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Summer is finally here and we have not seen the bottom of the market downturns!
Savings rate is now at if I'm not mistaken 4%, 2008 levels (meaning a person making $100,000 per year is only saving $4,000...because inflation is eating them alive) Personal savings rate fell to 2013 levels. Super low savings. Record breaking debt
Credit card debt grew at record setting levels.
Student loan pause has been 2 years. The average student loan is $39.3 thousand payback will be restarting soon!
New homes start-ups dropped 40% as interest rates rise. More interest rate increases coming only means a worsening home market where prices that have risen so much as going to drop a great deal. ...how about if you have a variable loan on your mortgage. Guess what is going to double in the next year.
Used car market index dropped from 54.2 last year to 9.7% now ..an 80% drop !!
High gasoline pricers compared to last year.
Food prices skyrocketing.
Small businesses say it the worst outlook in many many decades. Some of the major retailers reported earnings with very negative forward outlooks. The administration is a hostile, regulatory, tax heavy over-reach.
Recession is still very probable in my opinion.
