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Lee Zeldin will be releasing info on the climate control system that the [DS] have been using. The [CB] is trying to push the economy over the edge before Trump's system take effect. Prediction for gold $8000 an ounce. Trump has brought the deficit down to 2019 levels. The [DS] is going to track Ice, which means they are assisting the criminals. Brennan is now sending message to Comey that nobody is going to sing and turn on you. The [DS] is pushing war and Trump know they are doing this, this is part of their 16 year plan. Trump is using the enemies tactics against them. He just placed sanctions on Russia, this has been done since 2014 and it did not hurt Russia or stop Russia. Trump is leading the [DS] down the path to war and he will usher in peace, the art of war.

 

Economy

https://twitter.com/onechancefreedm/status/1980992971840319512

 the weight of bad loans and alleged fraud. Then First Brands, a heavily indebted auto parts manufacturer, filed for Chapter 11. Now, PrimaLend Capital Partners, another subprime lender has fallen after defaulting on its bond payments, pushed into bankruptcy by unpaid creditors.

These aren’t isolated blowups; they’re the first visible cracks in a broader credit contraction that’s been quietly building beneath the surface.

What links them all is the same structure of fragility: loans to high risk borrowers, funded through short term credit and securitized into complex bonds that depend on constant refinancing. When the Fed held rates near zero, that model worked but after two years of policy tightening and an average fed funds rate above 4.4%, the entire subprime ecosystem is choking on its own leverage. The subprime auto sector is the perfect early warning signal because it sits at the intersection of consumer stress and financial engineering.

Borrowers with weaker credit are defaulting at rising rates, repossessions are spiking, and lenders like PrimaLend that rely on bond markets for funding are discovering those markets have no appetite for risk. This is about a chain reaction through the private credit and asset backed markets that financed them. Dimon’s cockroaches aren’t just in subprime auto, they’re spread across the shadow banking system.

Many private credit funds, BDCs, and securitized lenders hold similar exposure, marked to model rather than market. The first failures are surfacing where consumers feel the pinch first, but as liquidity tightens further, the stress will migrate up the credit spectrum, from auto loans to small business credit, to leveraged corporates, and eventually to the banks that lent to them. These bankruptcies are the financial equivalent of the first tremors before an earthquake.

What looks contained in subprime auto today is really the credit cycle shifting into its next phase, one where overextended lenders, not just borrowers, start defaulting. The cockroaches are moving fast, and the lights have only just come on.

Existing Home Sales Rise Off Record Lows As Mortgage Rates Drop 

With mortgage rates tumbling, housing market participants were disappointed this week by the lack of enthusiasm by homebuyers to apply for mortgages (though there was a decent bounce in refi activity). This morning's existing home sales data (admittedly for September) will give us a further glimpse into the reality oh home-buying vs home-selling as the gap between current mortgage rates and the average existing mortgage rates remains vast...