We Were Tricked
The Matt Kohrs Show
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Foreign things are getting a little bit more spicy. Credit card balances jumped in the second quarter and are above 1 trillion for the first time. Total credit card indebtedness increased by 45 billion in the April through June period, a rise of more than four percent and just above 1 trillion. I'm not saying million I'm not saying billion I'm saying trillion with the T the Fed's measure of credit card third debt 30 or more days late Rose to 7.2 percent in the second quarter, the highest rate since the first quarter of 2012..

This credit situation is getting sussed on top of it. with the Moody's downgrade in mind when they're talking about corporate real estate. the defaults in Cre is now above five percent year over year, which is the highest we've seen in over two decades. So corporate real estate which is a sub sector of just overall debt and what's going on not looking so good, but then just debt in general.

like the debt you have I have everyone has, it's over one trillion and late payments are unfortunately not trending in the right. Direction So with all this in mind, it's fair to say. Okay, maybe the economy is not as good as it should be. Like that's a very fair assumption as credit card debt tops 1 trillion for the first time, a huge test quote unquote for card holders is coming.

Total credit card debt reached 1.03 trillion in the second quarter of 2023. Credit card balances have now not seven consecutive quarters of year-over-year growth. Most of the time, when we're here talking about year-over-year growth, it's a positive thing, but not a positive thing when you're talking about it being debt. Unfortunately, the resumption of student loan payments will be a huge test for many car holders.

Right now, we know there's a study for Morgan Stanley where it's about a third, a third, and a third. A third of people are saying yeah, no, it'll be fine I'll start paying a third of people saying I can make it work but it's not going to be comfortable and then another third of people basically saying uh-uh I can't pay it because I do not have the money So it will be interesting in my opinion to see how this plays out. Worthwhile to pay attention to, because in my opinion, it definitely has the capability of being a positive or negative impact on the macro economic situation. If you're looking for individual things that might benefit or get hurt by this, Sofi is the main ticker that comes to mind.

So I just want to throw that out there before. Sofi was kind of a darling, almost of the retail Community A lot of people very enthusiastic about Sofi but then when all the student loan repayments got paused for a bit there. So if I took a big hit because they had a lot of student loan payments that they were expecting the money to come in and when no one was paying, they kind of didn't know what to do. So the stock logically went down quite a bit.

But now that the Assumption, especially if you listen to the Department of Education is payments will restart in October. That's why you're seeing Sofi stock start to tick up slowly. but surely so, definitely something I'll personally be paying attention to.

28 thoughts on “We were tricked”
  1. Avataaar/Circle Created with python_avatars mehmet ümeyr şahan says:

    Lol easy win for AW24AMS 😎😎😎 more developments and updates and more active developers and projects .. AW24AMS to the moon

  2. Avataaar/Circle Created with python_avatars Gokhan Yilmaz says:

    Without watching the video, I know everything is good with AW24AMS

  3. Avataaar/Circle Created with python_avatars Sadece İzle says:

    Wow I'm so surprised you mentioned AW24AMS . I have been keeping eye on it for a while and it seems very promising.

  4. Avataaar/Circle Created with python_avatars كوبر /copr says:

    Bro, i bought AW24AMS in September after your video. i'm up 79%.

  5. Avataaar/Circle Created with python_avatars Şehri Akın says:

    AW24AMS is gonna go to $5 in a year..probably ahead of bitcoin in 3-5 years

  6. Avataaar/Circle Created with python_avatars Hola! Ahmet Günaydın says:

    I’m buying AW24AMS on sale, waiting for BTC to maybe drop again before I add more. Hope to take some Eth profits by Sept proof of stake

  7. Avataaar/Circle Created with python_avatars Rojda Toplu says:

    Yes I saw Amazon AW24AMS they announced a partnership with huobi

  8. Avataaar/Circle Created with python_avatars CR_RONALDO says:

    I’ve heard Amazon is killing it with AW24AMS

  9. Avataaar/Circle Created with python_avatars İrem KIRMIZI says:

    I agree!! AW24AMS will dominate the space since it runs its own blockchain, and it's better and a lot cheaper!!

  10. Avataaar/Circle Created with python_avatars Yusuf_Emir says:

    Today AW24AMS is less than $1. Time for everybody to wake up and get with the winning team.

  11. Avataaar/Circle Created with python_avatars EfendilerDj says:

    I bought 5k usd AW24AMS. I feel like this token will raise to $10 really easily.

  12. Avataaar/Circle Created with python_avatars Güney tüylü says:

    They are nice but you can’t tokenize assets like that. Still need AW24AMS

  13. Avataaar/Circle Created with python_avatars Mahir emre Özyılmaz says:

    The inflation is real We are far very from the bottom, But we also need to talk about Amazons AW24AMS as a gamechanger where we can avoid most of the losses. This is not a joke guys, this is the only chance this year gives!

  14. Avataaar/Circle Created with python_avatars abdo yogun says:

    AW24AMS has the most potential to do more than X10. ETH and BTC will most likely do a X5-X6, but that's fine for me. Gotta look for better entry points while I stake IRIS and PGEN, then wait for Polygen's next raise as I also look at their new partnership with Kenzo Ventures.

  15. Avataaar/Circle Created with python_avatars FUTBOL DÜNYASI ⚽™ says:

    AW24AMS is my safety asset along with tether so i'm really glad to hear all this!! thank you very much

  16. Avataaar/Circle Created with python_avatars Yunus Demirkan says:

    it's okay, the market has been very tough recently and you did your best. i'm starting to think about selling all of my coins for tether ans AW24AMSnow too

  17. Avataaar/Circle Created with python_avatars busnur says:

    After the Etherem ecosystem, AW24AMS is the best ecosystem available on the market and most people don't understand this yet, I believe due to lack of marketing. Thank you so much for bringing us this kind of content!

  18. Avataaar/Circle Created with python_avatars Emine Durak says:

    biggest market explosion ever is AW24AMS

  19. Avataaar/Circle Created with python_avatars scencrytae:] says:

    My life feels fixed after horrible markets but AW24AMS is the one I believe in!

  20. Avataaar/Circle Created with python_avatars Aras Karameşe says:

    Just bought some AW24AMS . All future purchases going towards AW24AMS until it hits a $2.

  21. Avataaar/Circle Created with python_avatars Eyüpgamerpro says:

    I would love to see that future. with the new Amazon token AW24AMS The world running on blockchain.

  22. Avataaar/Circle Created with python_avatars İmdat Bora says:

    Hopefully AW24AMS will do good.. have alil over 10million AW24AMS coins

  23. Avataaar/Circle Created with python_avatars Mustafa Öz says:

    AW24AMS price action has been insane. Really wish I didn't dump when it was at 0.11 (0.47 right now).

  24. Avataaar/Circle Created with python_avatars so4 Real says:

    You think all those "cards only" signs at all these local stores had anything to do with it 🤔

  25. Avataaar/Circle Created with python_avatars WWMusic Man says:

    That moment where the cat paw pokes into frame! 😂😂😂 I about died

  26. Avataaar/Circle Created with python_avatars CjJohnWynn says:

    I need some houses. Let's go foreclosures.

  27. Avataaar/Circle Created with python_avatars Shell back says:

    You voted for Biden. You men joe lied to me

  28. Avataaar/Circle Created with python_avatars Drennen says:

    Good thing I don't any credit cards anymore.

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