Matthew Spositi is an aspiring trader, Austrian Economic enthusiast, entrepreneur, and founder of New Millennium Wealth. My goal is to help individuals get out of the rat race and become financially free, by showing you every step of my journey, and by sharing all of the knowledge I have accumulated about trading, investing, markets, and economics over the past 5 years.
Episodes
Sunday Aug 16, 2020
Sunday Aug 16, 2020
Banks are tightening their belts by raising lending standards and restricting how much money you can borrow, if any, and are building their loan loss reserves as well.
This is the biggest red flag that the recession is about to take a deeper dive and may very well develop into an economic depression.
Understand, that for a long time now, the U.S. has been addicted to easy money (low interest rates, easy/loose lending standards) and for a time at least, a lot of that is ending.
So, what does this mean for you and the entire U.S. economy?
It means that the US of A is very similar to a heroine addict, constantly needing one hit after another in order to be seemingly stable.
But, like all addicts, the minute access to the drug dries up, the pain starts to set in, and before you know it, the addict is hitting rock bottom and may never truly recover.
This is the true state of America today.
We’ve been on this huge addiction to easy money for so long now that when it all dries up it will send a massive ripple through the economy (US and global) and will devastate millions of lives.
But there’s a way you can avoid all of this, listen to find out how.
Please remember to leave me a RATING/REVIEW on iTunes.
Today's Article Links:
https://www.mauldineconomics.com/frontlinethoughts/yellow-flag-jobs-data
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