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Keyword: recession

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  • Washington Post: the recession is good for you, really!

    09/28/2022 8:35:17 PM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 09/28/2022 | David Strom
    I can’t say whether the Washington Post is just fond of listicles or whether they are trying to provide some cover for the Democrats, but they actually had the gall to publish an article that tries to convince us that the current recession is going to actually be good for us. The article is written by Michelle Singletary, who writes the nationally syndicated personal finance column “The Color of Money,” which appears in The Washington Post on Wednesdays and Sundays.I am not going to waste your time duplicating all the arguments–after all, you should always check out the source material...
  • 7 ways a recession could be good for you financiall

    09/28/2022 8:32:52 AM PDT · by TigerClaws · 50 replies
    In his first inaugural address in March 1933, President Franklin D. Roosevelt said: “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself.” It was the Great Depression. The unemployment rate was over 25 percent. An estimated 12 million people were out of work, about one-fourth of the civilian labor force. “More than 11,000 of 24,000 banks had failed, destroying the savings of depositors,” according to the National Archives. 7 ways to lower your credit card debt after the Fed rate hike Fast forward to now, and as bad...
  • FLASHBACK: 3 Paul Krugman Rules for ‘Bidenomics’ That Self-Destructed in 2022

    09/27/2022 3:55:58 PM PDT · by JV3MRC · 5 replies
    NewsBusters ^ | 9/27/2022 | Joseph Vazquez
    The New York Times economics columnist Paul Krugman’s so-called “rules” for Bidenomics that he preached just days before President Joe Biden took office aged like spoiled milk. Krugman published a blog six days before Biden’s inauguration where he established “Rules That Should Guide Bidenomics.” Among Krugman’s garbage heap of ideas, he argued that Biden shouldn’t worry about national debt or inflation and should spend taxpayer monies like a madman. He summed up his trainwreck of suggestions for Biden: “damn the torpedoes, full speed ahead.” How brilliant! Just over a year into the Biden presidency, the American economy is now reeling...
  • Energy crisis: Recession clouds gather in Germany, Europe's largest economy

    09/26/2022 10:34:24 AM PDT · by Its All Over Except ... · 24 replies
    Business Standard ^ | 9/26/22 | Staff
    Europe's largest economy is sending recession signals. Germany's key future indicator, the IFO survey of business confidence, pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses. ... High energy and commodity prices are weighing on demand and putting pressure on profit margins, said Carsten Brzeski, chief eurozone economist at ING bank. Companies can no longer pass through higher costs to consumers as easily as in the first months of the year. Company order books are shrinking, while businesses that use a...
  • ‘Scary’: Dow plunges into bear market amid fears of deeper recession

    09/23/2022 1:16:15 PM PDT · by ChicagoConservative27 · 23 replies
    NY Post ^ | 09/23/2022 | Ariel Zilber
    Wall Street’s massive selloff on Friday plunged the Dow into a bear market as investors appear resigned to the fact that the Fed has abandoned hopes for a “soft landing” and will continue to aggressively raise interest rates to fight inflation — even if it means a deeper recession. The Dow Jones Industrial Average fell more than 700 points, while the S&P 500 dropped nearly 100, shedding 2.65% from its pre-market starting point. The tech-dominated Nasdaq Composite plunged more than 300 points, or 2.75%. The Dow is now 20% off its all-time high — which would officially place it in...
  • Dow falls 20% from intraday record high of Jan 5

    09/23/2022 9:25:14 AM PDT · by Oldeconomybuyer · 36 replies
    Reuters via Yahoo ^ | September 23, 2022 | by Caroline Valetkevitch
    Sept 23 (Reuters) - The Dow Jones Industrial Average was down more than 20% from its Jan. 5 intraday record high on Friday amid worries that aggressive policy tightening by the Federal Reserve will push the economy into a recession. The index would confirm it has been in a bear market if it closes more than 20% below the record high close, according to a widely used definition.
  • US housing market in ‘deep recession’ as homebuilder confidence tanks: economist

    09/20/2022 3:16:49 AM PDT · by EBH · 28 replies
    New York Post ^ | 9/19/22 | Thomas Barrabi
    The US housing market is in the midst of a “deep recession” that could put pressure on the Federal Reserve to ease up on interest rate hikes, a prominent economist warned on Monday. Homebuilder confidence declined for the ninth straight month in September as surging mortgage rates and steep prices pushed many buyers out of the market, according to the National Association of Home Builders. Builder confidence fell to its lowest level since 2014 when excluding the early days of the COVID-19 pandemic, the index showed. The prolonged downturn in confidence shows the housing market has been “in a tailspin...
  • US faces stagflation due to labor shortage, government spending: FedEx founder

