@KeithMcCullough warns that the recent surge in Regional Banking ($KRE) and Real Estate ($XLRE), often seen as positive, could be a bear market bounce, potentially misleading investors before a recession. Drawing parallels to the Great Financial Crisis, McCullough highlights this as outright panic buying and suggests the current crisis might surpass the GFC, impacting Main Street where two-thirds of people face financial strain.
🚨This Could Be Worse Than Great Financial Crisis –@KeithMcCullough
After months of declines, Regional Banking $KRE and Real Estate $XLRE enjoyed their best days since the Great Financial Crisis.  That’s not a sign of economic recovery. It’s the opposite: a bear market bounce… pic.twitter.com/l8rNwxIF7l
— Hedgeye (@Hedgeye) November 15, 2023
Financing options drying up as losses mount. And no, it’s not, nor will it be, contained to subprime. https://t.co/hBb5HQbpTt
— Danielle DiMartino Booth (@DiMartinoBooth) November 15, 2023
George is 100% correct. Chapter 2 of Banking Crisis awaits. https://t.co/bOflUXiv6k
— Danielle DiMartino Booth (@DiMartinoBooth) November 15, 2023
BTW, this is probably the most important chart at the moment
— Michael A. Arouet (@MichaelAArouet) November 15, 2023
Globally, liquidity continues to recede, with the combined balance sheet of the six largest central banks (Fed, ECB, BoJ, PboC, SNB, and BoE) now down to 35% of global GDP. That’s still a lot, and well above the pre-pandemic starting point of 25%. pic.twitter.com/zslckLVWXT
— Jurrien Timmer (@TimmerFidelity) November 15, 2023