sh*t! this is really Bad... Economic Collapse is HAPPENING | Great Reset

oh my gosh I think the banks are

blatantly lying to us about the data

that they just reported in their

financial releases about the state of

the economy and it could mean the

economy is actually on much more of a

Brink than they're letting on this is

really bad and ordinarily I would think

I don't know maybe I'm just reading into

this too much but then I come across as

I'm doing this research I come across a

headline from 34 minutes ago Jamie

Diamond finishes up his 1 million share

sale of JP Morgan shares so 1 million

shares that's like $180

million and then I'm like okay well

that's fine maybe he's just taken some

tendies right I'm sure he's done that

before wrong this is actually the first

time that he sold since be since joining

the bank 20 years ago he has not sold

any shares in his history instead now in

February he selling 820,000 shares and

he just sold another

180,000

shares oh man what's happening well in

this video I'm going to break down

exactly what I think is happening

because at first don't get me wrong I go

into this I'm like come on come on we've

got GDP that's like 2.6% according to

the Atlanta fed job numbers are coming

in good things are looking Okay Kevin

listen Kevin just this morning we had

fantasti retail sales numbers okay and I

covered them and I too this morning

wrote wow what a blowout this is really

interesting I I literally wrote it here

it is blowout big beat all of the

numbers came in higher than expected and

the previous numbers were revised up

more commentaries now appearing about

the low Landing economy okay great but

then we edit in the inflation adjustment

later in the day we know these aren't

inflation adjustment adjusted but I go

in later and I'm like let's compare

these year-over-year so I look at the

year-over-year numbers I'm like hm motor

vehicle parts are only up 1% in retail

sales go wait a minute inflation right

now is like 3 and half% that means motor

vehicle part sales are actually down 2

and 1.2% but wait a minute motor vehicle

parts are part of CPI inflation which

has been skyrocketing motor vehicle part

prices have absolutely been skyrocketing

to some account they're up 40% where

wages are up like 18% it's crazy so why

would they say that retail sales are

only up 1% oh well that could simply be

explained by people being able to buy

less because they have less money so you

didn't actually get a 1% year-over-year

beat you got 1% minus 3 and a half%

inflation you're attive -25% retail

sales for motor vehicle parts despite

prices being up way more than wages same

thing for furniture building materials

and every single year-over-year category

in the retail sales report the highest C

category was miscellaneous retailers

like pet stores and they were up 2 and a

half% or 2.7% also negative when you

adjust for inflation so then I'm like

okay wait a minute so we get it like

sometimes the numbers are presented in a

cooked manner is this really a big

problem so then I put my hat on and I go

okay well are we ever negative on retail

sales for a longer period of time and

the answer is yes we are we're negative

on retail sales in recession

and now oh okay that's not great then of

course we have gold at400 which some

people have been saying is snuffing out

something bad coming after all Ts

Lombard suggests that gold 3x in 19 2 to

3x in 1972 78 in 2008 skipping thec

recession okay that's not good so wait a

minute so we've got retail sales numbers

that are a little fugazi the banks are

lying to us which I'm about to get to

gold skyro marketing which could be

because of geopolitical issues uh the

Iran Israel issu is a problem that could

also potentially explain what's going on

with inflation expectations but we have

not had an Iran Israel problem all year

we've had an Israel Gaza problem all

year but look since January inflation

expectations have gone straight up we're

on the fiveyear at

2.57% and we're peing we are

skyrocketing and so the question is how

long can Jerome Powell keep up the

charade the BS charade that inflation

expectations are going to remain

anchored not to mention the inversion

last year of the 2os 10 curve led to a

lot of pain in the stock market okay but

this is where a lot of people go but

Kevin but Kevin listen Kevin I already

went to metkevin.com lifee and I got my

life insurance in as little as 5 minutes

I already did that the reality is

Kevin inflation just doesn't matter

anymore rates they just don't matter

anymore earnings are so Gucci right now

everything's fine we don't have to worry

about pricing and rates anymore because

we're past that and this is an idea that

we've actually brought up this morning

we're like are markets just ignoring

rates and is that healthy I mean since

December well in December we're like oh

yeah markets are pricing in seven rate

cuts and now we're pricing in 1.5 rate

cuts and the stock market's been mostly

flat well until of course today see

today we broke the 50-day moving average

and we broke this long six-month Trend

we've had on the S&P 500 that's not

great neither of these are great we're

topping out on BTC The Q's AI chips

we're topping out on the S&P 500

everything's topping out right at the

same time we're getting potential

potentially in my opinion it's just my

opinion straight up fraud from the banks

and the banks lead earning season so my

question is what happens when earnings

all of a sudden aren't actually that

good anymore and at the same time Jerome

poell finally

goes H yeah this is a problem well I'll

tell you what happens all of a sudden

the Market's going to

go interest rates matter again

uh well that's not going to be good

