The Savings Rate in the US has moved down to 2.3%, the 2nd lowest level on record with data going back to 1959 (lowest was 2.1% in July 2005).
Charting via @ycharts pic.twitter.com/fcxolzxU4y
— Charlie Bilello (@charliebilello) December 2, 2022
The Collapse: The Deflating of the Great Cash Cushion
It may be the most predictable recession in history. Economists expect the US economy to contract since at least April, shortly after the Federal Reserve began raising interest rates. But a bit like Judo, she has yet to appear. Trust the cash cushion to American consumers and businesses built during the pandemic. But that will eventually go away, and then the economy will collapse.
Blackstone REIT Restriction a Possible Warning Sign for Markets
While there has been little wider fallout from this week’s surge in redemption requests at an unlisted Blackstone real estate income trust (REIT), it is being read by some as a warning sign.
Credit Fund Outflows in 2022 Unwind Last Year’s Inflows: BofA
Investors have withdrawn $316 billion from credit funds this year, unwinding all of the previous year’s inflows, BofA Global Research said in a note on Friday.
Another Strong Jobs Report? It’s Phooey, and I Can Prove It
Amazon layoffs now expected to mount to 20,000, including top managers
Roubini Warns “The Mother Of All Economic Crises Looms”
Global GDP growth rates
h/t Boo_Randy
