Keep pulling the thread on Peter Atwater.
Peter Atwater predicts that the growing despair among the lower economic class will ultimately lead to social unrest and protests.
Credit card delinquencies are projected to reach approximately 13% in the current month, a level considered historically high.
At JPMorgan, the bank now has more credit outstanding to its private banking clients than to its Main Street credit card holders, an inversion of the ratio from the 2008 financial crisis.
The economic divide between the top and bottom segments of the population is widening, with the top experiencing parabolic growth and the bottom facing a severe decline into despair.
According to a piece in The Atlantic, US households are currently feeling worse about their finances and the economy than they did during the great inflation of the 1970s.
Lower-income individuals perceive the AI boom as a zero-sum game, believing that the financial gains in AI stocks will ultimately come at the expense of their jobs and economic well-being.
The buy-now-pay-later company Affirm reports that its average American client is currently in a strong financial position.
Peter Atwater asserts that the election of a more populist mayor in New York City was a direct consequence of the widespread affordability crisis.
Recent consumer sentiment data shows a meaningful drop in confidence among Republicans for the first time in the current economic cycle.
Peter Atwater predicts that in the upcoming fall elections, political incumbents from both the left and right will be voted out of office.
The average interest rate on a credit card is over 20%, making it nearly impossible for individuals to pay off debt and achieve upward economic mobility.
Peter Atwater predicts that the public and political backlash against Artificial Intelligence will continue to grow.