The U.S. economy is headed for financial collapse. Repo market stress. Private credit market liquidity crunch. Subprime lending crisis. Spiraling deficits. Basis trade exposure. Dollar debasement. U.S. states in recession. Oil market contango. Tariff and trade wars. Each of these are like explosive devices hiding in the corners of the economic edifice that is the U.S. economy. And the Federal Reserve just released a shocking paper that exposes the biggest potential threat of all. Explosive devices have been set all around the economy and a new bomb was just uncovered in the most unlikely of places.

Chapters

Intro: 00:05:21

Chapter One: The Road to Economic Hegemony. 00:06:24

Chapter Two: Collision Course. 00:30:55

Chapter Three: Hidden Bomb. 00:35:50

Chapter Four: Bring It Home, Max. 00:44:50

Resources

The Lead Left: Middle Market & Private Credit – 2/10/2025

Mark Zandi on X

Axios: 22 states are in a recession or close to it, new analysis finds

The Fed: The Cross-Border Trail of the Treasury Basis Trade 

FSB: Leverage in Nonbank Financial Intermediation: Final report

Morningstar: Official data dramatically underestimates hedge funds' involvement in the Treasury market, Fed paper finds

Federal Reserve Bank of New York: Repo Operations

Fidelity: Investor behind Zions, Western Alliance bad loans is tied to $270 million in troubled debt

Car Dealership Guy: Tricolor: The messy collapse of a subprime auto lender explained

Investopedia: Basis Trading: Definition, How It Works, Example

The Guardian: What is private credit, and should we be worried by the collapse of US firms?

OilPrice.com: Oil Market Braces for Contango and Shale Slowdown

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