Spooooooky!!! Anyone else feel like we're in eerily similar times today as we were in 2007-2008. Only top 20% have more savings than pre Covid

[Wild self]

This gonna make The Great Depression look like a cakewalk

 

[Ashyneezz]

Yea, I'm nervous

 

[hayesc0]

This gonna make The Great Depression look like a cakewalk

 

[GnauzBookOfRhymes]

Job creation grinds to a near-halt in February; wages still on the rise

 

[GPBear]

This motherfukker is out here trying to discuss economic policy, when he still believes hulk hogan is a real person, and not a racist m
Foh

 

[Wargames]

Wages have stagnated, the idiot in chief has started a trade war and kept America out of the growing green industry. He's doing to America what he did to Atlantic City........ slowly killing it with his ineptitude

 

[GnauzBookOfRhymes]

Atlanta Fed: US GDPNow estimate for Q1-2019 unchanged at 0.5%

Where's The Recession, You Ask? Reprise


Atlanta revises GDP forecast down

Troubling numbers everywhere....worldwide.

Let’s look at some of the latest foreign data:

• Chinese exports plunged in February, down 20.7% from a year earlier. Exports to their major trading partners were -28.6% U.S., -13.2% EU, -26.5% Honk Kong, and -9.5% Japan. You can’t blame all of this on tariffs. Imports were also down (-5.2% Y/Y). Anecdotal data indicates that layoffs in China have also spiked. And bad debt and bond defaults have risen to concerning levels. That makes the official 6% GDP forecast somewhat of a joke. Some analysts believe that China is already in recession.
• In Germany, factory orders were down -2.6% in January (M/M) and -3.9% from year earlier levels.
• Standard and Poor’s put a “negative” outlook on Mexico’s sovereign credit rating.
• There was contraction in the manufacturing sectors of South Korea and Taiwan.
• Now that some central banks have actually begun to ease (ECB and Bank of Japan (BOJ)) and all of the others are talking dovish, the dollar is going to get even stronger as the U.S. Fed, while talking dovish, is still actually tightening (via Quantitative Tightening (QT)). A stronger dollar puts downward pressure on exports as their translation into other currencies makes them more expensive.

Latest U.S. Data





In the U.S., the latest data continues to surprise to the downside.

• Citi’s USA Surprise Index, which measures the difference between the median Bloomberg consensus estimate and the actual data, was at -43 the first week of March (and that was before the big miss on February’s headline employment report (actual 20,000 vs. consensus 180,000)).
• Consumer spending continues to contract as seen in auto sales, down to 16.6 million units (annual rate) in both January and February, from17.5 million units last fall.

And the volatility in the employment report, itself, for the past two months leaves one wondering if any of this data is to be believed.

• In January, the headline making Establishment Survey (where large businesses are surveyed) came in at a whopping 311,000 (current estimate after February revisions), while the February survey showed a paltry 20,000 net new jobs. That was a big market disappointment.
• In the companion Household Survey (where individual households are queried), January showed a loss of -251,000 jobs, while February showed +255,000. In both months, the surveys told us opposite trends – go figure! Taken over the two months, however, both surveys do indicate slowing in the labor markets.

 

[FAH1223]

 

[DonFrancisco]

I am not a financial expert but the bond market and CD market (yes you are reading this right) are rising. I've seen on-line CDs go for 3,2% for 1 year. The CD market is like a bond market now

 

[blotter]

Actions by federal regulators and Republicans in Congress over the past two years have paved the way for banks and other financial companies to issue more than $1 trillion in risky corporate loans, sparking fears that Washington and Wall Street are repeating the mistakes made before the financial crisis.

The moves undercut policies put in place by banking regulators six years ago that aimed to prevent high-risk lending from once again damaging the economy.


https://www.washingtonpost.com/busi...61983b7e0cd_story.html?utm_term=.c4657d09d03e

 

[GnauzBookOfRhymes]

Actions by federal regulators and Republicans in Congress over the past two years have paved the way for banks and other financial companies to issue more than $1 trillion in risky corporate loans, sparking fears that Washington and Wall Street are repeating the mistakes made before the financial crisis.

The moves undercut policies put in place by banking regulators six years ago that aimed to prevent high-risk lending from once again damaging the economy.


https://www.washingtonpost.com/busi...61983b7e0cd_story.html?utm_term=.c4657d09d03e

Honestly although immediate post Great Recession lending standards were tightened up. Definitely been more lax as well on the personal/consumer credit side as well.

 

[Wild self]

2020's gonna be a hell of a decade.

 

[the cac mamba]

I am not a financial expert but the bond market and CD market (yes you are reading this right) are rising. I've seen on-line CDs go for 3,2% for 1 year. The CD market is like a bond market now

yeah ive got that CIT bank savings account for 2.45% not even a CD

 

[mastermind]

have you noticed a lot of stores closing in DC?

A starbucks closed in Dupont Circle.

 

[FAH1223]

have you noticed a lot of stores closing in DC?

A starbucks closed in Dupont Circle.

Yep and Shoppers are closing too.

https://www.bizjournals.com/washing...on-braces-for-closure-of-shoppers-stores.html