Source. Click image above for full image.When I start to see numbers like this - all I can see is the trickle down part. When people feel less wealthy - even if it's paper wealth - they retrench and stop spending. Home improvement is going to get hit. And everything down the line. It really creates an ugly feedback loop. Hopefully it will moderate before job loss comes.
Since this has really been snowballing since April of last year, I think there is ZERO percent chance that this isn't already affecting spending at all levels. This is why housing recessions almost always filter out to the greater economy.
I have almost posted about Deutsch Bank a dozen times. What is with that LOGO? Logos matter.
ReplyDeleteEvery time I see it I think /rm -rf. Because that is essentially what is happening.
Various possibly accurate interpretations of the Deutsche Bank logo:
ReplyDelete1. We're your ladder on the way up (even if we keep you from getting out);
2. We keep you (on the left) protected from you (on the right), both of which we keep boxed in (for your own "protection");
3. As above, so below ... but don't forget we're in charge (and you can't get out).
Cynicism tells me that it's number 3.
I have to hand it to the designer who slipped that one in ...
Actually, Deutsche Bank doesn't even have the most evil looking logo for a bank.
That (dis)hono(u)r goes to Royal Bank of Canada which has a logo that looks like a menacing lion squeezing the globe between its paws, and since 2017 it's part of the global network of Banks Too Big To Fail.
RBC literally wants everyone to know that if you do business with them, they totally own you ...
Again, I have to hand it to the designer who slipped that one in as well.
I don't know. It's a hard toss up. Bank 1 - we are going to strangle the life out of you. Bank 2 - we are just going to delete EVERYTHING.
ReplyDelete