The Official Recession 2022 TLR Thread

[10:31]

Home sales fell nearly 6% in July as housing market slides into a recession

 

[RickyDiBiase]

The stock market is plunging and the Fed is giving up on a “soft landing” for the economy. Here’s what it wants out of a 'growth recession’ instead | Fortune

“It’s a bit like dripping water torture,” KPMG chief economist Diane Swonk told Bloomberg, as she tried to describe what the Fed is doing to the economy.

fortune.com

 

[Spence]

Took out a couple 0% credit cards and restructured debt months ago. If I can get 5 solid more months out of my current position I can go probably an entire year without a high paying job if I needed to.

 

[North of Death]

The stock market is plunging and the Fed is giving up on a “soft landing” for the economy. Here’s what it wants out of a 'growth recession’ instead | Fortune

“It’s a bit like dripping water torture,” KPMG chief economist Diane Swonk told Bloomberg, as she tried to describe what the Fed is doing to the economy.

fortune.com

Its over bruh, folk still sleeping

 

[North of Death]

August jobs report: Job market 'falling back to earth,' unemployment rises to 3.7%.​

Hiring slowed sharply in August but remained sturdy as employers added 315,000 jobs despite softer consumer spending gains, rising interest rates and a sputtering economy.

The unemployment rate rose from 3.5% to 3.7%, the Labor Department said Friday. That's because the labor force -- the number of people working and looking for jobs -- shot up by nearly 800,000, with many of those on the sidelines streaming into a favorable labor market.

Economists surveyed by Bloomberg had estimated that 300,000 jobs were added last month.

Job gains for June and July were revised down by a total 107,000, painting a somewhat less booming picture of the labor market than previously believed. The change for July was small, still leaving that month with a blockbuster 526,000 additions. But the revision means the economy recovered all 22 million jobs lost in the pandemic in August rather than July as initially thought.

 

[Collateral]

Growth recession?

 

[North of Death]

The worst is yet to come’: IMF issues stark recession warning​

https://www.cnn.com/2022/10/11/economy/imf-world-economic-outlook/index.html

 

[North of Death]

US economy will soon start losing 175,000 jobs a month, Bank of America warn​

New YorkCNN Business —
The Federal Reserve’s fight to squash inflation will cause the US economy to start losing tens of thousands of jobs a month beginning early next year, Bank of America warns.

Although the jobs market remained surprisingly strong in September, the Fed is working hard to change that by aggressively raising interest rates to ease demand for everything from cars and homes to appliances.

The pace of job growth is expected to be roughly cut in half during the fourth quarter of this year, Bank of America told clients in a report Friday.

https://www.cnn.com/2022/10/10/economy/jobs-recession-unemployment/index.html

 

[North of Death]

Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead

Many are hoping for a "step-down" in policy that could see a rate increase of half a point at the December meeting and then a few smaller hikes in 2023.

www.cnbc.com

 

[North of Death]

And so it begins...

 

[North of Death]

Amazon will reportedly lay off 10,000 workers. Here are the other major US companies that have made cuts so far, from Meta to Twitter.

Amazon has become the latest major company to start slashing its headcount as business growth slows and costs increase.

www.businessinsider.com

 

[North of Death]

Beyond Meat Is Struggling, and the Plant-Based Meat Industry Worries

A few years ago, business was booming. That growth has slowed, with some wondering if the number of consumers has reached its limit.

www.nytimes.com

 

[Who Not How]

Yall watch out for dudes driving reckless in expensive vehicles. They trying get you to hit them so they can get out of that high ass car payment.

 

[North of Death]

Amazon deepens tech-sector gloom with another 9,000 layoffs

The slashing focuses on Amazon's highly-profitable cloud and advertising divisions, as well as streaming unit Twitch.

www.reuters.com

 

[Spence]

Definitely getting ugly as hell outside