America is Entering Another Great Depression

The credit boom came to an end in the 2006-2008 financial crisis, slowly but surely deflationary forces are starting to exert a dominant influence on all markets. The Federal Reserve, a quasi private-public entity has played the central role in the boom and bust and is unable to stop a depression even though its original charter was sold on that idea. Since the end of the international gold exchange standard in 1971, there has been an unprecedented expansion of credit. Without any gold backing, credit growth based on fiat currency was unlimited, the last four decades has resulted in a 50 trillion dollar expansion of credit, its undoing threatens the solvency of the United States and the Federal Reserve. The survival of the United States as a nation is now in question, already totalitarian forces are sharpening their knives for the destruction of the union.


There are two main drivers to the American economy, home construction and auto manufacture, both are in decline who’s descent has been lessened by falling interest rates to historic lows. Rates went lower than the Great Depression even though debt is at historic high levels by all measures, and now a sudden reversal and rising rates will kill home and auto sales sending America into an economic death spiral and another ‘Great Depression’, possibly the greatest depression of all time that ends Western Civilization.

final chart

The Housing Market

In a debt ridden society, credit is ‘money’, the long prosperity of the last 4 decades was created by an expansion of credit, high home and car prices is due to easy credit, thus a contraction in credit will be deflationary. This happened in 2008 with housing, the easy home loans fueled the final boom and now its gone bust, without easy credit the housing market coast to coast has declined dramatically. A $250,000 house, that traded for $50,000 a couple of decades earlier, can only exist so long as easy credit terms exists – low rates and low monthly payments.

Most consumers do not have $250,000 in cash laying around, and those that do are probably smart enough to know not to purchase an inflated property price. House prices are still in the stratosphere, but the majority of people believe that sky high home prices are normal and are counting on them staying that way for sale or retirement. This is pure wishful thinking, home prices are overly inflated by a severely over inflated credit market.  So far home prices have declined in most major cities, but we haven’t seen the depression lows because interest rates are now going up, the final leg down will now commence with the reversal in bond prices.


Home prices are far above the 100 year inflation adjusted mean, decades of successful and repeated credit infusions by the Federal Reserve Corporation have convinced the public that inflation and high home prices are normal. But they are not, they are completely artificial and against natural law, who can afford current home prices without credit? The bust will send prices lower, it would be normal for the market to overshoot to the downside once the credit contraction gets going. All credit busts go lower than where they started, it is perfectly reasonable to expect the correction will overshoot and go below the mean, below 100 on the chart:


Historic low mortgage rates of 3.42% last year stimulated a slight increase in new home sales. The Fed’s limp impotence to stimulate a dying home market are evident. Rates have now edged up in the last 12 months, and new housing sales have instantly reversed, a mere 100 basis point increase in 30 year mortgage rates has already caused the death knell of housing, what will happen in the upcoming credit market panic when rates soar?

New home sales have been plummeting, the FED lowered rates to lower than the Great Depression and that only resulted in slight gain, rising rates will absolutely kill new home sales and send them toward zero. Imagine that, new home construction is about to come to a standstill.

us-housing-market-3 red line

There are millions and millions of homes in foreclosure and millions and millions more unsold, the only way for this market to proceed is steep discounts. Even now houses for a dollar are spreading, Gary, Indiana has now joined Detroit in offering homes for $1. Yes you can buy a house for a buck! And you can buy whole blocks of houses and become a slum lord. Once people see houses selling for cheap, that changes their minds about what a house is worth.  High home ‘values’ is a myth lodged in the brains of brain dead consumers, a house is commodity like any other commodity and its price is set by market forces, oversupply will eventually overwhelm this last vain attempt of the banking system to keep prices high and their balance sheets in the black.

$1 homes in:

Gary, Indiana –

Detroit, Michigan –

Investors buying Detroit properties –

Milwaukee, Wisconsin –

Orange County, California – Buy a house for a $1 and move it –

Over 50% of home sales are now for cash. This is a significant change, people are adverse to borrowing money or using credit, the new trend is credit aversion. This is significant for bank lending, in the perverse world of bank lending, the mortgage becomes a deposit for more loans, since people are avoiding banks the banks will not be able to keep the bubble inflated.  The engine of fractional reserve banking has come to an end.

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Stew Webb 34 Years a Federal Whistle blower
Stew Webb served in the United States Marine Corps and was Honorable Discharge. Stew was a General Contractor-Home Builder until 3 car crashes in one year and is now disabled. Stew turned Federal Whistle blower – Activist of 31 years and has been a guest on over 3,000 Radio and TV Programs since September 18, 1991 and now has his own Radio and TV Network Stew was responsible for the Congressional Investigations and hearings that lead to the Appointment of Independent Prosecutor Arlin Adams in the 1989 HUD Hearings, the Silverado Savings and Loan Hearings, the Denver International Airport Frauds hearings, the MDC Holdings, Inc. (MDC-NYSE) Illegal Political Campaign Money Laundering Colorado’s biggest case aka Keating 5 hearings and the information provided that lead to the 2008 Illegal Bank Bailout.
Stew was held as a Political Prisoner from 1992-1993 to silence his exposure by Leonard Millman his former in law with illegal charges of threatening harassing telephone calls charges which were dismissed with prejudice. Leonard Millman, George HW Bush, George W Bush, Jeb Bush, Neil Bush, Bill Clinton, Hillary Clinton, Larry Mizel, Phil Winn, Norman Brownstein, John McCain and Mitt Romney to name a few are all partners in what is known as the Bush-Millman-Clinton Organized Crime Syndicate. Leonard Millman (Deceased 2004) was member of the “Illuminati Council of 13”