'The Next Bankruptcy Wave is Just Starting'
Stansberry Investor Hour
The S&P 500's Earnings Decline
Consumer spending is already at a level. Last month, it didn't grow at all for the first time since the start of the pandemic. Interest rates are not going to go back down to 14%, they're 20%. What's that going to do to people's budgets? I mean, we're already seeing cracks appear in terms of rising delinquencies on auto loans. These trends are going to continue. You're going to see more bad debt right off with the big banks and credit card loans and auto loan, student loans. There's like trillions of this stuff outstanding with close to 300 billion, maybe rolling over in the coming 12 months.
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