Author: Steve Tee

There is no good news that can be said right now. Everything is loom and gloom because it is what it is. Janet Yellen is the only person that is not anticipating an economic downturn and still believes that the US and global economies are recovering and doing well, as reported by Bloomberg. How delusional is she? Well, she (and Powell) is after all, a politician and taking-orders from higher authorities. IMF is coming into the picture now and sounding the alarm bell of heightened risk of recession, with global growth slowdown, reported by Yahoo Finance. Before IMF, BofA (Bank of America) yesterday states that Q2 of 2023 will be economic contraction, according to Reuters. Today BofA was reported by Yahoo Finance stating that, their clients withdraw US$2.3B from US stocks of all sizes! BofA clients are cashing out now and these withdrawals are certainly made by top VIPs that has insider information. They know what’s coming and while S&P500 is still high up now, they are heading for the exit first!

And look at this chart. MBS are being dumped by banks because they are deemed worthless now. I have written in the previous article about Commercial Real Estate (CRE) being the next in line to drop the shoe, there I highlighted several key reasons why CRE will get smashed bad in 2023. This is not breaking news. Blackstone already defaulted in their REITs bonds and blocking investor withdrawals since Jan 2023. Get ready dear readers. If the exit doors are still open, take action. Hedge your position in gold / silver. Stay liquid and reduce exposure in the markets. Nowhere is safe now, to be honest.