https://twitter.com/NorthmanTrader/status/1691133559824699395
https://twitter.com/NorthmanTrader/status/1691142197314207744
Most recently, the Fed said they no longer expect a recession.
JP Morgan agreed with them.
Can the Fed really achieve a soft landing with 7%+ mortgages, $1 trillion in credit card debt and soaring bankruptcies?
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) August 15, 2023
In my area, there was a business owner who bought a legacy local business pre-covid. They had a bunch of revenue and loyal patronage. Come 2023, and it was time to refinance the business/property loan. Turns out his entire budget was based off of low interest rate payments for his debt. He did not have foresight to make his business more efficient……. and he is now no longer the owner of the business or property.
Gee, ya think this has anything to do with spiking inflation?
h/t Simian_Stacker