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Tuesday, August 6, 2024

Start of global stock market crash, of a recession

It is more fun criticizing

When USA sneezes, the whole world trembles:  Some weaknesses in US economy:

1.  Weakening of regional bank;   one regional bank to close every week
2.  Largest share of GDP is consumer spending.  70% of total GDP, and is financed by credit cards
3.  Apocalypse of commercial real estate;   about to crash
4.  Banks sitting on large portfolio of commercial loans;
5.  Weak residential market (repeat of 2008)
6.  Large number of unemployment.   Even top tier company:    Google, Tesla, Intel.