Back In Red? Bank Credit Growth Negative For 15th Straight Week, Savings Growth (As % Of Gross National Income) Negative For Last Two Quarters As Bitcoin Soars (Biden Wants 4 More Years To “Finish The Job”!)

Confounded Interest ^ | 11/12/2023 | Anthony B. Sanders

[Kaiser8408a]

To paraphrase AC/DC, the US consumer is “back in red.”

On a amusing or sad note, Biden campaign communications director Michael Tyler’s message to Americans who are worse off economically under Biden: “That’s precisely why we need another four years to finish the job.” OMG! What does “finish the job” mean?? I am afraid to ask.

Where we currently sit is … bank credit growth is in the red (15th straight week of negative growth) and net savings as a percentage of gross national income has seen negative growth YoY for 2 consequtive quarters.

September marked the largest consumer credit drop since May 2020, signaling a significant recession warning.

And with Bidenflation (or Yellenflation) and The Fed’s counterattack, we are seeing bank stocks losing relative to the tech sector.

Proshares Bitcoin (BITO)’s assets have nearly doubled in the past 30 days.

Yes, the Three Stooges (Biden, Yellen, Powell) have put the US on a highway to hell!

Here is a video of Biden, Yellen and Powell trying to spend trillions and NOT caused sustainable inflation.

Well, hell’s bells. The US is starting to resemble Venezuela and Argentina.

[ProtectOurFreedom]

"The job" looks pretty finished to me already. Michael Ramirez paints a good picture of "the job."

[HonkyTonkMan]

To paraphrase AC/DC, the US consumer is “back in red.”

Lame. That's not even paraphrasing. I wonder if AI wrote this.