The situation remains delicate, and the coming months will be critical for various sectors of the economy.

by
Sharing is Caring!

Port Traffic in Los Angeles Continues to Decline, Echoing Global Financial Crisis Levels – Freight Market Disappointed in September

The decline in port traffic at the Los Angeles Port during August hit levels reminiscent of the Global Financial Crisis. Unfortunately, the outlook for September has not been much better, and the freight market is facing disappointment.

After witnessing a promising rebound in July and August, expectations were that the rally would continue through the end of the quarter. However, the opposite seems to be happening, and the fate of the market hinges on a potential crash.

Furthermore, it appears that construction of multifamily units in the southern region might have reached its peak. Historical data shows that inversions in this sector have often been followed by sharp increases in the unemployment rate, adding to concerns about the overall economic situation.

See also  Supply chain stress surpasses 2021-2022 bottlenecks, inflation remains uncontained.

In financial markets, the S&P has now slipped below its 50-day moving average, signaling potential turbulence ahead. The housing market, too, has shown significant weakness, with buying conditions plummeting to levels not seen in over six decades. It’s worth noting that similar conditions in the past have led to major recessions.

 

See also  The current US stock market is in the biggest bubble in history. The entire world economy is at risk. I can't make a bull case here.

New home construction collapses as rates spike…

Home builder confidence turns negative…