The Greatest depression is coming, are you ready?

[ZNP]

US Economic Growth Slows to 1.1% While Inflation Accelerates
Reade Pickert

https://finance.yahoo.com/news/us-economic-growth-slows-1-130855696.html

Lower growth will result in lower tax revenues, so debt will increase at a greater rate. Meanwhile inflation is the cruelest tax and as long as we have high inflation we have to keep raising interest rates which will cause the economy to slow even further.

 

[Billyd]

US Economic Growth Slows to 1.1% While Inflation Accelerates
Reade Pickert

https://finance.yahoo.com/news/us-economic-growth-slows-1-130855696.html

Lower growth will result in lower tax revenues, so debt will increase at a greater rate. Meanwhile inflation is the cruelest tax and as long as we have high inflation we have to keep raising interest rates which will cause the economy to slow even further.

What do you consider a satisfactory economic growth rate? GDP growth rate? Inflation rate? Unemployment rate? Discount rate?

IMHO, a balanced economy is an inflation rate at or near zero.

 

[ZNP]

What do you consider a satisfactory economic growth rate? GDP growth rate? Inflation rate? Unemployment rate? Discount rate?

IMHO, a balanced economy is an inflation rate at or near zero.

3.5% growth rate for GDP is generally considered ideal and is the target.

People can live with an inflation rate <1.5%.

4-6% is considered a healthy unemployment rate, my opinion is <5%. People need a push to graduate HS, College, and graduate school.

I think you want the discount rate <2%

 

[Billyd]

3.5% growth rate for GDP is generally considered ideal and is the target.

People can live with an inflation rate <1.5%.

4-6% is considered a healthy unemployment rate, my opinion is <5%. People need a push to graduate HS, College, and graduate school.

I think you want the discount rate <2%

I believe that the inflation rate is the most important indicator of a healthy economy. It should be greater than zero and less than one percent.

The GDP growth rate should reflect the stability of the job market.

I agree with a discount rate at or below 2%, but it should always be greater than zero.

One final factor. Worker immigration should be maintained at a level that supports a stable and healthy job market.

New subject: How do we structure Social Security and Medicare to meet the needs of a growing senior population, where a large portion of it is dependent on one or both to survive?

 

[ZNP]

I believe that the inflation rate is the most important indicator of a healthy economy. It should be greater than zero and less than one percent.

The GDP growth rate should reflect the stability of the job market.

I agree with a discount rate at or below 2%, but it should always be greater than zero.

One final factor. Worker immigration should be maintained at a level that supports a stable and healthy job market.

New subject: How do we structure Social Security and Medicare to meet the needs of a growing senior population, where a large portion of it is dependent on one or both to survive?

I think the US is going to have a complete collapse of their economy so there is no way to rescue social security or Medicare.

But If we are talking about the future and starting all over instead of giving money into a trust fund operated by the government I believe it should be a trust fund where your contribution with each paycheck goes to purchase shares of a ETF S&P 500 fund, a Russell 2,000 fund, a corporate bond fund, a REIT and a government bond fund. The purchases for the entire fund each month should be publicly available, and every State's AG should be considered a member of the board of trustees on this fund that has full access to all records. Meanwhile each person should be able to put in their identifying information into the website and see what their holdings are. In other words it should be treated like a 401k, but it should not be buying any publicly traded funds like Blackrock or any other firm. Instead the purchases would be handled by a separate quasi government office (sort of like the Post Office). With AI, computers and the size of this fund the fees should be less that 0.1%. These funds will become major share holders in several thousand companies so you would need the comptroller of every state to sit in on a number of boards of these companies that they own. You do not want this thing run by the Federal government, with 50 different states involved and with various unions going to the States office to help their members keep an eye on this fund.

You should therefore be able to borrow against your Social Security account the same way we have people borrowing against their 401k. You should also have the option of having your 401k contribution going straight into this Social Security account.

