Another indicator, and this according to some articles I’ve read, is that over 90 percent of Americans have some side hustle going on, and sure, some folks want to make a little extra cash but many others are doing it to pay the bills. My neighbor does Instacart to earn some cash to pay off her car, and she told me they are having a hard time getting new people to sign on right now because the profit margin is extremely thin and tips are drying up so the bottom line is that you’re barely making minimum wage.
But be of good cheer fine people of Illinois. Our wonderful benefactor-governor has approved every taxpayer in the state to receive $50.00 to help with this nasty inflation. Plus, and please hold on to your seats! They have suspended the 1 percent sales tax on groceries. Don’t spend all that extra wealth in one place.
Jul 1, 2022·edited Jul 1, 2022Liked by Jeffrey Carter
Good post as usual.
I am a tad more optimistic, and I do not think housing is going to be unduly influenced in the economic issues especially with rents so high and climbing. Location, too, is important.
HOWEVER . . . I own and run a successful and robust military history publishing company. The world in which I swim in infested with left-of-center people. Some authors have become wonderful friends over the years, and they are nice folks, but we do not talk politics. Only books and history.
That said, many BELIEVE Biden. We have a robust social media program, and I rarely scroll around because I am so disgusted when I see what some of my authors and friends write and believe.
Do not be fooled by Biden's low ratings. A healthy number of these people may think the country is on the wrong footing, BUT they still blame the GOP, guns, Trump, Reagan, Coolidge, et. al.
We must work together hard and not get cocky and make sure this November wipes out the Left. And I no longer use Democrats. I call them what they are--Leftists, Socialists, Marxists, etc. They are not Democrats in the American sense of the word.
Jamoke. A word I haven't seen in some time, but it describes people like Deese and Emanuel perfectly.
This is a possible definition: adj.: Someone who has "never built anything in their lives but worked the non-government organization circuit, got placed in a do-nothing position with some private-sector organization that favors Democrats to make it look good."
I own a couple restaurants, and restaurants are great leading indicators. I have seen sales dip uncharacteristically right before a recession begins; or, anyone knows we are in one.
At this point, with Covid, it's too difficult to base any theories on sales, but I can tell you that prices are still sky high on the supply side. Labor is still scarce, but better than it was 6 months ago, when there was NO ONE. Things are softening a bit.
I too get the feeling that we are nowhere near the bottom, and that there is still a lot of room to go. I think that the data for earnings in the coming weeks is going to be abysmal. Sales will be flat and costs will be up. Way up.
I'd love to see Deese say what he said to the faces of my buddies at the sportsman's club. There might be a total of 30 college degrees among the 500 or so members there. Many of them are contractors, who have seen their costs go through the roof and will now charge customers for extra runs to Home Depot for supplies if they don't have something they need.
When asked what their plan was to deal with inflation, either Biden or Harris said “we are going to lower prices”.
Regarding your Bloomberg appearance, for the last few months I especially enjoyed the 35 year old guests on the financial networks who have never seen a bear market try to paint a rosy picture about everything and talk about soft landings. Gaslighting everywhere.
Joe Biden gives no evidence of being able to evaluate advice and to filter it for the 'GOOD STUFF." As you so ably and correctly note, he is surrounded by lightweights.
His absurd utterance in Madrid that inflation and high - highest ever - gas prices are the price tag to confront Putin in Ukraine is pure nonsense.
Nobody is fooled by this fool.
There is not a single policy initiative undertaken by this admin in the last 12 months that will dampen or ease inflation and there are a goodly number that will exacerbate it.
We are doomed for the next two years. Until then it is going to get very, very dicey.
Another indicator, and this according to some articles I’ve read, is that over 90 percent of Americans have some side hustle going on, and sure, some folks want to make a little extra cash but many others are doing it to pay the bills. My neighbor does Instacart to earn some cash to pay off her car, and she told me they are having a hard time getting new people to sign on right now because the profit margin is extremely thin and tips are drying up so the bottom line is that you’re barely making minimum wage.
But be of good cheer fine people of Illinois. Our wonderful benefactor-governor has approved every taxpayer in the state to receive $50.00 to help with this nasty inflation. Plus, and please hold on to your seats! They have suspended the 1 percent sales tax on groceries. Don’t spend all that extra wealth in one place.
Good post as usual.
I am a tad more optimistic, and I do not think housing is going to be unduly influenced in the economic issues especially with rents so high and climbing. Location, too, is important.
HOWEVER . . . I own and run a successful and robust military history publishing company. The world in which I swim in infested with left-of-center people. Some authors have become wonderful friends over the years, and they are nice folks, but we do not talk politics. Only books and history.
That said, many BELIEVE Biden. We have a robust social media program, and I rarely scroll around because I am so disgusted when I see what some of my authors and friends write and believe.
Do not be fooled by Biden's low ratings. A healthy number of these people may think the country is on the wrong footing, BUT they still blame the GOP, guns, Trump, Reagan, Coolidge, et. al.
We must work together hard and not get cocky and make sure this November wipes out the Left. And I no longer use Democrats. I call them what they are--Leftists, Socialists, Marxists, etc. They are not Democrats in the American sense of the word.
Jamoke. A word I haven't seen in some time, but it describes people like Deese and Emanuel perfectly.
This is a possible definition: adj.: Someone who has "never built anything in their lives but worked the non-government organization circuit, got placed in a do-nothing position with some private-sector organization that favors Democrats to make it look good."
I own a couple restaurants, and restaurants are great leading indicators. I have seen sales dip uncharacteristically right before a recession begins; or, anyone knows we are in one.
At this point, with Covid, it's too difficult to base any theories on sales, but I can tell you that prices are still sky high on the supply side. Labor is still scarce, but better than it was 6 months ago, when there was NO ONE. Things are softening a bit.
I too get the feeling that we are nowhere near the bottom, and that there is still a lot of room to go. I think that the data for earnings in the coming weeks is going to be abysmal. Sales will be flat and costs will be up. Way up.
One caveat: I could be totally wrong. :-)
Oligarch's gonna Fascist. Whatchagonna do...?
Brian Deese! I wrote a little song in his honor back when he was one of Obama's 'Czars'....Ruler of the Auto Industree:
https://chicagoboyz.net/archives/7390.html
I'd love to see Deese say what he said to the faces of my buddies at the sportsman's club. There might be a total of 30 college degrees among the 500 or so members there. Many of them are contractors, who have seen their costs go through the roof and will now charge customers for extra runs to Home Depot for supplies if they don't have something they need.
When asked what their plan was to deal with inflation, either Biden or Harris said “we are going to lower prices”.
Regarding your Bloomberg appearance, for the last few months I especially enjoyed the 35 year old guests on the financial networks who have never seen a bear market try to paint a rosy picture about everything and talk about soft landings. Gaslighting everywhere.
Joe Biden gives no evidence of being able to evaluate advice and to filter it for the 'GOOD STUFF." As you so ably and correctly note, he is surrounded by lightweights.
His absurd utterance in Madrid that inflation and high - highest ever - gas prices are the price tag to confront Putin in Ukraine is pure nonsense.
Nobody is fooled by this fool.
There is not a single policy initiative undertaken by this admin in the last 12 months that will dampen or ease inflation and there are a goodly number that will exacerbate it.
We are doomed for the next two years. Until then it is going to get very, very dicey.
JLM
www.themusingsofthebigredcar.com
You called it. But it's not just the economy. They've screwed up everything they've touched.
I love it when you go on a tear. Not even one Germans at Pearl Harbor moment either. ;-)