"Dr Doom" Nouriel Rouvinsi is upbeat about the economy
Source: Fortune
BREAKING: Elon Musk will interview Donald Trump at 8pm ET tonight on X.
Ahead of the interview, the European Commission issued a letter to Elon Musk demanding that he CENSOR Donald Trump in their upcoming interview. They are even threatening him with "legal obligations" if he fails to stop the "disinformation"... They talk about "ensuring freedom of expression" and of "information being protected"... Source: www.zerohedge.com
Is the US regional bank crisis worsening?
Summit State Bank's Q2 Earnings Plummet. Q2 2024 Net Income: $928,000 Drops -67% from Q2 2023 Net Income $2,985,000. Earnings Decline: 69%. Stock Drop: -15%. $SSBI. Source: The Coastal Journal
On average with the 4-year cycle... the next few months are sideways at best...
Source: Grant Hawkridge
The view from Apollo: Still no signs of a recession in the US
Source: Apollo
US banks are facing $517 Billion of Unrealized Losses - nobody wants interest rate cuts more than them
Source: Barchart, BofA
American stock ownership is back at all-time highs
Source: Markets & Mayhem, Visual Capitalist
The rich are getting richer faster than ever before
The top 40% of US income earners hold 83% of the total net worth, near an all-time record. The top 20% account for 71% of the total net worth, up 10 percentage points over the last 2 decades. On the other hand, the bottom 40% of income households hold only 8% of the wealth. Moreover, the bottom 20% of earners reflect just 3% of total US wealth. Over the last few years, the rich have gotten a lot richer. Most consumers are struggling. Source: The Kobeissi Letter, BofA
