Blain: "Millennials Aren’t Buying Cars Or Homes Because They Are Indentured Slaves"

Submitted by Bill Blain of Mint Partners

"It takes a big hearted girl from the North Country you can tell how you payed those bills and went through heaven and hell…”

Let’s not worry about US stocks dancing around the 200 day moving average, or Deutsche Bank’s miserably miserable (anticipated) results, or the 3.01% US treasury yield (only some 90 bp lower than Greece (and yes I know they are different currencies, but that’s not the point!) And, yes, the main news today will be whatever ECB head Draghi says. Don’t expect any insights into the disturbing signals of European slowdown, but prepare for the usual kick-ra-can-down-the-road obstification about when rates are going to rise. Yawn.

Instead, let’s start with credit where credit is due.

Last night I was at the 20th Birthday Party for the UK Debt Management Office. Founded by Gordon Brown on April 1st 1998, the small and highly professional DMO staff raised nearly £150 bln for the UK last year, prompting Chancellor Philip Hammond to wonder if this made them the most productive workers in the UK? I suppose it’s no wonder my old friend, reformed banker and head of the DMO, Sir Robert Stheeman, did the maths and idly pondered: since they raise something like £800,000 for the UK every minute, perhaps its time to ask for commission based pay packages for his staff?

The success of the DMO is illustrated by the fact so many other countries have since followed the model, and by the number of bankers at last night’s do in the Treasury. Great to see so many old friends there, and thanks for the many kind words about the porridge. I really have no idea how many people read it as its distributed over a larger number of media outlets including Bloomberg, Euromoney and other financial wires – which proves its freely available commentary and therefore not subject to MiFID restrictions.

The other side of the equation this morning is the UK. A few weeks ago I mentioned the concerns of some of my moneyed friends about the low prices being hit on UK bloodstock (racing horses to you and I) sales. It seems the rich have been taking stock and holding back on discretionary spending. Do they know something we don’t? The obvious answer is “Brexit”… it so unsettling and shrouded in uncertainty that Brexit has been an excuse for anything: “What, you got hit by a meteorite on the way to work?... well that’s Brexit for you.. bless”

The truth is very different. Brexit is and always has been a distraction. The rot appears to be far more deep seated in the structure and fabric of the past 30 years. The truth is a few people have lots more money, but lots of people have far less. So, this morning its UK car sales dropping of the proverbial cliff. Millennials aren’t buying cars – no matter how cheap the financing packages are – because there indentured slavery pittances will never allow them to buy their own homes. The middle classes are holding on to their cars for longer because they are working longer and harder, are being indirectly taxed more, and have less to spend.

Meanwhile, they’re also getting fearful of a slide in housing – which is the only way most folk will ever get any kind of liveable pension. A housing slide could be triggered by higher rates, affordability and the threat of the current high employment being reversed by recession.

Or, perhaps something more insidious.

House prices in London are distinctly wibbly. (Wibbly is that moment before Wobbly becomes a Tumble preceding a Catastrophe.) I found myself watching Panorama on Monday night about corruption and money laundering through London property – the tale of the daughter of a Georgian Don who owns three flats in that Knightsbridge development being on prominent case. We’d be fools to ignore the vast swathes of London property in shell company names that may or may not be linked to industrial scale money laundering.

We’d be equally foolish to ignore the signals send by haves and have nots and income inequality – where rich overseas buyers (and once plentiful City bonuses) made Central London a no go zone. What can government do? Clamp down and seize houses as the proceeds of crime? Difficult. They’ll be told its economic suicide to send signals the UK doesn’t welcome money into the country – London property is perceived as a mega safe asset by the rising Asian middle classes, and the government wants them. (Its apparently just poor people who came to rebuild this country since the 1950s the government doesn’t want.. Oh, what biting political satire.. but the Windrush thing is a national disgrace and someone needs to fall on their swords.)

If the UK suddenly became a less attractive place to buy property, and the housing boom fizzles.. ouch. Massive Ouch. The consequences on confidence and the future will be huge. But the consequences of relying on foreign investment to keep property buoyant are equally horrid. Time to move very carefully lest the Labour party gets its act together and starts sounding rational , objective and electable on income inequality and distribution of wealth. (Oh dear.. If I sound like a radical red this morning its because I’m worried. Bandiera Rosa!)

