Demand destruction goes on with a twist - a new one.
Americans are choosing not to pay their debts....
This of course transfers the loss to the banks as per >
JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Major Surge in Bad DebtDaily Hodl StaffSo, people are choosing to pay for food and basic car and accommodation within bankruptcy limits putting a base on demand. Many are homeless or living in their car as their base while doing this.
The banks will respond and change their credit criteria further eroding demand.
Trouble is already here but even the masses living in ignorance will become aware of same soon. Very soon.
Of course, it suits govts in power to provide an illusion of less trouble by shoring up the economic stats with immigration and calling part time work employed. Suggest you property moguls wise up to the actual reality.
