How it feels to miss the bottom?, page-64

Whilst no data out yet

expecting credit card transactions will be dropping off cliff and balances not being paid or reduced

imagine the exposure the banks have to the credit card companies? -

all those credit cards- many won’t be paying their balance down and it was a nice money earner but with risks to the sponsoring banks- all money for jam in good times but as we know- customers aren’t exactly flush with cash

Only a matter of time imo before government says no dividends etc- taxpayers are on the hook for suppressing 3 year rates via rba to help banks funding costs,

have handed out co guarantees for business loans to stave off immediate default etc etc

I still think it’s somewhat risky to be paying a big premium over boom value

holding up well here above 60 but it’s a wild futures and options expiry day

good luck