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(The Economic Collapse Blog)—It looks like investors are starting to figure it out. Bad economic numbers continue to come pouring in, but so far the Federal Reserve has refused to pull the trigger on a rate cut. We have seen this story before, and it never ends well. It is often said that “he who hesitates is lost”, and in this case the Fed’s hesitation could mean a tremendous amount of economic pain during the months ahead. On Thursday, Wall Street responded to the Fed’s inaction by throwing a bit of a temper tantrum. At one point the Dow Jones Industrial Average was down 744 points, and it closed the session down 494 points…
The Dow dropped 494.82 points, or 1.21%, to end at 40,347.97. At its session lows, the 30-stock index lost 744.22 points, or about 1.8%. The S&P 500 shed 1.37% to end at 5,446.68, while the Nasdaq Composite slipped 2.3% to 17,194.15. The Russell 2000 index, the small-cap benchmark that has rallied lately, dropped 3%.
Many still believe that the Fed will give us a rate cut in September.
But there are others that are concerned that “the Fed may not be acting quickly enough to keep America’s job market in good shape”…
The narrative on Wall Street is shifting.
Traders have long placed their bets on the Federal Reserve cutting rates in September, and Fed Chair Jerome Powell basically confirmed as much Wednesday.
That rate cut, expected in six weeks, was priced in to stocks, which have been rising over the past few months in hopes of a cut. Rate cuts tend to juice stocks, because they lower borrowing costs for businesses and can help boost profits.
But now, fear is starting to take hold, as concerns mount that the Fed may not be acting quickly enough to keep America’s job market in good shape.
Economist Claudia Sahm is one prominent expert that is deeply alarmed by the Fed’s lack of action.
Considering all of the troubling numbers that we have seen in recent days, she is wondering what they are waiting for…
If the Federal Reserve is starting to set the table for interest rate reductions, some parts of the market are getting impatient for dinner to be served.
“What is it they’re looking for?” Claudia Sahm, chief economist at New Century Advisors, said on CNBC just after the Fed concluded its meeting Wednesday. “The bar is getting set pretty high and that really doesn’t make a lot of sense. The Fed needs to start that process back gradually to normal, which means gradually reducing interest rates.”
DoubleLine CEO Jeffrey Gundlach is using even stronger language.
He says that the Fed is risking a recession by not making a move now…
DoubleLine CEO Jeffrey Gundlach also thinks the Fed is risking recession by holding a hard line on rates.
“That’s exactly what I think because I’ve been at this game for over 40 years, and it seems to happen every single time,” Gundlach said, speaking to CNBC’s Scott Wapner on “Closing Bell” on Wednesday. “All the other underlying aspects of employment data are not improving. They’re deteriorating. And so once it starts to get to that upper level, where they have to start cutting rates, it is going to be more than they think.”
Of course there are many numbers that seem to indicate that we may already be in the early stages of a new recession. For example, earlier today we learned that the ISM manufacturing index was in contraction territory once again last month…
The ISM (Institute for Supply Management) Manufacturing PMI registered 46.8% last month, indicating industry economic activity contracted at a faster rate when compared to June’s figure of 48.5%.
“After breaking a 16-month streak of contraction by expanding in March, the manufacturing sector has contracted the last four months,” says Timothy Fiore, chair of the ISM’s manufacturing business survey committee.
In addition, initial applications for unemployment benefits jumped to the highest level in about a year last week…
New economic data revealed that first-time applications for jobless benefits rose last week to an estimated 249,000 filings. That’s the highest tally since last August, according to the Labor Department. Meanwhile, continuing claims, filed by people who have received unemployment benefits for at least a week, jumped to 1.877 million. That’s the highest level since November 2021.
Sadly, a lot more layoffs are coming as thousands upon thousands of businesses get into very serious trouble all over the nation.
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This week, we learned that a furniture retailer that had survived the Great Depression, the Great Recession and the COVID pandemic is closing all 380 of their stores and filing for bankruptcy…
A 120-year-old furniture chain will shutter all 380 stores after its parent company filed for bankruptcy — the latest brick-and-mortar business to buckle from high overhead costs and massive debt.
Badcock Home Furniture & More, which has stores throughout the South, announced a “going out of business” sale Tuesday.
The company was purchased last year by Conn’s, a Texas-based furniture retailer, which filed for bankruptcy last week.
After 120 years, this is how it ends.
