by Kerry Lutz, Financial Survival Network:
John Rubino is back (on Substack). Stronger than expected jobs and inflation data will force the Fed to keep tightening for a while. Mortgage rates approaching 7% and home sales are collapsing. Prices normally follow sales down so housing is toast. Miami condo are potentially a danger spot in the hot Florida market. Recession is now a lock. Leading indicators way down, yield curve sharply inverted, money supply shrinking, credit card debt soaring. Not a single growth engine in sight. With 5% yields on short-term debt instruments and 2% yield on S&P stocks, why own stocks now? Many, many large bankruptcies are on the way. Carvana and Bed Bath and Beyond as well as numerous others. Gold and silver are down, but are still in danger if the economy tanks. 2008 all over again? Interesting uranium news. France is leading a coalition of European countries demanding that nuclear be counted as “green.” That will increase demand for uranium. The contrast between Trump’s and mayor Pete’s East Palestine visits it pretty funny. Global inflation, brutal in the UK.
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