Recession - 2022 / 2023 / 2024

[babyguppy]

As the recession takes hold there seems to be more used cars on the market... A lot of them were repaired with cheap parts to simply get them sold. Doing some repairs to my Ford F-250. Clutch slave cylinder on the left is Ford OEM and the one on the right is the best quality after market I could find. OEM is twice as expensive as aftermarket.
View attachment 8046720
View attachment 8046722
I removed an after market. It lasted about half as long as an OEM.
This is what "We the People" will be up against this year... People will be trying to get by with a used car purchase. Many times the previous repairs (to make it saleable) were done with cheap parts. Let the buyer beware.

right here .....after market. It lasted about half as long as an OEM.
how long you planning on keeping it? how much you want to spend.
If I'm keeping my cars; I'm using OEM every time.

 

[babyguppy]

Not sure if this got posted..
If you don't like the numbers, REdefine Redefine Redefine; until you do...

Alternate Inflation Charts

www.shadowstats.com

 

[Hobo Hilton]

Had some interesting thoughts while sipping my first cup of coffee for the new week.
Over the past 7 months I bristled when one of the, so called, experts argued that "maybe this is not a recession"... or... "these conditions don't fit the frame work"... Perhaps my frustration was because they did not have a name or a label for what "We the People" were experiencing and attempting to deal with.
Suppose they would have stated this is not a recession. But, it is obviously a worldwide, financial anomaly ?
A deviation from a rule or from what is regarded as normal; an outlier. abnormality, deviance, deviation, exception, inconsistency, irregularity, phenomenon
At that moment there would be no experts.... And therein lies the problem.
Every adult in America is learning this recession is "different". It is starting to resemble a "resistance band" similar to the colored physical therapy bands.

The more actions a working middle class family takes to defeat this financial anomaly, the more resistance is increased.... The more they cut back on groceries, vehicle expenses, insurance...... The more the prices go up.

Perhaps the experts are correct. This is not a recession...... What is it?

If this is not a recession, what is it ? - Google Search

 

[Lightning8]

2023 will become a game of "Musical Chairs" for the young job hoppers... When the music stops in September those will not have the resources to buy a job.
_____________

96% of workers are looking for a new job in 2023:​

96% of workers are looking for a new job in 2023, poll says: What to know before you job hop

A whopping 96% of workers are looking for a new position in 2023, largely in search of better pay, according to a recent report by Monster.com.

www.cnbc.com

Change jobs every 18 months = teflon kid. Stayed just long enough to claim success but not long enough to actually do anything that can be measured. Expect 10-15% pay increase every jump, end up C suite soon enough. Never become competent at anything but LinkedIn.

 

[Hobo Hilton]

Float Plane Pilots are Aging Out​

This headline caught my attention. Seems the lifestyle many would like to escape to is becoming more difficult and expensive. Yet another occupation young people show no interest in.

Float Plane Pilots are Aging Out

off-road, off-grid, remote Alaska bush cabin telecommuters

alaskauu1.blogspot.com

 

[Hobo Hilton]

‘The global economy is in a precarious position,” WEF managing director Saadia Zahidi has declared. According to Zahidi, the investments necessary to boost economic growth and avoid such an economic contraction will be hampered by the current high inflation, high debt, low growth and high fragmentation environment.

Davos Leaders: Global Recession ‘Likely’ To Happen In 2023 | OilPrice.com

A full two-thirds of senior corporate and business leaders meeting at the 2023 World Economic Forum (WEF) in Davos, Switzerland, expect a global recession in the current year

oilprice.com

 

[Hobo Hilton]

right here .....after market. It lasted about half as long as an OEM.
how long you planning on keeping it? how much you want to spend.
If I'm keeping my cars; I'm using OEM every time.

An FYI........ Talked to one of the large Ford dealers in my area. Attempted to buy a plain old flywheel for my ford F-250..... Ford parts counter say's "that part was discontinued and is no longer available"... and by the way the bolts that attach the flywheel to the crank are no longer available. Neither are the bolts that hold the pressure plate to the flywheel.... Any available aftermarket part comes from China... The parts guy could not even tell me where he was getting parts for warranty work...
The plot thickens... those OEM parts will be like hen's teeth, even used parts that can be rebuilt or resurfaced... A rebuilt OEM part will still have a longer service life than an aftermarket part from China.

 

[Alpine 338]

An FYI........ Talked to one of the large Ford dealers in my area. Attempted to buy a plain old flywheel for my ford F-250..... Ford parts counter say's "that part was discontinued and is no longer available"... and by the way the bolts that attach the flywheel to the crank are no longer available. Neither are the bolts that hold the pressure plate to the flywheel.... Any available aftermarket part comes from China... The parts guy could not even tell me where he was getting parts for warranty work...
The plot thickens... those OEM parts will be like hen's teeth, even used parts that can be rebuilt or resurfaced... A rebuilt OEM part will still have a longer service life than an aftermarket part from China.