    09/20/2022 3:12:25 AM PDT · by EBH · 24 replies
    New York Post ^ | 9/19/22 | Thomas Barrabi
    The US economy is in the middle of an unusual “stagflation” period and lacks enough workers to meet spiking demand because of the Biden administration’s policies, FedEx founder and chairman Fred Smith said. Smith delivered his grim view of the economy after stocks tanked on FedEx CEO Raj Subramaniam’s warning of a looming “worldwide recession.” The FedEx chairman blamed government programs that poured money into an overheated economy for sapping demand from the labor market. “We’re sort of in a stagnation, stagflation period, because you have this tremendous demand, but we’re still one percentage point, in terms of lower labor...
  • Walmart and other retailers are canceling billions of dollars in orders

    09/20/2022 2:43:11 AM PDT · by EBH · 75 replies
    Retail Wire ^ | 9/14/22 | Tom Ryan
    Walmart, Target, Macy’s and Kohl’s are among retailers that have recently said they are canceling some orders to better balance inventory levels, a replay of a strategy used at the start of the pandemic. Other steps retailers are using to clear inventories as spending has slowed on some non-discretionary categories are employing markdowns and packing away products for the following year. The elevated inventory levels also reflect intentional over-buying to mitigate shortages and the easing of supply chain constraints. One risk of canceling orders is straining or damaging relationships with trading partners. After the pandemic arrived, many retailers were called...
  • Too Much News in the News Cycle

    09/19/2022 5:46:17 PM PDT · by jfd1776 · 4 replies
    Illinois Review ^ | September 19, AD 2022 | John F Di Leo
    Do you ever get the feeling there’s an awful lot going on, all at once? Consider: SINKING INTO A DEEPENING RECESSION - Goldman Sachs continues to downgrade their expectations for 2022 GDP on a monthly basis… and they’ve now tried to get ahead of things for next year by predicting 2023’s GDP to be at a miserable 1.1%. And yet, they don’t say the word “recession.” What does this mean? Perhaps that they owe it to their investment customers to tell the truth about numbers, but they feel they owe it to their political friends to not tell the truth...
  • US housing market in ‘deep recession’ as homebuilder confidence tanks: economist

    09/19/2022 12:52:02 PM PDT · by ChicagoConservative27 · 41 replies
    NYPost ^ | 09/19/2022 | Thomas Barrabi
    The US housing market is in the midst of a “deep recession” that could put pressure on the Federal Reserve to ease up on interest rate hikes, a prominent economist warned on Monday. Homebuilder confidence declined for the ninth straight month in September as surging mortgage rates and steep prices pushed many buyers out of the market, according to the National Association of Home Builders. Builder confidence fell to its lowest level since 2014 when excluding the early days of the COVID-19 pandemic, the index showed. The prolonged downturn in confidence shows the housing market has been “in a tailspin...
  • FedEx CEO warns the economy is entering a ‘worldwide recession’

    09/16/2022 8:39:14 AM PDT · by Roman_War_Criminal · 26 replies
    End Times Headlines ^ | 9/16/22 | Staff
    FedEx CEO Raj Subramaniam told CNBC’s Jim Cramer on Thursday that he believes a recession is impending for the global economy. “I think so. But you know, these numbers, they don’t portend very well,” Subramaniam said in response to Cramer’s question of whether the economy is “going into a worldwide recession.” The CEO’s pessimism came after FedEx missed estimates on revenue and earnings in its first quarter. The company also withdrew its full-year guidance. Shares of FedEx fell 15% in extended trading on Thursday. “I’m very disappointed in the results that we just announced here, and you know, the headline...
  • With inflation still raging, brace for a ‘hard-landing’ recession as the Fed spikes interest rates further

    09/14/2022 5:02:28 PM PDT · by bitt · 20 replies
    nypost ^ | 9/14/2022 | EDITORIAL BOARD
    Consumer prices surged again last month — they’re now up 8.3% over last year. But what do you expect? President Joe Biden and Congress have done zilch to stem the tide and instead have kept fueling it. That’s left the job to the Federal Reserve, which will now have to risk a painful “hard landing” recession to rein in runaway inflation. Last month Biden boasted that the economy had “0% inflation” in July, though prices were up 8.5% over a year earlier, near the worst in 40 years. He and his supporters tried to pretend the crisis was over, or...
  • Stronger than expected momentum in the Biden economy just made Bank of America revise its recession forecast

    09/10/2022 11:50:50 AM PDT · by ChicagoConservative27 · 43 replies
    Fortune ^ | 09/09/2022 | Will Daniel
    Back in July, Bank of America hired Michael Gapen as its chief U.S. economist, and the former Barclays exec began his tenure with a gutsy call, arguing a “mild recession” would hit the U.S. by the end of the year. Before Gapen’s hiring, Bank of America’s economists had refrained from using the R-word, even if many of their peers weren’t so shy. But Gapen highlighted weaker-than-expected services spending, fading fiscal support, persistent inflation, and rising interest rates as his evidence for a more bearish outlook. On Friday, however, Gapen and his team of economists said the situation has changed over...
  • Tell that to Biden! CEO of luxury furniture retailer RH says anyone who thinks US isn't in recession is 'CRAZY' as household net worth plunges by record $6.1 trillion in a quarter

