Recession Watch 2024.

[HiFi Magnetics]

This is not good for the retirement…

 

[Jay Walk]

Just some nice profit taking by those who "Run" the stock market pony show.

 

[VinnieBoomBah]

Just some nice profit taking by those who "Run" the stock market pony show.

This! Like the man said "If 5 minutes into the poker game you can't tell who the patsy is, it's you"

 

[gmerkt]

Predictable response given how markets work these days. Dip buying traders rushing in to pick up perceived bargains. It's all momentum trading with little basis in fundamentals.

I suppose it's a natural human response, but when markets keep going skyward by leaps and bounds for months and years, then there is a two point six percent stumble on the DOW in one day, it's Scheiss in die Hose.

The other thing is the "news cycle." Otherwise known as TMI, Too Much Information. Every little thing now impacts the equities markets. On a minute by minute basis. Often in contradictory ways, so that one group of people reacts to it one way, another in some different way. Or like gold. Interest rates go up, that may be read as an indicator of inflation, hence gold might be expected to appreciate. Or, interest rates go up, that might be read that people will be more apt to put their money in interest bearing deposits and not gold, which then might be expected to go down.

 

[arakboss]

America just got a nasty wakeup call about the job market

Hang on to your job — America may be headed for a wave of layoffs.

www.businessinsider.com

 

[arakboss]

These layoffs should help with the labor shortage. Illegals and AI should fill the rest.

https://www.cnbc.com/2024/08/14/cisco-csco-earnings-report-q4-2024.html

"The number of job openings was unchanged at 8.2 million on the last business day of June"


Source: https://www.bls.gov/news.release/jolts.nr0.htm

 

[arakboss]

https://www.politico.com/news/2024/08/14/inflation-harris-economy-feds-00173962

 

[arakboss]

Good news for renters.

https://www.cnbc.com/2024/08/14/heres-where-rent-concessions-are-happening-the-most-in-the-us-.html

 

[Jay Walk]

Even better news for vintage firearm purchasers. Picked up two since yesterday for prices not even heard of one year ago.

Probably in six months I will wish I had waited


In other news
Six Subways close across Vancouver without explanation.

 

[Alexx1401]

Even better news for vintage firearm purchasers. Picked up two since yesterday for prices not even heard of one year ago.

Probably in six months I will wish I had waited


In other news
Six Subways close across Vancouver without explanation.

The cost of labor and "product" are putting a lot of pressure on fast food. Ran into one of the kids yesterday who had a box from Popeye's in hand. He was heading home and had not had their chicken in a long time. The little box in hand was $30. He asked for a cup of water to go with the meal, they said that would be $3.95. He declined the water and I am sure he will not be stopping off there for a meal again. The city, state, fed, all have their hands out wanting money from little places like this. Then add in paying the staff something like $20 and hour and you end up with that $30 meal. I have often been shocked that so many little places like this can still keep the doors open. All of them have to be finding people willing to eat there which I guess shows we still have a lot of disposable income floating around for now. When knee pads wins suspect one of the first things they will do is start passing out more free money to help this along. Good times ahead

 

[arakboss]

I will take credit for piece of that 1.14 Trillion in credit card debt.

US Credit Card Debt Soars To $1,140,000,000,000 As Bank of America CEO Issues Warning on ‘Depleting’ American Consumer - The Daily Hodl

Americans are holding more household debt than ever before as one of the biggest banks in the country warns of a weakening US consumer.

dailyhodl.com

 

[Alexx1401]

I will take credit for piece of that 1.14 Trillion in credit card debt.

US Credit Card Debt Soars To $1,140,000,000,000 As Bank of America CEO Issues Warning on ‘Depleting’ American Consumer - The Daily Hodl

Americans are holding more household debt than ever before as one of the biggest banks in the country warns of a weakening US consumer.

dailyhodl.com

This has had a LOT to do with all the free money. They printed so much that they got inflation really fired up and of course a lot of people starting using the plastic to make ends meet. Suspect it will not be long till we start to see a mass movement of people filing bankruptcy. Then of course the banks will ask for another bail out.

 

[arakboss]

Never has EVER worked but, people keep trying it again. Kind of sad and funny that humans will sign up for it over and over again.

Don't worry they say we're going to have a soft landing.

 

[arakboss]

Don't invite this guy to your parties.

View: https://youtu.be/71jwLL1B4iQ?feature=shared

 

[arakboss]

472,000 JPMorgan Chase Customers Can't Pay $400 'Expense Shock' by Any Possible Means – Including Credit Cards: Report - The Daily Hodl

A new report from JPMorgan Chase is shedding light on how many Americans can afford to pay for an emergency. An analysis of 5.9 million households with Chase bank accounts shows 8% are completely unable to cover a $400 “expense shock” – not even with their credit cards. ADVERTISEMENT That adds...

dailyhodl.com

 

[Alexx1401]

472,000 JPMorgan Chase Customers Can't Pay $400 'Expense Shock' by Any Possible Means – Including Credit Cards: Report - The Daily Hodl

A new report from JPMorgan Chase is shedding light on how many Americans can afford to pay for an emergency. An analysis of 5.9 million households with Chase bank accounts shows 8% are completely unable to cover a $400 “expense shock” – not even with their credit cards. ADVERTISEMENT That adds...

dailyhodl.com

Has to be fake news. Knee pads told everyone we are doing great.

 

[HiFi Magnetics]

'Hate to break the news to you guys.
Every Single Day. There are businesses like markets, shopping center, restaurants, small business, hardware store are getting bankrupt and closing. No need for any introduction. This is all intentional. Biden and Harris must be thrown out of the office immediately. This is a total US collapse. People are hurting so bad.

View: https://youtu.be/qFnhMN7QBxU

 

[arakboss]

'Hate to break the news to you guys.
Every Single Day. There are businesses like markets, shopping center, restaurants, small business, hardware store are getting bankrupt and closing. No need for any introduction. This is all intentional. Biden and Harris must be thrown out of the office immediately. This is a total US collapse. People are hurting so bad.

View: https://youtu.be/qFnhMN7QBxU

Rumor has it, that the Sharis in Wilsonville is going to shut down and they are going to build some weird residential units in it's place. That place has been deteriorating for many years. It seems like many Sharis are that way.

 

[Alexx1401]

'Hate to break the news to you guys.
Every Single Day. There are businesses like markets, shopping center, restaurants, small business, hardware store are getting bankrupt and closing. No need for any introduction. This is all intentional. Biden and Harris must be thrown out of the office immediately. This is a total US collapse. People are hurting so bad.

View: https://youtu.be/qFnhMN7QBxU

Fake news, economy is booming, never been better, happy days are here again, let the good times roll.

 

[Alexx1401]

Rumor has it, that the Sharis in Wilsonville is going to shut down and they are going to build some weird residential units in it's place. That place has been deteriorating for many years. It seems like many Sharis are that way.

Those all shut down here a long time ago. Wife and I used to like to eat there as they served breakfast any time. With my "odd schedule" and her just liking breakfast evenings they were a great little spot. One by one they got shuttered here.