Might have to buy two or three of the same model just to keep one running.

 

[Hobo Hilton]

Might have to buy two or three of the same model just to keep one running.

Without a doubt... Stock up on oil / grease / fuel/ fan belts / radiator hoses, oil filters, etc....
As you need vehicles, consider buying the same manufacturer, model, etc.
You can kick around on this site while looking for a "parts car"

https://www.copart.com/

 

[devildog93]

An FYI........ Talked to one of the large Ford dealers in my area. Attempted to buy a plain old flywheel for my ford F-250..... Ford parts counter say's "that part was discontinued and is no longer available"... and by the way the bolts that attach the flywheel to the crank are no longer available. Neither are the bolts that hold the pressure plate to the flywheel.... Any available aftermarket part comes from China... The parts guy could not even tell me where he was getting parts for warranty work...
The plot thickens... those OEM parts will be like hen's teeth, even used parts that can be rebuilt or resurfaced... A rebuilt OEM part will still have a longer service life than an aftermarket part from China.

I was hoping cnc machines and 3d metal printers would help on older parts.

 

[fpgt72]

Not sure if this got posted..
If you don't like the numbers, REdefine Redefine Redefine; until you do...

Alternate Inflation Charts

www.shadowstats.com

I always say you can make statistics say whatever you want. You just need to play with your data a bit. It is not false or fake or lies, just using different "numbers".

 

[fpgt72]

An FYI........ Talked to one of the large Ford dealers in my area. Attempted to buy a plain old flywheel for my ford F-250..... Ford parts counter say's "that part was discontinued and is no longer available"... and by the way the bolts that attach the flywheel to the crank are no longer available. Neither are the bolts that hold the pressure plate to the flywheel.... Any available aftermarket part comes from China... The parts guy could not even tell me where he was getting parts for warranty work...
The plot thickens... those OEM parts will be like hen's teeth, even used parts that can be rebuilt or resurfaced... A rebuilt OEM part will still have a longer service life than an aftermarket part from China.

When I hit a deer a few months back I needed a new AC condenser, as well as new radiator. After market. I was not too good with that I wanted HONDA parts, that is what came off that is what I want back on. Insurance fought me, said I would pay the diff, no I will not. Then it became a well it is not available. Ok I will wait. The Ins company tells the repair shop to order after marked. I had talked to the gal in the office and she knew my stand on all this. I told her don't put that stuff on my car. She told me they can't. The aftermarket parts came in and they would not fit, they talked about "modifying" my car so these "new" parts would fit. She stopped them.

Took about an extra month to get the parts, but I am glad I waited.

In a related story I hit a deer in my Ford, I have also hit a deer on a Kawasaki, going to work at O'dark thirty will do that. Needed the same parts on the ford replaced. They used aftermarket, not happy about that as well. The car always smelled like anti-freeze burning, but it was never low. Sold it off just not good feelings about it....got great gas mileage however.

The story the gal told me is there are some parts that must be OEM, like seatbelts. I did not know those are a one and done just like airbags. The self tighten belts in the Honda Accord (not an uncommon car) where on a 6 month back order when I was waiting the extra month for my parts. She said it was safety related and the after market would need to test the belts in that car or some such thing. Not sure if that is accurate or not but it does ring true.

 

[Hobo Hilton]

I was hoping cnc machines and 3d metal printers would help on older parts.

IDK.... Seems the Chinese are the one's moving in that direction. Finding an American who wants to learn a trade is a challenge.

 

[fpgt72]

I was hoping cnc machines and 3d metal printers would help on older parts.

IDK.... Seems the Chinese are the one's moving in that direction. Finding an American who wants to learn a trade is a challenge.

I watch the Jay Leno YT channel, where he does a little blip on his cars, I am a car nut and if I had his money I would not have his money because I would have spent it all on cars.

Anyhoo, in one of his videos he is talking about needing a part for one of his old cars, something they made like 100 of and there are 2 left. He needed an intake or something to that effect. They 3D scanned the part, printed it out of plastic, then used the plastic to make a mold so they could make a new part. Really amazing.

I can see this being a very small market. Most of cars like this are going to be in a museum somewhere where they are never used. I like him because he uses his cars, he drives them. The chrysler turbine, I think his is the only one that runs, and he drives it on public streets, I just love that. Use the car.

As to the american comment, they do exist. But they are not that common. I saw a Mike Rowe interview a while ago. He said with anything anyone thinks of there is one question that is going to have to be asked......Who is going to build it.