    09/09/2022 11:47:36 PM PDT · by knighthawk · 23 replies
    UK Daily Mail ^ | September 10 2022 | KEITH GRIFFITH
    The CEO of a luxury furniture retailer has claimed it is 'crazy' to think the US economy is not in recession, as household wealth fell by a record $6.1 trillion in the second quarter. 'I don't know, people keep saying, are we going to be in a recession? We're in a recession,' said Gary Friedman, the chief executive of RH, formerly known as Restoration Hardware, in an investor call on Thursday. 'Anybody who thinks we're not in a recession is crazy. The housing market is in a recession, and it's just getting started. So it's probably going to be a...
  • Bad news for stocks: Fed will be surprised how hard rate hikes hit economy, says BlackRock

    09/07/2022 4:29:19 AM PDT · by Hostage · 51 replies
    MarketWatch ^ | September 6, 2022 | William Watts
    Hate to say bad news coming, but um ..... there's bad news coming. Getting inflation back to target ‘means crushing demand with a recession’ Federal Reserve policy makers are about to surprise themselves — and not in a good way when it comes to stocks and other assets perceived as risky, according to analysts at BlackRock Investment Institute. BlackRock has argued that investors are dealing with a “regime shift” as the COVID-19 pandemic upended an unusual period of mild volatility in output and inflation, heralding a more volatile market environment that carries echoes of the early 1980s. That’s an environment...
  • The Fed has decided the US will need a 'growth recession' to rein in inflation. Here's why it's bad news for job seekers.

    09/07/2022 10:27:00 AM PDT · by RomanSoldier19 · 43 replies
    market insider ^ | 9/7/2022 | Ben Winck,Madison Hoff
    The chance of an economic "soft landing" has faded, and the Fed is pushing for a "growth recession." The phrase describes a period of below-average growth, rising unemployment, and slowing inflation. The Fed chair said that while it'd "bring some pain," letting inflation stay high would be worse. In an ideal world, the Federal Reserve has already vanquished pandemic-era inflation while keeping unemployment at historic lows and avoiding a recession. Hopes for such an outcome are all but entirely dashed, and the Fed has switched to plan B. The central bank's message at its annual conference in Jackson Hole, Wyoming,...
  • Slander, Insults, and Agitation: Old Joe Returns to his Roots

    09/02/2022 6:56:00 PM PDT · by jfd1776 · 24 replies
    Illinois Review ^ | September 2, AD 2022 | John F Di Leo
    On September 1, Joe Biden headed to Independence Hall in Philadelphia – where the Continental Congress met, where the Declaration of Independence and the Constitution of the United States were created – and instead of rising to the heights deserved by the rooftop that once held the Liberty Bell, he sank below the gutters outside, and delivered a rant worthy of the lowest shop steward, the most guttural petty mobster. In an insult-laden speech, Joe Biden kicked off his part of the midterm election season by insulting America’s voters and slandering the conservative movement. None of this should be surprising,...
  • Johns Hopkins economist predicts ‘whopper’ of a recession in 2023 — and points to one key economic reading the Fed is missing

    08/31/2022 6:44:18 AM PDT · by lasereye · 51 replies
    Fortune ^ | August 30, 2022 | BYCHLOE TAYLOR
    Americans are worried a recession is looming—and according to a top economist, they ought to be. Steve Hanke, a professor of applied economics at Johns Hopkins University, said this week that he believes the U.S. is heading for a “whopper” of a recession next year. In an interview with CNBC’s “Street Signs Asia” on Monday, Hanke argued that a major economic downturn had been made inevitable due to U.S. money supply soaring and stagnating. “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t even looking at it,” he...
  • Elizabeth Warren says Fed policies could cause recession

    08/29/2022 8:52:35 PM PDT · by RomanSoldier19 · 15 replies
    Forbes via MSN ^ | 8/29/2022 | Carlie Porterfield, Forbes Staff
    Sen. Elizabeth Warren (D-Mass.) said Sunday she is “very worried” the Federal Reserve’s moves to fight inflation will “tip the economy into recession,” after Fed Chair Jerome Powell warned economic growth will slow as the central bank tries to combat inflation by raising interest rates. Key Facts During a Sunday appearance on CNN’s State of the Union, Warren said hiking interest rates could put Americans out of work and won’t “deal directly” with some of the root causes of inflation, including the war in Ukraine, supply chain snags and Covid-19. Warren’s comments were in response to a speech Powell gave...