Posted on 02/18/2024 2:39:51 PM PST by Roman_War_Criminal
They were able to delay the U.S. economy’s day of reckoning, but they were not able to put it off indefinitely. During the pandemic, the Federal Reserve pumped trillions of dollars into the financial system and our politicians borrowed and spent trillions of dollars that we did not have. All of that money caused quite a bit of inflation, but it also created a “sugar rush” for the economy. In other words, economic conditions were substantially better than they would have been otherwise. Unfortunately, there will be a great price to be paid for such short-term thinking. From the federal government on down, our entire society is absolutely drowning in debt, and now it appears that our economic problems are about to go to the next level.
In early 2024, there are all sorts of signs that economic activity in the U.S. is really starting to slow down.
For example, we just learned that consumer spending “fell sharply” during the month of January…
Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday.
Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a drop of 0.3%, in part to make up for seasonal distortions that probably boosted December’s number.
(Excerpt) Read more at theeconomiccollapseblog.com ...
It will take Trump’s dynamic genius to prevent total destruction of the Dollar and the Economy.
Economics is called the dismal science for good reason. Economists have predicted 11 of the past 3 recessions.
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I see what you did there. LOL
At some point after Trump is (re)elected, we’ve got to repeal the 22nd amendment. I’m not kidding. Four years won’t be enough time to save the country.
Yes good advice. Decrease stock market exposure and risk with age. Now with bond rates rising one can get hammered there thus I supplement bond funds with lots of cash unfortunately.
And the 19th…
I’m from Missouri. The numbers have been bad for a long time. Yet, here we still are.
Ha ha.
How much is enough?
Have a big stock portfolio…. Don’t want to liquidate it as it’s very taxable.
How much is enough for a 66 year old to have to make it to age 90?
Layoff’s are just beginning …..
In early 2024, we have also seen large employers ruthlessly slash payrolls all over the nation.
The following summary of some of the most shocking layoffs that we have seen recently comes from Zero Hedge…
1. Twitch: 35% of workforce
2. Roomba: 31% of workforce
3. Hasbro: 20% of workforce
4. LA Times: 20% of workforce
5. Spotify: 17% of workforce
6. Levi’s: 15% of workforce
7. Xerox: 15% of workforce
8. Qualtrics: 14% of workforce
9. Wayfair: 13% of workforce
10. Duolingo: 10% of workforce
11. Washington Post: 10% of workforce
12: Snap: 10% of workforce
13. eBay: 9% of workforce
14. Business Insider: 8% of workforce
15. Paypal: 7% of workforce
16. Okta: 7% of workforce
17. Charles Schwab: 6% of workforce
18. Docusign: 6% of workforce
19: CISCO: 5% of workforce
20. UPS: 2% of workforce
21. Blackrock: 3% of workforce
22. Paramount: 3% of workforce
23. Citigroup: 20,000 employees
24. Pixar: 1,300 employees
Layoff’s are just beginning …..
In early 2024, we have also seen large employers ruthlessly slash payrolls all over the nation.
The following summary of some of the most shocking layoffs that we have seen recently comes from Zero Hedge…
1. Twitch: 35% of workforce
2. Roomba: 31% of workforce
3. Hasbro: 20% of workforce
4. LA Times: 20% of workforce
5. Spotify: 17% of workforce
6. Levi’s: 15% of workforce
7. Xerox: 15% of workforce
8. Qualtrics: 14% of workforce
9. Wayfair: 13% of workforce
10. Duolingo: 10% of workforce
11. Washington Post: 10% of workforce
12: Snap: 10% of workforce
13. eBay: 9% of workforce
14. Business Insider: 8% of workforce
15. Paypal: 7% of workforce
16. Okta: 7% of workforce
17. Charles Schwab: 6% of workforce
18. Docusign: 6% of workforce
19: CISCO: 5% of workforce
20. UPS: 2% of workforce
21. Blackrock: 3% of workforce
22. Paramount: 3% of workforce
23. Citigroup: 20,000 employees
24. Pixar: 1,300 employees
We’ve been hearing warnings about “the final reckoning” for 30-40 years now. Yes the economy is sick, but these bears have cried wolf once too often. Bad times ahead for sure, we’re in bad times now. Apocalypse no.
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