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Turns Out... Inflation Was Transitory | Weekly Round Up

Supply Shock

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Do You Know What's Happening to Consumer Credit?

Total consumer credit is now above pre-COVID levels. Household excess savings, which is the buffer that households typically build up and there's a fear of recession, has gone. Banks are charging more on credit cards than they have at least going back to 1996. The banks will actually manipulate how the, the, the deposits and the withdrawals come in to maximize the overdraft.

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