“It will not end well. But the timing is still unclear.”
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Agree that it will not end well. But everything I am hearing is that quarters 3 & 4 will be devastating, though the true damage to the economy will not be revealed until after the new year.
I fully expect a catastrophe in the commercial real estate market, due to several factors including vacancies. I’ve read that 1/3 of the mortgages are up for renewal this fall and several will be turned down. because of this, unrealized losses to the banks will continue to crater the financial lending markets.
The dollar is running into a BRIC wall and will soon collapse the dollar.
Energy and food costs are spiking and once again the supply chain is experiencing orchestrated set backs.
IOW, the economy will soon tank. Just as planned by NWO globalists.
Don’t forget more than 70 billion in student loan payments that restart in September. While not every debtor stopped payments, a huge number did. That money will get sucked out of the economy, causing a slow down among the cohort that “should” be buying homes and getting married.
It will not impact the markets October 1st…but it will lead to lower consumer spending, higher consumer debt, and a delay in capital purchases (cars, homes, washers, dryers, etc.) The average loan is somewhere around $350 a month. But there are 40 million debtors. It’s going to hit just about the time holiday spending is supposed to surge. That will multiply into the economy in Q4 and Q1.