The soft landing narrative is bullshit

The soft landing narrative is bullshit:

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The soft landing narrative is bullshit.

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For the last year, I’ve heard this headline over and over again.

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It’s a soft landing.

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The US won’t go into recession.

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Powell is gonna land the plane that is the US economy.

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AI is changing the world so that’s why the top 7 companies have gained trillions of dollars in value in 2023.

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Stocks can only go up.

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We are going through another growth story

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There’s still higher upside in the market.

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All bullshit.

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All lies.

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All deceit and misdirection.

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Smart investors know.

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The rich know.

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Economists know.

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Financial historians know.

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We are screwed.

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Markets globally are screwed.

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China recently injected billions into the market.

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Their real estate companies are bankrupt.

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Europe is in a recession.

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A hot war is still going on with Russia and Ukraine.

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Oil prices are rising. 

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The US has drained the SPR by hundreds of millions of barrels and we’re at the same prices we were a few months back.

Deglobalization is occurring.

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Protectionism is happening.

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Populism is rising.

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BRICS countries are discussing new forms of trade.

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Countries are transacting away from the US dollar.

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US Banks have failed.

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The Fed is running QE via the BTFP.

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They are giving liquidity to the banks.

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They are valuing defunct bonds at par.

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Mortgage rates are at 7% but housing prices haven’t fallen.

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Everything is more expensive.

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Credit card payments are going up.

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Mortgage payments are going up.

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Debt payments are going up.

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Food is going up.

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Gas is going up.

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Shipping routes like the Panama Canal are slowing down. 

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Workers are striking globally.

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A trillion plus worth of commercial real estate has to get re-financed in the next year.

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They were at financed at zero percent rates.

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Now they’re north of 5%.

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Who owns commercial real estate debt?

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US banks.

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America is 33 trillion in debt.

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33 TRILLION.

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THEY HAVE TO REFINANCE THAT DEBT IN THE NEXT FEW YEARS AT 5% RATES.

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They’re in a death debt trap with no way out.

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Print and inflation gets out of control, people can’t afford to live and revolutions happen.

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Or keep rates at 5% and watch as you can barely afford your interest payments, asset values get crushed and companies fail.

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Well shit.

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Didn’t even talk about how polarized we are as a society.

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How bad the wealth gap is.

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How climate change is ruining our future and wreaking havoc globally.

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And how much Gamestop has been nakedly shorted by the largest hedge funds in the world who are about to go under and show the world how bad they really screwed up.

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There ain’t gonna be no soft landing.

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America is on an A380 headed for the ground.

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We’re crashing.

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Hope we make it alive.

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