The US economy is beginning to implode as we continue to see volatility in markets in the final two months of the year.

November 5 (King World News) – Gregory Mannarino, writing for the Trends Journal:  It’s clear that the US economy is in trouble, that is obvious.

What is more concerning to me, is the pace of the slowdown/contraction…

Let’s break this down.

Rapid economic slowdown/contraction. How fast the economy is worsening?

Just below is a snapshot of what IS happening right now. (By their own numbers and metrics. The ones that they are allowing us to know).

Households. Discretionary spending is cracking. Delinquencies ticking higher EVERY month, charge-offs accelerating quarterly.

Jobs. Cuts accelerating. Hour reductions (weekly), hiring freezes, layoffs (monthly).

Banks. Rising charge-offs + **CRE (commercial real estate) refi wall. CRE getting harder to refinance and rollover debt. Banks relying more and more heavily on Fed support, new financing windows. MASSIVE ‘“unrealized losses” across the board.

**CRE (office/mall commercial real estate). Servicing/delinquencies climbing monthly, losses becoming realized moving from “unrealized” quarterly. Debt rollovers climbing, but getting harder to finance…

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Government funding. Treasury auctions weakening…no one wants to buy US debt. “Temporary facilities” appearing on demand, (Fed/Treasury). EXCESSIVE debt issuance with fewer and fewer natural buyers. The Fed and Treasury are left to buy it all. (Their grand plan realized). Debt and deficits skyrocketing.

Markets. Relying on headline pumps intraday/weekly. Fake news, propaganda, deceptions. Levitating ONLY on the prospect, and promise, of even more easy money.

Inflation rising. With no end in sight, rising costs of living, further currency devaluation, rate suppression, and vast debt expansion.

Fast fronts (what’s moving quickest)

  • Hours worked, (retail/leisure/services). Cuts getting deeper. Expect more.
  • Discretionary demand. Expect STEEP drops to worsen faster.
  • Card/auto 90-day delinquencies. Expect this to accelerate with increasing charge-offs.
  • Regional banks’ pain. Expect deposit flight. Expect failures and mergers.
  • CRE (office/mall). Expect loss severities to appear, unrealized losses becoming real losses. And when the MSM starts talking about it, it’s already too late.
  • Treasury funding stress. Expect weak auctions. Then “liquidity ops” appearing, (with the Fed, and Treasury increasing the purchases of the same debt they are issuing).
  • Market internals. Expect narrowing leadership. Less and less companies supporting the entire market.
  • Faster pace of rising inflation. There is not a single policy roadblock in place to stop it. In fact, every existing policy will exacerbate it from here… faster.

The sequence (how it cascades faster from here). DOOM LOOP.

Households pinch = retail traffic down = hours cut = vendor/freight/factory/manufacturing slowdown =

card/auto delinquencies rise = bank charge-offs up = regional bank asset sales/M&A/failures = CRE cracks widen = policy patches (fake liquidity) = brief relief rallies = repeat.

“How fast” by the clock.

The deterioration is visible… although the MSM/politicians/central bank are trying desperately to cover it up.

What is happening is undeniable. But expect that politicians/the media/the Fed will try every trick in the book, and then some, in an attempt to convince you that what you are seeing is not real.

Expect MASSIVE and expanding propaganda ops, and extreme deception campaigns to develop and evolve… aimed directly at you on a massive scale.

Be ready for it.

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