Recession - 2022 / 2023 / 2024

[Hobo Hilton]

The Government will continue to "exclude" more and more essential items in an effort to fool Americans. Biden says there will be no recession.
_________________________

Wholesale prices rose more than expected in September despite Federal Reserve efforts to control inflation, according to a report Wednesday from the Bureau of Labor Statistics.
The producer price index, a measure of prices that U.S. businesses get for the goods and services they produce, increased 0.4% for the month, compared to the Dow Jones estimate for a 0.2% gain. On a 12-month basis, PPI rose 8.5%, which was a slight deceleration from the 8.7% in August.
Excluding food, energy and trade services, the index increased 0.4% for the month and 5.6% from a year ago, the latter matching the August increase; excluding just food and energy, PPI was flat in September.

Wholesale prices rose 0.4% in September, more than expected as inflation persists

The producer price index was expected to rise 0.2% in September, according to Dow Jones estimates.

www.cnbc.com

 

[babyguppy]

The Government will continue to "exclude" more and more essential items in an effort to fool Americans. Biden says there will be no recession.
_________________________
The producer price index, a measure of prices that U.S. businesses get for the goods and services they produce, increased 0.4% for the month, compared to the Dow Jones estimate for a 0.2% gain. On a 12-month basis, PPI rose 8.5%, which was a slight deceleration from the 8.7% in August.
Excluding food, energy and trade services, the index increased 0.4% for the month and 5.6% from a year ago, the latter matching the August increase; excluding just food and energy, PPI was flat in September.

Wholesale prices rose 0.4% in September, more than expected as inflation persists

The producer price index was expected to rise 0.2% in September, according to Dow Jones estimates.

www.cnbc.com

It always cracks me up, when the Gov removes the 3 biggest things that effect everyday Americans.
They leave mortgages, because most people are locked into a low rate, so it makes stuff look good.

 

[Hobo Hilton]

It always cracks me up, when the Gov removes the 3 biggest things that effect everyday Americans.
They leave mortgages, because most people are locked into a low rate, so it makes stuff look good.

Just goes to show that "The Dumbing of America" was a success.......... Look around, it's not hard to spot.

 

[Hobo Hilton]

Calling inflation “unacceptably high,” Federal Reserve leaders saw their strategy of fighting price pressures aggressively as less risky to the economy than doing too little, minutes of the bank’s last meeting show.
The Fed approved another jumbo-size increase in U.S.interest rates at its Sept. 21-22 meeting. It also signaled plans for another pair of big increases before year end in a surprise to Wall Street

Fed saw 'too much action' vs. high inflation as less risky than 'too little,' minutes show

Calling inflation "unacceptably high," Federal Reserve leaders saw the strategy of fighting price pressures too aggressively as less risky than doing too...

www.marketwatch.com

 

[Hobo Hilton]

World Container Index - 13 Oct​

Drewry’s composite World Container Index decreased by 6% to $3,483.19 per 40ft container this week.

 

[Hobo Hilton]

Heads are starting to roll.

UK Finance Minister Kwasi Kwarteng fired after market chaos and tax-cutting plans

British Finance Minister Kwasi Kwarteng was fired on Friday, amid mounting political pressure and market chaos after less than six weeks in the role.

www.cnbc.com

 

[Hobo Hilton]

Follow the food. Walmart is increasing their customer base as the recession takes hold.

Kroger agrees to buy rival grocery company Albertsons for $24.6 billion

Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco.

www.cnbc.com

 

[Hobo Hilton]

Morgan Stanley reported revenue that fell shy of Wall Street’s expectations for the third quarter as the big bank felt the pinch from a slowdown in investment banking.
Shares of the bank (ticker: MS) fell about 2.5% in premarket trading after the results were released.
The bank reported net revenue of $13 billion in the third quarter of 2022, down from $14.8 billion notched in the same period last year. Wall Street had expected revenue to come in at $13.3

Morgan Stanley’s Investment Banking Business Crumbled. There’s More Bad News.

Revenue at the bank fell short of what Wall Street expected, while earnings were a touch higher than analysts had penciled in.

www.marketwatch.com

 

[lariat]

JPMorgan Chase tops estimates as bank reaps more interest income than expected after jump in rates

JPMorgan Chase on Friday posted results that topped analysts' estimates as the biggest U.S. bank by assets took advantage of rising rates.

www.cnbc.com

They increased bad debt reserves by $800 million.

 

[babyguppy]

Follow the food. Walmart is increasing their customer base as the recession takes hold.

