The Kobeissi Letter
@KobeissiLetter
The surge we are seeing in borrowing costs right now is not a coincidence.
Even as the US Treasury has attempted to intervene, yields just keep on rising.
Amid record deficit spending and 60-straight months of 2%+ inflation, the bond market can no longer ignore reality.
Asset
Even as the US Treasury has attempted to intervene, yields just keep on rising.
Amid record deficit spending and 60-straight months of 2%+ inflation, the bond market can no longer ignore reality.
Asset
The Kobeissi Letter@KobeissiLetter · Oct 3The middle class is gone.
According to Fed data, the top 1% of Americans now control ONE-THIRD of all US net worth.
Since 2020, the top 1% have gained +$30 TRILLION in net worth, while the bottom 50% are worth just $4.3 trillion.
What is happening? Let us explain.
(a thread)
According to Fed data, the top 1% of Americans now control ONE-THIRD of all US net worth.
Since 2020, the top 1% have gained +$30 TRILLION in net worth, while the bottom 50% are worth just $4.3 trillion.
What is happening? Let us explain.
(a thread)
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