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Good college starter
Re: Stock market panic around the world due to fears about the US entering a recessio
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
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College superstar
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
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.
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?
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National High School Star
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by rmt
Going by some of you on this board, the economy is just honky-dory, and Biden belongs on Mt. Rushmore.
Well this post aged like Milk
https://www.foxbusiness.com/markets/...-august-6-2024
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Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by rmt
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?
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.
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College superstar
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by John8204
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 HUGE problems that no one is addressing. And the government keeps spending. The future is not bright for most.
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College superstar
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
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.
I am happy for you, but not blind to what's happening to others not as fortunate.
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The Truth Is Out There
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The Renaissance man
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by rmt
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.
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!
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Good college starter
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3-time NBA All-Star
Re: Stock market panic around the world due to fears about the US entering a recessio
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.
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Good college starter
Re: Stock market panic around the world due to fears about the US entering a recessio
Jobless claims plummet, completely erasing all fears of recession. Sorry MAGA, I know your hopes were up.
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NBA Superstar
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
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.
Dude, you're supposed to be overly negative and reactive. Get with the program!
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The Renaissance man
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Lakers Legend#32
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.
Always next time!
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Whap'em
Re: Stock market panic around the world due to fears about the US entering a recessio
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.
https://www.business-standard.com/wo...0801912_1.html
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