View attachment 7976204

Kroger agrees to buy rival grocery company Albertsons for $24.6 billion

Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco.

www.cnbc.com

Back in the day.. when Walmart got into the grocery business, Walmart mentioned how no one had over 5-7% market share. Walmart believed they could grab 10% easy, by opening up grocery shopping in their Super Centers and corner stores.
As you can see, the % has jumped from 15 years ago. A Kroger and Albertson/Safeway would be a bad thing for consumers.
Walmart grabbing more market share is a bad thing for consumers as well. Walmart does NOT always have the lowest price.
The question I have, Maybe if Safeway lowers a can of Corn Beef Hash from 7 dollars to 5 like Walmart, people might buy the fk'n thing at Safeway/Albertsons.

 

[Hobo Hilton]

At Wells Fargo, CEO Charlie Scharf noted average deposit balances have decreased from the second quarter to the third quarter, but they are still above pre-pandemic levels. There is a segment of customers who are watching their balances “steadily decline” and their balances are now below the pre-pandemic levels, he said.

U.S. bank earnings show consumer finances 'not showing elevated risk concerns'

Prices continue to soar as September inflation data came in higher than expected earlier this week

www.marketwatch.com

 

[babyguppy]

At Wells Fargo, CEO Charlie Scharf noted average deposit balances have decreased from the second quarter to the third quarter, but they are still above pre-pandemic levels. There is a segment of customers who are watching their balances “steadily decline” and their balances are now below the pre-pandemic levels, he said.

U.S. bank earnings show consumer finances 'not showing elevated risk concerns'

Prices continue to soar as September inflation data came in higher than expected earlier this week

www.marketwatch.com

average deposit are above PRE pandemic
BUT..... a 'segment' of customers are below PRE pandemic
so,, a few Big balances are making it appear, not much is happening.
Makes you wonder what Wells Fargo has defined as a 'segment'.
I'd love to run some analysis against their books to get the real truth. My $$ says most with balances below 10K are taking it in the shorts. Those that have the financial means to run up their BIG balances, aren't having to tap their deposits due to their high salaries.

 

[Hobo Hilton]

"Write-downs" always appear as a recession heats us... They can't keep doing this for ever.
NEW YORK, Oct 14 (Reuters) – Citigroup (C.N) took a $110 million writedown on leveraged loans within the third quarter, the corporate stated on Friday as its Wall Street rivals downplayed their exposure to the sector.

- Get Latest News Here

Get Latest News Here

upjobsnews.com

 

[devildog93]

"Write-downs" always appear as a recession heats us... They can't keep doing this for ever.
NEW YORK, Oct 14 (Reuters) – Citigroup (C.N) took a $110 million writedown on leveraged loans within the third quarter, the corporate stated on Friday as its Wall Street rivals downplayed their exposure to the sector.

- Get Latest News Here

Get Latest News Here

upjobsnews.com

Something else I have to dig into to understand. I had never heard of "write downs". Seems slimy on the surface

 

[Hobo Hilton]

Something else I have to dig into to understand. I had never heard of "write downs". Seems slimy on the surface

Similar to an average guy donating an item to the Goodwill Store and taking the donation as a tax deduction. Something that is not worth the time and effort to market and sell.
_________

What Is a Write-Down? ​

A write-down is an accounting term for the reduction in the book value of an asset when its fair market value (FMV) has fallen below the carrying book value, and thus becomes an impaired asset. The amount to be written down is the difference between the book value of the asset and the amount of cash that the business can obtain by disposing of it in the most optimal manner.

Write-Down: Definition in Accounting, When It’s Needed, and Its Impact

A write-down is the reduction in the book value of an asset when its fair market value has fallen below the book value, and thus becomes an impaired asset.

www.investopedia.com

 

[lariat]

Similar to an average guy donating an item to the Goodwill Store and taking the donation as a tax deduction. Something that is not worth the time and effort to market and sell.
_________

What Is a Write-Down? ​

A write-down is an accounting term for the reduction in the book value of an asset when its fair market value (FMV) has fallen below the carrying book value, and thus becomes an impaired asset. The amount to be written down is the difference between the book value of the asset and the amount of cash that the business can obtain by disposing of it in the most optimal manner.

Write-Down: Definition in Accounting, When It’s Needed, and Its Impact

A write-down is the reduction in the book value of an asset when its fair market value has fallen below the book value, and thus becomes an impaired asset.

www.investopedia.com

its nothing like a Goodwill donation. Frequently this isn’t as severe as it seems on the surface. Lots of corporations will have reserve accounts to help offset the write downs. We called it “flushing reserves”. In the financial sector its pretty common.

