You Won’t Believe What Just Happened (It's Dire)

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[brandonbagwell]

If JPM wants capital, maybe they should pay more than 0.01% APY on a savings account.

[tribulationcoming]

Back in the old days there was what was called the pork barrel. When a hog was slaughtered most of it was used to make ground sausage, this would be fried and a small barrel was filled with these patties then hot lard would be pored over the contents until the barrel was filled and then sealed. This was a major food source for the winter months, the patties would be removed and fried again and fed the family for the a long time.
Well, it looks like the economic "pork barrel" is almost empty and this is what kept the economy running. This story was delivered to me by the lady who practiced this method of preserving meat. An old colloquialism which can be applied here is "Root Hog or Die".

[thomhall]

Here’s another indication of consumer problems: As of April the average length of new car loans is a new high of 69 months. Lenders are now offering 94 month new car loans.

[PhilDegore]

I don't understand it, I walked into the bank with 10oz. of gold, said, "put this in your vault and give me a line of credit so I can get more gold. " They acted like they wanted to arrest me!! The same thing with Reginal finance and Mariner finance. They would rather take a F'ing car or house for collateral. .WTF.. And no, they wouldn't give me a loan on my gold..
Former United States Marine...

[peterquin]

We will see if consumers really are running out of money next Tuesday with the advance retail sales release. Retail spending has been essentially flat over the last 8 months. If it drops significantly with Tuesday's report, then it's a good bet the current recession will soon become undeniable, even for the Administration.

[_KarlS]

Powell looks like A.L.F. from the 80's sitcom
but this time
there's *no laugh track*

[millardbrown]

We are having a hard time selling chicken wings for $20.00 a pack at the market I work in. People pick them up then throw them back down mad.

[jeffreyolp]

I know things are getting much worse in our area. When I see auction signs at all intersections I know is getting bad. Last time I saw it was 2008. Not good makes me nervous.

[LayneRose-grhq]

I thought the fed wanted unemployment up and demand down…

[michaelmcdonell]

I have a question, why are we paying interest on a National Debt of 33 trillion Dollars, if only 3 trillion dollars is actually held by private or overseas nationalities. Sure it's on the books with the Fed., but it was created out of thin air. why pay interest on such a debt. If you can't go 0%, then maybe we should set it at 1/2% interest and let inflation eat it over time. Why give the Fed Banks such a plum. In 10 years, we could have a debt of 70 trillion and have no spendable income, high interest, plus hyperinflation and default.

If I have a wrong thought about this, then explain it to me, please!

[bobleglob]

Of course. Everything on youtube is dire.

[garymensurati]

I'm out of money myself. I've discovered many variations of rice and bean dishes. Thanks Steve. Blessings to all.

[rowdyfavor]

Steve, got them ears lowered, lookin good my man 👍

[ibjwez]

Wonder what the next scary word(s) will be. Shiver your timbers!

[pt]

Homeless everywhere in California wen revolution ?

[md]

Economy, those charts look like disneyland rollercoster 🎉

[ednichol]

Plus some reserves for the Digital no longer overnight settlement system.

[wyioughta]

um quick question, how are we buying gas with demand of the USD for gas is no longer feasible? even if we pump our own gas is it under the pressure of paying down the debt of every American? it is not ours until we produce enough ahead of the debt placed upon us by those that will bail us oit of this mess...

[timothypotter]

Steve, do your CTA and Moment reports cover European markets at all?

[franklucas]

It's the end of the world as we know it, it's the end of the world as we know it, and I feel fine...