that's not going to be good and that's

not going to be pleasant it's not going

to be pleasant at all but why could it

possibly happen why would why would the

economy have a problem well a lot of

people have been asking me about vanon

mises lately the Austrian Economist

ludic Von mises German well he did all

his writings in German so this is a

summary I've been reading primers on lud

Ludwick just to catch up what I always

like to do is I like to read I read a

lot of things and then you got to come

back to it cuz you're going to forget so

I'm like all right let's break out the

texts again on ludvick and then listen I

just want you to listen to this got I

put it up on screen but just listen to

this and then we're going to get to JP

Morgan and the disasters at the banks

and how they're lying to you okay listen

to this all you have to do is listen

when the quantity of money in

circulation like inflation Rises for

some reason people feel richer and spend

more you know like stimulus checks but

this extra spending merely drives up

prices leaving nobody better off such is

the story of inflation Mees and his

colleague fredi saw that maybe it was

actually worse than that though spending

booms and these sort of inflationary

booms actually lead

entrepreneurs to believe that there's a

real increase in demand for their

products Tesla meanwhile the surge in

credit makes loans cheaper so

entrepreneurs borrow more to invest more

and produce more but this is mistaken

overinvestment known as

malinvestment malinvestment which is

based on false price signals and before

long the public spending spree is curbed

because things are too expensive like

Auto rates which are absolutely insane

right now and Auto Loan delinquent

quencies are spiking at an increase of

over 75% at least per the New York fed

that's like 7% annualized right now but

anyway by printing money governments can

create an artificial boom but this must

inevitably be followed by a bust a

painful adjustment process takes place

as malinvestments are

liquidated that doesn't sound good but

but but wait a minute like things should

be okay right I mean things are getting

better right the US has been resilient

the UK is growing out of recession again

Germany's industrial sector is growing

again Bloomberg GDP forecasts are at

about 2.9% China showing signs of

rebounding things seem okay

right okay that's true things seem okay

on the surface but what if we start

looking under the hood well we don't

want to look at government interest

payments because those look horrible but

let's scroll past that and let's just go

to the chart that has government

interest payments as a percentage of GDP

before we get to the bank disaster oh

and that's more normal oh wait but

there's a problem with this chart and

see identifying problems like this are

the kinds of things in perspective as

well as what you're about to learn about

the banks that I teach in the courses on

building your wealth if you're not part

of those yet we have a coupon expiring

this Friday you ought to be part of them

we're releasing new lectures this Sunday

great new content and in the and sight

group you get all my Buy sell alerts

when I'm trading this morning we came up

with some pretty solid strategies on how

to trade for the day now I wasn't

perfect with my trading exactly but we

had about a thousand a thousand course

members watching this morning as we came

up with a strategy said look here's the

game plan here's what happens if isra if

Israel does this here's where to go if

Israel does this here's where to go if

Iran does this came up with a game plan

that if followed perfectly would have

done very well today now what do we have

over

here this chart only updates annually so

we don't actually get an update on this

chart that's skyrocketing on interest

payments by the fed the federal

government as a percentage of GDP until

guess when ah next march crap well if

next march were in the middle of a

recession and this number over here is

like way up here what good does that do

us as a leading indicator nothing it

does nothing okay but Kevin you've shown

us before that Consumer Debt Service

payments as a percentage of disposable

personal income are stable they're not

actually way higher than at like do

levels they're higher than where or at

the highest points where we were pre-co

but they're not like at extreme levels

right like the mid

80s that's true but what screws up this

chart remember this is a chart on

consumer debt payments as a percentage

of disposable income that's a way of

basically saying if you have $100 left

over after you pay your rent and your

food and then you have $10 of debt

you're at 10% all right that's the money

you have left over how much is going to

debt right now we're sitting somewhere

around 5.7

5.8% just to explain that what could

change that well if your $100 goes to 50

then that

doubles well what's been the trajectory

for January February of

2024 oh

oh that's not good now you can make the

argument that this real disposable

income level is just being affected by

inflation but then it should have been

affected by inflation here and you can

make the argument that maybe we're just

going back to levels where we previously

were but it's the trend that's the

concern we're about to go negative again

if this trend continues and what if we

don't inflation adjust it because

inflation numbers came in a little

hotter in J and Feb right okay don't

inflation adjust it crap the numbers

going down as well nearly straight down

as well that's not great and it leads

into what we're seeing at credit card

delinquencies which this only updates

quarterly but we're way higher than

