"Truth above all, though the heavens may fall!" -- Michael Rivero

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Homebuyer Conditions Index: The homebuyer conditions index has declined to an all-time low in June 2024, reaching 27 points. This index reflects consumer sentiment regarding homebuying conditions. Only 14% of consumers currently believe it’s a good time to buy a home, down from 20% last month1. Affordability concerns are a major factor contributing to this decline.

(SQAUK) — The U.S. economy, once a beacon of stability and growth, is now in the throes of an unprecedented crisis under the Biden administration. Detractors argue that a series of policies has triggered a severe economic downturn marked by a surge in bankruptcies, rampant inflation, and widespread financial distress.

The current economy is putting many businesses on the brink, and Costco is no exception. Execs seem deeply worried about the company's performance in recent months because sales have been weakening all across the board. Even though buying in bulk can save consumers’ money down the line, for many, shopping in big quantities isn't making financial sense anymore.
When Nvda bubble crashes it will resemble the 2008 crash alexmark
Nvda market cap of $3.2T 2008 crash led to losses of $2T.
Social Security insolvency expected by 2035; retirees may get 83% benefits without action; 48% of Gen Xers feel unprepared for retirement alexmark
The clock is ticking on America’s most crucial safety nets. New projections reveal that the Social Security trust fund is now expected to become insolvent by 2035, just a year later than previously estimated. This brief reprieve hardly offers comfort when the stakes are so high. After 2035, retirees will face a stark reality: receiving only 83% of their full benefits unless Congress intervenes to address the shortfall.
US big banks face growing risks from non-banks aka private credit. alexmark
Non-bank financial institutions are increasingly posing risks to America’s big banks, according to a post on the New York Fed’s Liberty Street Economics blog. During times of heightened market-wide stress, non-banks seek term loans and lines of credit, putting pressure on banks to provide liquidity.
Inflation strains middle-class Americans: 72% struggle with costs, 74% can't save. alexmark
The impact of inflation has been particularly challenging for middle-class Americans. As prices surged, their income growth failed to keep pace, resulting in a strain on their ability to maintain their desired lifestyle. In fact, 72% of middle-income families now report that their earnings are falling behind the cost of living, up from 68% a year ago.
The Spread Between New and Existing Home Prices is at Record High of Approximately $68,000 alexmark
Essentially the existing v. new home market has never been this inverted, and typically it will always revert back to its mean. There’s a million variables at play, but I imagine it would be like a used car costing much more than a new car, it’s just real estate is a slower and more illiquid market that allows crazy distortions to happen like this.

During an interview on Thursday’s broadcast of Fox News Channel’s ‘Your World,’ Treasury Secretary Janet Yellen said that the current interest on the national debt is at a ‘normal’ level.

President Joe Biden wants to reduce the deficit “and doing that would be compatible with making investments in the economy that are necessary to support its growth. But we’re going to have to let important pieces of the Tax Cut[s] and Job[s] Act expire.”