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The Atlantis Report, 10/23/23
"The US Economy Is Staring
At A Complete Economic Meltdown"
"Economic experts around the world are sounding the alarms, warning that a recession is looming on the horizon in 2023. The Global Economy has faced unprecedented challenges in recent years,and the signals pointing towards an upcoming economic downturn have grown increasingly concerning. Geopolitical tensions, energy market imbalances, persistently high inflation and rising interest rates are the key factors at play. It has been reported that economists are divided on what are the odds of the United States facing a recession in the next 12 months. 48 Percent of economists believe that a depression is likely, and 70 percent of consumers believe that it is inevitable. This will have drastic effects on the broader economy and affect every American household."
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Strike, 10/22/23
"US Banks Just FIRED 20,000 Employees - Banks Collapse"
"In recent news, it has come to light that the five largest banks in America have quietly fired a staggering 20,000 employees. This downsizing trend within the big banks has been happening discreetly, with the possibility of further layoffs looming on the horizon. If we examine the actions of these five banks, we will find that they have collectively cut approximately 20,000 jobs this year alone. Among these banks, Wells Fargo takes the lead as the main perpetrator, having cut around 11,000 jobs, amounting to about 5% of their workforce, in the current year.
What is particularly surprising is that these layoffs went unnoticed by the public and were barely covered by the media. Most people were expecting a smooth transition, unaware of the impending job cuts. Despite this, it is essential to maintain belief in the potential for a soft dish landing. The banks' primary objective remains to achieve a soft landing, and I have not stated otherwise.
The obvious question arises: why would five of the largest banks in America quietly lay off 20,000 employees? The answer lies in their preparations for an upcoming impact. These banks, well-aware of what lies ahead, anticipate a storm that could surpass the magnitude of the previous financial crisis. This perspective is not merely an opinion, but rather a careful examination of the data, facts, consumer behavior, the state of the economy, and the global context. The present times differ significantly from what was experienced in 2008. In this video, I will delve into the specifics to shed light on the current situation."
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"Unprecedented US Fiscal Doom Loop Getting Worse"
By Quoth The Raven
Excerpt: "US Fiscal Doom Loop Getting Worse: In our view, the biggest elephant in the room is the US Fiscal Doom Loop. To refresh: US Government spending is out of control, and there appears to be very little political will to stop it. As the chart below shows, Government spending is up 14% yoy and tax receipts are down 7% yoy. Fiscal year ended September 2023 is projected to have a deficit of over $2 Billion (or roughly 8% of GDP). In the past, deficits of this magnitude only materialized during significant downturns like the bursting of the Dotcom Bubble, the 2008 GFC and the COVID crisis. It is unprecedented to have deficits of this magnitude with the economy and employment being relatively strong."
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