Elsewhere… I don’t know who else has been watching the Hovnanian saga – it’s a US housebuilder that’s been running out of money. It managed to get a loan from a Blackstone owned hedge fund, but on the basis it staged a technical default to trigger CDS – benefitting the fund that was well hedged, but crushing the CDS writers. Doh! I know what you thinking. I did comment on this last year – but here’s the link to the story.


jcaz Whoa Dammit Thu, 04/26/2018 - 09:14 Permalink

Waah- fucking- waah....  I got out of school in 1982 and tried to get a SBA loan-  I was quoted 23% and I did not qualify.  Rather than giving it all up and moving in with mommy and daddy, I got 3 jobs and worked my ass off- 

Tired of this "poor me" shit-  almost all of these fuckers don't work 40 hours/week by choice, then wonder when they can't afford anything.  

In reply to by Whoa Dammit

pods Vendetta Thu, 04/26/2018 - 09:40 Permalink

This is just the end stage of the exponential function we call our money system.

The old folks who benefited most will sit back and tell those youngins how to do it, because that is how they did it. Pick yourself up by the bootstraps, you lazy fucks they say. Of course, those are the beginning of the system got the most out of it, while those last in get a big fat one up the backside and it is impossible to do it how those at the beginning did.

Hey lester, if you want to see an example of an ACTUAL ponzi scheme, here it is. Our money system, or our entitlement system too.


Of course, the mouth-breathers will fall for the trick and start blaming the other groups for their own misfortune when in reality it is the system set up by those long ago.

(for an example, look at the first fucking post on the thread)

The young will have the last laugh though.  Always happens.


In reply to by Vendetta

King of Ruperts Land RAT005 Thu, 04/26/2018 - 16:20 Permalink

We have to eliminate the Governing, Bureaucratic, Technocratic class. They are harmful parasites sucking our life blood and claiming its for our own good. It is now obvious that all their plans and schemes are wrong and incompetent. If they refuse to stand down then we the people must forcibly put them down. And I do mean with prejudice. They are the enemy domestic.

We also have to deal with what the satanic, cheating, stealing, crony class have done and strip their assets. There are some honest rich people, but the have some splainin to do to be allowed to keep some of their wealth.

I am not no Barney Sanders Communist. I just want to round up the criminals and the government that allied with them. When "mans laws" become satanic in purpose and effect, the Gods honest moral laws have to be reverted to retroactively.

In reply to by RAT005

FBaggins ThanksChump Thu, 04/26/2018 - 15:13 Permalink

They are mainly a product of the education and brainwashing polices imposed on them by the Western establishment elites who continue to be hell-bent on destroying Western civilization. The sense of entitlement for jobs and material things is instilled, but what leads to such fantasies and should be more worrisome is the absence of incentive or motivation to start families and raise children. People who really want those things do not wait around for Godot. For the real source of the problem check out the establishment ordained and propagated policies pushing cultural Marxism, population-reduction, and diverting human sexuality from reproduction. The West has been targeted. The devastation is there and there is no accountability or correction in the works. 

In reply to by ThanksChump

chiaroscuro FBaggins Fri, 04/27/2018 - 08:55 Permalink

The correction will come when the laws of God and nature catch up with us. One of the greatest ironies of human nature is that, as a species, we are intelligent enough to see our demise approaching and even intelligent enough to escape it, yet we lack the discipline to change our self destructive trajectory. Somehow we always trick ourselves into thinking "this time will be different". 

In reply to by FBaggins

MaxMax pods Thu, 04/26/2018 - 09:48 Permalink

'This is just the end stage of the exponential function we call our money system.' 

Yep.  When real growth is constantly lower than debt/money/pension/entitlement growth, you get an ultimately unstable system that will crash at some point.  Course when that point comes is anybody's guess.  It almost blew up in 2008, but the masters of finance and banking have held it off so far.

