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oh shit .. 05:15 in the morning
just spend a night researching #US #consumer houshold #debt, without noticing
at least you can profit of my stupidity because I'm telling now that the world is clearly headed into a 2008 style global #EconomicCrisis
epicenter will again be the #USA
this time it isn't going to be just a #mortage default crisis but a everything default (#AutoLoans, #CreditCard, #StudentDebt, ..)
and the trigger is #tariffs & #doge adding to an already financially hurting nation
and remember:
all the above #consumer #debts are "securitized" .. meaning they are spread around everywhere in the #FinancialMarkets
just like 2008
@berlinfokus Interesting, tell us more.
The most interesting part is how the whole thing has been hidden in plain sight.
#ConsumerCredit reached an all time high under the #Biden/ #Harris administration in the #USA. And while they tried to mitigate that somewhat by for instance restructuring programs for #StudentLoans, the double #burden of stagnating #wages and rising #inflation has pushed many households over the edge.
Now #Trump is adding way more inflation to the mix & laying off tens of thousands of govt #workers.
Forgot to mention at least one important caveat.
To some analysts current data doesn't suggest an inflationary pressure as a result of the #Trump #tariffs but, given the sorry state of the #US #economy right now, rather a #MarginSqueeze with (more) #layoffs & mass #bankruptcy as a result.
That of course would not be helpful at all, meaning a jump from the frying pan into the fire.
Others even foresee a #stagflation, combining the worst of two worlds.
Anyway, change will come. 
@berlinfokus So it's more that necessary measures are not taken by the US government, to counteract these effect. Then there is the question of cui boni. Might this be part of a bigger plan? Every dumb government has capable experts in their halo, so they should be aware of the possibility of these possible economic progression.
️ I don't have an answer to that. Only a personal opinion.
I believe that the #Trump #Junta wants to put the "bottom" 90% of the #US population into economic pain. For a variety of reasons. Some are outright #evil, some more connected to the general #macroeconomic situation of the #USA.
What they WANT is a managed #recession they can handle.
What (at least as I project this) they are instead GOING TO GET is a #FreeFall off a cliff.
I think they miscalculated badly here.
@berlinfokus yeah. future will tell. but the more I read about it, the more anxious I get.