Makes sense, with the acceleration in credit card defaults hitting levels higher than even the 2008 Financial Crisis pic.twitter.com/AA0i4w9S97
— Bravos Research (@bravosresearch) September 12, 2023
BREAKING: Delinquency rates among credit cards issued by smaller banks are the highest on record, per Apollo Group.
— unusual_whales (@unusual_whales) September 12, 2023
The crashing office market will deepen the economic ‘doom loop’ for America’s cities, economist says
Auto loan delinquency rates are now at their highest levels since 2008.
Since the Fed started raising rates in March 2022, auto loan delinquency rates have nearly doubled.
For Q2 2023, the auto loan delinquency rate in the US jumped to 7.3%.
This is up from 6.9% in Q1 2023 and… pic.twitter.com/Izz6PjU3UJ
— The Kobeissi Letter (@KobeissiLetter) September 12, 2023
Good Morning Everyone! It’s Apple Day, the superbowl of smartphone releases. Here's a sneak peek:
"The middle class is struggling! Recession is here!"
Meanwhile, Apple: pic.twitter.com/eWTNm7wgGR
— Genevieve Roch-Decter, CFA (@GRDecter) September 12, 2023
Hope everyone got the debt they need pic.twitter.com/WcguafvoBF
— Win Smart, CFA (@WinfieldSmart) September 12, 2023
CHINA 🇨🇳 CRUDE 🛢
IMPORTSSECOND HIGHEST EVER pic.twitter.com/fKqREhddWx
— Win Smart, CFA (@WinfieldSmart) September 12, 2023
— Don Johnson (@DonMiami3) September 12, 2023
Looks to me like the next leg higher in #oil is coming with that ascending triangle pic.twitter.com/WqDOCDKUps
— Michael J. Kramer (@MichaelMOTTCM) September 12, 2023
The housing market keeps getting worse
Mortgage applications have fallen to their lowest levels since 1995 pic.twitter.com/q4hOMhQDIG
— Bravos Research (@bravosresearch) September 12, 2023
US commercial banks lost $71.2 billion in deposits last week.
If this was 2008, that would've been the 3rd largest outflow during the entire Great Financial Crisis.
Since the March 2023 banking panic… it's only the 8th largest.
Troubled waters lie ahead 🫡 pic.twitter.com/PB4anBNwIJ
— Joe Consorti (@JoeConsorti) September 11, 2023