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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.
@berlinfokus Wow, it gets worse and worse. But I guess certain people will still find a way to fill their pockets anyway.
