THE REAL BIDEN ECONOMY.........
* This year, for the first time in history, auto loan rejections have outpaced applications.
* Consumer credit card debt is at an all time high
* High net worth investors with more than a $1M have their highest allocation into cash
* More Americans are working two full time jobs than at any time in history
* The Leading Economic Index declined in June for the 15th month in a row, the longest down streak
since 2007-08.
* Existing home sales are at the lowest level in 10 years
* Household’s net worth is sharply contracting, the last two times this happened a recession followed
* US Federal Tax receipts fell 7% over the last year, the largest YoY decline since June 2020
* The Yield Curve Is Now In The Deepest Inversion Since 1981
* Property values could decline by $800 billion across nine major U.S. cities over the next seven years,
per McKinsey Global Institute.