 

[Billyd]

I think the US is going to have a complete collapse of their economy so there is no way to rescue social security or Medicare.

But If we are talking about the future and starting all over instead of giving money into a trust fund operated by the government I believe it should be a trust fund where your contribution with each paycheck goes to purchase shares of a ETF S&P 500 fund, a Russell 2,000 fund, a corporate bond fund, a REIT and a government bond fund. The purchases for the entire fund each month should be publicly available, and every State's AG should be considered a member of the board of trustees on this fund that has full access to all records. Meanwhile each person should be able to put in their identifying information into the website and see what their holdings are. In other words it should be treated like a 401k, but it should not be buying any publicly traded funds like Blackrock or any other firm. Instead the purchases would be handled by a separate quasi government office (sort of like the Post Office). With AI, computers and the size of this fund the fees should be less that 0.1%. These funds will become major share holders in several thousand companies so you would need the comptroller of every state to sit in on a number of boards of these companies that they own. You do not want this thing run by the Federal government, with 50 different states involved and with various unions going to the States office to help their members keep an eye on this fund.

You should therefore be able to borrow against your Social Security account the same way we have people borrowing against their 401k. You should also have the option of having your 401k contribution going straight into this Social Security account.

I don't believe that our economy is going to collapse. We are in for some belt tighten adjustments.

Social Security started as a federal trust fund system. It didn't work. A state run trust fund system is no better. An individually owned and managed trust fund is no better, especially if one is allowed to borrow against it.

Social Security will fix itself when the trust fund runs out. Benefits will automatically adjust to the program income.

 

[ZNP]

I don't believe that our economy is going to collapse. We are in for some belt tighten adjustments.

Social Security started as a federal trust fund system. It didn't work. A state run trust fund system is no better. An individually owned and managed trust fund is no better, especially if one is allowed to borrow against it.

Social Security will fix itself when the trust fund runs out. Benefits will automatically adjust to the program income.

Yes, it might be possible to avoid a total collapse, those who feel that are not calculating in a massive surprise attack much bigger than Pearl Harbor or 911. So make sure your prediction includes the possibility of war because we are about to hit Ezekiel 38 which will ultimately lead into Ezekiel 39.

The only reference to the US in the prophecies is as the Great Babylon, and they get destroyed in a single hour according to Revelation 18.

 

[Billyd]

I don't believe that the US is the Great Babylon. I'll leave that one alone.

A total 24 shutdown of the internet would create much more havoc than an invasion.

A two week shutdown of our port system would put a massive hurt on the US. Look at the results of the partial shutdown of covid19 outbreak.

Both of these would do much more damage to the US than an invasion.

 

[ZNP]

Lyft to cut 1,072 employees, or 26% of its workforce

https://www.cnbc.com/2023/04/27/lyf...-employees-or-26percent-of-its-workforce.html

 

[ZNP]

Tyson Laying Off 15 Percent of Senior Leadership, 10 Percent of Corporate Workers

Layoffs, Automation
Tyson employed roughly 6,000 employees in the United States in corporate offices as of Oct. 1, 2022. It also had 118,000 workers at non-corporate sites like warehouses and meat plants.

Most of the eliminated roles in senior leadership are the posts of senior vice presidents and vice presidents, a company spokesperson said, according to Reuters.


Back in October, Tyson announced that it would relocate all its corporate jobs to the Springdale headquarters, which led to some corporate employees quitting.

The recent memo also highlights the company’s push toward automation. “We have increased efficiency through greater capacity utilization across our plants, closing less productive facilities and investing in digital-forward plants,” the memo said.

“We have made advancements in technology and automation, accelerating how we do difficult, repetitive, and hard-to-fill jobs in our plants. Additionally, we are utilizing technology to improve self-service for administrative tasks across all facilities.”

https://www.theepochtimes.com/tyson...utm_source=partner&utm_campaign=BonginoReport

 

[ZNP]

Business Investment Slumps as Orders for Capital Good Falls

Orders for American-made durable goods has fallen as business investments slump—a sign of an economic slowdown.

