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[–]magnora7[S] 10 insightful - 3 fun10 insightful - 2 fun11 insightful - 3 fun -  (2 children)

People are borrowing against the most expensive form of debt they have, not a good sign. People are running out of money and getting desperate, it seems. Looks very similar to the lead up to the 2008-09 financial crisis

[–]Alphix 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Except this time the commercial real estate sector is also in dire straits, due to companies downsizing their total area occupied.

[–]magnora7[S] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

Yes I saw something about a $1.5 trillion debt wave coming due on commercial real estate.

I heard McDonalds just sold their headquarters buildings and lowered their minimum wage. There's a lot of businesses having to downsize now with money being so hard to get thanks to federal reserve rate raises (which they need to do to curb the inflation they created during covid and due to the ongoing petrodollar collapse)