Economist’s “News and Veiws” Monday 11-6-2023


Credit Card Companies Pump The Brakes On Lending, MAJOR Economic Meltdown

Atlantis Report:  11-6-2023

We’re experiencing a record surge in defaults, hitting the highest levels in 24 years. Presently, debt delinquencies are on the rise, surpassing 2019 levels. 43.5 million Americans have resumed paying their student loans in October.

What can we expect in the coming months? A probable increase in deficits across various sectors. With the upcoming holiday season and increased spending on gifts, people will rely more on credit cards.

 This will lead to a higher rate of defaults. If the companies struggle to collect fares, they will identify high risk individuals and their access. This trajectory will lead to what appears to be an impending credit crunch in the United States.

Economic Damage Is Done, But This Political Move Would Give Me Hope – Danielle DiMartino Booth

 Kitco News:  11-6-2023

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, who says that the U.S. is already in a recession and markets are ignoring the risk of a government shutdown next week.

DiMartino Booth also discusses the pitfalls of a dysfunctional Congress and reveals a political development that would give her hope in this election cycle.

00:00 – Intro

00:30 – The Fed is finished

02:55 – The damage has been done

 04:55 – When does the pain really hit the economy?

 06:19 – Looming gov’t shutdown & market reaction

 07:51 – Bankruptcies

 08:12 – Stock market exposure: ‘I owe exactly one stock’ in my personal portfolio

 10:00 – Portfolio positioning

 11:26 – Banking sector update

 13:33 – Political development + 2024 election

18:40 – Gold and silver