Of course there are lots of other retailers that have also been going belly up this year…
Other furniture chains, including Bob’s Stores, Z Gallerie and Mitchell Gold + Bob Williams, filed for bankruptcy this year.
Overall, US retailers had announced the closure of almost 2,600 stores in 2024.
If the U.S. economy really is in “good shape” like the mainstream media is insisting, then why is this happening?
In my opinion, we are experiencing the leading edge of an economic storm which will greatly intensify during the second half of 2024.
And the outlook for 2025 is absolutely dismal.
So what should you do about all of this?
In the short-term, protect your assets and build up a sizable emergency fund. No matter what happens, you are going to need to have enough money to pay your bills.
In the long-term, I am entirely convinced that we are going to experience the most painful period in our entire history.
Our leaders have been making incredibly bad decisions for decades, and now we have entered a time when the consequences of those decisions will become obvious to all of us.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Smoke And Mirrors: What Happens After Biden’s Economic Manipulations Disappear?
by Brandon Smith
There is a popular school of thought that believes most economic stability is purely psychological; that the health of the economy relies on the population NOT knowing the true state of things. In other words, “ignorance is bliss.” I partially agree with the premise but only under certain conditions. If…
Kamala Harris Has a ‘Conversation’ With the National Association of Black Journalists
by Red State
Vice President and selected Democrat nominee Kamala Harris did not have to wait like former President and GOP nominee Donald Trump for the National Association of Black Journalists (NABJ) to get their technology together on Tuesday. They were right on time for this “Conversation with Vice President Kamala Harris” in…
Vaccine-Injured Americans Fight to Hold Biden-Harris Admin Accountable Over Censorship Campaign
by The Blaze
Novel COVID-19 vaccines advertised as “safe and effective” left multitudes of Americans injured or worse during the pandemic. Some of those individuals still physically capable went online to express their concerns, share their life-changing experiences, and engage with others medically compromised by government mandates and experimental science. However, in many…
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ABC News Hits the Panic Button After Sworn Statement Proving the Debate Was Rigged, David Muir Does Damage Control
by Joe Kovacs, WND
(WND News Center)—ABC News is apparently pressing the panic button in the wake of fierce criticism of its Sept. 10 presidential debate between former President Trump and Vice President Kamala Harris. A sworn statement by an ABC News whistleblower exposing network bias favoring Harris continues to be in focus regarding…
The FBI Should Visit the New York Times About Instigating More Anti-Trump Violence
by The Federalist
If the price to pay as a Republican running for president is the media blaming you for being nearly assassinated, they are culpable. The FBI should consider stopping by the homes of New York Times reporters Michael Barbaro and Peter Baker after their slew of public remarks about Donald Trump…
IT NEVER ENDS! Soros-Funded Group Doubling Down on Censorship Efforts Ahead of 2024 Election
by Newsbusters
A radical censorship-obsessed group financed by leftist billionaire George Soros is doubling down on efforts to interfere in the 2024 election by turning the screws on Big Tech to censor speech and by manipulating journalists. Free Press, fueled with at least $2 million by Soros between 2017 and 2021, announced…
NYPD: 81-Year-Old Woman Knocked Unconscious in Random Attack, Suspect on the Loose
by Breitbart
An elderly New York City woman was injured in an unprovoked attack when a random man sucker punched her in the head while she was walking her dog, surveillance footage shows. The victim, 81, was out with her dog on Friday just after 7:00 p.m. near W. 66th St. and…
Wi-Fi Routers Are ‘Significant EMF Emitters’ and ‘Should Be Away From Livingrooms/Bedrooms’ — Study
by Infowars
A recent scientific study on the specific absorption rate (SAR) values in the brain and body from electromagnetic frequencies (EMF) emitted by modern electronic devices indicate that certain tech devices, such as Wi-Fi routers, should not be in the same rooms that people spend much of their time in, such…
America First Legal Investigates Biden Admin’s Potential Knowledge of Second Trump Shooter
by Daily Caller
The conservative group America First Legal (AFL) is investigating whether the Biden-Harris administration was monitoring Ryan Wesley Routh, the suspect who allegedly attempted to assassinate former President Donald Trump on Sunday. AFL announced Tuesday it was launching a “multi-front” investigation into any records the Biden-Harris administration may possess on Routh….
