Posted on 11/14/2022 9:17:06 AM PST by EBH
Jeff Bezos has warned a US recession is looming, and advised consumers and businesses to stockpile cash in case there's a devastating downturn.
"The economy does not look great right now," Amazon's billionaire founder and executive chairman told CNN on Saturday.
"Things are slowing down, you're seeing layoffs in many, many sectors of the economy," he continued. "The probabilities say if we're not in a recession right now, we're likely to be in one very soon."
Bezos recommended American households delay big-ticket purchases such as new TVs, refrigerators, and cars, given the risk that economic conditions worsen. Similarly, he suggested small-business owners consider holding off on investments in new equipment, and build their cash reserves instead.
The e-commerce pioneer declined to estimate how long the recession could last, but he urged people to be ready for an economic disaster.
(Excerpt) Read more at msn.com ...
in otherwords- he wants people to spend oodles of cash at amazon to ‘prepare for what’s coming’
The press will now begin to convince you and other Trump supporters that you don't care for Trump as much as you once did.
"He's losing support, popularity slumping, Desantis is out polling him, etc."
Preppers ping.
We just bought a new washer for cash while our money’s still worth something (and while new washers are even available). Speed Queen, simplest model we could find. Don’t want smart anything.
Last year we put some money into fixing up the car in hopes of keeping it going until the used-car bubble bursts, if that ever happens.
animated turnip
>>>>>>>>>>>>>>>>>>>>>>>>>>>>..
Nice one!
Good advice on his part. But also tragic. Because delaying purchases, slowing down on projects, delaying capital expenditures will all contribute to a slowing economy even more. We are well and truly screwed. But hey, you can sacrifice your baby to Molock and chop off your penis!
Priorities, dontchaknow.
That word is forbidden. No matter what it is, it can be like the grapes of wrath with you on your way to California to pick fruit in a migrant camp, and it will still be a “recession”. You were also not allowed to notice that before the great depression, there were a couple of months of warnings from the insiders to other insiders that most people didn’t realize how serious it was.
Or...go to Vegas and buy two fun cars at auction, like my wife and I just did.
Got a 2010 BMW 128i with stick shift, and a 2009 Infiniti G37 convertible for half the price of the new Civic SI I was thinking about getting next year.
Inflation or Biden are going to get it. Spend it like it’s 1999.
“He’s losing his Covid bump so he thinks the sky is falling.”
As executive chairman of Amazon he has the ultimate access to any daily sales reports he wants. Amazon’s reporting and data analysis systems are some of the most sophisticated on the planet. Amazon, as one of the largest retailers in th world has the ability to see how consumer are spending in real time. It can also see and analyze trends regarding the level of traffic, the average size of purchases, and the abandonment of shopping carts. It can also see substitution of cheaper items for more expensive items based on what the customer looks at versus what he/she buys. Through its Amazon Web Services division Bezos can see the level of web traffic for many companies and thereby estimate the level of commercial activity at those companies.
Retailers see the slowdown before government statisticians who see statistics after they are published. If Bezos is issuing a warning you can bet the bank the numbers he is looking at are awful.
For many retailers the Christmas holiday period generates 40% of annual sales volume, and often more than 40% of profit. If a retailer “misses” Christmas the year is trashed. This fact certainly makes the Bezos warning ominous. If the number look bad at Amazon, what must they be at other retailers?
With respect to retail, if Christmas turns into a bust, the first quarter will be a bloodbath because deep markdowns will be required to sell off the excess inventory remaining. If closeouts extend into February they will suppress sales of spring merchandise which is typically put on display about February 1. Slow sales in February will result in order books being slashed, which in turn will reduce demand throughout supply chains.
Bezos sees many young people in their 20’s and 30’s are about the feel the bit of a deep recession for the first time. It will be interesting to see how the woke mob handles mass layoffs, months of fruitless job search, and possibly having to take a job at 50% of previous salary in order to feed the family. Will economic pain result in a hard dash of reality and a more, dare say it, conservative outlook on life? Deep recessions have historically affected consumer behavior for years.
For every rabid DemoRat voter let them feel the pain of their decision. Enjoy the ‘victory’. Oh yeah they’re victims alright- of their Rat master elites.
as a one person household i can afford pretty much what i want now that im retired.
I generally order in larger sizes of paper products & some other household staples that come in big sizes from Walmart for delivery.
Im cutting back on this and will be ordering only what need for two weeks at a time.
Its only a cutting corners type of thing.
Bezos / Amazon / Washington comPost / Whole Foods, etc. greatly helped to bring all this misery on. Thanks a lot, Jeff.
I think the man is worried.
He has growing competition from all sorts of online purchasing sources that offer free shipping for free. Amazon Prime costs money.
Ebay free Shipping is free as is many other sources including home Depot and Dell.
His main season is here and I would guess that his sales are not up to projections. Don’t buy big stuff means by lots of little stuff.... from Amazon.com
Whoa! What’s wrong with liking your own kind and disliking homosexuality?
Hey Meffer, you got Biden elected!
Just before the dollar takes a nosedive? He lost me.
“Don’t want smart anything.”
I like my appliances just like Democrats want their US Senators—speaking incoherently and making occasional sputtering noises...
;-)
The worst is yet to come.
Totally logical, considering which party is in charge.
There is a food crisis looming. Despite Biden saying things are good, but we all know he lies.
For the first time in many decades, the USA is importing more food than it exports. Farmers are in economic distress and going out of business. And there are food shortages throughout the world that are worsening, nations that relied on USA and Ukrainian food exports are suffering. In the near future (1 year), there will not be enough to eat.
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