Unemployment 'Exhaustion': 40% Have 'Literally Nothing' Left | DiMartino Booth

Danielle DiMartino Booth (CEO, QI Research) joins Jeremy Szafron to issue a critical warning about the credit markets, urging investors to "follow junk bond issuance" as the ultimate recession signal. She warns that a freeze in this market previously culminated in a "bloodbath in the stock market," and cracks are already appearing.In this interview, DiMartino Booth breaks down the Fed's sudden decision to "stop draining liquidity" from the system, warning that funding dislocations could make the end of December "ugly." She argues that "cockroaches continue to crawl out from underneath the woodwork" in private credit, pointing to contagion risks beyond the major players. DiMartino Booth also exposes a "40% exhaustion rate" in unemployment benefits—leaving millions with "literally nothing"—and questions the quality of Nvidia's cash flow, citing reports of "factoring their accounts receivables."Recorded on November 20, 2025Disclaimer:  The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.