This dates me a little and understand times have changed. That said, in the 70s/80s, interest rates were at this level and sometimes more. It was nothing to purchase a home at that time with 6-7%+ interest rates. While it’s likely banks will see many defaults/foreclosures, I’d be surprised if in many instances they didn’t find a way to collect their fees and roll the debt. Interesting that JP says there might not be a recession. Thanks Lena.
Hi Paul! Agreed, it is really surprising to hear predictions about "soft landing" considering what's going on in commercial real estate and other areas. We'll see what the next 12-14 months have in store for us!
Hi Lena , as i mentioned about a month ago that India and Brazil was hesitant about allowing new
members jointing the BRICS , ( All five members have to agree ) Modi visit to the USA a couple a weeks ago and visits to China , Brazil and south Africa by USA representee's and deal making . The big news in my opinion is the BRICS will not be
issuing any BRICS currency at this time (08/22/2023 ) or having any countries joining, that are pro-China ,also the reason that
India is trading with UAE for oil is because Russia does not want trade oil with India using the Rupees
Currency and wants the China Yuan , also India is part of the QUDA ( USA ,Canada ,Australia , India ,
which was formed to counter China Military and opposes ,China's One Belt One Road project.
There is a Military alignment taking place right now ,India ,Turkey are joining the West and North Korea , Belarus's Joining the East .
What about Russia pivoting to the poorer African countries by providing free grain for other considerations.. the BRICS meeting has a mood of harmonizing disparate beliefs and political ideologies to counter a common bully system.
Nice summary of important economic data. Thank you.
Greg, thank you!!
This dates me a little and understand times have changed. That said, in the 70s/80s, interest rates were at this level and sometimes more. It was nothing to purchase a home at that time with 6-7%+ interest rates. While it’s likely banks will see many defaults/foreclosures, I’d be surprised if in many instances they didn’t find a way to collect their fees and roll the debt. Interesting that JP says there might not be a recession. Thanks Lena.
Hi Paul! Agreed, it is really surprising to hear predictions about "soft landing" considering what's going on in commercial real estate and other areas. We'll see what the next 12-14 months have in store for us!
Excellent presentation of the facts. I really appreciate the no nonsense approach. Thank you, Lena.
Thank you for reading, Dean!
Freedomthomas ,July 31,2023
Hi Lena , as i mentioned about a month ago that India and Brazil was hesitant about allowing new
members jointing the BRICS , ( All five members have to agree ) Modi visit to the USA a couple a weeks ago and visits to China , Brazil and south Africa by USA representee's and deal making . The big news in my opinion is the BRICS will not be
issuing any BRICS currency at this time (08/22/2023 ) or having any countries joining, that are pro-China ,also the reason that
India is trading with UAE for oil is because Russia does not want trade oil with India using the Rupees
Currency and wants the China Yuan , also India is part of the QUDA ( USA ,Canada ,Australia , India ,
which was formed to counter China Military and opposes ,China's One Belt One Road project.
There is a Military alignment taking place right now ,India ,Turkey are joining the West and North Korea , Belarus's Joining the East .
Ther is so much more , Interesting times.
Thomas
What about Russia pivoting to the poorer African countries by providing free grain for other considerations.. the BRICS meeting has a mood of harmonizing disparate beliefs and political ideologies to counter a common bully system.
Do you have any links to comparable Australian stats