Recession - 2022 / 2023 / 2024

[Hobo Hilton]

An FYI message:
Every single Democrat voted against it,
___________________________________________________________

Dear friends,

This week, the Bureau of Economic Analysis released data confirming the United States has entered an economic recession. Inflation remains at record highs, gas prices are still out of control, and wages are not keeping up with rising prices.

Americans are feeling the pain of the Biden Economy, yet the Biden Administration refuses to reverse the policies creating this crisis. To make matters worse, the liberal media is now trying to change the definition of a recession to cover the administration’s failures. The American people do not need an economist to tell them our economy has drastically declined since the Trump Administration.

While our economic situation continues to deteriorate, liberals in Congress are actively supporting policies that undermine our national security. House Republicans forced a vote on legislation this week to prevent the Biden Administration from selling any more of our strategic oil reserves to communist China. Every single Democrat voted against it, and they should be ashamed.

Take my survey below and keep reading for more information on what’s happening in Washington.


Respectfully,

 

[Hobo Hilton]

The rate at which Biden has driven the US economy into the ground is 'genuinely astounding:' Steve Hilton

'The Next Revolution' host Steve Hilton examines the U.S. recession and President Biden's economic mishaps in his opening monologue over the weekend.

www.foxnews.com

 

[Hobo Hilton]

Hmmmm... Imagine that.... Worldwide

Blackouts Hit Asia As LNG Prices Soar In Tight Global Market | OilPrice.com

Emerging economies in Asia face prolonged electricity crises and continued rolling blackouts as spot LNG prices surge and high demand from Europe is pricing Southeast Asia out of the tight global gas market

oilprice.com

 

[Hobo Hilton]

One of the oldest schemes in the book. Give us your USD's and we will give you a piece of paper.
Deja Vu

BNN Bloomberg – Canada Business News, TSX Today & Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.

www.bnnbloomberg.ca

 

[mosin46]

Calling the US Recession a Recession Is ‘Vitriolic’ Partisanship, Krugman Claims

www.theepochtimes.com

 

[Hobo Hilton]

Calling the US Recession a Recession Is ‘Vitriolic’ Partisanship, Krugman Claims

www.theepochtimes.com

I know, $2.5 million is not a "lot of money". But, if it was in my back pocket, I would not see these times as a recession, either.
Drink some more Koolaid...
______________________________

Paul Krugman net worth: Paul Krugman is an American economist and author who has a net worth of $2.5 million dollars. Born in Albany, New York, Paul Krugman earned his B.A. in Economics from Yale University, and then went on to earn his Ph.D. from MIT. He began developing his theories on economics while completing his doctorate, and after graduating he began teaching at various universities, including MIT, Princeton, Yale, the London School of Economics, and Stanford.

Paul Krugman Net Worth

What is Paul Krugman's net worth?

www.celebritynetworth.com

 

[Hobo Hilton]

Appears the top is forming:

U.S. job openings drop below 11 million for first time since last fall as hiring slows

Job openings in the U.S. fell to 10.7 million in June to mark the lowest level since last fall, signaling that a red-hot labor market is cooling off as the...

www.marketwatch.com

 

[Hobo Hilton]

Keeping up with the Jones', Living the American Dream, Flaunting it, Becoming addicted to the cushy lifestyle while shopping at Whole Foods.
I have witnessed this 3 or 4 times in my past. At some point the Piper must get paid.

Household debt tops $16 trillion for the first time, fueled by higher inflation and interest rates

Household debt climbed past $16 trillion in the second quarter, as soaring inflation pushed up housing and auto balances.

www.cnbc.com

 

[babyguppy]

Appears the top is forming:

U.S. job openings drop below 11 million for first time since last fall as hiring slows

Job openings in the U.S. fell to 10.7 million in June to mark the lowest level since last fall, signaling that a red-hot labor market is cooling off as the...

www.marketwatch.com

so, from a Biden perspective, there are tons of jobs and the economy is 'perfect'.

Great news. Remember, those aren't blackouts in your cities when you have no electricity, they are equality movements of the electrical grid.
Do your part, turn off all electrical appliances and walk everywhere; Al Gore needs the electricity.

 

[Hobo Hilton]

Germany is the largest economy in Europe, followed by United Kingdom, France, Italy, and Russia. These five together hold a 50% share of the European economy. Total ten European economies represent almost 80% share.
FTSE 100

An indicator of things to come

 

[Bigfatcock]

https://www.yahoo.com/finance/m/6c664398-7045-37c6-8549-17a771703dc5/americans’-credit-card-debt.html

Broke AF.

