Posted on 08/19/2023 10:05:49 AM PDT by Kaiser8408a
US personal savings are being exhausted as The Fed raises rates to fight inflation. I call this phenomenon “low riding” where consumers are being punished by The Federal Reserve and Biden Administration.
Meanwhile, large bank loan volumes are shrinking. With money-market fund assets hitting new highs, and banks’ usage of The Fed’s emergency funds facility at record highs, we wonder how much longer The Fed can keep the dream of rising deposits alive (after last week’s massive NSA inflows).
On a seasonally-adjusted basis, The Fed says that total deposits dropped $11BN last week (the first decline in 4 weeks). We also note that the prior week’s inflow was revised higher…
(Excerpt) Read more at confoundedinterest.net ...
We are screwed. And this doesn’t account for the >$180 TRILLION in unpayable debt & liabilities.
American society is crumbling and our living standards are going to plummet.
Luckily our CC debt is at an all time high…
Current 3 and 6 mo. Treasury Bills pay better than a bank account.
Of course T-Bills don’t come with FDIC insurance.
There was an article the other day which really came right out and declared that the economy right now is very strong. It’s so strong, the article said, that people are dipping into their savings at a high rate. That’s when you know people are feeling flush with cash, apparently.
Long but insightful!!
THAT SAID, IF THE FIRST 10 MINUTES DON’T PISS YOU OFF, SEE IF YOU CAN STILL FOG A MIRROR. IF YOU CAN, SHARE THIS EVERYWHERE BECAUSE KLAUS AND THE BOYS ARE DUE TO LAUNCH COVID-20 (OR WHATEVERTHEHELL THEY CALL IT).
FAUCI’S REMDESIVIR POPS UP AROUND 20 MINUTES IN!!
https://rumble.com/v36uula-medicine-failed-us-nurse-gail-mccrae.html
Enjoy it while you can. Actually things are pretty reasonable and manageable right now compared to where it’s heading.
It takes a while for a ‘Titanic’ to sink so we still have some time and all should get prepared. This means spending at the same level or less and saving more which is difficult given inflation. Prepping even at a modest level is better than nothing.
Canadian Prepper is an interesting channel. Drama with some humor but his points are valid and the pain is coming. He has Lynette Zang on this one. Yeah she hawks gold but her points are worth considering.
https://www.youtube.com/watch?v=CbQ_vYfPhkM
Once the ship has taken on enough water she goes down quick.
Same thing is going to happen i am afraid
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