The U.S. industrial sector has been falling into a slump after several years of rapid growth, with many economists viewing it as a prelude to a broader recession.

Durable goods orders jumped by 3.2 percent in March but only by 0.3 percent if cars and planes were excluded, according to the Department of Commerce on April 26.

In contrast, core capital goods orders, excluding aircraft and vehicles, rose 11 percent during the same month in 2022.

https://www.theepochtimes.com/busin...utm_source=partner&utm_campaign=BonginoReport

 

[ZNP]

Amazon to Shut Down Halo Division, Lays Off Some Staff

Amazon.com Inc. said on Wednesday it was shutting down its Halo division that sells health and sleep trackers as the technology giant kicks off wider company layoffs.

The company said it will stop supporting Halo services from July 31, and will fully refund Halo devices purchases made in the preceding 12 months.

“We notified impacted employees in the United States and Canada today,” the company said in a blog post.

The company had introduced the original Halo band in 2020, which came as a fitness tracker along with a subscription to certain health monitoring and analysis services from Amazon. It later released a new version called Halo View and Halo Rise, a contact-less sleep tracker, and smart alarm clock.

Like peers Apple Inc. and Alphabet Inc’s Google, Amazon has invested in health-tracking technology for consumers, at times drawing regulatory scrutiny for sensitive information it aimed to collect—like body fat percentage via its fitness wristband.

Amazon, which in March announced it was laying off 9,000 workers as part of its second retrenchment drive, started informing some of the affected employees on Wednesday. Heads of Amazon Web Services and the People Experience and Technology team emailed affected staff about the cuts, the company said.

https://www.theepochtimes.com/amazo...utm_source=partner&utm_campaign=BonginoReport

 

[ZNP]

It has begun

Luke 19:45 And he went into the temple, and began to cast out them that sold therein, and them that bought;

 

[ZNP]

 

[ZNP]

A Torrent Of Layoffs! Here Are 16 Large Companies That Have Just Announced Mass Terminations
April 27, 2023 by Michael

The biggest companies in the United States are giving the axe to hundreds of thousands of workers, but this should not come as a shock to any of us. Officials at the Federal Reserve were warned over and over again that they were going to create an extremely harsh economic environment if they aggressively raised interest rates, and that is exactly what has transpired. We haven’t seen a tsunami of layoffs like this since 2008 and 2009, and the outlook for the months ahead is extremely bleak.

Many of us warned the Fed that it would be mind-numbingly stupid to push interest rates much higher just as we were entering a major economic downturn, but of course the Fed didn’t want to listen.

The following are 16 large companies that have just announced mass terminations…

#1 Tyson: “Tyson Foods Inc (TSN.N) will eliminate about 10% of corporate jobs and 15% of senior leadership roles, Chief Executive Donnie King told employees on Wednesday.”

#2 Lyft: “Ride-hailing app Lyft will lay off 1,072 employees, roughly 26% of its corporate workforce, and won’t hire for an additional 250 positions, the company said in an SEC filing Thursday.”

#3 Deloitte: “Deloitte will cut around 1,200 jobs or 1.5% of its U.S. workforce, the Financial Times reported on Friday, citing internal employee communications.”

#4 Gap: “Gap will lay off about 1,800 employees, more than three times as many as the 500 layoffs it announced in September, as part of a broad effort to cut costs and streamline operations, the company said Thursday.”

#5 Ernst & Young: “Ernst & Young said Monday that it would eliminate roughly 3,000 jobs from its US workforce as it pivots to address shifts in demand and “overcapacity” in sections of its business.”

#6 3M: “The manufacturing behemoth behind some consumer brands, including Post-It Notes and Scotch Tape, said it would lay off 6,000 staff around the world. Those cuts are in addition to the 2,500 manufacturing roles 3M eliminated in January.”

