Wells Fargo In CRISIS! – Is A Crash Imminent?

Josh Sigurdson talks with author and economic analyst John Sneisen about the latest troubles for Wells Fargo as the bank sees the lowest mortgage number since the last financial crisis!
In last year’s Q4, mortgage applications plunged by 10 billion dollars which is 16% down year over year to around 63 billion dollars.
The mortgage origination pipeline dropped to 24 billion dollars which was just shy of the post financial crisis lows in late 2013.
Well, now in Q1 of 2018, Wells is seeing the biggest lows since the last financial crisis. The mortgage application pipeline did not rebound and sits at 24 billion dollars still.
Even worse is the mortgage applications themselves which are seen as an indicator for the housing market which has been heavily affected by rising interest rates, now falling to 58 billion dollars in Q1. That’s down 2% year over year. The worst since the financial crisis.
We have yet to see any bullish indicators but Warren Buffett’s favorite bank is not looking good down the line. Wells has been caught up in scandal and fraud for quite some time. Not to mention the return of collateralized debt obligations which we saw right before the crash of 2007 and 2008. We are seeing all the tell-tale signs that this crazy derivatives market is going to implode and for that reason individuals must prepare themselves for the worst.
Self sustainability and financial responsibility is key and that comes from education which far too many shy away from as it’s deemed “boring” to most. But it couldn’t be more important. If you don’t control your money, your money will control you and you will end up in debt servitude, right where the banks and government want you.

Of course as we always mention, the fundamentals are off the table due to the level of manipulation in the markets as well as in the monetary system, so we cannot put a date on the coming crash, but it is indeed inevitable. One cannot avoid the inevitable. The vast manipulation and centralization will always end in long term bearish markets following short term artificial bull markets.

Stay tuned as we continue to cover this issue closely!

Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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World Alternative Media
2018

“Find the truth, be the change!”

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30 Comments

  • World Alternative Media
    Reply

    Video immediately demonetized as “hate speech”.

    HOW YOU CAN HELP KEEP WAM ALIVE!

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  • john1999
    Reply

    John mentioned that some bankers were hanged in the past, I am sure they were, but I find this example better.
    https://en.wikipedia.org/wiki/History_of_the_English_penny_(1066%E2%80%931154)

    During the relatively long reign of King Henry I (1100–1135) the Silver penny remained the chief denomination … quality of the coins in the early part of the reign was poor, as the moneyers (bankers) made a large profit by producing underweight coins or debasing them.

    1124 Henry called all 150 moneyers to Winchester (capital of England at the time) and called them to account for their activities — 94 of them were convicted of issuing sub-standard coins and were mutilated, their right hands and one testicle being cut off, as a result of which the quality of coins improved for most of the remainder of his reign.

    Good old days.

  • Symbolic Living
    Reply

    Maybe people are holding onto their homes longer instead of selling to profit? If so, is that a good thing for consumers but bad for the banks?

  • travis lemay
    Reply

    I pulled my account Saturday. Got $1600 in cash and it took the manager about 20 minutes to get it for me because out of 5 + desks they couldnt scrape together 20$ Bill’s and didn’t have enough to cover it.

  • Susan Babudro
    Reply

    LOL! You guys have out done yourselves this time! Good to see you have some fun amid the gruesome truth. Keep it comin’.

  • Daniel OBrein
    Reply

    there are 57000 empty homes in the san diego area alone—-if it is that bad where they checked it —how bad is it with the rest of the country

  • mikebtko
    Reply

    Money isn’t real…
    Give a tribe control of your finance, they can pay themselves whatever it takes to rule over the other tribes.
    Jerry Seinfeld made 4 million💰for 20 minutes per episode of Seinfeld at height of show. Nobody’s that funny. Get a real comic alone and he’ll let you know comedy loses its 2 main ingredients when paid for it, ‘Spontaneity&Truth’, it becomes preachy and agenda-driven. Now Jerry Seinfeld goes to IDF FANTASY CAMP and pretends to 🔫 shoot Syrian children in the face.  Media is a Chabad mob platform. Give a tribe control of your finance, they can pay themselves whatever it takes to rule over the other tribes.
    Jerry Seinfeld made 4 million💰for 20 minutes per episode of Seinfeld at height of show. Nobody’s that funny. Get a real comic alone and he’ll let you know comedy loses its 2 main ingredients when paid for it, ‘Spontaneity&Truth’, it becomes preachy and agenda-driven. Now Jerry Seinfeld goes to IDF FANTASY CAMP and pretends to 🔫 shoot Syrian children in the face.  Media is a Chabad mob platform.

    You can’t fix a spiritual problem with a political solution. I am 54 years old, I can assure you, you can’t do it. I’m from a really beautiful state, that nobody wants to live in anymore, California. Its soul was stripped from it decades ago. Greed, lust, celebrity, vice, drugs, gambling, high cost of living, and poor planning of a city. It was no place to raise a family. It was an existence of ‘stay young & die pretty money’. A very superficial existence, taking care of very superficial people.  Who in the end, just took over our cities and beaches and traded us in for new slaves  Our ‘authentic’ jobs were sent abroad long ago, and we became strictly “vice”.

    How long do you think China/Taiwan/Asians are going to keep supplying us with cheap goods made by slave labor? All slaves eventually escape their captors. This is going to come to an end, and rightfully so. I don’t think any of us can stomach hearing each other talking about social injustices, while this continues. We are the currency, not these criminal, paper notes….

    So now California is scrambling to upgrade its transportation/infrastructure needs. Because most everybody that is still living there, has to stay there. Just to pay for the expensive lies/debt that they bought into. And most of them are so miserable because of it. Many are just walking away from all the lies/debt that they incurred…

    People have been fleeing California for decades. Its just more trouble than its worth. I live in Puerto Rico now, its the same formula…

  • end of days are you ready
    Reply

    Lol, I thought it was funny, it’s nice to have some fun even though we are dealing with such sinister things about to happen.

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