I am working on a 3-part series that won’t be ready till Tuesday of next week. I think it will be VERY enlightening…and potentially useful for some. Entertaining to say the least.

 

I am also researching a couple of things going on right now…they are deep down a rabbit hole with serious potential to them. I won’t post that info until I can verify it…and that is proving to be difficult.

 

In the mean time…

1. S&P just downgraded more banks’ credit ratings.
2. Kevin O’Leary, one of the largest and most savvy start-up investors in the US,  isn’t pleased that the U.S. sovereign-debt rating has been downgraded. O’Leary has said that the downgrade has caused him to worry about the nation’s fiscal resilience, the strength of the economy, and the cost of borrowing money.
3. Wells Fargo reported credit card delinquencies nationwide are surging and could signal significant recession, or worse. Additionally, credit card delinquencies outside of the top 100 banks have skyrocketed.
4. According to Newmark Group Inc. about $1.2 trillion of debt on US commercial real estate is highly leveraged and property values are falling…by 31%. Additionally, that $1.2 trillion of debt is facing default…soon.
5. Virtually every indicator is flashing red for a recession. Of course, the average consumer already knows we are in a recession.

Have you ever heard the saying…”When the US sneezes the rest of the world catches a cold.” That was in ragards to the US economy. Then there is the saying…”As goes the US economy, so goes the world.” That too was in relation to the US economy.

US GDP for 2022 was about $25 trillion. China’s GDP for 2022 was about $18 trillion. We know China’s economy is in is terrible condition right now…what happens if they sneeze? We know that the US economy is struggling…what if both countries sneeze…or even sniffle a bit?

See you next week!!