Rich investors moving into gold, foreign currencies, and overseas assets while U.S. GDP growth just got revised lower again to 1.3%.
Average 401(k) balances dropped again in Q1 as market volatility keeps hitting retirement accounts tied almost entirely to U.S. equities.
CEO confidence is falling sharply too, with executives increasingly worried about Iran, inflation pressure, and slowing growth hitting at the same time.
CNBC reports wealthy clients are actively discussing de dollarization trades. WSJ reports the economy slowed more than expected. Fidelity says average retirement balances fell again. Axios reports CEO confidence deteriorating fast.
The people closest to the money are starting to hedge against the system while the public is still being told everything is fundamentally strong.