Car loans, credit cards and the coming crash of your life...17% of new car buyers are trading in their old cars that have negative equity. They are rolling the debt into new loans some lasting 8 years. $1000 per money payments are at "alarming highs"
20% interest rates are going to be the new average. 20% on all time high credit card debt of nearly 1 TRILLION large.
Macys warns of a tapped out consumer as bed bath and beyond redies for bankruptcy
Now you take the FED who is absolutely determined to stomp out inflation by driving up unemployment and tell me how the average idiot will make his $1000 giant 4x4 truck payment or service the debt on his maxed out credit card.
Samsung warned of huge drop in sales as consumers no longer buy gadgets
The US has 31 TRILLION in national debt and will most likey add another TRILLION and a half to that this year....all being rolled over into rates that are 4x what they were not long ago...do the math
The service sector is now in contraction as has been manufacturing....China isn't going to save anyone by blowing an even bigger real estate bubble. Japan is seeing inflation and is forced to raise their rates for the first time in forever
FED is draining 90 BILLION per month from the system with QT
Only crazy people think that everything's fine and that it's only a little while longer until the FED folds and allows for free money, more debt to buy more junk propelling the stock market to even greater ridiculous valuations
They will fold...of that I have no doubt but there's going to be a lot of carnage in markets before that happens and rest assured it will include gold and your favorite gold miners no matter how much you love them
Earnings start next week...you watch how that all unfolds....brace yourself