In reply to by pods

MoralsAreEssential pods Thu, 04/26/2018 - 10:05 Permalink

Same thing with socialist policies and those countries which have looked so good for about 2 generations and are now failing.  I used to talk to a commodies broker originally from the UK who extolled the virtues of socialism stating he would not have had the opportunities for education and his successful wealthy life if not for UK socialism. I asked him why he was living in NY instead of UK, a question he never answered.  I made the comment that successful socialism appears to last about 1 1/2 generations and then the deficits (pun intended) emerge and continue to unfold negatively.  Look at our social Security System.  As soon as purposeful inflation (which has always been the Banks MO) outpaced what was really a tax no one could escape, the benefit no longer pays for basic essentials which is what CONgress falsely implied it was supposed to cover for an elderly person.  The fact that this extra tax paid by the majority of the population for their entire working lives is today a financial flop for buying the necessities of life and even that pittance may be in jeopardy once the "reset" occurs (see Katherine Austin Fitts video on 2017 end of year interview) supports the con which is "socialism" under the totalitarian financial system in effect.

In reply to by pods

Oldwood Justin Case Thu, 04/26/2018 - 13:27 Permalink

Any sustainable system must be voluntary, not imposed. Eventually the forced redistribution destroys its own economy. 

Socialism occurs naturally within a more or less a homogeneous population, and the smaller, the more effective. Shared values relates to sharing in more materialistic things. Imposing socialism (especially across large dissimilar populations) as some form of social or economic justice is UNNATURAL and will eventually FAIL.

There is nothing wrong with Utopian aspirations as long as they are more or less universally accepted.


In reply to by Justin Case

Maghreb pods Thu, 04/26/2018 - 10:12 Permalink

It goes a lot deeper than that Pods

Its Rothschild Bro's who are running the show with the U.K student loans. Something called Project Hero.…

People are figuring it out though and its fueling the rise of Anti-Semitism especially on the far left. They are going after big names.……

Meaningless acts really when you consider how powerful they are. The real power is in the hands of the operation being run out of Spencer House in Central London. The Rockefeller and U.K Rothschild trusts merged awhile back. Its the same system although the U.K isn't so fucked as the U.S.…

Then there is Warburg and the Euroclear system which has profits in the multi trillions.
U.N are in on it because it was these families along with a few others that created the modern financial system after the first world war. They aren't really interested in making money its more about controlling inflation to make sure people are forced to work or idle as they are told. They control the nature and purpose of currency by creating and structuring it 

Its the Occult angle that frightens people. Claims they are all part of some cult that intends to bring about the end of the world, destroy humanity and god knows else what. Their relatives the Astors have been rumbled a few times. Apparently they had some ancient ritual chamber beneath their mansion. The Christians are probably right about the Illuminist angle. Money has no value unless it buys something that is perceived to have value. Manipulating perception allows you to de-facto control the money supply. The reason the freaks are getting involved is human nature itself goes against anyone wielding that much power.

They are using the education system brainwash people and get them bound into servitude. Only people chosen by the system will be allowed to advance and most of them will have to be absolutely despicable and blindly loyal. The whole secular education system is just a mirror image of the Masonic structure. The secular element are happy that it makes tons of money and keeps the kids in line but they don't realize the real situation. Western civilization is dead. 

You laugh I've seen most this shit first hand student finance being used to fund a cult and a crime syndicate. London School of Business and Finance are fucking Devils.

Not a lot to do seeing how these things were written in blood, fire and stone so long ago. Mostly its sex that keeps things on an even keel these days. Something these piss-ant millennial can't have without a house or car to do it in. Hence the rise of Incel terrorism. 

If you can't beat them join them......


In reply to by pods

commoncourtesy Maghreb Thu, 04/26/2018 - 11:21 Permalink

Great post.

Don't often hear much about UK trusts/corporations.

US is much more accessible: 

Central Trust Company of New York owns The Corporation Trust Co which is the registered Agent for Northern Trust Corp

Northern Trust Corp is the holder of

• IRS Company

• JP Morgan Chase & Co.

• Citigroup, Inc

• American Express Company

• SPDR Gold Shares

• General Electric Co

• Wells Fargo & Company

• UnitedHealth Group, Inc

• Bank of American Corporation,

The federal reserve is also listed as a religious organization. All of the State Courts are listed as private Non-Profit Corps too and all owned by the Bar Association under the Northern Trust Corporation.

See here for more:

In reply to by Maghreb

Maghreb commoncourtesy Thu, 04/26/2018 - 12:33 Permalink

Thanks for the info commoncourtesy

If you read any of the 19th and early 20th century conspiracy literature its scathing of the Trust system. Whats interesting is from this document is the mention of the Hanover Bank.