That is the one hole no one is looking at, sure I can do plumbing in my house, electrical, hang drywall.....on and on. But I have no idea how to build a sewage treatment plant, work on a transformer station, or build a factory. He always talks of a "skills gap". This is what it going to hit this country, and western countries right between the eyes. And it will not be until some "NWO type" flushes and it comes back up that they will see a problem. They will get on the phone (provided it works) and find out the person to fix it can come out two months from now. Then they will see a problem.

 

[devildog93]

I watch the Jay Leno YT channel, where he does a little blip on his cars, I am a car nut and if I had his money I would not have his money because I would have spent it all on cars.

Anyhoo, in one of his videos he is talking about needing a part for one of his old cars, something they made like 100 of and there are 2 left. He needed an intake or something to that effect. They 3D scanned the part, printed it out of plastic, then used the plastic to make a mold so they could make a new part. Really amazing.

I can see this being a very small market. Most of cars like this are going to be in a museum somewhere where they are never used. I like him because he uses his cars, he drives them. The chrysler turbine, I think his is the only one that runs, and he drives it on public streets, I just love that. Use the car.

As to the american comment, they do exist. But they are not that common. I saw a Mike Rowe interview a while ago. He said with anything anyone thinks of there is one question that is going to have to be asked......Who is going to build it.

That is the one hole no one is looking at, sure I can do plumbing in my house, electrical, hang drywall.....on and on. But I have no idea how to build a sewage treatment plant, work on a transformer station, or build a factory. He always talks of a "skills gap". This is what it going to hit this country, and western countries right between the eyes. And it will not be until some "NWO type" flushes and it comes back up that they will see a problem. They will get on the phone (provided it works) and find out the person to fix it can come out two months from now. Then they will see a problem.

This is apparent everywhere. Higher ups are letting sme's retire without training up replacements. Guys who have been cradle to grave on a telecom or other electronics system are retiring and not being replaced by anything comparable. To add to the problem they are being coaxed into teaching more and more systems. They are going to a jack of all trades model to make shuffling people around easier. Anyone can teach or maintain any system. This is similar to what i've seen done with engineers and asking them to do all engineering jobs no matter what they are trained for. This leads to burnout, turnover, and then your skills gap rears it's ugly head.

So when does this become a problem that has to be addressed? I have no idea. Our working standard can keep dropping until there is a public outrage of some sort or until they actually break the system by trying to have monkeys run the systems. This actually seems like idiocracy in action for real. The dumbing down of the work force on purpose for ease of management and to save money. I guess we will see how that goes.

 

[Hobo Hilton]

I am not seeing any declines, But, you know, if "The Government" says it's declining I guess the sheeple will believe it.
______________


Prices for wholesale goods and services fell sharply in December, providing another sign that inflation, while still high, is beginning to ease.
The producer price index, which measures final demand prices across hundreds of categories, declined 0.5% for the month, the Labor Department reported Wednesday. Economists surveyed by Dow Jones had been looking for a 0.1% decline.
Excluding food and energy, the core PPI measure rose 0.1%, matching the estimate.

Wholesale prices fell 0.5% in December, much more than expected

The producer price index was expected to decrease 0.1% in December, according to Dow Jones estimates.

www.cnbc.com

 

[Hobo Hilton]

Hmmmm

Microsoft is laying off 10,000 employees

Microsoft said it's letting go of 10,000 employees and taking a $1.2 billion charge as the software maker braces for slower top-line growth.

www.cnbc.com

 

[Emerson0311]

I watch the Jay Leno YT channel, where he does a little blip on his cars, I am a car nut and if I had his money I would not have his money because I would have spent it all on cars.

Anyhoo, in one of his videos he is talking about needing a part for one of his old cars, something they made like 100 of and there are 2 left. He needed an intake or something to that effect. They 3D scanned the part, printed it out of plastic, then used the plastic to make a mold so they could make a new part. Really amazing.

I can see this being a very small market. Most of cars like this are going to be in a museum somewhere where they are never used. I like him because he uses his cars, he drives them. The chrysler turbine, I think his is the only one that runs, and he drives it on public streets, I just love that. Use the car.

As to the american comment, they do exist. But they are not that common. I saw a Mike Rowe interview a while ago. He said with anything anyone thinks of there is one question that is going to have to be asked......Who is going to build it.

That is the one hole no one is looking at, sure I can do plumbing in my house, electrical, hang drywall.....on and on. But I have no idea how to build a sewage treatment plant, work on a transformer station, or build a factory. He always talks of a "skills gap". This is what it going to hit this country, and western countries right between the eyes. And it will not be until some "NWO type" flushes and it comes back up that they will see a problem. They will get on the phone (provided it works) and find out the person to fix it can come out two months from now. Then they will see a problem.

