Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.
Americans have depleted their excess savings and are now depleting their credit lines as well. The percentage with delinquent credit card debt is approaching the peak at the end of the dotcom bubble.
www.telegraph.co.uk
The great American boom is finally running out of steam, leaving mountains of debt
All of this talk is already 1 or even 2 years obsolete. While people were arguing about soft vs hard landing shit the stock market rallied to all time highs, they created an entirely new AI/Tech bubble and everything now hinges on whether or not that bubble will crash.
Bad data about the real economy, if and when it comes at all will be completely irrelevant to the mainstream economic analysis going forward.
I find it challenging to envision how the tech bubble could sustain the economy. Essential needs must be met, and people must be able to afford basic necessities such as housing and food. The US economy is moving towards a state where these necessities are no longer accessible for the majority of individuals. As Lenin once noted, every society is three meals away from chaos.
We just subtly redefined the economy. It no longer involves provision of essential goods and services to actual people. It's all a scoreboard of stock prices and interest rates.
Cults never change: we're all going to transcend and become
beings of pure energyNevada Limited Liability Corporations that no longer need food or housing because we can subsist onLord Kalutika's Golden Lighteternal 9% annualized paper growth.*when that bubble will crash
Look at Nvidia, ridiculous
"AI" has got to be the most transparent grift I can remember
Insane what a markov chain can do.
and here i thought the smart money would be on shorting it when it was around $900