The Next Historic Financial Crisis Is Already Here
If the next great financial crisis has already begun… it probably doesn’t look like one yet. The stock market is still near record highs. Unemployment is only 4.1%. People are still out shopping. But... underneath that calm surface, something extraordinary is happening. A key interest rate just crossed 5% for the first time since 2007. Mortgages are back above 7%. America’s banks are sitting on over $326 billion in losses. Oil is above $100. And this week, the Federal Reserve did something it hasn’t done in over three years — it RAISED interest rates. Now, does that mean another 2008 is…
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