2023 Recession: Elon Musk Says Kind of Debt Is ‘Most SeriousMore than one genius is predicting serious concerns over the current banking crisis and its Debt the one most consumed commodity in the US economy where everyone wants it, especially with years of Interest Rates under 2% has kept the machine driving but times have changed the fastest over decades and that's having Interest Rate now at 5% with Prime Lending Rate at 7.74% Crunch before Crash, governments continue to voice confidence to the public but I can assure everyone that behind closed doors conversations is heavy. I've said from the start of confidence being restored that if one more bank fails after governments saying not to worry will see the markets plummet and restoring confidence at that point will fall on deaf ears leading to panic, the roaring 20's rallies in every Stock Market champagne being toasted to avoiding a crash and "Crash" and we'll never see it coming we'll wake up one day to a bloody mess. Of course, I'm being overly dramatic but I've seen it happen more than once. We cant argue that the Oil and Gold prices have been bullish with Kurdistan adding to Oil bullishness and that has ties to the TSX - FORZ stock. Next week starting Monday US Data returns last week was great not having any data till Fri and that data was bullish for Oil but everyone has that wait-and-see attitude and its strengthening with Oil now touching $76 with concerns Kurdistan will reflow or the bigger elephant in the room, the condition of the financial system and if there was no chance of bank failures Oil would be at $80. Monday I posted that Oil being this bullish must have traders confident that Oil will hit $75 and Fri it happened. We'll all have to wait till Monday to get a read on the markets every day having US Market-Sensitive Data will be a landmine week.
Inflation - Financial Crises - Deflation 2023 Recession: Elon Musk Says One Kind of Debt Is ‘Most Serious Looming Issue’ Facing Economy | Nasdaq Eurozone Banks Cut Lending Even Before Latest Financial Turmoil - WSJ Economic Calendar (tradingeconomics.com) Fed's Kashkari sees 'more work to do' on inflation | Reuters