'23-'25/26 will be one of the toughest periods recession/depression that man has ever encountered. I suspect that this winter, if mismanaged, can spur an 1848 type event across Europe.
High interest rates correlate to high inflation which is why housing prices will come down. Obviously a payment on a house which is attainable at 3% is not attainable at 6% plus and then some.
Inflation is being exasperated by the Clowns who want to continue to print money
Fact in 2000 the US Treasury had almost $3.6 trillion today roughly $580 billion to chase the $21 trillion paperbacks floating around. That same $3.6 trillion was only chasing less than $5 trillion.
This is only getting uglier when politicians who can’t balance their own checkbook are determining the country’s financial affairs and ignoring any economist who doesn’t go along with their I’ll conceived out of control spending habits.
Hindsight is 20/20, so I would rename this thread: "It SHOULD be about the economy; however, too many stupid people don't understand this concept". See PA as exhibit one for electing a lazy, coddled and addle brained retard over a much smarter individual whose major "sin" is being a carpet bagger...
(11-23-2022 08:39 AM)miko33 Wrote: Hindsight is 20/20, so I would rename this thread: "It SHOULD be about the economy; however, too many stupid people don't understand this concept". See PA as exhibit one for electing a lazy, coddled and addle brained retard over a much smarter individual whose major "sin" is being a carpet bagger...
But it was incredibly stupid politics to run a carpet bagger in what should have been a laydown election. When you're running against a vegetable, you really ought to win.
(11-23-2022 08:39 AM)miko33 Wrote: Hindsight is 20/20, so I would rename this thread: "It SHOULD be about the economy; however, too many stupid people don't understand this concept". See PA as exhibit one for electing a lazy, coddled and addle brained retard over a much smarter individual whose major "sin" is being a carpet bagger...
But it was incredibly stupid politics to run a carpet bagger in what should have been a laydown election. When you're running against a vegetable, you really ought to win.
(11-23-2022 08:39 AM)miko33 Wrote: Hindsight is 20/20, so I would rename this thread: "It SHOULD be about the economy; however, too many stupid people don't understand this concept". See PA as exhibit one for electing a lazy, coddled and addle brained retard over a much smarter individual whose major "sin" is being a carpet bagger...
But it was incredibly stupid politics to run a carpet bagger in what should have been a laydown election. When you're running against a vegetable, you really ought to win.
I don't understand why there wasn't anyone in the PA GOP who could have won the primary and made Oz a moot point after the primary. I also don't understand why Trump was so stupid to back Oz instead of a local PA resident aside from it being an ego stroking project.
All that said, a carpet bagger is a much better alternative to a vegetable. PA GOP primary voters had alternatives to Oz but chose Oz. Then they didn't pull out all stops to get out the vote.
Clearly for the majority of PA residents, it wasn't about the economy...
Didn't they get Sloe's letter that everything about the economy's great--in fact better than ever before in history?? Maybe it got lost in shipment...
Quote:FedEx Plans $1 Billion in Cuts as Demand Falls
FedEx is planning to cut an additional $1 billion in costs, citing weak demand that led to a disappointing profit for Q2 2023, which ended Nov. 30. Most of the cuts are expected to impact the Express unit through measures including fewer flights. The reductions will add to cost-cutting measures announced in September to bring FedEx’s total fiscal savings plan for 2023 to $3.7 billion.
FedEx had expected revenue of $23.7 billion for the quarter but only brought in $22.8 billion. Net income fell to $788 million for the quarter, down from $1 billion a year earlier. The Express unit was the weakest part of the company, with operating income down 64% from last year. In comparison, FedEx Ground operating income rose 24% from last year and FedEx freight operating income increased 32% year-over-year.
Cost-cutting measures have resulted in a 6% drop in U.S. domestic flights and a 7% decline in international flights for FedEx so far in fiscal 2023. The company expects to park 11 additional aircraft by the end of the fiscal year.
“Our teams have an unwavering focus on rapidly implementing cost savings to improve profitability,” said Mike Lenz, CFO of FedEx in a statement. “As we look to the second half of our fiscal year, we are accelerating our progress on cost actions, helping to offset continued global volume softness.”
The reduction in transportation reflects reduced spending from U.S. consumers — discretionary spending confidence fell from 29% in 2021 to 24% in 2022, according to data from Deloitte. Economic uncertainty is affecting shoppers across the income spectrum, which could be causing a slowdown in overall purchases.