And they will be prompted to blame us conspiracy theorists for it.

 

[babyguppy]

Hmmmm

Microsoft is laying off 10,000 employees

Microsoft said it's letting go of 10,000 employees and taking a $1.2 billion charge as the software maker braces for slower top-line growth.

www.cnbc.com

There coming.. can you hear em....

 

[Hobo Hilton]

I watch the Jay Leno YT channel, where he does a little blip on his cars, I am a car nut and if I had his money I would not have his money because I would have spent it all on cars.

Anyhoo, in one of his videos he is talking about needing a part for one of his old cars, something they made like 100 of and there are 2 left. He needed an intake or something to that effect. They 3D scanned the part, printed it out of plastic, then used the plastic to make a mold so they could make a new part. Really amazing.

I can see this being a very small market. Most of cars like this are going to be in a museum somewhere where they are never used. I like him because he uses his cars, he drives them. The chrysler turbine, I think his is the only one that runs, and he drives it on public streets, I just love that. Use the car.

As to the american comment, they do exist. But they are not that common. I saw a Mike Rowe interview a while ago. He said with anything anyone thinks of there is one question that is going to have to be asked......Who is going to build it.

That is the one hole no one is looking at, sure I can do plumbing in my house, electrical, hang drywall.....on and on. But I have no idea how to build a sewage treatment plant, work on a transformer station, or build a factory. He always talks of a "skills gap". This is what it going to hit this country, and western countries right between the eyes. And it will not be until some "NWO type" flushes and it comes back up that they will see a problem. They will get on the phone (provided it works) and find out the person to fix it can come out two months from now. Then they will see a problem.

I enjoy working on old stuff. Some by necessity, some by having a mechanical interest. I chuckled while working on old Caterpillar equipment. An apprentice bought himself a new set of SnapOn combination wrenches and 1/2" impact sockets. One of the old field service mechanics walked over and pulled the 11/16", 13/16" and 15/16" sockets out of the set and told the apprentice "Put these away, on the old CAT equipment, you don't need them"..... Years later I looked at those sizes in my drop front tool box and was reminded he was correct. They still had the factory finish on them.

Today, I surveyed the tools I have on my bench while working on a Ford truck.
Full set of SAE combination wrenches and sockets
Full set of Metric sockets and combination wrenches
Torx drivers
Allen wrenches , Metric and SAE
Adapters (both ways) 3/8 to 1/2, 1/4 to 3/8, 1/2 to 3/8
Screw drivers, both Phillips and Straight
And a tool tray of other needed tools....

And we wonder why the country is bogged down and no young person wants to pull wrenches for a living.
A ZF 5 trans exchange is $2,500 +/-... $500 in parts and $2,000 in labor... I know there are always "Exceptions to the Rules"

 

[Hobo Hilton]

I often "read between the lines" of articles. Getting obvious that these reporters are spinning yarns in an effort to save their jobs.
___________
Diana Olick is an Emmy Award-winning journalist, currently serving as CNBC’s senior climate and real estate correspondent. She also contributes her climate and real estate expertise to NBC News NOW, MSNBC, NBC’s “Today” and “NBC Nightly News.” She is a regular guest speaker and does guest segments on NPR and C-SPAN. Her work on CNBC.com won the Gracie Award for “Outstanding Blog” in 2015.

Homebuilder sentiment rises in January for the first time in a year, thanks to lower mortgage rates

Lower mortgage rates are giving homebuilders greater confidence in the single-family housing market.

www.cnbc.com

 

[babyguppy]

I enjoy working on old stuff. Some by necessity, some by having a mechanical interest. I chuckled while working on old Caterpillar equipment. An apprentice bought himself a new set of SnapOn combination wrenches and 1/2" impact sockets. One of the old field service mechanics walked over and pulled the 11/16", 13/16" and 15/16" sockets out of the set and told the apprentice "Put these away, on the old CAT equipment, you don't need them"..... Years later I looked at those sizes in my drop front tool box and was reminded he was correct. They still had the factory finish on them.

Today, I surveyed the tools I have on my bench while working on a Ford truck.
Full set of SAE combination wrenches and sockets
Full set of Metric sockets and combination wrenches
Torx drivers
Allen wrenches , Metric and SAE
Adapters (both ways) 3/8 to 1/2, 1/4 to 3/8, 1/2 to 3/8
Screw drivers, both Phillips and Straight
And a tool tray of other needed tools....

And we wonder why the country is bogged down and no young person wants to pull wrenches for a living.
A ZF 5 trans exchange is $2,500 +/-... $500 in parts and $2,000 in labor... I know there are always "Exceptions to the Rules"

Ford changes and redesigns stuff that require 'special' tools. Ford then changes these every few years, so Ford can patent the tools and force people to buy new special tools.

