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Finance Economist, 7/18/26
"You Won't Believe the Amount of
Insanity Hitting the U.S. This August"
"You won't believe the amount of insanity hitting the U.S. this August. Oil executives just warned the White House that petroleum inventories are at "tank bottom." Exxon's senior VP warned Brent crude could hit $150 to $160 per barrel. Gas is at $4.26 and climbing. The IEA confirms 10.5 million barrels per day of Gulf production is offline and demand exceeds supply by 1.78 million barrels per day. The personal savings rate collapsed to 2.6 percent, the lowest since before COVID. Twenty-nine percent of Americans are financing groceries on installment plans. The New York Fed warned last week that nearly half of all businesses have more tariff price increases planned. The $5 trillion debt ceiling raise from the OBBBA will be burned through in just two years. Hurricane season peaks in August while the grid is already under extreme stress. Texas came within 4 minutes of total grid collapse in 2021. The first official data on healthcare coverage losses and SNAP cuts is expected this summer. The CBO projects 5 million will lose insurance. And Congress goes on recess in August with nobody in Washington to manage any of it. Seven converging pressures in one month on a consumer who has $170 a month left in savings."
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