{"id":35805,"date":"2022-07-20T00:04:11","date_gmt":"2022-07-20T00:04:11","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=35805"},"modified":"2022-07-20T00:21:19","modified_gmt":"2022-07-20T00:21:19","slug":"margin-debt-plunges-30","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/","title":{"rendered":"Margin debt plunges 30%"},"content":{"rendered":"<p>Margin debt has fallen more than 30% from its October &#8217;21 peak. That is a similar range to the 2020 contraction, during the pandemic, but far behind the +50% contractions seen during the Dotcom crash (2000-2002) and the global financial crisis (2007-2009).<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png?resize=525%2C382&#038;ssl=1\" alt=\"S&amp;P 500 &amp; Margin Debt\" width=\"525\" height=\"382\" \/><\/p>\n<p>The S&amp;P fell 49% during the Dotcom crash and 57% during the GFC. The low point in June showed a 24% fall, from the January peak, followed by a 7.5% rally.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-20-spx.png?resize=525%2C375&#038;ssl=1\" alt=\"S&amp;P 500\" width=\"525\" height=\"375\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>Plunging margin debt confirms a bear market, in line with the Fed&#8217;s plan to force deleveraging in order to shrink aggregate demand and curb inflation.<\/p>\n<p>The current rally on the S&amp;P 500 is typical of a reflexive rally in the middle of a bear market. We expect further contraction in margin debt as interest rates rise and liquidity tightens. Our target is a 50% contraction in margin debt, with a similar fall in the S&amp;P 500, to 2400.<\/p>\n<h4>Acknowledgements<\/h4>\n<ul>\n<li>Hat tip to Advisor Perspectives for the margin debt chart<\/li>\n<li>FINRA for the margin debt data<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Margin debt has fallen more than 30% from its October &#8217;21 peak. That is a similar range to the 2020 contraction, during the pandemic, but far behind the +50% contractions seen during the Dotcom crash (2000-2002) and the global financial crisis (2007-2009). The S&amp;P fell 49% during the Dotcom crash and 57% during the GFC. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Margin debt plunges 30%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-35805","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Margin debt plunges 30% - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Margin debt plunges 30% - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Margin debt has fallen more than 30% from its October &#8217;21 peak. That is a similar range to the 2020 contraction, during the pandemic, but far behind the +50% contractions seen during the Dotcom crash (2000-2002) and the global financial crisis (2007-2009). The S&amp;P fell 49% during the Dotcom crash and 57% during the GFC. &hellip; Continue reading &quot;Margin debt plunges 30%&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-20T00:04:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-20T00:21:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Margin debt plunges 30%\",\"datePublished\":\"2022-07-20T00:04:11+00:00\",\"dateModified\":\"2022-07-20T00:21:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/\"},\"wordCount\":167,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/\",\"name\":\"Margin debt plunges 30% - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png\",\"datePublished\":\"2022-07-20T00:04:11+00:00\",\"dateModified\":\"2022-07-20T00:21:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Margin debt plunges 30%\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thepatientinvestor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\",\"https:\/\/au.linkedin.com\/in\/colintwiggs\"],\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Margin debt plunges 30% - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Margin debt plunges 30% - the patient investor","og_description":"Margin debt has fallen more than 30% from its October &#8217;21 peak. That is a similar range to the 2020 contraction, during the pandemic, but far behind the +50% contractions seen during the Dotcom crash (2000-2002) and the global financial crisis (2007-2009). The S&amp;P fell 49% during the Dotcom crash and 57% during the GFC. &hellip; Continue reading \"Margin debt plunges 30%\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2022-07-20T00:04:11+00:00","article_modified_time":"2022-07-20T00:21:19+00:00","og_image":[{"url":"https:\/\/static.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"Margin debt plunges 30%","datePublished":"2022-07-20T00:04:11+00:00","dateModified":"2022-07-20T00:21:19+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/"},"wordCount":167,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/","name":"Margin debt plunges 30% - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png","datePublished":"2022-07-20T00:04:11+00:00","dateModified":"2022-07-20T00:21:19+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2022\/2022-07-20-margindebt.