Financial Turmoil Abound

[Heyjoe]

Or heavy machinery

 

[arakboss]

GDP report reveals ominous Great Depression warning sign not seen since 1932

The latest GDP report from the Bureau of Economic Analysis tells us that the U.S. economy is slowing down. While the Biden White House wants to spin the numbers, they are not good.

www.foxbusiness.com

Intel's horrible quarter revealed an inventory glut and underused factories

"Clearly, the financials aren't what we would hoped," Gelsinger told analysts.

www.cnbc.com

 

[arakboss]

I am starting to freakout too, thinking about Measure 114 panic buys I have made.

The U.S. Consumer Is Starting to Freak Out

The flush savings accounts and cheap credit that helped keep Americans spending at high rates since 2020 are disappearing, while inflation remains elevated.

www.wsj.com

 

[gryghin]

I am starting to freakout too, thinking about Measure 114 panic buys I have made.

The U.S. Consumer Is Starting to Freak Out

The flush savings accounts and cheap credit that helped keep Americans spending at high rates since 2020 are disappearing, while inflation remains elevated.

www.wsj.com

Pay wall but the gist of the message comes through.

 

[arakboss]

Pay wall but the gist of the message comes through.

I hate pay walls.

 

[gryghin]

I hate pay walls.

Found the same article published on Fox Business website using the headline in Google search "The US consumer is starting to freak out"

Good information thanks for sharing.

 

[DivCurlGrad72]

I hate pay walls.

https://archive.is/2023.01.31-182256/https://www.wsj.com/amp/articles/consumer-spending-inflation-economy-11675093472

Only downside is the reader comments are missing.

 

[Heyjoe]

I wonder how much the fear mongering and talk of economic collapse will impact the severity and timing of said. Like a self fulfilling prophecy.

 

[gryghin]

I wonder how much the fear mongering and talk of economic collapse will impact the severity and timing of said. Like a self fulfilling prophecy.

They wouldn't use propaganda on their own, would they?

 

[Heyjoe]

They wouldn't use propaganda on their own, would they?

Oh yah they would. People ambush themselves all the time.

 

[arakboss]

Disney to cut 7,000 jobs and slash $5.5 billion in costs as it unveils vast restructuring

Disney unveiled a vast corporate restructuring, and CEO Bob Iger said the company isn't considering a spinoff of ESPN.

www.google.com

Affirm cuts 19% of workforce; shares tank on earnings miss

Affirm reported second quarter earnings that fell below analyst estimates on both the top and bottom lines.

www.google.com

 

[arakboss]

Yahoo to lay off 20% of staff by year-end, beginning this week

Yahoo will lay off more than 20% of staff, or around 1,600 workers, with the company's Yahoo for Business being slashed in half, the company said.

www.cnbc.com

News Corp. announces it will cut 1,250 positions this year

News Corp, which owns The Wall Street Journal and HarperCollins, said it would cut 1,250 positions in 2023.

www.cnbc.com

 

[gryghin]

So, if you're not tracking...

Big Tech made the announcement last year and now more businesses are making the same announcements.

When the grocery and delivery companies start down this trend... better make sure that you are ready.

 

[parallax]

..

 

[arakboss]

If MS is right there may be good buying opportunities ahead for those that didn't spend all their money on guns.

US stocks are in 'death zone' and could sink 26%, Morgan Stanley warns

The stock market likely faces further losses later this year as the Federal Reserve holds interest rates at an elevated level, according to Morgan Stanley analysts.

www.foxbusiness.com

 

[arakboss]

Ouch! $1000 a month for a car payment. That makes me feel a little better about my $5500ish of total debt. Hopefully my firearms hold their value better than a vehicle.

A record number of Americans are grappling with $1,000 car payments and many drivers can't keep up — dodge these 2 loan mistakes to stay ahead

The number of people who are behind on payments is rising at a rate not seen since the Great Recession.

finance.yahoo.com

 

[made in china]

Ouch! $1000 a month for a car payment. That makes me feel a little better about my $5500ish of total debt. Hopefully my firearms hold their value better than a vehicle.

A record number of Americans are grappling with $1,000 car payments and many drivers can't keep up — dodge these 2 loan mistakes to stay ahead

The number of people who are behind on payments is rising at a rate not seen since the Great Recession.

finance.yahoo.com

I saw a stat saying a significant portion of car loans are over $1k/month and the current loan length is at an average of 77 months

 

[jbett98]

I've been sitting on an inheritance for the last couple of years waiting for a good investment.
A neighbor I fished with down the street from me passed away last July and the brother who inherited the 3 bedroom house made me an offer I couldn't refuse.
He only wanted $175,000 cash for it and the best part was it had a newly built detached four car shop/garage, which I'm keeping for my own use.
The brother lives in Walla Walla, WA. and didn't want to deal with repairs, or a realtor, so we shook hands on the deal and after the four month probate was finalized, he kept his word and signed the house over to me. I still can't believe it, as another neighbor offered twice that, but he turned the guy down.
The house needed a lot of upgrades, but I've been remodeling most of my life and know what was in store for me, but being 68 sure makes me feel my age.
I'm half way done and have already lined up one of my previous renters. She's moving in the first of May, so I'm working every day.

 

[arakboss]

https://www.cnn.com/2023/03/02/business/target-macys-best-buy-retail-economy/index.html

 

[gryghin]

I'll really start worrying when the consumer staples like grocery start laying off folks.

After reading this article, it seems the grocery industry is in for changes but ok otherwise.

What Does 2023 Have In Store For The Grocery Industry?

Will 2023 grocery trends be tender, juicy and delicious? From challenging economic conditions to regenerative value chains, 2023 promises plenty of fun and excitement for the food industry.

www.forbes.com