 

[Hobo Hilton]

A sign of the times for companies trying to stay afloat. JBHT has been watching events unfold in Europe / UK...
The price increases over the past several months are here to stay... Transportation / freight are one of them that are here to stay.
EDIT:
A bit of after thought... We discuss the "Stock buyback" moves some companies have been making. Here is a company that took cash and invested it in employees. I think it will pay off. Why ? Because stock holders are fickle and will drop JBHT when the price per share goes down. Those valuable employees will stick with a company that shows some appreciation.

JMHO
_____________
LOWELL, Ark. (KNWA/KFTA) — J.B. Hunt Transport Services announced Wednesday that its subsidiary, J.B. Hunt Transport, will award appreciation bonuses for the second year in a row.
A news release announced the bonuses will go to full-time company drivers and full-time hourly maintenance and office employees. The total amount awarded will reportedly exceed $8.8 million.

JB Hunt to provide nearly $9M in appreciation bonuses

J.B. Hunt Transport Services announced Wednesday that its subsidiary, J.B. Hunt Transport, will award appreciation bonuses for the second year in a row.

www.nwahomepage.com

 

[fpgt72]

This is apparent everywhere. Higher ups are letting sme's retire without training up replacements. Guys who have been cradle to grave on a telecom or other electronics system are retiring and not being replaced by anything comparable. To add to the problem they are being coaxed into teaching more and more systems. They are going to a jack of all trades model to make shuffling people around easier. Anyone can teach or maintain any system. This is similar to what i've seen done with engineers and asking them to do all engineering jobs no matter what they are trained for. This leads to burnout, turnover, and then your skills gap rears it's ugly head.

So when does this become a problem that has to be addressed? I have no idea. Our working standard can keep dropping until there is a public outrage of some sort or until they actually break the system by trying to have monkeys run the systems. This actually seems like idiocracy in action for real. The dumbing down of the work force on purpose for ease of management and to save money. I guess we will see how that goes.

Agree,

Years ago I worked for a bank, I did everything, ATM teller machines, wire transfer hardware, EVERYTHING. But I knew nothing well, just enough, the true jack of all trades. I would drive from one end of MO to the other end of KS in a day. One day pissed at my boss for saying I work half as many tickets then everyone else, I asked him if he owns a fucking map. And then pull out every place he sent me for the last week, thousands of miles. His answer, well you know all the systems and what you can't fix I will send out so and so for as he is swamped, you need to learn how to x. Another guy I worked with basically pulled me out of his office, first off "public" talking like that to a specific employee, I guess he could see my blood pressure going up.

I agree it will take a while, but it is on its way.

 

[fpgt72]

Ford changes and redesigns stuff that require 'special' tools. Ford then changes these every few years, so Ford can patent the tools and force people to buy new special tools.

Not just a ford thing, gm does the same. Back at the dealer they got issued the tools and you got them from parts, and they kept a log.

 

[Hobo Hilton]

Federal Reserve Bank of St. Louis President and CEO James Bullard predicted the Federal Reserve Open Market Committee will raise interest rates to over 5 percent this year to ensure that inflation returns to its long-term 2 percent target.
Bullard discussed the Fed’s approach to taming inflation and outlined his economic predictions for the coming year on Jan. 12 during a virtual Midwest economic forecast forum hosted by the Wisconsin Bankers Association. The forum also included a 45-minute address from PNC Bank Chief Economist Gus Faucher.

Bullard: Interest rate above 5 percent likely this year - BankBeat

St. Louis Fed President James Bullard predicted the FOMC will raise interest rates to over 5 percent this year.

bankbeat.biz

 

[Hobo Hilton]

Agree,

Years ago I worked for a bank, I did everything, ATM teller machines, wire transfer hardware, EVERYTHING. But I knew nothing well, just enough, the true jack of all trades. I would drive from one end of MO to the other end of KS in a day. One day pissed at my boss for saying I work half as many tickets then everyone else, I asked him if he owns a fucking map. And then pull out every place he sent me for the last week, thousands of miles. His answer, well you know all the systems and what you can't fix I will send out so and so for as he is swamped, you need to learn how to x. Another guy I worked with basically pulled me out of his office, first off "public" talking like that to a specific employee, I guess he could see my blood pressure going up.

I agree it will take a while, but it is on its way.

II am a retired Steamfitter. Many times, after other pipe welders made welds that failed X-Ray, I was sent to make the repairs or just "cut it out" and reweld the pipe connection. Even after cutting out a weld, the base metal changes. This increases the difficulty factor.
The old guy's that can repair another craftsman's screw up's have gone the way of the dinosaur's.