 

[E. Bryant]

Calling the US Recession a Recession Is ‘Vitriolic’ Partisanship, Krugman Claims

www.theepochtimes.com

So I'm not exactly a Krugman fan (in the most reductive form, he's a punching bag to be mocked like Jim Kramer). But in this particular case, he's simply not demonstrating the academic nuance that he's demonstrated in the past, such as here:

Paul Krugman Explains the Recession

Krugman speculates on the tipping point.

bigthink.com

Put another way, he's old and cranky and way too partisan to be of any use when discussing serious topics.

 

[E. Bryant]

https://www.yahoo.com/finance/m/6c664398-7045-37c6-8549-17a771703dc5/americans’-credit-card-debt.html

Broke AF.

But stock indexes are up some number of percent in the past month so there is nothing to worry about.

 

[E. Bryant]

One of the oldest schemes in the book. Give us your USD's and we will give you a piece of paper.
Deja Vu

BNN Bloomberg – Canada Business News, TSX Today & Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.

www.bnnbloomberg.ca

Why does Apple need to raise cash when it's already sitting on so much that it can basically burn it to heat its headquarters? I totally get that it's cheap to borrow (presumably cheaper than in the future), but this presents significant risk in a deflationary environment.

 

[Lightning8]

I know, $2.5 million is not a "lot of money". But, if it was in my back pocket, I would not see these times as a recession, either.
Drink some more Koolaid...
______________________________

Paul Krugman net worth: Paul Krugman is an American economist and author who has a net worth of $2.5 million dollars. Born in Albany, New York, Paul Krugman earned his B.A. in Economics from Yale University, and then went on to earn his Ph.D. from MIT. He began developing his theories on economics while completing his doctorate, and after graduating he began teaching at various universities, including MIT, Princeton, Yale, the London School of Economics, and Stanford.

Paul Krugman Net Worth

What is Paul Krugman's net worth?

www.celebritynetworth.com

Plenty of people on Hide with $2.5 million in optics, rifles, reloading gear, primers, etc. - I seen the pictures of the toys!

 

[Hobo Hilton]

Robinhood to lay off 23% of its workforce, with CEO admitting 'this is on me'

Robinhood Markets Inc. plans to cut its staff by 23%, citing the weakening economic environment and depressed trading activity.

www.marketwatch.com

 

[Bigfatcock]

Robinhood to lay off 23% of its workforce, with CEO admitting 'this is on me'

Robinhood Markets Inc. plans to cut its staff by 23%, citing the weakening economic environment and depressed trading activity.

www.marketwatch.com

That was such a wonderful short.

 

[babyguppy]

damn, 100,000 from Amazon
Geico closing all of CA
Robinhood,
you'd think biden would be keeping a running tab of his economy that's 'Perfect'

 

[Bigfatcock]

Still patiently waiting to buy people’s shit for pennies on the dollar.

 

[Lightning8]

damn, 100,000 from Amazon
Geico closing all of CA
Robinhood,
you'd think biden would be keeping a running tab of his economy that's 'Perfect'

Need to quit looking at "unemployment" and focus instead on "labor participation".

 

[mosin46]

amazon is laying off 100K? maybe (hope) most will be in india. indian phone workers can't do delivery in US.

 

[Emerson0311]

Read "Atlas Shrugged" by Ayn Rand to see how this clown show will turn out.
As we speak, due to Federal Rules and Regulations (not Union contracts) There are not enough certified train engineers and crews to keep trains moving. As you guys travel, note how many trains are sitting and idling on the tracks. Why " Because the crews have run out of hours".... The company shuttles the tired crew off the train and eventually brings out a fresh crew. Trains don't run to a hub and change crews. When the DOT hours are up, the train stops.
A lot of these engineer's are past retirement age and still working... As in Atlas Shrugged the old guy's are getting fed up with the BS and retire.
I'm sure someone will say "Well, just bring in the National Guard to run the trains"... How's that been working out ?
____________________________________
WASHINGTON — Ongoing service problems related to crew shortages on the U.S. Class I railroads are entirely self-inflicted due to the implementation of Precision Scheduled Railroading, the SMART Transportation Division labor union has told federal regulators.


“The freight rail network is at a breaking point,” union President Jeremy Ferguson wrote in an April 1 letter to the Surface Transportation Board. “It cannot sustain any more reductions. Substantial changes must be made, and they must be made quickly. We believe intervention from the STB is critically warranted and necessary to right this ship.”