With a Male Player, San Jose State University Women’s Volleyball Is Having Its Best Season Ever
by The Blaze
The women’s volleyball team at San Jose State University remained undefeated and is now 6-0 following its latest victory. The team is off to its best start in program history, according to OutKick, and continued its hot streak with a 3-2 win over fellow NCAA Division I Santa Clara. The…
Klaus Schwab Calls for “Global Collaboration” to Combat “Misinformation”
by Reclaim the Net
It will take serious research and serious access to information ever to figure out which came first, the WEF chicken, or the WEF egg. But this unelected, informal group of highly influential global elites has often been able to either seemingly predict, or seemingly help make happen – some major…
‘I Reached Out’: Chris Cuomo Reveals What He Told Trump After Second Assassination Attempt
by Daily Caller
NewsNation host Chris Cuomo on Monday said he expressed condolences to Donald Trump after the second attempt on his life on Sunday, saying the former president “doesn’t deserve” to face assassination attempts. Federal and local officials confirmed Sunday the arrest of 58-year-old Ryan Wesley Routh for allegedly attempting to assassinate…
ABC’s ‘World News Tonight’ Ratings Tank After Hosts’ ‘One-Sided’ Moderating of Trump-Harris Debate
by Harold Hutchison, Daily Caller News Foundation
(DCNF)—Ratings for ABC’s “World News Tonight” fell by over 10% since the Sept. 10 debate between former President Donald Trump and Vice President Kamala Harris hosted by ABC News hosts David Muir and Linsey Davis. The Disney-owned network’s broadcast news program hosted by Muir that airs at 6:30 p.m. EDT…
Federal Loopholes Allow China to Buy Land Near Sensitive Ports, Labs, and Coast Guard Facilities, Prompting Congressional Concern
by Free Beacon
China and other foreign adversaries are still permitted to purchase U.S. land near sensitive Coast Guard facilities, ports, and Energy Department labs, exposing national security gaps that lawmakers say enable hostile regimes to conduct espionage operations on American soil. The Treasury Department’s Committee of Foreign Investment in the United States…
Iran’s Ambassador to Lebanon Reportedly Injured by Exploding Pager
by Red State
I’m not sure who had exploding pagers on their Bingo cards for 2024, but why not? As Bonchie reported earlier: In one of the most unbelievable developments of 2024, Israel somehow hacked into the pagers and cell phones of Hezbollah fighters and caused them to explode. News of hundreds of…
Trump Issues a “Cease and Desist” to Election Cheaters, Promises Retribution for Those Who Don’t Heed the Warning
by Fred Lucas
(The Daily Signal)—As early voting begins this week in the battleground state of Pennsylvania, former President Donald Trump posted another warning to cheaters on Truth Social. “CEASE & DESIST,” the 45th president posted Tuesday. “I, together with many Attorneys and Legal Scholars, am watching the Sanctity of the 2024 Presidential…
Lawmaker Warns of Rising Trend of ‘Hostage Diplomacy’ After China Releases Us Citizen
by The Epoch Times
The top Republican on the Foreign Affairs Committee said “hostage diplomacy” is on the rise, a day after the Chinese regime released an American citizen and pastor who had been detained for nearly 20 years. The State Department announced on Sept. 15 that David Lin, who was on a missionary…
Hillary Clinton Calls for Americans Who Disagree With Democrat Narratives to Be Imprisoned
by Cindy Harper, Reclaim The Net
(Reclaim The Net)—Former US Secretary of State Hillary Clinton has has decided to ignore the First Amendment and has advocated for punitive measures aimed at Americans who contribute to the spread of what she calls “propaganda.” Speaking to MSNBC on Tuesday, Clinton suggested that holding American individuals accountable through civil…
CBS Ties 2nd Trump Assassination Attempt to Springfield, Buries Threat Hoaxes
by Newsbusters
With the aftermath of the second assassination attempt on former President Donald Trump drawing significant coverage, the Springfield “dogs and cats” story is beginning to recede from view- except on CBS, which chose to flog the story for at least one more night. Watch CBS Evening News anchor Norah O’Donnell’s…
Exposing the Lethal Fraud of Gender Ideology: Dr. Ann Gillies’ Documentary Unmasks the SOGI Agenda in Schools
by RAIR Foundation
Dr. Ann Gillies, who was featured in a RAIR Dr. Ann Gillies, who RAIR featured in an article on July 3rd, has created a 45-minute documentary exposing the dangerous and sometimes lethal fraud of SOGI (Sexual Orientation and Gender Ideology), which is being promoted in both Canadian public and Catholic…