#7 CDW: “CDW’s bombshell announcement this week that it expects first fiscal quarter results below expectations and the apparent layoff of hundreds of its employees is a sign that moderated technology demand since the height of the pandemic is more than just a one-quarter strain for hardware, software and services businesses.”

#8 David’s Bridal: “One of the largest sellers of wedding gowns in the United States, David’s Bridal is laying off thousands of workers nationwide, according to a notice filed to the Pennsylvania Department of Labor.”

#9 DropBox: “Shares of Dropbox are trading about 5% higher today after the company said it plans to slash its global workforce by approximately 16%.”

#10 Red Hat: “Following parent company IBM announcing thousands of layoffs in 2023, Red Hat CEO Matt Hicks told employees Monday that approximately 4 percent of its global workforce will be laid off.”

#11 Opendoor: “Opendoor Technologies on Tuesday said it was cutting roughly 560 jobs, or 22% of the workforce at the online U.S. real estate firm, citing a declining housing market.”

#12 First Republic: “First Republic plans to reduce its workforce between 20% and 25% this quarter following “unprecedented” deposit outflows in the wake of Silicon Valley Bank’s collapse last month, the company said in a regulatory filing on Monday.”

#13 Walmart: “Walmart is laying off more than 2,000 workers at five US warehouses that fulfill website orders in a move that came weeks after America’s largest private employer warned it’s in for a tough year ahead.”

#14 Facebook: “A layoff notice filed with the state this week shows Facebook’s parent company Meta plans to let go 343 employees across three Manhattan offices.”

#15 Amazon: “Amazon has officially started up its most recent round of employee reductions. The company is kicking off its previously announced layoffs of ~9,000 staff by axing workers in its Amazon Web Services (AWS) and human resources sectors.”

#16 Disney: “Disney is laying off several thousand workers across the company this week in the second and largest wave of cuts as part of the media giant’s previously announced plan to slash its workforce by 7,000 employees.”

https://theeconomiccollapseblog.com...s-that-have-just-announced-mass-terminations/

 

[ZNP]

https://theeconomiccollapseblog.com...s-that-have-just-announced-mass-terminations/

Companies announced nearly 90,000 layoffs in March, a sharp step up from the previous month and a giant acceleration from a year ago, outplacement firm Challenger, Gray & Christmas reported Thursday.

Planned layoffs totaled 89,703 for the period, an increase of 15% from February. Year to date, job cuts have soared to 270,416, an increase of 396% from the same period a year ago.

The damage was especially bad in tech, which has announced 102,391 cuts so far in 2023. That’s a staggering increase of 38,487% from a year ago and good for 38% of all staff reductions. Tech already has cut 5% more than for all of 2022, according to the report, and is on pace to eclipse 2001, the worst year ever amid the dot-com bust.

 

[Nehemiah6]

A Torrent Of Layoffs! Here Are 16 Large Companies That Have Just Announced Mass Terminations

What else could one expect? Biden and his henchmen began the SYSTEMATIC DESTRUCTION of the American economy on day one, and everyone just stood by and did nothing. Where were the arrests and incarceration of these domestic enemies? And they are still doing nothing.

 

[ZNP]

What else could one expect? Biden and his henchmen began the SYSTEMATIC DESTRUCTION of the American economy on day one, and everyone just stood by and did nothing. Where were the arrests and incarceration of these domestic enemies? And they are still doing nothing.

wow, he needs our prayers.

 

[ZNP]

Is Silver about to Skyrocket? 05/03/2023

https://rumble.com/v2lpixo-is-silver-about-to-skyrocket-05032023.html

I think Biden's plan is to stop paying Social Security after June 1st and to blame the Republicans for not letting him raise the debt limit. He thinks the elderly would turn against the Republicans but I suspect they will turn against him and demand he be thrown out.

 

[ZNP]

The End of the dollar

https://twitter.com/i/web/status/1641375998913462272

France Buys 65,000 Tons Of LNG From China In First Ever Yuan-Denominated Trade

When Libya tried this it was war.