“Four out of 10 Americans say that their financial situation has worsened in the past 12 months,” said Steve Rogers, Managing Director at Deloitte in an interview with Retail TouchPoints. “That’s the highest level we’ve recorded since 2011. It’s not limited, and this is the interesting part, to lower income Americans. It’s across the income spectrum. We’re seeing it in the middle class, and we’re even seeing it in one in three respondents in the higher income class.”
What in the world are they talking about? Things are great! What is their problem? Fed Ux must be racisss...yeah, that's the ticket!
Quote:The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned on Tuesday.
In an annual report, the World Bank, which lends money to poorer countries for development projects, said it had slashed its forecast for global growth this year by nearly half, to just 1.7%, from its previous projection of 3%. If that forecast proves accurate, it would be the third-weakest annual expansion in three decades, behind only the deep recessions that resulted from the 2008 global financial crisis and the coronavirus pandemic in 2020.
Though the United States might avoid a recession this year — the World Bank predicts the U.S. economy will eke out growth of 0.5% — global weakness will likely pose another headwind for America’s businesses and consumers, on top of high prices and more expensive borrowing rates. The United States also remains vulnerable to further supply chain disruptions
Demokkkrats 'know' that things are better than ever...
(01-11-2023 02:49 PM)Hambone10 Wrote: High inflation makes the existing debt 'cheaper'... if that makes sense.... so they don't see this as a bad thing, but as an opportunity.
It's a manipulation. And when other nations call our hands on it, it all comes down like a house of cards! Waterloo was one lost battle to Napoleon. But after Waterloo the Swiss didn't loan him the money anymore because they no longer feared him. When the U.S. is no longer feared, this BS economy is toast!
The economy could be nearing a "Minsky moment" and a long overdue economic downturn.
A series of banking crises this month headlined by the failure of Silicon Valley Bank has forced analysts from multiple banks, including JPMorgan Chase, to rewrite their recession forecasts from scratch, as months of small victories against inflation and a relatively strong economy were potentially swept away in under two weeks.
Even if the government and the private sector are able to successfully contain contagion from the bank collapses spreading through the economy, the failures may still lead to lasting damage for the U.S. financial system. Some banks are teetering on the edge in Europe and the U.S., while jittery markets and the promise of stricter regulation could lead to a credit crunch—a steep decline in banks’ willingness to lend caused by a lack of funds.…
The analysts referred to current challenges as a possible “Minsky moment,” named after the American economist Hyman Minsky, who famously predicted that extended bull markets naturally end in epic and monumental collapses. A Minsky moment happens when the inevitable check comes due and the house of cards finally falls down. JPMorgan analysts wrote our Minsky moment is nearing as the past few weeks alone have seen a number of economic and geopolitical threats to the world, including banking crises on both sides of the Atlantic, China striking a new diplomatic deal with Saudi Arabia and Iran, and Chinese President Xi Jinping’s high-profile trip to Moscow and visit with sanctioned Russian counterpart Vladimir Putin, who was recently issued an international arrest warrant for war crimes committed in Ukraine.…
JPMorgan isn’t the only major bank to have downgraded its economic forecasts in recent weeks; Goldman Sachs also told clients last week the banking crisis could deliver a severe blow to U.S. economic growth. And former Treasury Secretary Larry Summers has warned multiple times in recent months even before the banking crisis that the economy could be headed for a “Wile E. Coyote moment,” having already run off a cliff edge but still blissfully unaware of the sudden crash about to happen.
yeah, this is so much 'better' than four years ago...just part of the Democrat/Globalists/Communists' "booming" economy...'booming' as in "imploding...but you knew that already...
Quote: Deutsche Bank shares fell by more than 11% on Friday following a spike in credit default swaps Thursday night, as concerns about the stability of European banks persisted.
The German lender’s Frankfurt-listed shares retreated for a third consecutive day and have now lost more than a fifth of their value so far this month. Credit default swaps — a form of insurance for a company’s bondholders against its default — leapt to 173 basis points Thursday night from 142 basis points the previous day.
Deutsche Bank’s additional tier-one (AT1) bonds — an asset class that hit the headlines this week after the controversial write-down of Credit Suisse’s AT1s as part of its rescue deal — also sold off sharply.
Deutsche led broad declines for major European banking stocks on Friday, with German rival Commerzbank shedding 9%, while Credit Suisse, Societe Generale and UBS each fell by more than 7%. Barclays and BNP Paribas both dropped by more than 6%.
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