Turn on the News
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From worst to best:
Consumers Are Financing Their Groceries. What Does It Say About the Economy?
"Nearly a quarter of consumers using buy now, pay later loans finance groceries, up from 14 percent a year ago, according to a recent LendingTree survey. And it’s not just groceries; more Americans are using these loans to pay for recurring monthly bills, such as electricity, heat, internet and streaming services like Hulu."
What's it say? Nothing good.
Two big reasons never discussed on how we got here. First, Larry Fink of Black Rock writes satire,
"The first step? Helping more people become investors. This is the deeper shift I’m seeing in the economy. Governments are rethinking whom markets are for. For decades, they primarily served countries’ wealthiest citizens and largest institutions. Now, countries are democratising markets recognising that the same factory worker left behind by globalisation can be an investor, too."
Funny, funny stuff. With 11 trillion under their management, no doubt Black Rock will lead the charge. And most of ya think Trump's the biggest clown in the circus.
Secondly, going back to lessons lost from 2008, one big one, anytime someone's talking about "shadow banking" or Private Equity, the banks are firmly entrenched underneath:
Private credit could ‘amplify’ next financial crisis, study finds
"Private credit is now so intertwined with big banks and insurers that it could become a “locus of contagion” in the next financial crisis, a group of economists, bankers and US officials has warned."
I thought Obama, Dodd, and Frank took care of all this?
This is excellent and didn't get any coverage, a South African standing up to Trump in his gilded oval office after he slandered South Africa and its people at the behest of Elon the Boer or is it Bore. I always get confused, I suppose it's both.
Finally, despite all, life remains sublime. One of the eaglets in Big Bear fledged yesterday, the other soon to follow:
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