It is the 16th of February 2020


Guest Post: 2016 - Year Of The 'Epocalypse'

Some thoughts on what lies ahead while President Obama jawbones... (grab a glass of wine or bottle)

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Auto Sales Are About To Choke: Increase In Non-Revolving Credit Is Smallest In 4 Years

Moments ago, the Fed released the latest, November, consumer credit data: it was not good. Rising by just $13.95 trillion, it was a big miss to the $18.5 trillion expected, and below the $15.6 billion downward revised increase in October. In fact, three months after the historic surge in September to the highest print in the revised series, total consumer credit has tumbled to the lowest since January.

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Another Bubble Pops: Used Boeing 777 Sells For 97% Off List Price

While the US economy may have unofficially entered an industrial recession in recent months with the dip in the manufacturing ISM below the critical 50 level, one sector has continued to do surprisingly well: automotive manufacturing, as a result of vibrant car sales. The reason for this, as we have repeatedly demonstrated, has been the record surge in auto loans, which have long surpassed both total credit card debt (and the $1 trillion mark), and continue to fund an unprecedented auto buying spree as they rush to catch up to the $1.2 trillion in total student loans.

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