Get ready. It's coming.

The economic signals are getting worse. Make sure you're prepared for what's coming... Get ready. It's coming    Dear Friend, Your time is valuable so I'll keep things quick. I have two things for you today. Both of which I think you will really appreciate... First is some recent data from the NY Fed backing up our concerns about the U.S. economy. Second is a newly released presentation that goes into great detail about everything we've been talking about lately. The information inside is eye-opening. And you'll find some simple actions that you can take today to protect and - even better - [grow your wealth in the coming economic fallout](. You absolutely don't want to miss out on this. I'll likely be re-linking that presentation over the next few weeks because I think it's extremely important to see. There will also be additions to it as we move forward so I want to make sure you have the most updated versions as they are released. I'll drop a link to the early access release down below... But first, some quick insight on what's going on out there right now: Check out this headliner from Bloomberg, hot off the presses: [Bloomberg on HELOCs] Here's a direct quote from the article: After almost 13 years of declines, balances on home equity lines of credit, known as HELOCs, have begun to rebound, gaining 20% [since the end of 2021], according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit released Tuesday. You read that right: the number of Americans who are borrowing against their own homes is up 20% in the last two years. If you don't know anything about HELOCs, they're incredibly dangerous. They almost always come with variable rates (one of the dumbest things you could ever sign up for). They diminish your equity cushion. And they put your HOME on the line... HELOCs are a desparation play, plain and simple, and the rise in HELOC debt were seeing today is extremely similar to what we saw leading into 2008. In fact, it's even worse because between Q1 2006 and Q1 2008, the two years leading up to the financial crisis, HELOC debt grew just 13.9%. The good news is we're not yet at the same level of debt we were at that time. But the trajectory is extremely concerning. And at this rate we will be there soon enough. Regardless of how high HELOC debt goes, this is yet another signal that consumers are getting desperate and running out of spending power. And if that's not enough to worry you, consider some of these other data points we got from that same NY Fed report yesterday: - Household debt now at $17.8T, up $109B - Credit card debt at $1.14T, up $27B - Auto-loan debt at $1.6, up $10B - 30+ days delinquent auto loans now at 7.95% (decade high) - credit card debt deliquencies at 9.05% (12 year high) The market has rallied this week and people are back in greed mode but my two cents is to not trust it; Things are definitely going to get worse before they get better. The good news is that, despite the dangers, this crisis is creating enormous opportunity (there's always a bull market somewhere). [So if you can sense what's coming... If you want to learn more... And if you want to be prepared... Take 20 minutes out of your day and read this immediately.]( With Purpose, Jason Stutman   If you no longer wish to receive updates from The Back office you [may opt out here.]( The Back Office, Copyright © 2024, Angel Publishing, LLC., 3 E. Read Street, Baltimore, MD 21202. For customer service, please call [877-303-4529](tel:/8773034529). All rights reserved. No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned. While we believe the sources of information to be reliable, we in no way represent or guarantee the accuracy of the statements made herein. Angel Publishing and The Back Office does not provide individual investment counseling, act as an investment advisor, or individually advocate the purchase or sale of any security or investment. Subscribers should not view this publication as offering personalized legal or investment counseling. Investments recommended in this publication should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company in question. Unauthorized reproduction of this newsletter or its contents by Xerography, facsimile, or any other means is illegal and punishable by law. Â