Recession? Consumer Lenders: AX, AXP, ALLY, Barclays, COF, SOFI, SYF

September 3, 2024 | Premium Service | Just what happened to the great recession of 2024, as the BLS revises GDP up to 3% in Q2 2024? "Our recession indicators are flashing red," warned famed Toronto economist David Rosenberg on CNBC last week.

Our view of the credit markets says that those screaming about the risk of recession are, well, a bit early in the inflation/deflation cycle. Four years early, to be precise. Bank consumer loan default rates are falling for now three quarters. Are we really cutting interest rates? Will the FOMC really boost residential home prices another 20-30% to gun Wall Street profits? Yes they will.

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