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/20\/margin-debt-plunges-30\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Margin debt plunges 30%"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454","name":"Colin Twiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","caption":"Colin Twiggs"},"description":"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-9jv","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":24883,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/03\/30\/margin-calls-are-coming\/","url_meta":{"origin":35805,"position":0},"title":"Margin calls are coming","author":"Colin Twiggs","date":"March 30, 2021","format":false,"excerpt":"....Goldman Sachs and Morgan Stanley sold shares in Viacom, Discovery and a number of Chinese companies listed on US exchanges, including Tencent, and Baidu, wiping about $US35 billion off the market value of the companies involved. The sales were reportedly the result of lenders making margin calls on Archegos Capital\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26139,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/04\/debt-irrational-exuberance-disaster\/","url_meta":{"origin":35805,"position":1},"title":"Debt + irrational exuberance = danger","author":"Colin Twiggs","date":"June 4, 2021","format":false,"excerpt":"Three charts from Jesse Felder highlight the sharp rise in leverage, fueling the current stock bubble: 1) Margin debt. 2) Leveraged ETFs. 3) The net position of \u201cnon-reportable\u201d small speculators in S&P 500 futures contracts. The Put\/Call ratio is close to a record low, increasing the risk of a market\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Put\/Call Ratio","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-04-putcall.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":31052,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/02\/19\/tesla-another-nail-in-the-coffin\/","url_meta":{"origin":35805,"position":2},"title":"Tesla another nail in the coffin","author":"Colin Twiggs","date":"February 19, 2022","format":false,"excerpt":"Tesla retreated below primary support at 900, the second failed attempt to recover above this important bear level. The latest Trend Index peak below zero warns of strong selling pressure. Follow-through below 800 would confirm the primary down-trend. A reversal signal for Tesla, one of the stars of the recent\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Tesla","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-18-tsla.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-18-tsla.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-18-tsla.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-02-18-tsla.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17768,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/22\/cautiously-bearish\/","url_meta":{"origin":35805,"position":3},"title":"Cautiously bearish","author":"Colin Twiggs","date":"January 22, 2019","format":false,"excerpt":"In my last newsletter I said: \"We are witnessing the transition from a bull to a bear market......It's time to be cautiously bearish.\" What does \"cautiously bearish\" mean? There are two types of bear markets. First, is the October 1987-style blow-off, where the market goes over a cliff into an\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6979,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/14\/expanding-debt-dousing-the-flames-with-gasoline\/","url_meta":{"origin":35805,"position":4},"title":"Expanding debt: Dousing the flames with gasoline","author":"Colin Twiggs","date":"March 14, 2013","format":false,"excerpt":"We are now in the fifth year of recovery from the worst financial crisis in 50 years -- fueled by expanding household debt, rising from 50% of GDP in the 1980s to close to 100% in 2008. Contraction since the GFC has brought US household debt back to 80% of\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21091,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/07\/25\/sp-500-stocks-rise-but-earnings-fall\/","url_meta":{"origin":35805,"position":5},"title":"S&#038;P 500: Stocks rise but earnings fall","author":"Colin Twiggs","date":"July 25, 2020","format":false,"excerpt":"Introduction of compulsory mask-wearing in several states has hopefully halted the climb in daily COVID19 cases. But this is the new normal, with any relaxation of restrictions likely to lead to fresh outbreaks. Source JHU CSSE Real GDP is expected to contract by 8.0% (year-on-year) in the second quarter, based\u2026","rel":"","context":"In &quot;Deficit Spending &amp; Employment&quot;","block_context":{"text":"Deficit Spending &amp; Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/35805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=35805"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/35805\/revisions"}],"predecessor-version":[{"id":35806,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/35805\/revisions\/35806"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=35805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=35805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=35805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}