🚨 BANK OF AMERICA OUTAGE LEAVES CUSTOMERS UNABLE TO ACCESS ACCOUNTS, SPARKS PANIC🚨
Bank of America customers experienced a major outage on Wednesday, with many unable to access their accounts or seeing $0 balances. The issue, reported on Downdetector, began around 12:45 pm ET. While the bank's app stated accounts were "temporarily unavailable," users flooded social media with concerns. Bank of America has yet to clarify the cause or confirm if funds were at risk. Source: Downdetector thru Mario Nawfal
Total US debt explodes to $35.7 trillion on Oct 1, up $345 billion from Sept 27.
Source: www.zerohedge.com
Michael Burry has had a sensational 2024 so far.
His fund is up 39%. Over the last 8 years he has also managed to provide returns of 345% compared to 110% for the S&P 500...! He only holds 10 companies. Source: @MMMTwealth
😱 The shocking chart of the day: US PUBLIC DEBT GROWTH HAS BEEN MASSIVE 😱
In 2008, the US federal debt was $9.4 trillion while the US GDP was $14.7T with the debt-to-GDP ratio at 64%. Now, the public debt is $35.7 TRILLION (Total US debt added another $345 billion between Sept 27 and October 1st...) and the US GDP is $29.0 TRILLION with the debt-to-GDP ratio at 122%... What is the pain thresold for the bond market ??? Source: Global Markets Investor, FRED
A soft landing of the US economy is our CORE scenario.
But we are well aware of the tail risk (hard landing and no landing). As a remainder, in 2007, Yellen talked about a soft landing 6 weeks before the recession began...
🔥US STOCK MARKET DOMINANCE KEEPS GROWING🔥
The American stock market accounts for nearly 50% of global market capitalization. It has reached a MASSIVE $55 trillion, or ~200% of US GDP, the most on record. This is almost TRIPLE the value of the Asian and European exchanges. Source: Global Markets Investor, The Daily Shot
The US Money Supply grew 2.2% over the last year, the biggest YoY increase since September 2022.
The return of money printing? Source: Charlie Bilello
US stocks recorded only small gains yesterday as investors were cold feet by weak consumer confidence numbers
*U.S. SEPTEMBER CB CONSUMER CONFIDENCE SINKS TO 103.0; EST. 105.5; PREV. 108.7 *THIS WAS THE LOWEST LEVEL SINCE MAY 2023 Source: www.investing.com