$110m isn’t much at all for Citibank. The term everyone is missing is that these are leveraged loans - known risky borrowers that are paying higher than average rates. Those loans had a higher than average chance of failing no matter what the economy did. My bet is that most of those businesses had lockbox agreements with Citibank as well. It may be the economy, or it could be a shitty business model that is exposed because of inflation. I’m not sure this move by Citi means anything because of the quality of the loans from the start.

 

[NoDopes]

But, it's the failure rate that is indicative of the coming storm.

Growing fears that Brown's pensions timebomb may be about to explode

The journey to this point began in the late 1990s, when New Labour came to power and Gordon Brown gained control of the nation's purse strings.

www.dailymail.co.uk

 

[babyguppy]

citi group has over 2 Trillion in assets. 100million is a bleep. I'd call it daily accounting.
now, what that can mean is, with the economy, somebody tried to gamble a little bit and lost. the assets didn't appreciate but depreciated.
Did a Russian businessman lose a yacht? Was it on the books for 300 million and the gov sold it for 200 million, thus the bv 300 vs face value 200 = 100 million write off
too early to do math, but 100 m on 2 trillion is like = (.0005%) of their assets

 

[Hobo Hilton]

its nothing like a Goodwill donation. Frequently this isn’t as severe as it seems on the surface. Lots of corporations will have reserve accounts to help offset the write downs. We called it “flushing reserves”. In the financial sector its pretty common.

$110m isn’t much at all for Citibank. The term everyone is missing is that these are leveraged loans - known risky borrowers that are paying higher than average rates. Those loans had a higher than average chance of failing no matter what the economy did. My bet is that most of those businesses had lockbox agreements with Citibank as well. It may be the economy, or it could be a shitty business model that is exposed because of inflation. I’m not sure this move by Citi means anything because of the quality of the loans from the start.

Citi could still make a profit from these loans being "re-insured"... We will probably never know.

 

[lariat]

Citi could still make a profit from these loans being "re-insured"... We will probably never know.

Explain how that would work.

 

[Hobo Hilton]

The borrower pays a hefty fee to get that kind of loan. Some of the fee is interest and a portion of that fee purchases "insurance" should the loan fail. When the big California fires took place several years ago the insurance companies put out information on how many billions of dollars they would hand out in claims. I shorted the insurance companies... When the smoke cleared the insurance companies made a profit because the reinsurance money came in and it was more than the claims they paid out. Their stock price went up dramatically within a couple of weeks. I paid for that lesson on how "reinsurance" works. Keep watching as the recession takes hold and loans go into default.

Reinsurance Definition, Types, and How It Works

Reinsurance is insurance for insurance companies. It results from one or more insurers assuming another insurance company's risk portfolio to try to balance the insurance market.

www.investopedia.com

 

[lariat]

The borrower pays a hefty fee to get that kind of loan. Some of the fee is interest and a portion of that fee purchases "insurance" should the loan fail. When the big California fires took place several years ago the insurance companies put out information on how many billions of dollars they would hand out in claims. I shorted the insurance companies... When the smoke cleared the insurance companies made a profit because the reinsurance money came in and it was more than the claims they paid out. Their stock price went up dramatically within a couple of weeks. I paid for that lesson on how "reinsurance" works. Keep watching as the recession takes hold and loans go into default.

Reinsurance Definition, Types, and How It Works

Reinsurance is insurance for insurance companies. It results from one or more insurers assuming another insurance company's risk portfolio to try to balance the insurance market.

www.investopedia.com

That is insurance for insurance companies for them to remain solvent during periods of huge payouts (natural disasters), not lending companies.

 

[Hobo Hilton]

That is insurance for insurance companies for them to remain solvent during periods of huge payouts (natural disasters), not lending companies.

Lending companies have the same tools available to them,

Protequity allows the lender to increase the loan-to-value ratio on equity (HELOC) and other second mortgage loans, including piggy-back mortgages. If your standard loan underwriting guidelines require 20% equity, Protequity will allow you to lend more money, while insuring your institution against default risk.

 

[lariat]

Lending companies have the same tools available to them,

Protequity allows the lender to increase the loan-to-value ratio on equity (HELOC) and other second mortgage loans, including piggy-back mortgages. If your standard loan underwriting guidelines require 20% equity, Protequity will allow you to lend more money, while insuring your institution against default risk.

