Posted on 07/29/2016 7:24:19 AM PDT by Brilliant
“Growth is up only 1.2% year over year. This report was very weak, and this report supports our forecast of a coming U.S. recession. Industrial production data convey that we are in a recession right now. We still expect a slowing of U.S. growth in the second half of the year as lower oil prices affect oil and gas credit and financial players. At the same time, we also expect light-vehicle sales are likely to slow, due to oversized used lease fleets crowding out new vehicle sales, as well as a reduction in new issuance of subprime auto loans. We still believe a U.S. recession is likely to begin in late 2016, and today’s GDP report reaffirms our expectations. We also expect no Fed rate hikes this year.” —Jason Schenker, Prestige Economics
(Excerpt) Read more at blogs.wsj.com ...
For O and Hillary that comes as more bad news.
When they can least afford it.
Its already blown away the feel good mantra of the week’s just concluded Philadelphia freak show.
Love it!
Several of our doctor clients no longer take credit cards and we are seeing a lot of patients in Houston area cancel appointments because they can’t afford even a $30 co-pay if they have to pay by cash or check. Used to be just the last couple of days of the month that this would happen but now it’s starting mid-month.
“Several of our doctor clients no longer take credit cards”
What is the rationale for this?
I can guess. The merchant pays a percentage to the card issuer, usually more than 5%. If you can get away with demanding cash then of course you do.
Anyone who looks at the people, everyday folks, can tell you this. For those of us who work for a living and have to pay the bills this report is NO secret.
You’re right; Trump’s base is working people tired of being told that everything is hunky-dory as friends, family and neighbors lose jobs, homes to foreclosure, and their sanity...
What is the rationale for this?”
Fee increases - including regular per card percentage plus annual fee for mandated security software as required by Dobbs-Franks bill. Does nothing to protect credit card info but made one software company a whole lot of money.
Contract rates for physicians continue to decrease so income is decreased, headcount and payroll for support personnel to process all the mandated paperwork continues to increase and basic expenses such as property taxes and utilities have gone through the roof. Cuts being made where they can.
Several of our docs and small groups are totally getting out of the insurance business and will see on private pay basis only. Reduces paperwork, staffing requirements and having to purchase more electronic equipment and software upgrades.
Oh, I see, thanks!
Holy cow, has the fee climbed that high? We never accepted CC's in our tiny enterprise because the fee seemed too high many years ago, and it was well under 3%.
coming recession?
lol
we never left the LAST recession caused by Obama’s nearly certain election over McLame.
Welcome. Have a great and Blessed weekend.
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