Weekly wages (incomes) adjusted for inflation are falling of a cliff
This will hit demand harder than any interest rate hikes pic.twitter.com/wTmndzUsRv
— Andreas Steno Larsen (@AndreasSteno) July 26, 2022
The pandemic era was the biggest money transfer scheme to the rich in history. And we are paying for it again with the cost of living crisis. It’s like a giant Ponzi scheme. And still millions of people appear to be either in denial or meekly accepting this gigantic swindle. pic.twitter.com/4jprXSHdRY
— James Melville 🚜 (@JamesMelville) July 25, 2022
https://twitter.com/WallStreetSilv/status/1552028213945286658
My brother, a former accountant, keeps track of everything. Year-over-year his food bill is up 41%.
— Dave Collum (@DavidBCollum) July 26, 2022
Current situation:
1. Median home price down 9.5% last month
2. U.S. credit card debt near $1 trillion
3. Interest rates rising at fastest pace in history
4. 60% of Americans unable to keep up with inflation
5. Mortgage demand at 22-year low
The bubble is finally bursting.
— The Kobeissi Letter (@KobeissiLetter) July 26, 2022
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