Americans are holding more household debt than ever before as one of the biggest banks in the country warns of a weakening US consumer. According to a report from the New York Fed, US credit card debt just hit $1.14 trillion. On the whole, Americans have more student loan, mortgage, credit card and home equity […]
The post US Credit Card Debt Soars To $1,140,000,000,000 As Bank of America CEO Issues Warning on ‘Depleting’ American Consumer appeared first on The Daily Hodl.
Famed “Big Short” investor Michael Burry tweeted Thursday, telling his 1.4 million followers, “I was wrong to say sell.” The tweet follows Burry’s warning for months that the U.S. was headed for an “extended multi-year recession” and his decision to dump all of his stocks but one in August 2022. Burry: ‘I Was Wrong to […]
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of a looming consumer recession and more earnings trouble. He cited falling U.S. personal savings and record-setting revolving credit card debt despite trillions of dollars in stimulus money. Michael Burry’s Recession Warning Famous investor and founder of investment firm Scion Asset […]