Tag Archives: recession

Fools Bowing Down

08 Monday Jun 2020

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Remember how you were prohibited from going to church and bending a knee before God for months? Yeah, so now, the morons in DC have no problem kneeling to their god of dysfunctional diversity hoaxism.

House Speaker Nancy Pelosi and Senate minority leader Chuck Schumer were joined by two dozen lawmakers in Congress’ Emancipation Hall — named in honor of the slaves who helped erect the US Capitol in the 18th century.

They knelt for eight minutes and 46 seconds to mark the length of time a white police officer pinned his knee on the neck of the 46-year-old Floyd, whose death in Minneapolis May 25 unleashed mass protests against racial injustice.

Instead of meddling and shilling with the JPA, maybe they could just kneel for 117 years, without food or water, to mark how long their money masters have had their knees on all of our necks.

In related news, the US is (surprise, surprise!) officially in a recession.

When Money is Tight

12 Wednesday Feb 2020

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It’s their fault, the millions of Amerikans who chose to be something other than central or commercial banksters. Now, 1/3rd of them complain about the choices they made.

About 31% of respondents earning over $100,000 also regularly experience a budget shortfall before payday.

Kids, go to banking school. It’s as simple as that. Those at the head of the through get more of the slop. The rest, $100Kers included, get priced out for their hard work. The article mentions educational expenses, so let’s compare those to a $100k income. The web says that the average in-state college tuition today is about $10,200. A generation ago, it was one-quarter of that price. Now, $100K today is about the same as $56,000 back then. A doubling versus a quadrupling. Again, it’s not that hard – be a bankster. That, or continue to buy used food and toilet paper. The Republicrats will be all over this issue by October.

Not That They Care

21 Tuesday Jan 2020

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Maybe the good folks gathered in Davos should shun Greta and listen to these people.

Anne Walsh, Guggenheim’s fixed-income chief, said in an interview that 15% of the U.S. economy is already in recession. She said the Federal Reserve’s efforts to pump liquidity into markets has created “zombie companies” that may see an outflow of capital as the utility of that money continues to diminish, she said.

Zombie companies, ponzi schemes, 15% already in, and memories of a recession they tried to delete. Of course, having caused all of this, they know but don’t care.

The Bright Shiny Service Economy

01 Tuesday Oct 2019

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The recession is becoming palpable, moving out of bond curve graphs and into the factories.

A gauge of U.S. manufacturing showed the lowest reading in more than 10 years in September as exports dived amid the escalated trade war.

The U.S. manufacturing Purchasing Managers’ Index from the Institute for Supply Management came in at 47.8% in September, the lowest since June 2009, marking the second consecutive month of contraction. Any figure below 50% signals a contraction.

The new export orders index was only 41%, the lowest level since March 2009, down from the August reading of 43.3%, ISM data showed.

“We have now tariffed our way into a manufacturing recession in the U.S. and globally,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

The Bleak Advisor is likely a liar or an idiot. Other lies are told. Amazingly, about the only authority figure hitting on a little truth is the Trump. Thank God for the impeachment hoax! Otherwise, with a severe downturn coming, he might not be re-electable. And anyway, why does this matter??? I recall, some 30 years ago during my third-rate government high school “education,” someone telling us that in the happy future of tomorrow all employment would be in the easy, computerized service sector. Nothing produced, a shame since everyone would have tons of spending money from their high-tech fantasy jobs.

If we had an Index of Official Lies, the baseline would be a hockey stick curve in perpetuity.

The BBQ Barometer

02 Friday Aug 2019

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Outsourcing, along with obesity, usury, and sodomy, is one of those Amerikan values we keep hearing about. One more desperate way to wring a little more out before the end. This time, with Lowes.

Lowe’s Co LOW -1.88% s. told thousands of store workers this week their jobs were being eliminated as the company outsourced tasks such as assembling barbecue grills and janitorial services.

The home-improvement chain notified maintenance staff and assemblers that put together grills, wheelbarrows and other products that they were being laid off, according to the company and employees. Those roles will be taken over by third-party companies.

Each of Lowe’s roughly 1,800 U.S. stores has several staff members doing these jobs. Laid off employees, including full-time staff with years of service, aren’t being paid severance. Instead they are being offered “transition pay” totaling up to about two weeks for full-time workers, one employee said. All workers are able to reapply for open positions with the company, employees said, but aren’t guaranteed the same hourly pay.

