World debt has rapidly increased since 1997
And is now around $225 trillion
This is not sustainable pic.twitter.com/gB83iY1FFI
— Game of Trades (@GameofTrades_) September 1, 2023
In case you missed it: #China has cut its holdings in US Treasuries to $835bn, lowest level since 2010. pic.twitter.com/wwEtNFD6ei
— Holger Zschaepitz (@Schuldensuehner) September 1, 2023
Interest rates on used card loans are nearing 15% and credit card debt rates are above 25%.
Meanwhile, the average 30-year mortgage just hit 7.5%.
Borrowing to buy ANYTHING is insanely expensive right now.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) September 1, 2023
Personal savings in the US peaked at $2.1 trillion during the pandemic and have fallen sharply since.
Now, there are about $190 billion in personal savings remaining, down ~91% from the peak.
Since 2022, household savings have declined by $100 billion per MONTH on average.
By… pic.twitter.com/Bb9Ia018OC
— The Kobeissi Letter (@KobeissiLetter) September 1, 2023
No.
The Fed may have destroyed the housing market by unleashing 15 years of ZIRP & QE
Anything happening now with rate hikes is like when you give Chemo to a cancer patient—things get a lot worse before they get better t.co/gzXdBbLBNU
— Amy Nixon (@texasrunnerDFW) August 30, 2023