It looks like Biden's recession is going to get a lot worse. That does not bode well for the Democrats in the mid term, does it?
14 Signs US Economy Poised To Crash Really Hard During Second Half Of 2022
#1 One survey that was just released discovered that 35 percent of all small business owners in the U.S. “could not pay their rent in full or on time in June”.
#2 A different survey found that 51 percent of all small businesses owners in the U.S. believe that rising prices could “force them to close their businesses within the next six months”.
#3 It is being reported that 45 percent of all small businesses in the U.S. have already decided to freeze the hiring of new workers.
#4 Sales of previously owned homes dropped 5.4 percent during the month of June. That is now the fifth month in a row that we have seen a decline.
#5 In three-fourths of the metro areas that Redfin tracks, at least 25 percent of home sellers reduced their asking price during the month of June.
#6 Blackstone has prepared a war chest of 50 billion dollars so that it can scoop up depressed real estate all over the country after housing prices have crashed in the months ahead.
#7 The number of Americans applying for jobless benefits has risen to the highest level in eight months.
#8 Employment postings for software development jobs have dropped off by more than 12 percent during the past four weeks.
#9 The Conference Board’s index of leading economic indicators has now fallen for four months in a row.
#10 The S&P Global Flash U.S. PMI Composite Output Index just went negative for the very first time since the last recession.
#11 The latest number for the Philadelphia Fed manufacturing index came in at -12.3, and that was much worse than what most experts were anticipating. Any reading below zero indicates contraction, and needless to say this reading was way below zero.
#12 Inflation continues to rage out of control even as economic activity in the U.S. significantly slows down. If you can believe it, the average price of a used vehicle in the United States has now risen to a whopping $33,341.
#13 The Atlanta Fed is now projecting that U.S. economic growth for the second quarter will come in at -1.6 percent. If it is ultimately confirmed that the U.S. economy has already been contracting for two quarters in a row, that would mean that we are officially in a recession right now.
#14 Thanks in part to the rapidly tanking economy, Joe Biden’s approval rating has plunged all the way down to 31 percent.
At this point, even the tech giants are extremely concerned about what is coming.
For years, nothing could seem to quash the relentless optimism of the big tech companies, and their stocks soared to absolutely absurd heights.
But now everything has changed as we head into the second half of this year.
The following comes from the Washington Post…
Big Tech is bracing for an economic recession and an uncertain future. That, in turn, is triggering more economic angst.
The biggest tech firms, most of whom report quarterly earnings next week, have offered recent hints they are hunkering down. News of layoffs and hiring slowdowns have become commonplace across Silicon Valley. Start-ups are saying capital is drying up. Workers are being put on notice that businesses are changing.
14 Signs US Economy Poised To Crash Really Hard During Second Half Of 2022 - The Washington Standard