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It seems like floor plans are something standard for your market. Floor plans on listings are not common in our market unless it’s new construction
He is a braggert (I'm not trying to stir the pot all over again here) and some things just do not add up to me about the things he says. Who cares really. I just decided to call him out.
There's already a recession: Biden's Economic Council suddenly changed the definition
Okay 1st and 2nd quarters of 2022 had negative GDP growth, but GDP has recovered after that.
TBTF banks don't really lend to each other nowadays (haven't since September 17, 2019)
Some people know the extent that the banks are simply lying on their quarterly financials
Misc says
Some people know the extent that the banks are simply lying on their quarterly financials
How does one know that every company is not lying on their earnings reports? No one is checking it, right? If someone/somebody is checking the numbers, how accurate are these checks? And the impacts of deliberately playing with numbers?
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Some mainstream economist crunched the figures and came up with a $620 billion dollar hit to the banks balance sheets if these were marked to market. That is if they needed to be sold.
We haven't even gotten to the fun part yet. That's when borrowers start to not pay back their loans because they ran out of money they could borrow on their credit lines. Credit spreads are widening especially for junk bonds. They are now over a 5% spread to treasuries. That means companies are borrowing at about a rate of 8-9%. Companies trying to roll-over their outstanding debt are gonna find that they just can't pencil in anything except for losses at these new rates. Credit is simply going to dry up for a large swath of corporations.
Good luck to all with your investments.
https://www.axios.com/2023/03/21/high-yield-bond-spreads-show-increasing-recession-jitters