Because there has been so much Quantitative Easing, previously known as counterfeiting, the real base has been distorted, everything looks better than it is.
The 'Velocity of Money' would have tanked without the counterfeiting, call it what it is.
My concern is that we'll see a full-on crash that triggers contagion in the banking system.
"U.S. credit-card debt reached a record $1.2 trillion in the fourth quarter of 2024, now comprising about 6 percent of America's total $18 trillion of debt, according to the Federal Reserve Bank of New York. Its report shows levels of serious delinquency—defined as late payments of more than 90 days—edged up in the quarter, and are now over double the levels in early 2022."
If that statistic doesn't chill you to the bone, you're not paying attention
Great blog, well done.
Because there has been so much Quantitative Easing, previously known as counterfeiting, the real base has been distorted, everything looks better than it is.
The 'Velocity of Money' would have tanked without the counterfeiting, call it what it is.
My concern is that we'll see a full-on crash that triggers contagion in the banking system.
"U.S. credit-card debt reached a record $1.2 trillion in the fourth quarter of 2024, now comprising about 6 percent of America's total $18 trillion of debt, according to the Federal Reserve Bank of New York. Its report shows levels of serious delinquency—defined as late payments of more than 90 days—edged up in the quarter, and are now over double the levels in early 2022."
If that statistic doesn't chill you to the bone, you're not paying attention
https://kevinhester.live/2023/03/14/financial-system-supply-chain-cross-contagion-a-study-in-global-systemic-collapse/