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SCE Labor Market Survey: The proportion of individuals who reported searching for a job in the past four weeks rose to 28.4% from 19.4% in July 2023, highest since March 2014. The average expected likelihood of becoming unemployed in the next four months reached a series high.

Source: https://www.newyorkfed.org/microeconomics/sce/labor#/ TLDRS: The Federal Reserve Bank of New York’s July 2024 SCE Labor Market Survey reveals significant changes in the job market, with 28.4% of individuals actively searching for jobs, the highest level since the survey’s inception in 2014. The rise in job searches was particularly pronounced among those over 45, without a college degree, …

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That’s Bidenomics! Intel Lays Off 15k Workers Despite $8.5 BILLION From Chips Act (Intel Craters Over -50% In 4 Months)

by confoundedinterest17 Bidenomics (actually Biden/Harrisnomics) is all about huge payoffs to large, powerful donors. A good example is The Chips Act, intended to bring chip manufacturing back to the US from Taiwan, China, etc. Biden/Harris doled out $8.5 BILLION to Intel … which just laid off 15% of it’s labor force or 15k workers. Intel has suspended dividends …

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Supercore inflation rose 4.7% in June; Fed’s 2% target unmet for 39 months. Fight against inflation continues.

The Fed’s fight against inflation is still not over: Supercore inflation CPI increased by 4.7% year-over-year in June, slightly down from 4.8% in May. Supercore inflation is an important gauge that the Fed follows which includes Core services less housing. Despite the first… pic.twitter.com/iJoeD9yv1z — The Kobeissi Letter (@KobeissiLetter) July 31, 2024 Supercore Inflation: This …

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Amex Shares Fall Most in Nine Months as Billings Growth Slows

Marketing costs expected to jump 15% this year, company says Full-year profit guidance climbs after sale of Accertify American Express Co. said it’s planning to increase spending on marketing even as billings growth on the company’s credit cards slowed in the second quarter. Shares of the payments giant fell the most in nine months after the …

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Apple expected orders to jump by 10%. And let me guess, in two months they’ll be reducing them. Every. Single. Year.

Apple expected orders to jump by 10%. And let me guess, in two months they'll be reducing them. Every. Single. Year. https://t.co/cSOUi8xfDj pic.twitter.com/hnieKIiIuj — Kakashii (@kakashiii111) July 10, 2024 $AAPL rallying on a Bloomberg report that it "expects" a 10% jump in iPhone shipments in the second half of 2024. Buried at the end of …

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Going Down! US Producer Prices Rise At Fastest Pace In 15 Months As Services Costs Soar (Buying Conditions For Housing Hit All-time Low!)

by confoundedinterest17 We’re going down! After May’s MoM deflationary impulse (thanks to a plunge in energy costs), June was expected to see a modest 0.1% rise (and we have seen energy prices starting to rise again). Sure enough, headline PPI printed HOT at +0.2% MoM (and May was revised higher), pushing the YoY print up …

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The CBO fiscal budget releases have pointed to two write downs of EIDL loans in the past 13-14 months. $400B issued to 4M firms

The CBO fiscal budget releases have pointed to two write downs of EIDL loans in the past 13-14 months. https://t.co/JR3ZRjRkJI — Neely (@NeelyTamminga) July 10, 2024 What’s curious to me @FreightAlley is that most did not have to put up personal guarantees for the EIDL loan, unlike a typical SBA. Loans < $200K didn’t require …

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Joe Biden’s personal physician breaks from protocol to reveal why top neurologist and Parkinson’s specialist visited the White House eight times in eight months amid fears for 81-year-old president’s health

The White House is now doing damage control following reports Joe Biden’s personal physician met with a top neurologist and Parkinson’s specialist at the White House. Biden’s personal doctor, Kevin O’Connor, broke protocol Monday, releasing a letter explaining why Dr. Kevin Cannard visited the White House eight times in eight months. The letter came after …

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June 2024 marked the first time in 44 months that no global central bank hiked interest rates.

🚨 Here's a wild stat: June 2024 marked the first time in 44 months that no global central bank hiked interest rates. A global easing cycle is upon us. Prepare accordingly. pic.twitter.com/JBpogzFxzb — Jesse Cohen (@JesseCohenInv) July 8, 2024 Funny enough, markets tend to rally ahead of rate cuts, and then correct lower once the …

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Crypto price dump leads to hefty liquidations in derivatives market. Lowest Bitcoin has traded in 5 months.

Over $170 billion wiped off cryptocurrencies as market tanks on Mt. Gox bitcoin payout fears Bitcoin’s price fell under $55,000 for the first time since February. At one point in time, the entire cryptocurrency market shed more than $170 billion in combined market capitalization in the last 24 hours. On Friday, the trustee for the …

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US consumer confidence dips, with just 12.5% expecting better business conditions over next 6 months.

US consumer confidence eased this month due to a more muted outlook for business conditions, the job market, and incomes. The Conference Board’s gauge of sentiment decreased to 100.4 from a downwardly revised 101.3 reading in May . Specifically, expectations for the next six months fell nearly 2 points to 73, while present conditions increased from a …

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Four months of declining full-time jobs signal looming recession despite Fed’s hopeful outlook.

What’s happening now is a troubling shift in the job market. Job openings are being filled as new entrants join the labor force and displaced workers find new positions. However, these job openings are not being replenished, leading to an uptick in the unemployment rate. It’s becoming increasingly difficult to find work, and unless the …

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Vivek Ramaswamy “If we don’t get this right in the next seven months then we don’t have a country left”

People around the world are asking what the hell is going on in America… I have heard this from several people now. From Kevin O’Leary…to Piers Morgan…to Vivek 👇 People around the world are asking what the hell is going on in America…I can tell you…dictator shit. THE Democrats have irrevocably damaged the BRAND that …

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FBI reinstates agent Marcus Allen, who challenged January 6 narrative, awarding him 27 months’ back pay.

BREAKING: FBI agent Marcus Allen, who was suspended and stripped of his security clearance for challenging the official narrative of the January 6 protest as attested by FBI Director Christopher Wray, has been fully reinstated, and awarded 27 months of back pay, according to a… pic.twitter.com/JZWU6fM5RZ — Patrick Webb (@Patrickwebb) June 4, 2024 According to PCMag, …

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Berkshire Hathaway stock suffers worst loss in 4 months one day after glitch. Buffett’s net worth plummets $3 billion

Shares of Berkshire Hathaway nearly registered their worst day this year Tuesday, a loss almost certainly not connected to Monday’s bizarre issue that caused the New York Stock Exchange to show Berkshire shares down almost 100%, but still coming as a steep selloff that even confounded Wall Street analysts. Key Takeaways Berkshire Hathaway’s Class A shares fell …

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US economic data softens, job report impact crucial, potential for severe downturn looms.

Recent economic updates from the U.S. paint a bleak picture, stirring deep unease among investors. The latest indicators, including the sharp decline in the Bloomberg Economic Surprise Index, signal a worrisome underperformance reminiscent of the tumultuous trends observed in 2019. This downturn in economic sentiment comes at a precarious moment, with all eyes fixed on …

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Italy wants to introduce 6 months of compulsory conscription for all 18-26 year olds, both men and women

https://twitter.com/_/status/1793210285903212652 Italy currently has a compulsory military service system, but the specifics vary based on age and gender. Here are the details: Age Range: The compulsory service applies to individuals aged 18 to 27. Service Obligation: Conscripts: Males are required to serve for 12 to 18 months, depending on their academic qualifications. Alternative Service: For those who choose not …

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