where we were in the 10 years before the

pandemic we're going back to 2024 levels

on credit card delinquency delinquencies

here okay so then I thought to myself

but that's all old data it's all like Q4

data what data is going to give me some

some juice about the trajectory of

things going forward no it's not Q4

autol loan delinquencies where the fed's

telling us uh you know we're seeing 8.5%

of credit card balances and 7.7% of auto

loans transitioning into delinquency on

an annualized basis that's not great but

we'll ignore that portion for moment

let's go to the actual Banks and let's

understand what the banks are saying

because this whole video is based on the

premise that the banks are lying through

their teeth to us now you might be

thinking to yourself but Kevin the banks

always lie through their teeth how is

that a surprise fine but this is even

more blatant than I've ever seen before

and that is what gets scary now first

you have to know something when it comes

to Banks there are these things called

Provisions for credit losses that sounds

complicated but it's basically kind of

like doing this you and your girlfriend

sit down and you go hey honey we're

going to have to put some money aside

just in case that water heater blows and

we think that water heater is going to

cost us $2500 to install because we

don't know a good plumber so we're going

to get ripped off we need to set aside

$2500 for that water

he okay honey well we'll set aside $200

a month for it and then we'll have

nearly $2,500 and we'll just cut out

some of the Christmas expenses and then

we have

$2,500 okay we'll get to it okay so

that's a way of setting up an allowance

for an expense that you think is coming

with the banks you're actually allowed

to lower your earnings by taking a write

off for losses you think you're going to

incur but if you just happen to think

everything's going to normalize and be

okay I guess you don't actually have to

take those losses and you could use that

to sort of manipulate your earnings now

that would only be concerning if some

other numbers were getting really bad

right like like how about charge offs hm

okay well let's see what's going on with

credit losses versus Charge offs so

credit losses are you saving for the

water heater a charge off is kind of

like this schmuck owes us $11,000 he's

never going to pay let's just write him

off and get him out of our life and

forget that he owes us $1,000 that's a

charge off okay so let's see what

happens between the two ready for it

you'll see exactly what I'm seeing and

and it ain't pretty first JP Morgan H

okay what does JP Morgan have for us

well I want you to see this the

provision for credit losses is

plummeting look at this right here $2.7

billion of or credit losses provisioned

in the fourth quarter of 2023 but then

you go over here to q1 hey we need to

pump up that net income so let's take

fewer credit losses we'll take 1.8

nobody will notice that we just propped

up the numbers by $800 million which wow

that $800 million is exactly what we

need to show a year-over-year growth

number literally the difference in net

income between q123 and q1 1224 is $800

million ah Shucks we are growing honey

we're doing great or you're lying to

yourself that's JP Morgan but wait it

gets more worse let's look at the trend

of charge offs so remember these are

people you're saying hey schmuck I'm not

going to get any money from you you suck

I'll take the loss q1 2023 and we're

going to go quarter by quarter here you

ready for this card services charge offs

922 million 1.1 billion 1.2 billion 1.4

billion nearly 1.7 billion add up the

totals same thing we literally increased

charge offs from 1 .0 billion to 1.8

billion that's an 80% increase

year-over-year in charge offs so you're

literally saying hey schmuck you suck

I'm writing you off 80% more than you

were were at the start of 2023 let that

snc in for a moment but wait a minute

what about Card Services net charge offs

so for Card Services we literally just

went from

2.07% charge offs to 3.3 2% so we just

increased those charge offs

60% and what's their response in their

earnings call their response is

literally we continue to expect 2024

card net charge offs to be below 3 and

half% so think about that for a moment

okay charge offs went up

60% and on the earnings call when

they're asked about it they're like what

we continue to think it'll be below this

extremely high level and don't mind that

the trend is skyrocketing nothing to see

here but we're doing BuyBacks and don't

mind that Jamie Diamond is selling okay

now maybe that's just a fluke maybe

that's just a fluke and maybe they're

not lying to us oh but wait there's more

I'm telling you by the end of this by

the end of this analysis you will want

to be with the thousand people that were

in our live course member live stream

this morning understanding how to trade

this market and analyze the crap that's

going on you pay once you get lifetime

access need a bundle coupon email us at

staff ATM kevin.com so what do we have

right here Wells Fargo net charge offs

were stable from the fourth quarter oh

well that sounds good Kevin doesn't that

violate what you just said wait for it

net charge offs were stable from the

fourth quarter and we repurchased 6.1

billion dollars of common stock so

nothing to worry here we're buying back

stock okay great so I go deeper into

your financials what were your charge

offs in the quarter ended q1

2023 so last year oh 5 $64 million hm

okay $564 million what were they now oh

$1.1 billion wait so your charge offs

are up

105% from

q1 but don't worry folks we're stable

compared to the fourth quarter stable

bad you're like stable at Double more

