Evgeni Mitkov

[Evgeni Mitkov @EvgeniTMitkov]

@KobeissiLetter And even the revised numbers are still underreporting the carnage.

[Evgeni Mitkov @EvgeniTMitkov]

This is not improvement of consumer finances. I've seen multiple US banks spend 3 months on underwriting review of simple loans that used to close in days. AI used in underwriting is now asking for every possible piece of financial and non-financial information.

[Evgeni Mitkov @EvgeniTMitkov]

Banks are experiencing liquidity crunch already. Banks are cutting credit card lines as soon as consumers send the monthly payment as evident in the declining non-housing debt in the @NewYorkFed report: https://t.co/6vq8rMdWcT

[Evgeni Mitkov @EvgeniTMitkov]

1/16
Happy $40 Trillion in US debt! This milestone was meant to be reached in October, but "improved conditions" will bring it forward to next week, and hopefully nobody will notice it in the summer lull.

How did we get here? It looks a lot like Dante's Inferno:

[Evgeni Mitkov @EvgeniTMitkov]

16/16
Inflation is an extra tax on the population and this is where the inferno really burns. The take home salary is really just 30-40% for a person paying 50% in taxes in New York and California with 10-20% inflation

[Evgeni Mitkov @EvgeniTMitkov]

1/16
Happy $40 Trillion in US debt! This milestone was meant to be reached in October, but "improved conditions" will bring it forward to next week, and hopefully nobody will notice it in the summer lull.

How did we get here? It looks a lot like Dante's Inferno:

[Evgeni Mitkov @EvgeniTMitkov]

15/16
While Interest expense on the $40T in debt is now growing exponentially. This when the Federal Government has to apply for new credit card every month to pay the minimum payments on the all existing credit cards.