Let me show you what the Fed doesn't want you to see. Their Q2 2025 Consumer Credit Report is eerie. I spent 6 hours analyzing all 46 pages. What I found? We're not approaching 2008 levels. In some areas, we've already passed them.

First, the headline number: Americans now owe $18.39 TRILLION in total debt. That's $4.24T more than 2019. But the total isn't what matters. It's who can't pay...

Credit cards: 12.3% delinquency rate Auto loans: 5% (14-year high) Student loans: 10.2% on $1.64 trillion During 2008, credit card delinquencies peaked at ~ 13% We're less 1% away Except this time, there's a twist...

In 2008, banks tightened lending when defaults rose. Today? They're doing the OPPOSITE. Credit card limits increased $78 billion last quarter alone. Car dealers are lending to anyone with a pulse. They're desperately chasing yield in a high-rate environment. Sound familiar?

Here's the geographic landmine nobody's discussing: Nevada, Florida, and California are showing the highest stress. The EXACT same states that triggered 2008. Financial stress doesn't spread evenly. It clusters. Then it explodes. We've seen this movie before.

But wait. There's a $1.6 trillion elephant in the room that wasn't there in 2008: Student loans. After 3 years of forbearance, millions got comfortable not paying. Now? It's not just economic distress. It's mass financial slavery. You can't foreclose on a degree (yet)

The Fed is trapped: Cut rates? Inflation roars back. Keep rates high? Accelerate the debt spiral. They can choose the speed of the crisis. Not the destination. Consumer debt deleveraging is coming either way.

Remember: Consumer spending ~ 70% of GDP. When Americans can't pay their bills, they stop buying. When they stop buying, companies miss earnings. When earnings fall, layoffs begin. When layoffs begin, more defaults follow. And the loop has already started...

So what's the play? The Fed's playbook is predictable: • Deny the problem exists • Call it "transitory" • Emergency measures when it's too late • QE infinity and beyond They'll rob dollar savers to keep the circus going. They always do.

Bitcoin is the lifeboat Every debt crisis ends the same way: Currency debasement. While the Fed debates on $2 trillion or $3 trillion stimulus, Bitcoin stays at 21 million.

The NY Fed report isn't a warning. It's an autopsy of the American consumer. You have two choices: Hope it works out and the system doesn't implode Or ₿uild your lifeboat The debt bomb is ticking.

I help investors understand Bitcoin mining and use it to build generational wealth. Inflation is a problem for everyone. Bitcoin is a solution for everyone. Check out my investor letter: http://thebitcoinmininginvesto... Get $100+ in hosted mining credit (dm me)

h/t @jameslavish Full newsletter: https://www.jameslavish.com/p/...

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@BillyBoone32 @grok provide some details of the Florida housing market post-2008. What cities were hit the hardest? How big were those impacts in terms of foreclosures, resulting drop in average home prices, and days on market? Are those the same cities showing stress this time around?

@BillyBoone32 Cutting rates won’t cause inflation to roar back, it will do the opposite and should have been done 2 years ago to prevent this. You can curb the market exuberance with margin rates. Boom problem solved

@BillyBoone32 I see the vision, but bitcoin has been moving literally the same as the Nasdaq why would it all of a sudden de-couple?

@BillyBoone32 Cool, so you buy Bitcoin and then what? You sit on it. World economy collapses, you have Bitcoin, woo hoo! Then what? You need to spend it to buy goods and services. Cool. And how do you get more? What do you do when you run out? How do you stop being a target now that

@BillyBoone32 With extreme misconduct from leaders like the LA mayor, Minnesota’s governor, and California’s governor, how can citizens be expected to comply with anything if they don’t? When leadership fails, society unravels.

@BillyBoone32 @grok what would be your strategy for navigating this like a champion chess player Give multiple approaches, give details

@BillyBoone32 all form of predictive framework shows we are in decline. my rough work on using individual sovereignty index also points to 1776 level degradation of individual rights.

@BillyBoone32 Unemployment has been a cooked metric for a long time. It excludes a large number of unemployed (longterm = no longer counts.) Dramatic undercount. Stocks, assets, real estate are at all-time highs due to the printed dollars juicing values. Deflation and 50%+ losses coming.

@BillyBoone32 Wow, did everyone rack up credit card debt in seven months and decide to default or was it because of the last four years of sky rocketing inflation?

@BillyBoone32 It's terrifying but people are blind to it and just keep adding to debt for stuff they don't need. You don't need to borrow for the $100k kitchen reno on the house you already owe $500k on. So irresponsible and reckless.

@BillyBoone32 Fiscal Crisis is epic. No mathematical way to escape it. No more road to kick can down. $7.5T to sell, no buyers. Fed prints. 401Ks and Money Markets will be raided. This deleveraging will make the US unrecognizable.

@BillyBoone32 Stocks ATH Crypto not all ATH but high enough Full Employment But no one can pay their bills....? One of these metrics you cant fake, because no one is going to pay someone elses credit card bills. So the Defaulting credit cards are more or less the most honest metric of how

@BillyBoone32 Crap Shitcoin FUDder. Disregarded.

@BillyBoone32 People don't care about debt anymore. Fiat was debased . . . .people savings were robbed. . . This whole economy is completely mispriced All 200T of it

@BillyBoone32 Source: my ass

@BillyBoone32 people buy assets with their credit card?

@BillyBoone32 Taking advice from a 25 year old…..love it.

@BillyBoone32 Good read

@BillyBoone32 Lmao

@BillyBoone32 Grok is this true

@BillyBoone32 Interesting thread

@BillyBoone32 Hey @threadreaderapp unroll this for me