than double what you were last year

okay that's not great but look at this

beautiful buyback oh and don't worry we

made the provision for credit loss

number look smaller in q1 the way we

were able to do that is we took our net

charge offs and then rather than taking

an allowance for credit losses we

actually gave us a smaller allowance for

credit losses which is kind of like

taking earnings back like basically

giving ourselves earnings so we gave

ourselves $219 million and now we're

able to say hey look our total provision

for credit losses were actually less

than what they were last year because we

just manipulated the books right in

front of your face and nobody said

anything I'm joking because the level of

here is massive and we're about

to get to the earnings call where you'll

see some more but before we get

there let's go to City oh okay what do

we have here City Group cost of credit

was up approximately 2.4 billion in the

first quarter of 2024 compared with 2

billion in the prior year primarily

driven by higher credit cards net credit

loss

partially offset by a lower allowance

for credit losses wait a minute what oh

okay your reserve for that water heater

you normally grow that Reserve by 241

million or 397 million how much did you

grow it by this quarter 21 million in

other words you barely grew it while at

the same time what happened to net

losses oh last q1 1.3 billion this q1

2.3 billion a

77% increase in credit card charge offs

at City Bank that's three banks in a row

then of course we saw Jamie Diamond sell

but wait folks there's more what did

Wells Fargo tell us on the earnings call

okay so their earnings call they get

asked what are you guys thinking for a

peak in net charge offs smart analysts

you want to hear what the senior vice

president over at Wells Fargo says and

keep in mind there's salesy stuff in

between this that

I realize it's very salesy it is more

bullish they're saying look everything's

performing on top of what we would have

expected maybe we're even doing better

credit quality looks good things seem to

be good great that's really bullish but

what did they actually also right and

that's what I want you to pay attention

to and you have to sort of evaluate that

yourself okay I just want you to read

this red for a moment here we're seeing

faster growth in new accounts and New

Balances coming on okay well that's half

bullish because it means Wells Fargo

growing right but it also means people

are taking on more debt okay that's not

great so we got to do some reading

between the lines here right then listen

to this at some point charge offs should

Peak and you'll start to see some normal

behavior then we go bullish bullish

bullish bullish bullish right because

they're like saying hey we spent a lot

of time looking at the underlying things

we think things are going to like

they're part in their normal phase of

maturation we think things are

normalizing and then listen to this line

and as it Peaks

we'll sort of let you know when we feel

like we're there but it should be peing

over the coming quarters in other words

we have no idea when these charge offs

are actually going to Peak but it should

be peaking soon and as soon as we have

more clarity on when the numbers are

actually going to Peak don't worry we'll

let you know too but in the meantime

we'll be dumping our shares folks

welcome to finance in

America o burn that sucks so

I'm shocked I just want to be

transparent here maybe I shouldn't be

shocked that the banks are lying but

this is blatant this is like blunt

lying now hey maybe everything's fine

maybe everything's going to be a okay

but let's just say it doesn't take many

straws like Iran Israel combined with

this sort of weakening at Banks to make

me really grateful I've got some more

cash on the sidelines now some people

like to say things like oh well you're

just trying to find a bearish point of

view to reiterate why you're in

cash I don't think so see I went to cash

early

March I wish I went to Mar uh cash a

little bit earlier because that's when

we really started seeing some red flags

I've been bullish since the end of 2022

I started an ETF around that time and

have been pretty bullish inflation was

going away it was falling everything was

going good now it's possible that

everything that we had in the boom of 22

and three in terms of like oh wow

earnings are beating in 23 over the 2022

hole right the pain of 2022 and the

transitory inflation it's possible all

of that was just

fugazi backed up by who knows excess

savings or whatever and now we got to

pay the piper or as van you know Von Mei

says we got to clear out the Mal

investment that's not good so did the

bad data and the bad indicators come

first or did Kevin being bearish come

first well I think the bad data came

first I wish I went bearish first I wish

I could take credit for that but let's

just be real I'm using the data to try

to be bullish to justify why I should

take the risk and leap of faith of

buying stocks right now and I'm looking

at it and

going maybe I need a a little more cash

on the sidelines

than it's not good so yeah I'm

optimistic about two things right now an

expiring coupon code on Friday email us

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promotion but both Lauren and I use it

and it's great never had a problem with

it see you soon why not advertise these

things that you told us here I feel like

nobody else knows about this we'll we'll

try a little advertising and see how it

goes congratulations man you have done

so much people love you people look up

to you Kevin PA there financial analyst

and YouTuber meet Kevin always great to

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