What the dollar losing reserve status portends - Ep 597
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Bond King Message: Jeffrey Gundlach , CEO of DoubleLine, That's the gloomy outlook Jeffrey Gundlach , CEO of DoubleLine, delivered to CNBC CNBC Interview Monday April 27 on Monday as the stock market staged a strong rally in the face of what he believes is too much optimism. "People don't understand the magnitude of... social unease... that's going to happen," Gundlach explained. "We've lost every single job that we created since the bottom in 2009." With that in mind, he revealed that he just shorted the S&P at 2,863.
Watch the US Debt Clock. The REVENUE is Running BACKWARDS! Click Here for LIVE Data Is this Good? What does it Mean to have Revenues running Backwards? Why? Note that Consumer Spending makes up over 70% of the GDP. This chart is showing the results of having US citizens sheltering in Place. The fact that consumer debt is at an ALL-TIME HIGH. Consumers are tapped out on too much credit card and mortgage expenses relative to their incomes. Many US consumers, over 10 million and climbing have lost their jobs as a consequence of protections from the COVID19 virus pandemic.Note as a result of 2008 recession unemployment jumped to 10%. Todays unemployment is expected to jump to 30%! Most "non-essential" retail/service stores are closed. Use of travel in all forms: auto, bus, train, airlines has dropped more than 50%. Many destinations in US and Worldwide that depend on tourist traffic are deserted. Gasoline use and traf...