In the “bet-you-didn’t-know” category,
Homeland Security Secretary Mayorkas issued written guidance making it clear that:
1. Illegal presence alone is not grounds for deportation.
2. Criminal charges, convictions or gang membership alone are not enough for deportation.
You basically have to be a convicted axe murderer to be deported!
That’s because every deportation is a lost vote.
Credit card delinquencies are now rising at their fastest pace since 1991.
Since 2022, credit card delinquency rates are up almost 60%.
To put this in perspective, even at the peak of the 2008 crisis the growth rate in delinquencies did not pass 50%.
Meanwhile, the delinquency rate on auto loans is at its highest since 2012.
This is likely just the beginning of the pain consumers will feel from higher rates.
All as excess savings are set to be depleted by the end of 2023
Can the Fed really avoid a recession?
Over the last 15 years, the US National Debt has increased at a rate of 8.5% per year versus an increase in economic growth (nominal GDP) of 4.0% per year, per Charlie Bilello.
US national debt has jumped by nearly $1 trillion per month since the debt ceiling "crisis" came to an end in June.
Total US debt is now up $10 TRILLION since 2020.
To put this in perspective, it took the US 232 years to add the first $10 trillion in debt.
The worst part?
The debt ceiling is effectively UNCAPPED until 2025 in the latest debt ceiling agreement.
Deficit spending has no limits until 2025.
If we see a recession, we could easily see $50 trillion in US debt within 5 years.
Why is this not getting more attention?
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