What you just referenced was for mortgages, not the stressed businesses and leveraged loans as the original article details.

 

[Hobo Hilton]

What you just referenced was for mortgages, not the stressed businesses and leveraged loans as the original article details.

OK... I give up........ Every lender has safeguards in place to protect themselves.. If not they would have all gone broke a long time ago.

 

[babyguppy]

OK... I give up........ Every lender has safeguards in place to protect themselves.. If not they would have all gone broke a long time ago.

they have a rich uncle named Sam.. he bails their asses out

 

[lariat]

OK... I give up........ Every lender has safeguards in place to protect themselves.. If not they would have all gone broke a long time ago.

My point: 2008 showed us that the FED is actually the insurer of last resort. No matter what else is going on, if the bank is big enough and the problem looks to cause systemic problems the Fed might just put it on its books or work a deal to have other banks take part of the exposure and spread it across other healthier banks. LCTM was a big one, then all of the investment pools that went south that are on the Fed balance sheet. They are backstopping everything, which means WE are the insurers for these poor loans.

 

[harleyman1974]

Google

Search the world's information, including webpages, images, videos and more. Google has many special features to help you find exactly what you're looking for.

www.google.com

I vote primers!

They cost as much as gold and silver per ounce... Like gold and silver, they are a rare commodity.

The economy is doing great!
Just look at the layoffs coming.

layoffs - Google Search

 

[lariat]

they have a rich uncle named Sam.. he bails their asses out

Bingo.

 

[babyguppy]

OK... I give up........ Every lender has safeguards in place to protect themselves.. If not they would have all gone broke a long time ago.

and to your point as well -
There are secondary markets where the bank sells off the loans or they use derivatives.
I know derivatives was a sticky situation back in the balloon days, since the defaults can snowball to other banks; since most banks didn't know who had what in the derivatives they were holding as security.

 

[lariat]

and to your point as well -
There are secondary markets where the bank sells off the loans or they use derivatives.
I know derivatives was a sticky situation back in the balloon days, since the defaults can snowball to other banks; since most banks didn't know who had what in the derivatives they were holding as security.

The secondary markets and dark pools were a huge part of the shit show back then. I remember that there were even lawsuits by debtors that said their contract didn't authorize the resale of the loan; not only did they not know who to pay the installments to but also were not obligated to pay. It seems like everything went sideways back then. And to be fair, who knows where we would be if the Fed had not stepped in.

 

[Hobo Hilton]

and to your point as well -
There are secondary markets where the bank sells off the loans or they use derivatives.
I know derivatives was a sticky situation back in the balloon days, since the defaults can snowball to other banks; since most banks didn't know who had what in the derivatives they were holding as security.

Here is a first hand example:

Here’s how Orange County went broke 25 years ago

It didn’t matter that Citron had no background in accounting or investing. Or that he had never owned a single share of stock.

www.ocregister.com

 

[Hobo Hilton]

Saw this and asked a friend who works on tugs and barges. Here’s his take.
View attachment 7973756
A lot of these stories are bullshit. I keep seeing a story about a General Mills plant destroyed by a plane crash. Yeah a plane crashed on the property. The plant was not damaged.
View attachment 7973757
I’ll try to copy and paste the video. It shows plenty of traffic.

Not seeing any weather info on the levels rising...

Drying Mississippi River Threatens U.S. Supply Chain

Shipping and tourism businesses that rely on the river are seeking alternatives as barges are grounded and prices skyrocket as water levels haven’t been this low in more than three decades.

www.wsj.com

 

[Hobo Hilton]

It's almost impossible to find a CEO who isn't bracing for a recession

Nearly all the chief executives in a new survey — 98% — say they're getting their ducks in a row for an impending economic downturn in the United States.

www.mprnews.org

 

[Hobo Hilton]

You can bet Intel will not be laying off any "Green Card" workers...
_________
Intel Corp. is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation.
The layoffs will be announced as early as this month, with the company planning to make the move around the same time as its third-quarter earnings report on Oct. 27, said the people, who asked not to be identified because the deliberations are private. The chipmaker had 113,700 employees as of July.

Intel Plans to Lay Off Thousands of Employees As the Chipmaker Looks to Trim Costs

The layoffs will be announced as early as this month, to cut costs and cope with a sputtering personal-computer market.

time.com

 

[babyguppy]

You can bet Intel will not be laying off any "Green Card" workers...
_________
Intel Corp. is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation.
The layoffs will be announced as early as this month, with the company planning to make the move around the same time as its third-quarter earnings report on Oct. 27, said the people, who asked not to be identified because the deliberations are private. The chipmaker had 113,700 employees as of July.

