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Shakeups In The Auto Industry, BOA & JP Morgan In Trouble And More In This Weeks Recap
The Daily Ninja 6/23/24
Updates From The Economic Ninja
(6/22/2024)
π "Do not buy a new car until you've watched this video."
π Most people start by shopping online for their car deal, so it's important to pay attention to the MSRP and any hidden bonuses.
π Customers are unaware of auto insider secrets that dealerships use to their advantage.
π Dealerships recoup money by not showing the buy rate and making 5% on the car, so it's best not to mention having a trade-in.
π If you're looking for a new car right now, you just saved no joke thousands of dollars from Andrew's information.
(6/22/2024)
πΈ Most people don't realize that banks print money out of thin air through the Federal Reserve by making loans, and there are ways to get amazing deals on those loans.
πΈ The banking failure in 2023 was larger than all of the great financial crisis combined, a big deal indeed.
π° The second wave of the banking crash may happen well before three years after 2023, and it could be much worse on a dollar scale and in power.
πΈ A company going down like Synaps, going into bankruptcy and collapsing, with hundreds of millions of dollars in deposits locked up, raises concerns about derivatives and side accounts.
π Regulators found fault with the way major banks plan to unwind their massive derivatives portfolio, raising concerns about their ability to handle potential financial crises.
π The banks are still too tied to toxic institutions that have made bad loans and decisions, putting them in a precarious position.
π¦ City group is in serious trouble, with the FDIC deeming their deficiency as more serious, making them a "Dead Man Walking."
π¨ Four out of the eight largest banks are facing catastrophe and need to unwind their derivatives books to avoid another Lehman Brothers situation.
Weekly Recap: The Economic Ninjaβs Top Stories
(6/21/2024)
π¦ Not every bank is going to be taking depositor funds during the upcoming banking crisis, so it's imperative to separate your risk amongst multiple banks.
πΈ Nearly 109 million in deposits held for fintech Yada Yoda's customers vanished in synapse collapse, raising concerns about the security of digital banking.
π¦ The coming banking collapse is going to be very serious and it is not going to need an application to really get all haywi the events leading up to the great financial crisis.
π¦ The banking system is in a bad state, with companies claiming bankruptcy and no real record of where the money went.
βοΈ Over 100m in deposits just vanished from bank accounts, leaving people with frozen funds and no answers.
π The greatest banking crisis since the Great Depression is looming and may surpass it in the next 12 months.
π Predictions about the banking crisis beginning in the first or second quarter of 2023 were made about two years ago and have been accurate.
π The looming economic downturn could lead to a significant increase in unemployment, causing panic and financial strain for many.
(6/21/2024)
πΈ We are in a world right now where we are seeing out of control inflation, the likes that we haven't seen since the 1970s.
π The high prices at McDonald's are causing customers to struggle, with one person having to put their purchase on a credit card because they didn't have enough cash.
π° The CEO of McDonald's admitted that the company has lost its standard customer base, from low to upper middle class.
π McDonald's president claims they heard their "fans" loud and clear, but in reality, people just want lower prices because it's getting too expensive.
πΈ The perception that McDonald's has become too expensive is being battled, with the government's role in printing money and causing prices to rise being highlighted.
π Elderly people are struggling with the rising cost of living, forcing them to dip into their savings just to make ends meet.
(6/20/2024)
πΈ The potential impact of countries moving away from using the US dollar for oil purchases could lead to a massive wave of inflation in the United States.
π The hyperinflation of commodities like copper and cocoa is just the beginning, and it's causing prices to skyrocket.
π Rising costs of goods due to inflation and supply chain issues are impacting consumers, including higher prices at Walmart and for products like Coca and Kit Kats.
π¬ The seriousness of the situation in Ukraine makes it difficult to joke about, as the conflict and geopolitical implications are significant.
π° The Ninja suggests investing in assets like gold, silver, and Bitcoin as a way to protect against the potential instability of the US financial system.
π The US macro surprise index plunged to early 2019 lows, indicating bad news for big Tech.
π The treasury department printing money in the form of bonds and buying long-dated bonds from failing banks is contributing to the collapse of the economy.
π₯ It's about all of us going after the ones that would want to do damage and harm to our children, our finances, and ultimately to our collective minds.
(6/19/2024)
πΈ REI's financial struggles may be due to their high prices, catering to higher income earners, and lack of affordability for the average shopper.
π The decision to lay off over 350 employees reflects the challenges of reshaping the company's cost structure in a volatile economic environment.
π Big retailers are seeing a massive shift in spending habits, with a focus on lower-priced goods due to people spending less money.
π REI is losing market share due to not adapting to the trend of lower cost items and dropping prices.
π€ REI's business model remains geared towards those with pricier passions, while Bass Pro Shops are adapting to the shifting economy.
Keep Crushing It!
-Ninja Out