All right, let's dive into it. So let's talk about the economy. So some disturbing new economic

numbers out today show how we may be facing the worst economic crisis since the Great Recession.

A couple of key data points that we want to talk about. The first and probably the most important

data point is out this afternoon. It relates to consumer spending. People are just not spending

money because they don't have money and the money

they do have is worth less than it was a year ago. So that's not good. Here's zero hedge this

afternoon showing just how bad it's getting for consumers who are just tapping out, saying

enough is enough. I can't afford anything right now. The consumer is tapping out. Ever since

inflation enter the financial system in early 2021, there has been a debate as to whether or when

the higher cost of living would hit consumer spending to the point of inducing a recession.

Sure, consumers can rely on savings or credit to make ends meet in the near term. However, if

inflation remains elevated for a long

prolonged period, eventually becomes too much to bear and the consumer is forced to tap out

and cut discretionary expenses, that's when a recession hits. So people are tapping out.

Yes. And we say this right ahead of the holiday season.

And when you look at last week, we saw so many third quarter reports of all of the major companies.

None of them were stellar.

And so a lot of these companies are really banking on a big Q4.

And it looks like they may not get it.

And they've already warned us that layoffs are

coming which means those could be exacerbated by this news.

Yeah, it's crazy.

...