Intel Plans to Lay Off Thousands of Employees As the Chipmaker Looks to Trim Costs

The layoffs will be announced as early as this month, to cut costs and cope with a sputtering personal-computer market.

time.com

white men go to the top of the list
Must keep the diversity; Remember, they are goals, not quotas...

 

[Hobo Hilton]

Mike Rowe warns shortage of skilled workers is an 'enormous problem': 'We've got to do something about it'

FOX Business host Mike Rowe stressed the need for blue-collar workers, saying the demand is at its highest as Americans battle a rising cost of living.

www.foxnews.com

 

[Bradu]

Mike Rowe warns shortage of skilled workers is an 'enormous problem': 'We've got to do something about it'

FOX Business host Mike Rowe stressed the need for blue-collar workers, saying the demand is at its highest as Americans battle a rising cost of living.

www.foxnews.com

Wages need to go up considerably for skilled workers. It was bad enough before the $15 minimum wage shit, then they talk about $22 for fast food workers. Not much incentive to better yourself. I've seen fast food places advertise more money to start than several carpentry, welding, and mechanic positions are offering in my area. I get that you can't start someone with no experience at top dollar, but they are going to have to do something different.

 

[Hobo Hilton]

A "Trifecta"....

Mississippi River water woes, retail overstock trailers: Latest supply chain stresses for economy

The supply chain has improved, but from a Mississippi River running low to retailers running out of storage and congested ports, the U.S. has transport issues.

www.cnbc.com

 

[Hobo Hilton]

Wages need to go up considerably for skilled workers. It was bad enough before the $15 minimum wage shit, then they talk about $22 for fast food workers. Not much incentive to better yourself. I've seen fast food places advertise more money to start than several carpentry, welding, and mechanic positions are offering in my area. I get that you can't start someone with no experience at top dollar, but they are going to have to do something different.

You are correct.. I said that years ago when there was a shortage of truck drivers. Pay a higher wage and people will gravitate to those jobs. It is really not that complicated.
Unfortunately, simply paying higher wages is going to continue to drive up inflation.
The FED Reserve (Jerome Powell) is pushing the country farther into this recession saying it will control inflation.
This administration is spending money like no other administration has done. They are handing out "Free Money" in one form or another.

When An Unstoppable Force Meets an Immovable Object

 

[lariat]

Wages need to go up considerably for skilled workers. It was bad enough before the $15 minimum wage shit, then they talk about $22 for fast food workers. Not much incentive to better yourself. I've seen fast food places advertise more money to start than several carpentry, welding, and mechanic positions are offering in my area. I get that you can't start someone with no experience at top dollar, but they are going to have to do something different.

But where are those increased wages going to come from when the input costs are also increasing faster than you can quote jobs, let alone start them so you can start billing? Some of the quotes I am getting now have a clause that they are only good for that day, others are 24 and 48 hours. And the changes are never to the downside. Some material is flat unavailable in the market and not projected to make a return. It is entirely feasible that you can start a job profitable and end it unprofitable based on input prices alone - ask those who secured long term contracts how dangerous this environment is. About the best thing I have seen do is to fire the weakest among the herd and disburse the payroll across the remaining troops, but you can't do that forever. Those fast food restaurants have such volume that they can absorb higher cost of raw product (that they negotiate cheaper than anyone else can to begin with) and spread it across more product. That's not feasible everywhere - if it were we wouldn't have this issue.

The layoffs are coming all around. At this point it is unavoidable.

 

[Bradu]

But where are those increased wages going to come from when the input costs are also increasing faster than you can quote jobs, let alone start them so you can start billing? Some of the quotes I am getting now have a clause that they are only good for that day, others are 24 and 48 hours. And the changes are never to the downside. Some material is flat unavailable in the market and not projected to make a return. It is entirely feasible that you can start a job profitable and end it unprofitable based on input prices alone - ask those who secured long term contracts how dangerous this environment is. About the best thing I have seen do is to fire the weakest among the herd and disburse the payroll across the remaining troops, but you can't do that forever. Those fast food restaurants have such volume that they can absorb higher cost of raw product (that they negotiate cheaper than anyone else can to begin with) and spread it across more product. That's not feasible everywhere - if it were we wouldn't have this issue.

The layoffs are coming all around. At this point it is unavoidable.

