A debt-powered economy
Jun 17, 2022
This is not oil, a meme stock or even a shitcoin. It’s the average monthly mortgage payment in America up 50% pic.twitter.com/KstQHgjXBw
— Genevieve Roch-Decter, CFA (@GRDecter) June 16, 2022
Airlines, hotels, restaurants, and car companies are going to suffer in the following quarters. When people are squeezed to the point where a giant proportion of their incomes is going to rent, mortgage, and food, then they don't have any money left for weekend trips, vacations or new cars.
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