As the FOMC meets to determine what next to do with interest rates, Double Down talks to Charles Hugh Smith of OfTwoMinds.com about the credit exhaustion that refuses to respond to interest rates, no matter how low they go. With over 9 trillion in negative yielding debt in Europe and abroad, will the US get them for the next downturn? And, if so, how will it make the wealth and income gap even worse? Charles Hugh Smith reminds that the American Revolution was also partly caused by the precarious economic situation for the majority of the population and how a similar quality today can also trigger unrest as we are all seeing in France with the #GiletsJaunes movement. So whether or not the US central bank decides to cut rates again this year, the credit exhaustion of the tapped out consumer could spell the end of the never-ending boom. Tune in to hear more.
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