 

[devildog93]

II am a retired Steamfitter. Many times, after other pipe welders made welds that failed X-Ray, I was sent to make the repairs or just "cut it out" and reweld the pipe connection. Even after cutting out a weld, the base metal changes. This increases the difficulty factor.
The old guy's that can repair another craftsman's screw up's have gone the way of the dinosaur's.

There is about to be a huge learning curve imposed upon middle management and I'm not certain they will even understand the root problem. The skill level of the skilled labor matters. Good enough adds up over time and becomes a system failure. Where have we seen things like that happening lately? Just about everywhere. Transportation, shipping, electrical grid, air traffic, and more to come.

I think between skilled labor becoming not so skilled labor and other cost cutting measures things are definitely going downhill.

 

[Alpine 338]

There is about to be a huge learning curve imposed upon middle management and I'm not certain they will even understand the root problem. The skill level of the skilled labor matters. Good enough adds up over time and becomes a system failure. Where have we seen things like that happening lately? Just about everywhere. Transportation, shipping, electrical grid, air traffic, and more to come.

I think between skilled labor becoming not so skilled labor and other cost cutting measures things are definitely going downhill.

Over the last decade, we were getting fewer and fewer replacements for people retiring or moving on. The trend was to hire more management or administrators to manage compliance requirements forced on by big government. Then they increased our inspection or preventative maintenance schedule to where we couldn't keep up with their requirements because of the reduction of manpower i.e. people that actually did the work (installation and repairs). We tried to explain the obvious to the executives, and top level managers, but it was like talking to a wet sponge. Glad I retired when I did. ...and that was in a critical infrastructure position that impacts everyone's lives.

 

[Hobo Hilton]

A recession like no other:

“I think there’s a lot of underlying inflation, which won’t go away so quick,” Dimon told CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland.

Treasury yields rise after unemployment data points to higher Fed rates

Treasury yields declined on Thursday as investors digested unemployment data and awaited remarks from Federal Reserve speakers.

www.cnbc.com

 

[Hobo Hilton]

Amazon says it will cut over 18,000 jobs, more than initially planned

Amazon has decided to get rid of additional roles after committing to a round of cuts in its corporate workforce in November.

www.cnbc.com

 

[babyguppy]

Amazon says it will cut over 18,000 jobs, more than initially planned

Amazon has decided to get rid of additional roles after committing to a round of cuts in its corporate workforce in November.

www.cnbc.com

so, 10,000 + 18,000 more = 28,000 .. a lot, but the scheme of things.. 3% of their workforce. 922k/950K

• Amazon employs 950,000 workers in the US, the company said in its latest earnings report.

1 out of every 153 American workers is an Amazon employee

The commerce giant has 950,000 employees in the US, where the total employed workforce is 151 million.

www.businessinsider.com

 

[Hobo Hilton]

So far, Brainard has been right more often than Jerome Powell...........

“Even with the recent moderation, inflation remains high, and policy will need to be sufficiently restrictive for some time to make sure inflation returns to 2% on a sustained basis,” Brainard said in prepared remarks Thursday for a University of Chicago Booth School of Business event.18 mins ago

Fed’s Brainard Favors High Rates for Some Time to Cool Inflation

Federal Reserve Vice Chair Lael Brainard said interest rates will need to stay elevated for a period to further cool inflation that’s showing signs of slowing but is still too high.

www.bloomberg.com

 

[babyguppy]

IMO- they'll increase the debt limit and keep spending $$​

America has officially hit the $31 TRILLION​

• Debt is now 120% of the GDP and equals $246,876 of debt per taxpayer
• Figure is more than economies of China, Japan, Germany and UK combined

Treasury Secretary Janet Yellen prepares 'extraordinary measures'

If a deal is not made by the summer, the fallout could result in a global economic crisis. Since 1960 Congress has raised, extended or revised the debt limit 78 times.

www.dailymail.co.uk

"They're threatening to kill millions of jobs and 401K plans by trying to hold the debt limit hostage unless they can get cut Social Security, cut Medicare, cut Medicaid,' said Press Secretary Karine Jean-Pierre during her regular briefing on Wednesday"​

Notice they didn't say anything about cutting Welfare........

 

[Hobo Hilton]

IMO- they'll increase the debt limit and keep spending $$​

America has officially hit the $31 TRILLION​

• Debt is now 120% of the GDP and equals $246,876 of debt per taxpayer
• Figure is more than economies of China, Japan, Germany and UK combined

Treasury Secretary Janet Yellen prepares 'extraordinary measures'

If a deal is not made by the summer, the fallout could result in a global economic crisis. Since 1960 Congress has raised, extended or revised the debt limit 78 times.

www.dailymail.co.uk

"They're threatening to kill millions of jobs and 401K plans by trying to hold the debt limit hostage unless they can get cut Social Security, cut Medicare, cut Medicaid,' said Press Secretary Karine Jean-Pierre during her regular briefing on Wednesday"​

Notice they didn't say anything about cutting Welfare........

