Yikes! Despite 3 trillion dollars of deficit spending, GDP is barely positive.

This is when the Fed finally stops gaslighting you. The economy was NEVER doing well, and it's not helping Biden anymore to lie to you about it.

So, better to admit defeat and start planning rate cuts to rescue the wreckage that's coming (and that will take just as long to take… https://t.co/Zr12ujg82C

— Uncle Milty’s Ghost (@his_eminence_j) June 3, 2024

• Deficit Projection:
  • US deficit could hit $3.3T in 2020, amplified by coronavirus relief spending: CBO
• Historic Levels:
  • The U.S. budget deficit reached an all-time high of $3 trillion during the first 11 months of a budget year.
  • This unprecedented level of red ink is a result of the government’s efforts to mitigate the effects of the recession caused by the pandemic, which led to millions of job losses.
• Biden’s Deficit Claims:
  • President Joe Biden has made claims about deficit reduction, but these need context.
  • While he takes credit for cutting the deficit by $350 billion in FY 2021 and proposes further reductions in FY 2022, most of the reduction is due to expiring emergency pandemic spending.
  • The deficits under Biden and beyond are still projected to remain historically high compared to pre-pandemic levels

All the revenue from Tax Day is gone, but the spending hasn't stopped – federal debt jumped $57 billion on Friday and hit new record high: $34.667 trillion pic.twitter.com/NUUuig7SF5

— E.J. Antoni, Ph.D. (@RealEJAntoni) June 3, 2024

We have heard this news for a while, but eventually excess savings will run out and reality will kick in for consumer demand. Till then enjoy the party. pic.twitter.com/mUKytewgDd

— Michael A. Arouet (@MichaelAArouet) June 3, 2024

One of the reasons the US is not in recession yet. People are spending more and saving less than they used to before Covid. pic.twitter.com/wIgHlLolnH

— Michael A. Arouet (@MichaelAArouet) June 3, 2024

There "has been a change" in the TX RE market

Economy is affecting "wealthier people" and multi-million dollar homes

He verifies "occupancy"

For everybody in TX who was crying FOMO in early spring…

Things are not always what they seem

H/T: @GRomePow
CC: @DiMartinoBooth https://t.co/ufOxLKo7ju

— Melody Wright (@m3_melody) June 3, 2024

Is the unemployment rate set to EXPLODE?

Spread between 03M/03Y already dropping.

Can AI save us this time?$SPY $QQQ pic.twitter.com/YCFqoAU1H9

— Guilherme Tavares (@i3_invest) June 3, 2024