The US Economy Now Has:

1. 63 banks on the brink of default according to the FDIC

2. Over $500 BILLION of paper losses held by banks

3. Declining GDP growth with rising inflation

4. Over 50% of Americans believe we are in a recession

5. Lowest mortgage demand in over 30…

— The Kobeissi Letter (@KobeissiLetter) June 4, 2024