Lowe’s employed 190,000 full-time and 110,000 part-time workers as of Feb. 1.

“We are moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers,” said a spokeswoman for Lowe’s.

Really? This one caught my eye because, a year to two back, I bought a pre-assembled floor model BBQ grill from Lowes. The guy who helped me, the customer, ON THE FLOOR, was the same dude who had assembled the grill. Now, he’s competing for another job? Who’ll do his? Robots? Illegals? Calling BS on this one. BBQ-S.

Recession: Confirming What I’ve Been Saying

26 Wednesday Jun 2019

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Gary Shilling thinks the US is already in a mild recession. I’ve been saying we hit the first phase of a narrow double-dip a few months ago. The rest is coming.

Gary Shilling, an economist and financial analyst who is credited with predicting several recessions over the past 40 years, thinks the U.S. is in a relatively mild slump.

“I think we’re probably already in a recession but I think it will probably be a run-of-the-mill affair, which means real GDP would decline 1.5% to 2%, not the 3.5% to 4% you had in the very serious recessions,” Shilling, president of economic and financial research firm A. Shilling & Co., said in a recent interview broadcast this week by Real Vision.

…

Shilling points to:

• Declining industrial production, a result of a weak global economy and the Trump administration’s trade war with China.

• Feeble job growth of 75,000 in May, along with downward revisions to prior months.

• The Federal Reserve Bank of New York’s recession probability chart, which shows about a 30% chance of a downturn the next 12 months, up from about 10% early this year. That data is based on an inversion of the yield curve, which has shown rates on 3-month Treasury bonds topping 10-year notes recently – a sign that investors don’t have much faith in the longer-term outlook. Inversions do herald recessions but often two years in advance.

• The Organization for Economic Co-operation and Development’s leading economic indicators, which has edged down since last year.

• Shilling also cites weak housing data, though he notes falling mortgage rates have bolstered home sales in recent months.

Funny, when one looks at real metrics and tangibles how the story changes from the boom-boom-boom narrative. The DOW and the newsmen salesmen on CNBC are not the final authorities. And, remember, statistically, this is all overdue.

Some Recovery

14 Friday Jun 2019

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How could there have been a recovery when half the country still suffers?

The median family income, after accounting for inflation, was $59,039 in 2016, little different than it was in 2000 ($58,544). During the same time, medical, childcare and college costs have ballooned.

B-b-but the banks and Wall Street are doing better…

…the next economic slump, whenever it occurs, could be particularly damaging. “Many Americans are still digging out from the recession,” he said. “Even a modest downturn is going to cause further harm to Americans’ personal finances.”

We had a modest downturn and the effects help fuel this survey. The next one won’t be so modest. This is the end result of an entire economy based on fake money, fake debt, financialized sorcery. For many (most), the only thing real is the losses and the suffering.

Ten Years After the Last Recession,

15 Wednesday May 2019

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And, just in time for the next one (overdue), confirmation of what many Americans have known for, well, the past ten years.

40 percent of U.S. families, including middle-class households, sometimes struggle to afford housing, utilities, food or health care, according to the Urban Institute.

Nearly 1 in 5 families said they had experienced difficulty paying for food or medical care.

About 60 percent of low-income people surveyed by the nonpartisan think tank said they couldn’t pay their bills at times.

Four in 10 Americans sometimes face what economists call “material hardship,” struggling to pay for basic needs such as food and housing, according to a new study from the Urban Institute. Even middle-class families routinely struggle financially and are occasionally unable to pay their bills.

The finding is striking given the U.S. has experienced a decade of economic growth in the decade since the recession ended. The unemployment rate is at its lowest in half a century, and the stock market has enjoyed a decade-long bull run. But for many Americans, incomes haven’t kept up with the rising cost of necessities such as housing and health care, resulting in financial anxiety.

Financialization = financial anxiety = a lost decade in advance of the next downturn.

Those “green shoots” must have dried up or something. The price of the sorcery is becoming obvious. It will be made even more so in the next few years.

Remember This Headline

27 Saturday Apr 2019

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Not mine. But this op-ed from the WSJ.

Screenshot 2019-04-27 at 8.04.11 AM

How do you cancel something that hasn… Nevermind. While it’s just as likely the 3.2 and other numbers have been manipulated, it’s possible that the recession we were in (that I called months ago) is over. If so, then it was the first, minor phase of a double dip. The second phase will be harder to cover up or ignore.

Let the paper times roll.