Remember, earlier on, during one of my sarcastic moments.... I made the statement... "It's not the fall that hurts you, it's the LANDING".
Are any of you thinking you will die of old age before the "Landing". If so, you have no worries.
Anyone care to share a thought on the FED's forecast of a soft landing ?

 

[Hobo Hilton]

Treasury Taps Retirement Funds to Avoid Breaching US Debt Limit​

McConnell Assures Against Financial Crisis With Debt-Limit Vow

 

[Hobo Hilton]

Google parent Alphabet Inc. said it will cut about 12,000 jobs, more than 6% of its global workforce, becoming the latest tech giant to retrench after years of abundant growth and hiring. The cuts will affect jobs globally and across the entire company, Chief Executive Officer Sundar Pichai told employees in an email on Friday, writing that he takes “full responsibility for the decisions that led us here.”

Google parent Alphabet will cut 12,000 jobs, say Sundar Pichai in email

With the layoffs, Google joins a host of other tech giants that have drastically scaled back operations amid a faltering global economy and soaring inflation.

indianexpress.com

 

[babyguppy]

Smuggling of Eggs Across Border Skyrockets Amid Rising Prices​

Smuggling of Eggs Across Border Skyrockets Amid Rising Prices › American Greatness

As the price of eggs continues to rise across the country, some are now turning to smuggling eggs across the southern border to get them for a cheaper price. As reported by the New York Post…

amgreatness.com

Eggs are considered “prohibited products” by the Border Patrol due to the risk of the eggs from Mexico being unclean, either carrying diseases or by being uncooked; meats and other forms of food are similarly banned from being transported across the border.​

​

"In most cases, border authorities have seen many more cases “in the last week or so where the eggs were not declared and then discovered during an inspection,” said CBP spokesman Roger Maier. “When that happens the eggs are seized and the individual is assessed a $300 civil penalty.” The fine can reach as high as $10,000 for anyone who tries again, or tries to smuggle in “commercial size imports.”​

 

[Hobo Hilton]

I deal in used stuff, tractor implements, tools, etc.

In my region, I am not seeing any prices coming down. Seeing the flat rate in repair shops increasing. Cost of welding supplies / steel continuing to increase.
What does this mean ? JMHO. The sheeple are listening to the propaganda and are spending their savings or putting items on their credit card with the HOPE that things will be better when that "Zero Interest" deadline comes along around 7/1/2023.... A recent financial head line said "Buyers are now getting vehicles at the Sticker Price" and made it sound like it was the most wonderful thing since sliced bread. A vehicle purchased at sticker price is certainly not a great deal.

 

[Hobo Hilton]

A few times here, it has been noted that this recession is somehow "different".
Many have said that things in their region were still booming and they were seeing new jet ski's, snow machines and other play toys.
Here is a factor:
Across the U.S., nearly 24 million people—a little over 15% of the workforce—are involved in military, public, and national service at the local, state and federal levels.

To the best of my knowledge there have been no layoff's of military, public, and national service at the local, state and federal level employees. So, a large percentage of the workforce remains in a protective bubble.
Just something to think about.

Public service and the federal government | Brookings

Fiona Hill details the role of public servants in the federal government.

www.brookings.edu

 

[babyguppy]

A few times here, it has been noted that this recession is somehow "different".
Many have said that things in their region were still booming and they were seeing new jet ski's, snow machines and other play toys.
Here is a factor:
Across the U.S., nearly 24 million people—a little over 15% of the workforce—are involved in military, public, and national service at the local, state and federal levels.

To the best of my knowledge there have been no layoff's of military, public, and national service at the local, state and federal level employees. So, a large percentage of the workforce remains in a protective bubble.
Just something to think about.

Public service and the federal government | Brookings

Fiona Hill details the role of public servants in the federal government.

www.brookings.edu

Don't forget who that 'large' public service sector votes for.. 98% (might be low) votes D

 

[Nik H]

A recession like no other:

“I think there’s a lot of underlying inflation, which won’t go away so quick,” Dimon told CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland.

Treasury yields rise after unemployment data points to higher Fed rates

Treasury yields declined on Thursday as investors digested unemployment data and awaited remarks from Federal Reserve speakers.

www.cnbc.com

Recession doubts??? I don't have any

 

[Hobo Hilton]

(NWL), the parent company of Rubbermaid, Sharpie, and other brands, announced Monday that it planned to cut about 13% of office positions as it looks to reduce costs. The company expects to see annualized pre-tax savings of $220 million to $250 million as the result of its broader restructuring and cost-savings plan.

