The Kobeissi Letter
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On June 2nd, the debt ceiling “crisis” ended after Congress lifted the debt ceiling. At the time, total US debt was at $31.4 trillion. Now, US debt is at $32.7 trillion, up a mas...
Over the next year, a record $7.6 TRILLION of US debt is set to mature. In other words, 31% of all outstanding US government debt will mature over the next year. Previously, this...
Mortgage demand is now at its lowest level since 1995 and still falling SHARPLY. To put this in perspective, mortgage demand in 2005 was ~300% above current levels. Since 2021, m...
Existing home sales just fell 2.2% in July, putting existing sales down 16.6% over the last year. Now, existing homes sales are at their lowest since 2010. We are about to see ne...
The Fed just raised interest rates to their highest level since 2001. Last time interest rates were this high, the US had $6 trillion of debt. Today, the US holds roughly $31.5 t...
The US just published their budget deficit report and the numbers are alarming. US government spending "unexpectedly" soared 15% to $646 billion in June. More importantly, intere...
Interesting note by Goldman Sachs today: In the debt ceiling deal inflation adjusted spending actually RISES next year. This means the debt deal will not only push total US debt...
US national debt just hit a record $31.5 trillion, up over $8 trillion since 2020. Total federal debt per household is now $240,000. We now have a higher Debt/GDP ratio than post...
US Government Deficit/Surplus, by Year: - 1960: -$3 billion - 1970: -$3 billion - 1980: -$70 billion - 1985: -$210 billion - 1990: -$220 billion - 1995: -$160 billion - 2000: +$24...
A major problem has surfaced. $1.5+ trillion in commercial real estate debt will mature by 2025 while interest rates have skyrocketed. But, there's an even bigger problem, office...
Over the last 24 hours: 1. China encircles Taiwan with 71 fighter jets 2. China carries out “simulated precision strikes” on Taiwan 3. Taiwan goes on “high alert” 4. 20 ships i...
JUST IN: Corporate bankruptcy filings in the first 2 months of 2023 hit a 12 year high. 111 bankruptcies were filed in January and February alone. We are on track for the most ba...