We all know that not everyone can afford to pay more, especially the smaller companies. There are plenty of larger businesses that can pay more but choose not to for whatever reasons. They seem to prefer trying to train cheap, unskilled labor and deal with a high turnover rate versus paying a few dollars an hour more for quality help. I can tell you that the repair costs on equipment and trucks from unskilled help costs far more than a few bucks an hour. Damages from shit drivers/operators and downtime from incompetent mechanics adds up quick.

 

[Emerson0311]

Mike Rowe warns shortage of skilled workers is an 'enormous problem': 'We've got to do something about it'

FOX Business host Mike Rowe stressed the need for blue-collar workers, saying the demand is at its highest as Americans battle a rising cost of living.

www.foxnews.com

I’ve recently reentered my original trade after 14 years in a sub section of it. Turns out, companies with millions in assets are losing business worth 10’s of thousands a day because they can’t find bums to sit in seats and then write invoices for them.

 

[Emerson0311]

We all know that not everyone can afford to pay more, especially the smaller companies. There are plenty of larger businesses that can pay more but choose not to for whatever reasons. They seem to prefer trying to train cheap, unskilled labor and deal with a high turnover rate versus paying a few dollars an hour more for quality help. I can tell you that the repair costs on equipment and trucks from unskilled help costs far more than a few bucks an hour. Damages from shit drivers/operators and downtime from incompetent mechanics adds up quick.

And their impact on client’s spending decisions are huge. $10/hr more buys a lot of experience.

 

[Emerson0311]

But where are those increased wages going to come from when the input costs are also increasing faster than you can quote jobs, let alone start them so you can start billing? Some of the quotes I am getting now have a clause that they are only good for that day, others are 24 and 48 hours. And the changes are never to the downside. Some material is flat unavailable in the market and not projected to make a return. It is entirely feasible that you can start a job profitable and end it unprofitable based on input prices alone - ask those who secured long term contracts how dangerous this environment is. About the best thing I have seen do is to fire the weakest among the herd and disburse the payroll across the remaining troops, but you can't do that forever. Those fast food restaurants have such volume that they can absorb higher cost of raw product (that they negotiate cheaper than anyone else can to begin with) and spread it across more product. That's not feasible everywhere - if it were we wouldn't have this issue.

The layoffs are coming all around. At this point it is unavoidable.

The other elephant in the jobs/employees room is that experience takes time to build. I have a brand new apprentice in my trade that has 15 years in a related trade and all the personal qualities to be great operator. All he needs is a couple years of experience that we don’t have the time to wait for right now. He is the best case scenario apprentice; most will need a lot more time. He will stay on the pay roll, but we could use him in the seat yesterday.

 

[Hobo Hilton]

“This is the sharpest turn in the housing market since the housing market crash in 2008,” said Redfin’s chief economist, Daryl Fairweather, last month.

https://www.cnn.com/2022/10/17/investing/premarket-trading-stocks/index.html

 

[Bigfatcock]

“This is the sharpest turn in the housing market since the housing market crash in 2008,” said Redfin’s chief economist, Daryl Fairweather, last month.

https://www.cnn.com/2022/10/17/investing/premarket-trading-stocks/index.html

I have my eye on a couple of properties.

 

[eca7891]

Might not exactly fit here but.

We are fucked.

https://www.americanpartisan.org/20...move-away-from-us-with-explosive-consequence/

The only thing I see to stopping this is the fed to continue to raise interest rates until the economies supporting this are crushed.

The news predicted 8.5% mortgage rate. I’ll guess 10%+. If the fed intends to crush these competing economies it will go higher.

Collapsing these countries could very well trigger more wars.

That’s the sunshine for today. Enjoy!

 

[Bradu]

And their impact on client’s spending decisions are huge. $10/hr more buys a lot of experience.

I’ve recently reentered my original trade after 14 years in a sub section of it. Turns out, companies with millions in assets are losing business worth 10’s of thousands a day because they can’t find bums to sit in seats and then write invoices for them.

The amount of work that is lost due to poor quality, lack of help, and missed deadlines is a lot more than most realize. Now deadlines are more of a struggle because of parts and material shortages.

 

[Hobo Hilton]

The amount of work that is lost due to poor quality, lack of help, and missed deadlines is a lot more than most realize. Now deadlines are more of a struggle because of parts and material shortages.

This is a very bad situation with no "light at the end of the tunnel". Countries that are considered enemies of America can design, build and complete mega projects in half the time the same project would take in America. It takes over 10 years for America to build and get an aircraft carrier into service (USS Gerald Ford). Companies with expansion plans on the drawing board are delaying construction.