🇺🇸 Half of young adults are living with their parents because nothing else is affordable anymore.
George Gammon says an entire generation locked out of the thing every generation before them took for granted cannot hold indefinitely, because people will put up with a lot of rules and paperwork and inconvenience before they snap.
What they won’t put up with is not affording rent or groceries, which is where societies have historically come apart.
That’s the line, and we’re walking toward it.
@GeorgeGammon
Video
Mario Nawfal (@MarioNawfal)🇺🇸 The 10-year hit 5.05 percent and mortgages crossed 7 again, so a diesel export ban would hand Americans a second bill on top of the first
The rate jump came on strong PMI numbers, and George Gammon spent the day asking which part was growth and which part was inflation, because 6 percent nominal growth that is all price increases turns every car loan and mortgage into a tax.
His answer leans inflation, and the war explains why.
Long rates barely moved in February, when markets bet on a short shock and then on the MOU.
They started climbing the day the MOU died and have climbed with every week that passes without a deal.
The export ban is where he gets blunt.
Refiners can’t store what they can’t ship, so runs get cut, supply shrinks, and when the ban lifts the price jumps higher than where it started.
His image is a beach ball held underwater.
It always comes back up, and it comes up faster.
@GeorgeGammon
Video
— https://x.com/MarioNawfal/status/2102893988701151720
