U.S. savings accounts have seen a significant decrease, dropping from $2.1 Trillion to a mere $190 Billion. The majority of Americans have used up the savings they amassed from pandemic relief funds and the reduced spending during lockdowns. Coupled with escalating inflation and a surge in consumer confidence, spending in the past six months has reached unprecedented levels. The question now is: when will the Federal Reserve adjust interest rates to boost the economy? And are we on the brink of another recession? https://t.co/ooRmReKQPU via @YouTube
“The consequences of AI going wrong are severe so we have to be proactive rather than reactive,” Musk told a gaggle of reporters before ducking into his waiting Tesla. Musk warns of 'civilizational risk' posed by AI https://t.co/UNU0k2GvYO
If your wondering what happened to the stock market today. It was not US related. It was China. China just dropped a bomb on global economics with a surprise rate drop. Normally this would be good news however, this drop is because things appear worse than we suspected. In addition china has also began hiding certain unemployment data! Not hard to do the math what’s going on.
I said this would happen in spite of all the supply claims the Bulls have been touting. We have to remember we had the same supply issue in 2007. And how did that go?
1. Zillow signed rents declining
2. Vacancy rates rising
3. Apt supply booming
“.. suggest that further declines in rental inflation are barreling down the pipe.”
@bespokeinvest#CPI
Home prices are going down again. 📉
Median List Price declined by -1.1% in July 2023, matching the decline that occurred at the start of the downturn last year.
Prices will likely keep dropping in H2 2023 given rock-bottom buyer demand.
The Warren Buffett Indicator is currently flashing RED! Sitting at a staggering 182%, this indicator gives us a snapshot of the value of the U.S stock market in relation to the size of the U.S economy. Here is why this matters...