White Collar Recession? Ripped From The Headlines, April 30, 2024
China To Deploy Economic Nuclear Option? The White Collar Recession Is On, US Consumer Confidence Craters - Read, Share, & Subscribe - SherlocExposes.com
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“China has been buying up commodities at a rapid clip, prompting analysts to wonder out loud whether Beijing is preparing to choose the economic ‘nuclear option.’
‘China is preparing for something major. That seems increasingly obvious judging from the stockpiling of important resources. Could it be that they are preparing a major one-off devaluation of the CNY?’ Andreas Steno Larsen, CEO of Steno Research, wrote last week.
Currency devaluation is widely described as a ’nuclear option’ by economists due to the serious global repercussions it could trigger.
By intentionally devaluing the yuan, for instance, China could boost exports by making its goods cheaper and more competitive—but not without serious repercussions such as riling trade partners and worsening the country's trade war with the United States.
Accumulating resources like gold and oil beforehand could provide some financial security and bargaining power, helping to stabilize the economy against potential negative effects of a devaluation, such as increased import costs and inflation.”
THINGS TO PONDER:
As regular Ripped From The Headlines readers already know, this has been coming for a long time…
Before this acceleration of stockpiling resources, the Chinese had been buying up land, rights, and anything else they could get their hands on in the resource wars for the last 10-15 years…
Right in line with the China 2049 plan.
Here’s the deal: Leadership in China is determined, patient, and engages in warfare with a different set of rules… including their ideals… which call for a “Sino Dominant World.”
Let that sink in for a second…
Once you do, think about how the US is handling things…
If you didn’t know better, you’d think that our government is a part of the China plan, right?
It’s time to wake up.
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“Over the past year or so, pretty much everyone who's looked for a job has told me the same thing: The job market is brutal right now. They've applied to dozens if not hundreds of openings, only to get one or two callbacks. No one's hiring, they tell me. I've never seen it this bad.
The dissonance finally started to make sense to me when Vanguard, the investment-management company, released its latest report on hiring. By looking at the enrollment and contribution rates of its 401(k) retirement plans, Vanguard is able to calculate a national hiring rate broken down by income level. And what the numbers show is a two-tier job market — one divided between a blue-collar boom and a white-collar recession.
Among Vanguard's lowest earners — those who make less than $55,000 — the hiring rate has held up well. At 1.5%, it's still above pre-pandemic levels. But among those who make more than $96,000? It's pretty depressing. Hiring has slowed to a dismal 0.5%, less than half the peak it reached in mid-2022. Excluding the dip in the early months of the pandemic, that's the worst it's been since 2014. If you make a six-figure salary, it really is a bad time to be looking for a job.
But there could be a bigger, more worrisome explanation for the downturn in white-collar hiring. Maybe companies are anticipating tough times ahead and trimming their budgets accordingly. ‘If you need to pull back on costs,’ says Fiona Greig, the global head of investor research and policy at Vanguard, "pulling back on expensive workers will reduce costs to a greater extent than pulling back on your lower-income workers." Translation: The more you earn when budgets are tight, the less an employer wants to hire you.”
THINGS TO PONDER:
It’s amazing what you’ll find when you dig into the numbers…
This writer, like many, has continued to believe the lies that “the economy and job market are great!”
Until they ask, “Why do I keep hearing different from actual people?”
And THAT is the right question.
Here’s the deal: The jobs that provide the most upward mobility are the most scarce… that means people are working, but no one can really afford anything.
That’s a recipe for disaster…
Which you’re seeing play out in real life right now.
With quotes like this:
“Maybe companies are anticipating tough times ahead and trimming their budgets accordingly. ‘If you need to pull back on costs,’ says Fiona Greig, the global head of investor research and policy at Vanguard, "pulling back on expensive workers will reduce costs to a greater extent than pulling back on your lower-income workers." Translation: The more you earn when budgets are tight, the less an employer wants to hire you.”
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“U.S. consumer confidence deteriorated in April, falling to its lowest level in more than 1-1/2 years amid worries about the labor market and income, a survey showed on Tuesday.
The Conference Board said that its consumer confidence index fell to 97.0 this month, the lowest level since July 2022, from a downwardly revised 103.1 in March. Economists polled by Reuters had forecast the index little changed at 104.0 from the previously reported 104.7.
‘Confidence retreated further in April as consumers became less positive about the current labor market situation, and more concerned about future business conditions, job availability, and income,’ said Dana Peterson, chief economist at the Conference Board in Washington.
‘According to April's write-in responses, elevated price levels, especially for food and gas, dominated consumer’s concerns, with politics and global conflicts as distant runners-up.’
THINGS TO PONDER:
Interesting what happens when you get to the root of the issue(s), isn’t it?
Politics… global conflicts… bickering and infighting… no one cares.
What they care about is whether or not they can feed their families, pay their bills, and enjoy some semblance of the American dream.
Reports like this one show just how NOT aligned your interests are with those who you’ve sent to represent you…
And now people are paying attention.
Good news alert: With all of this happening, you have the best opportunity ever to force those who represent your interests to do exactly what you sent them to do. You just have to put the pressure on them.
Will you answer the call?
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