Crisis Point as DiMartino Booth Says Nearly Half of Americans Have Nothing Left to Spend

A major recession signal is flashing red. Danielle DiMartino Booth, CEO of QI Research and former Federal Reserve advisor, joins Jeremy Szafron to deliver one of her most urgent warnings yet: “Follow junk bond issuance.” When this market freezes, she says, a stock market bloodbath has historically followed—and the early cracks are already showing.

In this exclusive interview, DiMartino Booth explains why the Fed’s sudden decision to stop draining liquidity is a clear sign of funding stress inside the system. She warns that the end of December could turn ugly, with dislocations in private credit beginning to spill over into broader markets. “The cockroaches continue to crawl out from underneath the woodwork,” she says, pointing to contagion risks that stretch far beyond big-name lenders.

DiMartino Booth also exposes a 40 percent exhaustion rate in unemployment benefits, leaving millions of Americans with “literally nothing.” She raises fresh concerns about the quality of Nvidia’s cash flow, citing reports of the company factoring accounts receivables—a potential red flag hiding behind a trillion-dollar valuation.

Recorded on November 20, 2025, this is a must-watch economic briefing for anyone tracking the credit markets, Federal Reserve policy, unemployment stress, and the next major risk event on Wall Street.