Gundlach: “housing prices are doomed and the economy could lose several million jobs... refinancing industry completely dead.”
U.S. east coast has begun fuel rationing as shortages cause higher heating & transportation costs that adds more inflation pressure on households.
Biden’s socialist wealth transfer is paid by 2/3 of Americans with no degree for 1/3’s education as a crass political payoff. Debt is never wiped out.
After unprecedented loose monetary and fiscal policy that coincided with a pandemic, the aftermath and recession is squeezing buyers and sellers.