When we ask why Spy die, I will tell you why
- Houses 2x normal price, 3-4x monthly Payment with interest rates increase
- Uber eats is f**king $40 for a Taco Bell meal, you diahrea and thus lose 80% of the nutrients so 10 calories for $40. That ratio is worse than in refugee camps.
- People at work: my credit card is maxed out
- Online retailers in niche industries (literally this week): We now offer Afirm! And other finance options for things that cost $100.00. Credit crunch is here.
- Student loans nice little cherry on top
- Car monthly payments are on average 2x per month in last 2 years compared to last decade.
- White collar job income increasing well below rate of inflation
- Record ownership of rental properties by individuals, short and long term. Not everyone is built to be landlords, not everyone is ready for taxes (get ready for tax liens) while not able to even fully pay their mortgages with rent or Airbnb (and don’t forget they might be on ARM because banks had to justify the risk of lending to these people)
- Luxury market for watches died
- Market for firearms has died. Guns are insanely cheap & plentiful during a time when the atf is actually banning millions of firearms (ar pistols) that usually cause panic buying. Firearms market is usually incredibly robust. Especially during Democrat presidency.
- Gas prices rising, Middle East looking hella stable so we don’t need to worry about oil prices…
- Only fans creators crying because some whales are withdrawing. The OF girls are making TikTok’s crying about being poor and naked forever on internet.
- WSB think they can “short squeeze” anything other than penny stock because of Netflix movie
- Nvidia sold shovels to a gold rush for “Ai” because of chat gpt. Turns out the only productivity gen Ai has brought us was replacing a few entry level devs and writing really bad scripts for cold email for bad sales development reps at companies that won’t have their emails read anyways. A few companies are propping Up stonk market and it’s all based on false promises that only boomers believe. The reason the ai rush has weight to it is because it has scammed boomers and boomers own all the assets.
Seeing inventory build up in random niche markets is making me think consumers have just now maxed out their cards. They will max out their afirm credit, and combined with their extreme car payments, mortgages, rents, and student loans, will default in 2024.