US - Economic Slowdown 07 (Aug 22 - Dec 25)

[winston]

BofA warns that the US economy will start to lose 175,000 jobs per month during Q1 of 2023, expects a ‘harder landing’ rather than a softer one

by Jing Pan

Bank of America expects nonfarm payroll gains to be cut in half in Q4 of 2022 and turn negative in 2023.

During the first quarter of 2023, the bank projects that the U.S. will be losing roughly 175,000 jobs a month.

“We are looking for a recession to begin in the first half of next year” .

In September, the unemployment rate fell to 3.5%, a multi-decade low.

Given this labor market strength and rampant inflation, the Fed is raising interest rates aggressively to bring price levels under control.

“We could see six months of weakness in the labor market.”

The S&P 500 benchmark index is “expensive” and “super crowded. The worst thing to hold is the S&P 500 wholesale.

Sees opportunities in small-cap stocks, energy, and healthcare. She also likes “select industrials” — particularly automation plays.

Source: Money Wise

https://finance.yahoo.com/news/bofa-war ... 00414.html

[behappyalways]

Marauding Bands Of Looters Are Stealing Billions Of Dollars Worth Of Merchandise As America Descends Into Lawlessness
https://www.zerohedge.com/political/mar ... a-descends

[behappyalways]

#國際快訊 這麼想要就給你吧! 美國加州蘋果專賣店籲搶劫 平板.手機全被搜刮一空 店員淡定:讓他們搶｜記者 黃瓊慧｜【國際大現場】20221205｜三立新聞台
https://m.youtube.com/watch?v=4B30jSrjGvI

[winston]

Utility Bills: Late Payments

According to the National Energy Assistance Directors Association (NEADA), roughly 20 million households in the U.S. — one out of six homes — are behind on their utility bills.

As of August, these families owe about $16.1 billion in total, with an average amount owed of $788 — and the consequences of this could be dire, especially as home heat costs are expected to reach their highest level in over 10 years.

“I expect a tsunami of shutoffs,” Jean Su, a senior attorney at the Center for Biological Diversity, told Bloomberg.

Source: Money Wise

[behappyalways]

BofA Finds Increasing Number Of Wealthier Americans Now Shop At Value Supermarkets
https://www.zerohedge.com/markets/bofa- ... permarkets

[winston]

US$1.5t of Excess Savings Will Run Out In 2H 2023

While consumers and companies are currently in good shape, that may not last much longer, Jamie Dimon said Tuesday on CNBC’s “Squawk Box.”

Consumers have $1.5 trillion in excess savings from pandemic stimulus programs and are spending 10% more than in 2021, he said.

“Inflation is eroding everything I just said, and that trillion and a half dollars will run out sometime mid-year next year,” Dimon said.

“When you’re looking out forward, those things may very well derail the economy and cause a mild or hard recession that people worry about.”

Source: Investor Place

[behappyalways]

Walmart CEO Warns Retail Thefts Will Lead To Price Hikes, Store Closures
https://www.zerohedge.com/markets/walma ... e-closures

[behappyalways]

Store Credit Cards Hit 30% Interest Rates As Consumer Balances Rise
https://www.zerohedge.com/markets/some- ... ances-rise

[behappyalways]

Growing Number Of CEOs Issue Warnings About Retail Theft 'Epidemic' Across US
https://www.zerohedge.com/political/gro ... -across-us

[winston]

Can You Guess What Percentage Of Americans Are Having Trouble Paying Their Grocery Bills?

BY TYLER DURDEN

More than two-thirds of Americans are having a hard time affording groceries as food costs continue to soar, according to new data.

Retail technology platform Swiftly reported Wednesday that 69% of shoppers say they are struggling to pay their grocery bills after months of persistently sky-high inflation, and 83% currently rely on some form of coupons or loyalty program to put food on the table, according to its True Cost of a Grocery Shop survey.

If this poll is accurate, that means that almost 70 percent of all Americans are having trouble paying their grocery bills right now.

Source: Zero Hedge

https://www.zerohedge.com/personal-fina ... paign=1125