DOGE
Das is downplaying the severity of the US slide, please read this Fortune story ‘The Big Short’ investor who predicted the 2008 crash warns the market is ‘underestimating’ the economic impact of DOGE’s mass spending cuts (hat tip resilc). Representative bits:
DOGE and Musk could be Trojan horses for dismembering government capabilities and decreasing regulatory constraints on business. Actions to date have significantly weakened bodies responsible for oversight and enforcing legislation. This would allow interests associated with the President to loot the nation.[Danny] Moses argued investors are already beginning to see disruptions in consumer confidence—which last month saw its steepest drop in four years—and will continue to hear similar trends in upcoming earnings calls. These slowdowns have yet to be priced into the market, he said…
The tell-tale signs of the weakening economy will be seen in small businesses and “private contractors that are doing legitimate work services that are now being forced to make decisions on their business,” Moses said.