At the Beginning of Credit Destruction Cycle
Greg Hunter – Former Wall Street money manager and financial analyst Ed Dowd of PhinanceTechnologies.com warned in September we were at the “Beginning of Panic Rate Cut Cycle.” Since that prediction, the Fed has cut interest rates three times. Looks like Dowd called it correctly. So, when does the panic kick in?
Dowd says, “The panic kicks in when there is some sort of banking wobble or stock market wobble, which is in the process of setting up. Private credit is the first to show problems. We had Tricolor Holdings (subprime auto lending bankruptcy) go poof. We had First Brands (bankruptcy) go poof. This is all private credit. Continue reading