Hello, fellow rebel capitals, hope you're well.

So we've got big news in consumer debt.

You might be saying to yourself, okay, George, I know it's at all-time highs.

No, no, no, there's more to the story.

In fact, much more to the story that we're going to be getting into right now.

We're also going to be talking about how the labor market starting to get a little weaker.

We had the Challenger report come out today. You're going to definitely want to stay tuned for that.

And then what is happening with China? You guys all know that their economy is in collapse mode, for sure.

We're talking about GFC levels, types of collapse, but it's getting worse to a point today where their bond market is giving an unprecedented signal. What does this mean for not only China, but more importantly, for the global economy, including the United States.

Let's start by getting right over to that consumer debt that I was referring to.

And we've been talking about how it's hit all-time highs, but just recently, it's plunged.

So does this mean the economy is now getting much,

much better to where people don't have to put all their expenses on their credit

card?

Or are we getting to that tipping point that we have seen in past cycles where people just

have to wave the white flag?

And they're getting to a point where they can no longer put anything else on the credit

card.

They've maxed out.

They can't make their payments.

The delinquency is increasing.

And therefore, they have to actually cut back on the spending.

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