Union blames train crew shortage on cutbacks related to Precision Scheduled Railroading (updated) - Trains

WASHINGTON — Ongoing service problems related to crew shortages on the U.S. Class I railroads are entirely self-inflicted due to the implementation of Precision Scheduled Railroading, the SMART Transportation Division labor union has told federal regulators. “The freight rail network is at a...

www.trains.com

All-in-one public affairs and government news platform - Bloomberg Government

Federal and state government public affairs software. Get breaking policy news, legislative updates, bill and regulation tracking, and directories.

about.bgov.com

I have a relative that depends on trains to move the product he oversees. He says exactly the same thing about hours, crews, and why rail transport is so slow now.

 

[E. Bryant]

Need to quit looking at "unemployment" and focus instead on "labor participation".

That number has looked like dogshit for the past 20+ years:

 

[babyguppy]

Need to quit looking at "unemployment" and focus instead on "labor participation".

well, that chart won't catch up for a few months. You know the Fed will bury it as long as they can.

 

[Hobo Hilton]

Well, which is it ? Up or down ?
Drink some more Koolaid while the Government redefines "Recession".

Manufacturing Expands at Slowest Pace in Two Years | Transport Topics

U.S. manufacturing activity continued to cool in July as more factories dialed back production in the face of shrinking orders and rising inventories.

www.ttnews.com

U.S. Factory Orders Picked Up Pace in June, Beating Expectations

By Xavier Fontdegloria Manufacturing orders in the U.S. grew in June at a faster pace compared with the previous month, in a sign demand for goods continued...

www.marketwatch.com

 

[Hobo Hilton]

Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says

An economist said the Inflation Reduction Act is an example of deceptive marketing and will exacerbate the pain felt by Americans struggling with inflation.

www.foxnews.com

 

[babyguppy]

Well, which is it ? Up or down ?
Drink some more Koolaid while the Government redefines "Recession".

Manufacturing Expands at Slowest Pace in Two Years | Transport Topics

U.S. manufacturing activity continued to cool in July as more factories dialed back production in the face of shrinking orders and rising inventories.

www.ttnews.com

U.S. Factory Orders Picked Up Pace in June, Beating Expectations

By Xavier Fontdegloria Manufacturing orders in the U.S. grew in June at a faster pace compared with the previous month, in a sign demand for goods continued...

www.marketwatch.com

It was slow, real slow, but not as slow as we thought, so the amount of downturn and slowness, 'beat our expectations' in this 'perfect economy'.

 

[Hobo Hilton]

It was slow, real slow, but not as slow as we thought, so the amount of downturn and slowness, 'beat our expectations' in this 'perfect economy'.

And that line of thinking is going to make 2023 a dismal year as far as the economy goes.... Stagflation is just around the corner.

 

[E. Bryant]

The "good" thing about the current inflationary environment is that the correction factor which is used to go from nominal to real numbers can be adjusted to obtain whatever result anyone wants. I wouldn't put much stock in month-to-month figures for this reason, and quarterly GDP numbers will be suspect for the same reason.

 

[mosin46]

gov still lying. i remember the carter inflation times. a loaf of bread would go up $1/wk. now gas is up 100%,food items 50-80%,electricity 40-60%. none of that is included in gov stats. so,the lying continues and many focus on that and are angry,puzzled,afraid and distracted. the real numbers might get some action but i doubt it.

 

[Hobo Hilton]

The "good" thing about the current inflationary environment is that the correction factor which is used to go from nominal to real numbers can be adjusted to obtain whatever result anyone wants. I wouldn't put much stock in month-to-month figures for this reason, and quarterly GDP numbers will be suspect for the same reason.

But, look at everything that key's off of Government numbers..... Social Security, Medicare, Funds from the different districts (loans)...
The dice are loaded in favor of the Government... Even if they are lying.

 

[babyguppy]

Government has to lie about inflation, if they told the truth, All government entities would be asking for a Cost of living increase (COLA); the gov doesn't want that. Raises are only for Senators and House Reps.
Think of all the SS peeps that are getting hammered right now.

 

[Tempest 455]

Robinhood to lay off 23% of its workforce, with CEO admitting 'this is on me'

Robinhood Markets Inc. plans to cut its staff by 23%, citing the weakening economic environment and depressed trading activity.

www.marketwatch.com

So that's like a couple people?

 

[babyguppy]

Walmart Cuts 200 Corporate Jobs as Costs, Inventory Sap Profit link​

The cuts include staffers in merchandising and technology, said people familiar with the matter, who asked not to be named because the matter is private. Walmart will also add an unspecified number of jobs in areas such as e-commerce, health and wellness, ad sales and supply chain, said one of the people.

