After reading this news story that half of Americans are skipping meals because of affordability and a bad economy, I have to ask how are you all doing out there?
I heard from a real estate agent friend of mine that REOs, i.e. bank foreclosures on home mortgages, are going up like crazy, which is a sign of bad times, like the recession of 2007-08.
I have heard from others about rents not being paid, lack of jobs, etc.
Every day, there’s more news of corporate layoffs, moreso than usual.
I live in the economic bubble of the SF Bay Area, where tech wealth more-or-less insulates me and mine from the most serious consequences of a bad economy, but how are things elsewhere?
Good news! The Wall Street types have started using this brand new, never-been-used-before thing called a credit default swap to hedge their bets against AI companies. Good thing none of those words have ever been used before in the financial industry or associated with any financial collapses.