Stock market panic around the world due to fears about the US entering a recession

Walmarts a good example of how you can cut your workforce drastically, while pointing at profits and saying everything is fine.

they used to have 30 cashiers for example, now they got like 5. Self-checkouts have allowed them to drastically cut their workforce, that means so much money is saved.

It's also the cheapest place you can buy stuff at, the fact they're doing great isn't a good indicator. It means people can't shop at more costly places, so they choose walmart

[QUOTE=Bill Gates;14933773]It doesn't matter if Amazon is a monopoly or not (it's not), that doesn't mean that the entire population has to spend more money there. Oh well I tried, have fun living in your false great depression and letting everyone know how hard it is on your new iphone.[/QUOTE]

You don't see the increase in not just groceries, gas, insurance (homeowner's, auto, long term care), eating out, travel but virtually everything? You don't know about the increase in credit card debt, use of food banks, car repossessions? Which world are you living in?

[QUOTE=rmt;14933733]Going by some of you on this board, the economy is just honky-dory, and Biden belongs on Mt. Rushmore.[/QUOTE]

Well this post aged like Milk

[url]https://www.foxbusiness.com/markets/us-stocks-august-6-2024[/url]

[QUOTE=rmt;14933898]You don't see the increase in not just groceries, gas, insurance (homeowner's, auto, long term care), eating out, travel but virtually everything? You don't know about the increase in credit card debt, use of food banks, car repossessions? Which world are you living in?[/QUOTE]

I guess I'm living in the world where I have a good job and salary and the company I work for is doing well and my saving and 401k are killing it. I can not deny that inflation has been problematic, but if we were actually in a bad recession I would be collecting unemployment right now which is infinitely worse.

[QUOTE=paksat;14933845]
how about we stop comparing things to the top 5 largest companies in the world that will cut 50k employees to ensure profits remain the same... and compare it to your average mom and pop place shall we?[/QUOTE]
[IMG]https://commerceinstitute.s3.amazonaws.com/new-businesses-started-every-year/new-businesses-created-over-time.webp[/IMG]


We shall, there are more mom and pop places in the US right now than ever before. You keep bringing up your own small business and how well you are doing financially, so you are one of them :facepalm

[QUOTE=John8204;14933900]Well this post aged like Milk

[url]https://www.foxbusiness.com/markets/us-stocks-august-6-2024[/url][/QUOTE]

And it's up even more today (since this article was written). Please, do you really think the stock market is all there is to the economy? People are getting pounded by higher prices, interest rates, debt, etc.

Look, I'm old - not into selling in a panic. I actually took the day off on Monday to buy (pre-market was really low). But I see my kids' friends graduate, living at home with parents, can't find jobs and it's just SAD. 35 trillion in debt, SS and Medicare headaches soon - these are [B][U]HUGE[/U][/B] problems that no one is addressing. And the government keeps spending. The future is not bright for most.

[QUOTE=Bill Gates;14933930]I guess I'm living in the world where I have a good job and salary and the company I work for is doing well and my saving and 401k are killing it. I can not deny that inflation has been problematic, but if we were actually in a bad recession I would be collecting unemployment right now which is infinitely worse.[/QUOTE]

I am happy for you, but not blind to what's happening to others not as fortunate.

[QUOTE=Bill Gates;14933931][IMG]https://commerceinstitute.s3.amazonaws.com/new-businesses-started-every-year/new-businesses-created-over-time.webp[/IMG]


We shall, there are more mom and pop places in the US right now than ever before. You keep bringing up your own small business and how well you are doing financially, so you are one of them :facepalm[/QUOTE]

Well its not all roses out there for small business. Their share of the GDP has shrunk from 50.9% 25 years ago to 43.5% today. Only 65% are profitable which is actually good compared to some other recent years. The average lifespan of a small business is now 9.5 years. And the biggie , in 2024 small business confidence is the lowest in 11 years

[QUOTE=rmt;14933732]You're darn right I don't trust them - who would trust any stats that are 11/12 months wrong (last year) and (this year) 279,000 jobs off (and only 7 months have gone by). If you trust those stats, smh. And it's this job report that set off the 2 days of world-wide panic/selling.[/QUOTE]

But you trusted every word president trump was uttering, right? It was the gospel and everything was going perfectly from January 2017 to January 2021!

[QUOTE=Bill Gates;14933931][IMG]https://commerceinstitute.s3.amazonaws.com/new-businesses-started-every-year/new-businesses-created-over-time.webp[/IMG]


We shall, there are more mom and pop places in the US right now than ever before. You keep bringing up your own small business and how well you are doing financially, so you are one of them :facepalm[/QUOTE]

I live in Florida where everyone is evacuating to. It's allowing us to enjoy a better economy for obvious reasons

Your data simply isn't making sense, how is everything better than ever when 2 out of 3 people live with less than 1k in their bank account?

If you go by wage increase and compare it to the average increase of rent groceries and gas, all your graphs get proven to be lies

Sorry MAGA that economic collapse you were hoping for so you could blame it on Biden/Harris did not turn out the way you wanted.

Jobless claims plummet, completely erasing all fears of recession. Sorry MAGA, I know your hopes were up.

[QUOTE=Bill Gates;14933930]I guess I'm living in the world where I have a good job and salary and the company I work for is doing well and my saving and 401k are killing it. I can not deny that inflation has been problematic, but if we were actually in a bad recession I would be collecting unemployment right now which is infinitely worse.[/QUOTE]

Dude, you're supposed to be overly negative and reactive. Get with the program! :lol

[QUOTE=Lakers Legend#32;14934023]Sorry MAGA that economic collapse you were hoping for so you could blame it on Biden/Harris did not turn out the way you wanted.[/QUOTE]

Always next time! :lol

[QUOTE]JPMorgan has raised the odds of a US recession by the end of this year to 35 per cent from 25 per cent probability earlier, citing easing labor market pressures.
Fears of a US recession following a weaker-than-expected July jobs report and an unwinding of yen-funded carry trades sparked a sharp sell-off in global equities earlier this week.[/QUOTE]

[URL="https://www.business-standard.com/world-news/jp-morgan-raises-odds-of-us-recession-by-year-end-to-35-from-25-report-124080801912_1.html"]https://www.business-standard.com/world-news/jp-morgan-raises-odds-of-us-recession-by-year-end-to-35-from-25-report-124080801912_1.html[/URL]