Today a confirmed state of U.S recession after the U.S retail figures. What lead to all these recession?
From my point since 2003 banking sector in U.S has been going through lots of reforms and a strong competition between Banks lead them to grant as much loan as possible without preoper credit risk analysis. Citi group anouncing a huge 7B loss, UBS loss to be out soon. The 10T U.S debt will add on to the on going consumer sentiments and it is likly to go on for couple of years.
Today all markets went down except Gold and Coffee futures. I am sure the reason is people need to keep themselves more awake hence drink lots and lots of coffee.
Any comments on markets welcome. Happy to discuss.
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