
Right now, we're seeing signs of a major recession as "job openings have declined, hiring rates have cooled as companies have slowed their pace of recruiting, and we're now beginning to see an increase in layoffs from historically low levels." (Business Insider, Neil Dutta Nov 23, 2025, 4:36 AM ET)
The disruption of the fall of this authoritarian cult of personality regime will likely tip us not only into recession but depression.
-- of course, as that is happening, climate change will be really ramping up, with the loss of summer Arctic ice happening sometime in the next 10 years or so. Honestly, once we loose the ice, all bets are off. It's pretty horrifying to think long on a doubling of natural disasters during an economic depression. I do believe that is what will happen.
First, I don't believe these stages come in order; they're intertwined. What I want to do here is list signs of what I see as financial collapse.
- one web site suggests the phrase "chronic peasantry" and this is one I see. Also called multigenerational poverty. The inability of a person or family to pull themselves out of poverty, no matter how hard they work at it. It's been around my whole life, but it's getting worse.
- home ownership percentage has remained stagnant since 1960. "An analysis of historical homeownership rates notes that, from 1890 to 1930, the nation's homeownership rate did not significantly deviate from a baseline rate of 46.5 percent...homeownership rate increased nearly 20 percentage points between 1940 and 1960, from 43.6 to 61.9 percent. Following record-high homeownership rates before the 2008 housing and financial crisis, homeownership rates have remained relatively static at the current rate of 65 percent."
I'm not sure how I feel about home ownership. The main thing for me is that I see home ownership as a way to pull the family out of that chronic peasantry. I'm currently the sole owner of our house in Negaunee, Michigan and Mike and I own the house in Lansing. If not for my nursing income, we would not have been able to pay off these houses. And if not for Mike's willingness to support me in word, deed, and heart, I would not have been able to get my nursing degree while working full time. And, honestly, it has been a huge sacrifice for me to work as I am, but I'm very goal driven.
For us, home ownership has been a very big deal. But home ownership isn't for everyone, and historically, it's been more of a multi-generational family thing. Most people today see homes as an investment to be turned into cash as needed. Right now, that is changing, as the home sales market softens.
-- I think that when Trump dies, our economy will convulse.
Right now, we're seeing signs of a major recession as "job openings have declined, hiring rates have cooled as companies have slowed their pace of recruiting, and we're now beginning to see an increase in layoffs from historically low levels." (Business Insider, Neil Dutta Nov 23, 2025, 4:36 AM ET)
The disruption of the fall of this authoritarian cult of personality regime will likely tip us not only into recession but depression.
-- of course, as that is happening, climate change will be really ramping up, with the loss of summer Arctic ice happening sometime in the next 10 years or so. Honestly, once we loose the ice, all bets are off. It's pretty horrifying to think long on a doubling of natural disasters during an economic depression. I do believe that is what will happen.