 

[Hobo Hilton]

Walmart Cuts 200 Corporate Jobs as Costs, Inventory Sap Profit link​

Layoffs.fyi Tracker​

453 startups w/ layoffs ∙ 62823 employees laid off ∙ 2022

Layoffs.fyi - Tech Layoff Tracker and Startup Layoff Lists

[LIVE] Tracking all tech startup layoffs — and lists of employees laid off — since COVID-19. This page is constantly being updated.

layoffs.fyi

 

[Hobo Hilton]

Old news... but, elimination of a key benchmark of layoff's.
____________

BLS 2013 Sequestration Information​

On March 1, 2013, President Obama ordered into effect the across-the-board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to achieve these savings and protect core programs, the BLS is taking the steps listed below:

1. Eliminate the Measuring Green Jobs products.
   The BLS produces data on employment by industry and occupation for businesses that produce green goods and services. The BLS also conducts special employer surveys to provide data on the occupations and wages of jobs related to green technologies and practices, as well as develops and disseminates career information related to green jobs.
2. Eliminate the Mass Layoff Statistics program.
   The Mass Layoff Statistics program provides information that identifies, describes, and tracks the effects of major job cutbacks in the economy.
3. Eliminate the International Labor Comparisons program.
   The International Labor Comparisons (ILC) program adjusts foreign data to a common framework of concepts, definitions, and classifications to facilitate data comparisons between the United States and other countries. ILC data are used to assess United States economic performance relative to other countries, as well as to evaluate the competitive position of the United States in international markets.
4. Freeze hiring and curtail spending.
   The quality and quantity of some BLS data likely will be diminished, as fewer resources are available to collect and review data or to perform data analysis. This may result in lower response rates, fewer published estimates, and a loss of detail in some data series. The reduced funding level also may result in a decline in customer service, as fewer Federal and State staff will be accessible to respond to data inquiries from the public, other Federal government agencies, and Congress.

Through these measures, the BLS expects to preserve to the extent possible the quality of its remaining products; however, the actions described above will reduce somewhat the ability of the BLS to supply timely and accurate information on the economy and labor market, and halt implementation of critical data improvements that were planned for this year.

Mass Layoff Statistics Home Page : U.S. Bureau of Labor Statistics

Mass Layoff Statistics Home Page

www.bls.gov

 

[babyguppy]

Old news... but, elimination of a key benchmark of layoff's.
____________

BLS 2013 Sequestration Information​

On March 1, 2013, President Obama ordered into effect the across-the-board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to achieve these savings and protect core programs, the BLS is taking the steps listed below:

1. Eliminate the Measuring Green Jobs products.
   The BLS produces data on employment by industry and occupation for businesses that produce green goods and services. The BLS also conducts special employer surveys to provide data on the occupations and wages of jobs related to green technologies and practices, as well as develops and disseminates career information related to green jobs.
2. Eliminate the Mass Layoff Statistics program.
   The Mass Layoff Statistics program provides information that identifies, describes, and tracks the effects of major job cutbacks in the economy.
3. Eliminate the International Labor Comparisons program.
   The International Labor Comparisons (ILC) program adjusts foreign data to a common framework of concepts, definitions, and classifications to facilitate data comparisons between the United States and other countries. ILC data are used to assess United States economic performance relative to other countries, as well as to evaluate the competitive position of the United States in international markets.
4. Freeze hiring and curtail spending.
   The quality and quantity of some BLS data likely will be diminished, as fewer resources are available to collect and review data or to perform data analysis. This may result in lower response rates, fewer published estimates, and a loss of detail in some data series. The reduced funding level also may result in a decline in customer service, as fewer Federal and State staff will be accessible to respond to data inquiries from the public, other Federal government agencies, and Congress.

Through these measures, the BLS expects to preserve to the extent possible the quality of its remaining products; however, the actions described above will reduce somewhat the ability of the BLS to supply timely and accurate information on the economy and labor market, and halt implementation of critical data improvements that were planned for this year.

Mass Layoff Statistics Home Page : U.S. Bureau of Labor Statistics

Mass Layoff Statistics Home Page

www.bls.gov

so much in that last paragraph. Don't want people to be able to track stuff, then people will be able to call out the BS of the Gov statistics

, and halt implementation of critical data improvements
ability of the BLS to supply timely and accurate information on the economy and labor market,

 

[Hobo Hilton]

Gold Bull Peter Schiff Warns That This Recession Is Just Getting Started | OilPrice.com

Gold bull Peter Schiff is warning that this is just the beginning of the recession, despite the Biden administration stating that we are still not in a recession

oilprice.com

 

[Hobo Hilton]

This is about the time, as a recession takes hold, we start reading articles about the "job hopper's" who jump to the next high paying job with all the benefits. After getting settled in the company decides to downsize and ride out the recession.
The risk of being the new guy when the downsize rumor starts to circulate and the previous job offers are withdrawn.
That crappy job you have held for a few years may work out in your best interest.

