Falling consumer sentiment.
Crushing inflation.
Declining real wages.
Savings are being drawn down rapidly.
Credit card usage is soaring.
Mortgage cash-out refinancing is not economical.
Fiscal stimulus is unlikely.https://t.co/8DeKrIaCZ1— Michael Lebowitz, CFA 🇺🇦 (@michaellebowitz) June 8, 2022
— Win Smart, CFA (@WinfieldSmart) June 8, 2022
GFC 2.0 just at higher base and higher rate of interest🤣🤣🤣
— Vik Soien (@VSoien) June 8, 2022
Tim Cook going full Jeff Immelt (think GE Capital) here and taking credit risk for the riskiest borrowers. Again, if you have to finance a pair of Air Pods, you can't afford a pair of Air Pods. https://t.co/uBYzR9Wx5B
— RJR Capital (@RJRCapital) June 8, 2022
This just keeps getting worse: Applications for mortgages to purchase a home dropped 7% for the week, and were down 21% from a year ago
Worst Tech stock collapse in 20 years…
h/t SilverBoatSurfer