Josh Sigurdson talks with author and economic analyst John Sneisen about the continued crash of the auto industry and GM plans 4,000 layoffs this week. This will affect several factories in North America.
Now, we aren’t here to blame Trump because this was going to happen one way or another, but the jobs numbers are false. They are hidden within the labor force participation rate numbers. The fact is, the markets have reached their peak debt levels and they cannot sustain themselves anymore. We can thank vast centralization.
We can also blame dependence on these crazy auto loans. The auto backed securities for example are a major part of this puzzle much like the collateralized debt obligations are a big part of the housing bubble.
We warned of this pending problem years ago and it’s not surprising to see this start to take place in 2019 as people start to acknowledge that the markets are based on investor confidence and not necessarily fundamental value. History doesn’t repeat but it sure does rhyme.
John explains why this is happening and what we can expect as many factories close their doors due to vast bank and government interference as well as the financialization of the markets.

Stay tuned for more from WAM!

Don’t forget to check out Mike Maloney’s GoldSilver at the following link:

Video edited by Josh Sigurdson

Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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  • Inez S

    Why do we still wonder why MSM is not talking about the critical issues when their sole purpose is to peddle propaganda in the interest of the State. MSM no longer engage in journalism to inform and educate. Conversations or debates like that would mean greater difficulty by the rulers to control the subjects. Not that we need exploration of diverse ideas to solve today’s challenging issues.

  • Investment Drone

    There are a lot of large layoffs that you will never hear about in the media. For example Yahoo+AOL which is called Oath, last year laid off all its contractors without any exception; this company has probably at least as many contractors as it has employees. So, we are talking about thousands of contractors being terminated. Yet, I never saw one single news article, and you still can’t find any, on this layoff. God knows how many layoffs are happening and no one hears about them.

  • Minuteman 801

    I work for GM and I am currently making what my father did when he retired in 1993. In 2008 a Silverado cost $18,000 we made 5 time minimum wages now it has almost caught with us. Our supervisors make $200,000 or better.

  • CapTintin Smith

    Well, I played the “credit game” twice and lost badly both times, last being circa 2009…. Now, I live in a “paid for” camper and drive two “paid for” vehicles and have ZERO DEBT…. still have to pay lot rent and electric…. Talk about stress relief….still don’t understand how all these sheeple handle this amount of household debt….mind boggling…. Great reporting WAM! Pax Vobiscum y’all….๐Ÿ˜Ž

  • Gary Cristani

    Governments and Businesses can lie all they want but if there are employee layoffs there are customer layoffs which results in more employee layoffs etc etc

  • wayne mcclory

    Presidentsโ€™ Day car sales will be horrible. The average monthly car payment is $480 then add your down payment of $10,000.

  • Dag

    As the global recession was unfurling in late 2008, Harvard professor N. Gregory Mankiw wrote in the New York Times, โ€œIf you were going to turn to only one economist to understand the problems facing the economy, there is little doubt that the economist would be John Maynard Keynes. Although Keynes died more than a half-century ago, his diagnosis of recessions and depressions remains the foundation of modern macroeconomics. Keynes wrote, โ€˜Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slave of some defunct economist.โ€™ In 2008, no defunct economist is more prominent than Keynes himself.โ€

  • Justin Davison

    This is bullshit nsorry guys. Been in the car biz since the day I was born. Total nonsense. Yes it’s going to slide back a little but it’s had a huge run up. Correction is fine and healthy.

    The auto loan bubble is nothing at all like the home bubble. Nothing at all like that.

  • Maros BOJKO

    Guys, Einstein told E=mc2. Do you know, what does this mean? The whole economy is a scam! It is an artificial system created for idiots! Every shit can be transfered to gold and vice versa based on Einstein’s equation.

  • finn1951

    America is a WARMONGER, I for one can’t wait for the corrupt SHITHOLE to collapse, most of the thinking world thinks the same.

  • Sweeten Labrone

    Whelp, I guess it’s time to for for normies to get a second save up money to buy their $75,000 Mercedes or gigantic pickup truck

  • Shaka Zulu

    We are at the last couple of moves of the end game… neg interest rates coming to USA, limits to be removed on payday loan interest, and pieces being put into place for Executive ’emergency’ action on gun control. IMO, this shows that personal debt is about to reach the blow off top, then MAJOR social unrest. After the coming internal struggle in the US, limited nuclear strike and invasion. But a remnant will be delivered.

  • Smufter16

    Once you know the agenda of the Globalists…cram us into cities like cattle and close the gate, you see this as just another domino. Fewer cars being made will drive up prices and eventually cars will no longer be available because demand will dry up. Then the Globalists will offer their solution which which is to drain population from rural and suburban areas in favor of moving the population into holding pens …. er I mean cities.

  • Chip Fernandez

    You know it’s crazy times when the homeless meth man on the corner had more net worth than you (due to debt, liabilities)

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