Deja vu

 

[KZP]

Western Nation Economic Recession, Maersk Shipping Group Forecasts Weak Shipping Demand as Warehouses Fill with Unsold Durable Goods - The Last Refuge

A few months ago, amid all of the headline warnings about inflation and prices of essential products, CTH noted that if we were to continue waiting about six months, we would see a massive backlog of unsold goods and as a consequence the prices of non-essential durable goods would begin a rapid...

theconservativetreehouse.com

 

[Hobo Hilton]

The buyback bogeyman is back. How worried should we be?

Americans may be wondering why they're forced to spend more than $4 per gallon at the pump while energy companies are raking in record profits.

www.cnn.com

 

[E. Bryant]

The buyback bogeyman is back. How worried should we be?

Americans may be wondering why they're forced to spend more than $4 per gallon at the pump while energy companies are raking in record profits.

www.cnn.com

Buybacks generally piss me off. Companies that do this are basically telling me that they have no good ideas for investing capital. I don't like to be associated with such companies. It's especially irritating when companies execute buybacks for a decade or more and then have to beg the federal government for help, as we've recently seen with Intel.

Energy companies are in a different spot, though. I'm sure that Exxon can find plenty of projects on which to spend its recent windfall, but why would they? The current admin has made it clear that they see no future for petroleum in our country. Someone would have to be dumb to reinvest profits in that market, so yeah, go ahead and return the capital to shareholders.

 

[NoDopes]

American economy in a picture.

 

[Hobo Hilton]

In response to decelerating demand late in the second quarter, the company has delayed construction of a new beverage can manufacturing plant in North Las Vegas, and ceased production at its Phoenix, Ariz., and St. Paul, Minn., facilities.

Home - Businesshala News

Businesshala is the part of journalism that tracks, records, analyzes, and interprets the business, economic and financial activities.

businesshala.com

 

[Hobo Hilton]

Some are starting to say "Set the interest rate at the same number as the inflation rate". Great idea except the FED's have the inflation rate set at an artificially low number. The longer the glide pattern, the harder the landing.

Fed’s Mester backs higher interest rates until inflation begins to fade​

 

[Hobo Hilton]

There are people who remember the quick onset of previous recessions. Employer's remember it also. Take the new (lucrative) job in a far away place. Fly in with a suit case, rent a compact car, rent an unfurnished flat (month to month) and get minimum furnishings from RCII. Negotiate with new employer to cover all of your rental expenses. New employer will appreciate hiring a frugal new employee. History repeating.

Rent-A-Center (RCII) Q2 Earnings and Revenues Top Estimates

Rent-A-Center (RCII) delivered earnings and revenue surprises of 15% and 1.15%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

www.yahoo.com

 

[Hobo Hilton]

Beyond Meat cuts revenue outlook, says it's trimming workforce

Beyond Meat on Thursday lowered its revenue forecast for 2022 and announced it will trim its workforce by 4%, citing broader economic uncertainty.

www.cnbc.com

 

[Hobo Hilton]

Block ( Square, Inc.) gathers and sells your consumer purchase info. Obvious the bad news does not pay as well as the good news.

Block stock drops after earnings, as Square's parent company swings to a loss

Shares of Block Inc. fell 7% in after-hours trading Thursday after the payment-technology company swung to a loss in a report that seemed to cause some...

www.marketwatch.com

 

[Hobo Hilton]

New York (CNN Business)The Federal Reserve's war on inflation will eventually kill the economic recovery from Covid-19, former Fed official Bill Dudley warns.
The problem is that the Fed began its quest to tame inflation late, leaving the central bank little choice other than to slam the brakes on the economy by drastically raising interest rates.

Ex-Fed insider: A full-blown recession is 'almost certainly' coming

The Federal Reserve's war on inflation will eventually kill the economic recovery from Covid-19, former Fed official Bill Dudley warns.

www.cnn.com

 

[Hobo Hilton]

This is only going to pick up steam. The trade jobs will start to follow in the next few months

Zillow is expected to continue showing large declines in revenue as it exits the iBuying business and laps the periods in which it frantically sold houses that it bought in too large a quantity and at high prices last year, an effort that included just 71 homes for sale at the end of the second quarter.

Earnings Results: Zillow is almost done selling homes, but stock slumps as the hard part is still to come

Zillow Group Inc. is almost done selling all the homes it bought in a flurry that led to a flameout of its iBuying business, but its plans for the future led...

www.iqstock.news