Something big is coming economically. And I think it’s really sooner than anyone wants to admit.
I work in purchasing at a large small-business, and we’re seeing anxiety from vendors who have always seemed the most comfortable. We’re being asked for personal guarantees on orders with payment terms dated years out. The largest company in the industry suddenly started holding our orders termed out into Q4, unless we pay on older orders that haven’t reached term and won’t for a few months now.
Everyone is acting like they don’t expect anyone to have any money at all by the end of summer. It’s like they expect these debts to never be able to be paid, to the extent that these suppliers are talking directly to our bank. We haven’t had issues paying these vendors, either. These are international companies that we’re working with, so I really wonder if it’s even further than a recession that’s on the horizon; I’m worried the writing is pointing towards a Weimar-style collapse of the USD.
To quote one of the most incredible things my economics-degree-holding best friend said:
The valuation of the Dollar will, in due time, be something the likes of which we’ve never seen.