Newell Brands to lay off 13% of staff amid restructuring

www.morningstar.com

 

[Hobo Hilton]

Spotify announced Monday it’s cutting 6% of its global workforce as the music streaming company contends with a gloomy economic environment that has seen consumers and advertisers alike limit their spending.

Spotify cuts 6% of its workforce — read the memo CEO Daniel Ek sent to staff

Spotify announced it is cutting 6% of its global workforce, as the music streaming giant contends with a gloomy economic environment.

www.cnbc.com

 

[babyguppy]

Spotify announced Monday it’s cutting 6% of its global workforce as the music streaming company contends with a gloomy economic environment that has seen consumers and advertisers alike limit their spending.
View attachment 8055316

Spotify cuts 6% of its workforce — read the memo CEO Daniel Ek sent to staff

Spotify announced it is cutting 6% of its global workforce, as the music streaming giant contends with a gloomy economic environment.

www.cnbc.com

ball is picking up speed.. $$ says a lot more to follow
*interesting side note, is that oil is going up

 

[Hobo Hilton]

ball is picking up speed.. $$ says a lot more to follow
*interesting side note, is that oil is going up

An old saying comes to mind while watching the layoff's as the price of oil goes up.
"Nothing like kicking a guy while he is down"... The multiplier effect will squeeze many who are falling for the propaganda.

 

[Hobo Hilton]

Deja Vu.... 1975, 1991, 2009

Many Americans said that an advance on their tax refunds could take the sting out of financing holiday spending, a survey said.


Fifty percent of respondents said they "believe an advance on their tax refund would take the weight off their shoulders to help pay for their holiday shopping," according to a Jackson Hewitt Tax Service survey.
Additionally, 40% of respondents said they were counting on receiving the same refund amount this year as they did last year.

"This year has been hard on our wallets, and we recognize the pressure many hardworking Americans feel during this time of year," Kim Hudson, chief marketing officer at Jackson Hewitt Tax Services, said in a statement. "Our survey found that an overwhelming 77% of people didn’t know they can get an advance on their tax refund."

Tax refund would help many Americans pay for holiday spending: survey

Many Americans said an advance on their tax refund would help with holiday debt, according to a recent Jackson Hewitt Tax Service survey.

www.foxbusiness.com

 

[babyguppy]

Deja Vu.... 1975, 1991, 2009

Many Americans said that an advance on their tax refunds could take the sting out of financing holiday spending, a survey said.


Fifty percent of respondents said they "believe an advance on their tax refund would take the weight off their shoulders to help pay for their holiday shopping," according to a Jackson Hewitt Tax Service survey.
Additionally, 40% of respondents said they were counting on receiving the same refund amount this year as they did last year.

"This year has been hard on our wallets, and we recognize the pressure many hardworking Americans feel during this time of year," Kim Hudson, chief marketing officer at Jackson Hewitt Tax Services, said in a statement. "Our survey found that an overwhelming 77% of people didn’t know they can get an advance on their tax refund."

Tax refund would help many Americans pay for holiday spending: survey

Many Americans said an advance on their tax refund would help with holiday debt, according to a recent Jackson Hewitt Tax Service survey.

www.foxbusiness.com

robbing peter to pay paul isn't the solution. The gov tries to play it off as, 'we'll give you more of your own money back (refund) that we generously borrowed from you'. Oh, tax savers, the $$ you had in the bank is depreciating faster that it's appreciating. There's another FU by the Gov. to the worker.
Vote Harder..

 

[Hobo Hilton]

But the main reason to worry at the moment is that the financial system is at a crucial stage in the monetary cycle. After 15 years of accommodative monetary policy, during which the US Federal Reserve increased its balance sheet from $1 billion to $9 billion, the central bank is now trying to extract liquidity from the system, to the tune of about $1 billion. dollars per year.

The Fed finds itself in a dirty hole

Related posts Kanye West takes his wife shopping at Balenciaga despite dropping the brand – TMZ 26.01.2023 U.S. GDP rose 2.9% in fourth quarter, more than expected even as recession fears loom – CNBC 26.01.2023 There’s never a good time for the U.S. government to hit its debt issuance cap — and...

oltnews.com

 

[Lightning8]

See all the tech layoffs announced now that midterms are over (tech companies pro-Blue) - quote from Epoch Times article:

“AI is replacing the white-collar workers. I don’t think anyone can stop that,” Pengcheng Shi, an associate dean in the department of computing and information sciences at Rochester Institute of Technology, told the New York Post on Wednesday. “This is not crying wolf,” Shi added. “The wolf is at the door.”

Jobs in the financial sector, health care, publishing, and other industries are vulnerable, Shi said. But people, he added, will be able to learn how to harness AI technology."

Saw it coming first hand - "Skynet" is closer than we think.