July 27, 2023

America's Economic Death Spiral

Nikki Grace

The heavy bets are on the Fed raising rates again today. Treasury inversion continues unabated after small reprieve.

My prognostication ....second round of racing inflation starting in second quarter and just in time to go with the vicious recession starting in 1st quarter of 2024.

The hinky jobs numbers. This is a white collar layoff, therefore they are not immediately going on the unemployment rolls. They are burning through their severance pay and savings, then it will be selling the house and moving to cheaper digs in cheaper areas. This is taking a while.

Also it is going to be close to a decade, at least before we see any light in this. Hard sledding. So prepare to survive it.

The government spending continues apace, Yellen may not be able to get another buy from the Chinese. The debt ceiling has become meaningless, but who will be the buyers? If she forces the debt into American institutions, that takes dollars away from the domestic market and means a very mean jobs recession. Powell has completely changed the landscape, getting rid of London Libor and breaking free from Europe. Yellen is an EU and WEF advocate. Powell has never respected Yellen. The bankers and the FED have no interest of backing up Yellen and this administration and they want free from Europe and their dreams of recovering world dominance using the USA to advance their agenda.

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