Independent thinking for complex markets and current events
Tweet: NEWS: Auto loan delinquencies keep climbing Subprime delinquencies (FICO: 580–669) jumped 26 basis points to 5.17% in Aug. Even prime loans (660–719) saw a slight uptick to 0.50% overdue. The reason? Consumers with auto loans originated in the past two years are falling further behind as elevated interest rates and vehicle prices squeeze household …
Coffee making another run for all-time highs pic.twitter.com/wjNgaIknez — Barchart (@Barchart) May 29, 2024 Back in December – February not a single bank on Wall Street was close to the current market forecasts of just 1 rate cut in 2024 UBS even expected rate reductions of 2.5% (10 cuts equivalent) Incredible how all of them …
"Victory on inflation" Core PCE accelerates as government continues to print currency. pic.twitter.com/hxtOp0XAYl — Daniel Lacalle (@dlacalle_IA) May 28, 2024 The acceleration of Core PCE (Personal Consumption Expenditures) coupled with ongoing currency printing paints a grim economic picture. As the government increases its monetary supply, inflationary pressures intensify, impacting everyday consumers and eroding purchasing power. …
In a stunning turn, what was once a quick, affordable meal has transformed into a financial luxury for most Americans. Key List: 78% view fast food as a luxury due to high prices 62% eating fast food less often because of costs 46% believe fast food costs as much as local sit-down restaurants Source: https://www.foxbusiness.com/economy/americans-consider-fast-food-luxury-high-prices …
Homeownership is becoming an increasingly expensive endeavor in the United States. The average cost of homeowners insurance has soared to $1,915 per year. This figure is based on a 40-year-old homeowner with good credit and $300,000 worth of coverage. However, the cost varies significantly across states. Oklahoma, Texas, and Nebraska top the list of the …
China’s insatiable hunger for gold intensifies with a staggering 2,800 tons imported over the past two years, solidifying its status as a global powerhouse in the precious metal market. As the country’s central bank continues its relentless purchasing spree for 17 consecutive months, gold emerges as a coveted asset, outperforming traditional benchmarks like the S&P …
A financial shockwave reverberates: Discover credit card charge-offs peak since 2008, while Four Seasons Maui faces default on a $234 million loan. Amidst the unexpected downturn, even luxury icons falter, signaling broader economic turbulence. This is totally nothing like 2008 guys, relax! Also: Discover credit card charge offs hit highest level since 2008 pic.twitter.com/3152thEWBd — …
It might soon become harder to make healthy breakfasts . Cal-Maine Foods, Inc., the largest producer of eggs in the United States, has closed one of its facilities in Texas due to an outbreak of the highly pathogenic avian influenza (H5N1). Two million birds have succumbed to the virus, leading to the depopulation of approximately …
More low income earners in the Us are not dining out, per Reuters: pic.twitter.com/oAbUo1h9D0 — unusual_whales (@unusual_whales) April 8, 2024 “Runaway prices at U.S. fast-food joints and restaurants have made people skittish down the income ladder and executives at chains including McDonald’s (MCD.N), opens new tab and Wendy’s (WEN.O), opens new tab recently said they …
Canada is in a RECESSION! "Mortgage delinquency rates ROSE 52.3% in the last quarter of 2023" Ontario mortgage delinquency rates are at 135% !?! "Delinquency rates for non-mortgages including credit cards rose almost 30%" This is absolutely nuts… 🚨🚨🚨 pic.twitter.com/1kBguAkcWD — Wall Street Mav (@WallStreetMav) March 27, 2024 More Canadians are beginning to crack under …
Manufacturing is dying…inflation is broadening…and the kids are trading a coin called “Joe Boeden” https://t.co/j5rTZY0CMz pic.twitter.com/V7mwSuLUc0 — Will DeCotiis (@Will_DeCotiis) March 15, 2024 The latest data from the U.S. NY Empire State Manufacturing Index paints a grim picture, with March’s figures plummeting to -20.9, indicating a rapid decline in the sector. Every indicator spells trouble: …
via Mike Shedlock: Credit card debt surged to a record high in the fourth quarter. Even more troubling is a steep climb in 90 day or longer delinquencies. Please consider the New York Fed Household Credit Report for the Fourth Quarter 2023, released this week. Consumer Credit Key Points Aggregate household debt balances increased by $212 billion …
Maui faces a homelessness crisis blamed on Biden’s FEMA, forcing residents into roadside tents. FEMA’s housing efforts fail, pushing landlords to evict tenants for FEMA occupants, skyrocketing rent prices. Displaced residents receive no aid amid job losses, while vacant short-term rentals compound the issue. 🚨 THE BIDEN ADMIN HAS CREATED A MASSIVE HOMELESS CRISIS ON …
In a perplexing turn of events, the tech industry is witnessing a paradox where soaring stock values on Wall Street stand in stark contrast to a surge in layoffs. January 2024 has set a troubling record, with 23,670 workers facing layoffs from 85 tech companies, marking the highest monthly figure since March of the previous …
The Yahoo Finance article sheds light on a concerning decline in consumer confidence, especially among American families earning under $100,000. While the inflation rate has ostensibly dropped to 3.4% in December 2023 from a peak of 7.2% in December 2021, the alleviation is not translating into relief for many households. The culprit? Skyrocketing interest rates. …
Last time when institutions wanted to buy cheap, the “articles” were all about how the market was about to crash (it soared instead). These market participants all have their own agenda, part of which is to transfer liquidity from retail’s pockets to their own pockets. The stock market could soar as much as 30% next …
by confoundedinterest17 Biden is hoping for one more term as President. And declining oil prices might help him get re-elected. But we have a battle brewing! The United Nations and World Economic Forum (and their proxies John Kerry, Greta Thunberg and Green Joe Biden) against …. everyone else. Despite Biden’s lame attempts (through climate envoy John …
via naturalnews: Did you know that electricity prices in Germany are triple the cost of electricity here in the United States, all due to Germany’s “green” energy policies? In recent years, Germany has been phasing out coal and nuclear energy in a way that has been described in German media as “not well coordinated with the …
The financial landscape is in tumult as repo rates soar, with banks heavily borrowing to address liquidity concerns and a looming specter of potential economic deflation. Adding to the complexity, Chinese banks have entered the scene, issuing an extraordinary volume of short-term debt at penalty rates, coinciding with unusual activities by the Chinese Communist Party …
by confoundedinterest17 To paraphrase AC/DC, the US is back in red. Let’s start with personal savings as a percentage of disposable income. It has been in the red (meaning very low) under Billions Biden. And The Fed is really in the red under Biden’s inflation rattling spending with losses leading to a surge in remittances. And …
Americans are about to hit a breaking point, according to Walmart’s CEO. Soaring prices are severely impacting consumer spending habits, and the world’s biggest retailer is worried about how this trend is going to affect its bottom line this fall and winter. Bill Simon, the head of U.S. operations for four years, revealed that for …
The CEO of Chevron predicts that oil will soon surpass $100 per barrel. This is one of the largest companies in the world. SPR is drained. China is loading up on oil. It's not the smartest look. — Gold Telegraph ⚡ (@GoldTelegraph_) September 21, 2023 $150 Oil 🛢 is SO post election pic.twitter.com/04EnN3TZJf — Win …
by confoundedinterest17 So much for Biden’s “miracle economy.” Challenger jobs cuts report is out for May and job cuts soared 286.7% year-over-year (YoY). As M2 Money growth crashes.