2018 Economy Goes Cold – Inflation Hot – Danielle DiMartino Booth

By Greg Hunter’s USAWatchdog.com 

Former Fed insider Danielle DiMartino Boot is not optimistic about a surging economy in 2018. Booth contends, “We have seen 24 consecutive back-to-back months when credit card spending has outpaced incomes.  That tells you households are struggling to get by.  This is not Eve Saint Laurent handbags and Jimmy Choo shoes.  These are families who are using their credit cards to take care of the necessities, to fill up the gas tank, to buy groceries and fill up their refrigerator. . . . We have seen month after month of subprime automobile delinquencies, and we are starting to see a big tic up in FHA mortgage delinquencies as well. . . . We are at almost 10% (delinquencies) of FHA mortgage loans.  Underlying this sugar high that we will see from all of these hurricanes and rebuilding efforts and wildfires, underneath that, still waters run deep

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