"Name Change To Central Hanover Bank and Trust Co."

I think this could be the smoking gun for the infamous "special relationship" between the British City of London and U.S banking systems. Hanover were quietly ousted by House Saxe Coburg and Gotha also known as the current Windsor family. Trusts only came into play after the passing of the income tax and helped create the vast income discrepancies that allow for the U.S Empire to exist. Now its coming apart the fault lines between the old families may be emerging and we can see whats really going on.

In some ways it explains why the "Sovereign Citizens" are so hostile to the U.S system seeing it as an extension of the old British City of London.

I'd point to rise of the Astor family and the Pacific North West Company as the return of the British influence in U.S politics in the 19th century. Since then its been a slow spread of the city of London via what many refer to the Illuminati and financiers.

Du Poet seems to be the French Faction.

Mention of Chase Manhattan also seems relevant because it was Secretary of the Treasury  Salamon P Chase who organized U.S financial policy for decades during the reconstruction period. Its denied that he was involved but he must have had some hand in helping Chase Manhattan.

Explains why the U.K and the U.S are mostly in lockstep. If the rumors are true that the Masonic factions are walking in line with Zionism you get sense of why the Middle East is being subverted. 

Perhaps its pointless to stand in the way of such Deep State Institutions if they really are that ruthless. Then again maybe understanding their nature makes it clear what will happen next on their insane quest. 

To tie it back to the original post. The whole education system seems to be designed so none of the kids have a fucking clue what is going on. A couple of books would explain the whole situation.

In reply to by commoncourtesy

Maghreb Maghreb Thu, 04/26/2018 - 13:18 Permalink

Oh and Commoncourtesy. It might sound crazy but watch your back. Something tells me these guys don't like being talked about. 

They are still around in a big way

Its a fools game to bother snitching on the devil to fools.....

I'll leave this whole thread with my equivalent of a legal disclaimer...

In reply to by Maghreb

rccalhoun pods Thu, 04/26/2018 - 12:21 Permalink

pods,  fantastic post.  

also, anyone who ever says "its for the children"...look in the fucking mirror and look at the massive debt you have put said children in.  that person in the mirror is a selfish hypocrite.  the young will seize your assets (eventually) to even things up.

In reply to by pods

Indo_Expat rccalhoun Thu, 04/26/2018 - 16:22 Permalink

Not as long as there are Living Wills and Trust Funds. Seniors are hip to this bullshit and would now rather bequeath their wealth to a charity rather than handing it down to snivelling little bloodsuckers waiting in the wings for them to die and feed off the carcass of their estates, clawing and scratching at relatives for scraps from the table that fed them all throughout their worthless excuses for lives.

In reply to by rccalhoun

NVTRIC Indo_Expat Thu, 04/26/2018 - 19:15 Permalink

Sounds just like the fucking baby boomers who raised me when their parents died.  Family I didn't even know existed came out of the woodwork to fight over the most petty bullshit.  I will never forget my Aunt using my grandmother's money to remodel her house before she died.  Rot in hell you greedy fucking cunt.


Some of us have made it into positions of power and we will kill you, legally.

In reply to by Indo_Expat

dbsbunker pods Thu, 04/26/2018 - 12:55 Permalink

If it "always happens", why aren't they laughing now?


The reality is people who work hard get to a point where income exceeds outlays.  It's not a matter of "getting in on the ground floor" - it's just a matter of living long enough that your kids are gone, your mortgage is paid, and your investments are finally worth something.

In reply to by pods

Indo_Expat pods Thu, 04/26/2018 - 16:10 Permalink

We'll see how hard you laugh then that draft notice comes in the mail, cunt. You won't have to worry about old age as there will be none for you nor your fellow useless, worthless millennial lampreys.

Only cowards and parasites blame their failures on the elderly that should have aborted them in the first place, and poor Americans that are on the streets now after having their pensions stolen and being taxed out of their own houses, rather than going after the government that is the real enemy. But you don't have the guts for any of that, unlike generations before yours.

You are doomed, ungrateful, self-entitled little mutant asswipe and the handwriting is on the wall for your failed, completely fucked-up generation of societal wastrels. Happy dirt nap shitbag, won't be much longer now and I will live to see it - laughing my ass off.

In reply to by pods