Time Inc is cutting 300 jobs, Toy R Us is in trouble as sales continue to decline. Retail sales numbers are out and sales in each sector has declined. The retail industry is imploding. GM extends shutdown of more plants as inventories build up. 2nd Quarter GDP has taken another hit as the economy rips itself apart.
Bundesbank's warns that they are now looking at the biggest asset bubble they have ever seen and cryptos might cause everything to crash. The US Gov/Central Banks are going after cryptos now. The Fed makes their move and they raise interest rates. They have now just accelerated the collapse of the economy.
As BoA reports when the Fed tightens we end up with an event.