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Great Recession 2.0? Americans pull hundreds of billions out of banks at fastest pace in four decades

https://www.naturalnews.com/2023-06-13-great-recession-americans-pull-billions-out-of-banks.html

June 13, 2023 -

According to an analysis of the most recent data from the Federal Deposit Insurance Corporation (FDIC), "depositors took a total of $472 billion out of their accounts in the first quarter of this year – shattering a 39 year record," the Daily Hodl reported.

“The quarterly decline is the largest reduction reported in the QBP since data collection began in 1984. This was the fourth consecutive quarter that the industry reported lower levels of total deposits," the FDIC report ...

America heading toward a housing market crash worse than the Great Recession

https://www.naturalnews.com/2023-09-28-america-housing-market-crash-worse-great-recession.html

September 28, 2023 -

"This will be the greatest crash in the history of housing," warned financial expert John Perez, who predicted that, following the crash, average housing prices across the country could plummet by 50 to 70 percent, bringing prices down to pre-1995 levels. "This is going to be a wipeout like we've never seen before." (Related: Nearly 800,000 Californians behind on rent, with over $5B accumulated rental debts.)

Fannie Mae, a government-backed mortgage financing corporation, ...

Number of Americans defaulting on subprime auto loans nearing levels not seen since the Great Recession

https://www.naturalnews.com/2023-05-09-americans-defaulting-subprime-auto-loans-great-recession.html

May 09, 2023 -

This is according to a new report from Florida-based fixed-income asset manager Bramshill Investments. The company's report noted that inflation and higher interest rates from the Federal Reserve – and as much as 20 percent interest rates on used cars – have been eroding the paychecks of all consumers in the United States.

"It is very apparent to us that it is negatively affecting subprime borrowers – who tend to have lower credit scores and lower incomes – more harshly ...

Huge decline in cardboard box sales indicates RECESSION

https://www.naturalnews.com/2023-08-08-huge-decline-cardboard-box-sales-shouting-recession.html

August 08, 2023 -

In a July 24 press release, the Packaging Corporation of America (PCA) reported that cardboard box sales dropped 9.8 percent in the second quarter of 2023. The number was among the largest drops, ranking next to the 12.7 percent slump in the first quarter.

According to FreightWaves Research, the combined six-month decline of 22.5 percent in sales of PCA's cardboard boxes is the largest drop since early 2009. The company has now witnessed year-on-year downturns for the ...

Corporate America experiencing BANKRUPTCY BOOM as recession looms

https://www.naturalnews.com/2023-05-25-corporate-america-experiencing-bankruptcy-boom-recession-looms.html

May 25, 2023 -

The increase in bankruptcy reports is most visible among some of the country's largest corporations, 236 of which filed for bankruptcy in the first four months of the year – more than double the number of similarly-sized companies that made the same filing in 2022, according to market research firm S&P Global Market Intelligence.

Large recognizable companies with hundreds or even thousands of workers have filed for bankruptcy protection in recent weeks. These include retail ...

U.S. government’s “outlawing” of financial recession GUARANTEES an upcoming massive COLLAPSE

https://www.naturalnews.com/2024-02-20-us-government-outlaws-financial-recession-guarantees-massive-collapse.html

a month ago -

Every so-called "recession" since 1981-82 has not truly been the real thing as recessions have effectively been outlawed by the powers that be. Monetary policy is such that the American "free market" economy is never truly allowed to correct itself because the Ponzi Protection Team is always right there to rig it back up again.

Each time this happens, the bubble economy grows larger and larger. Eventually it will pop no matter how they try to rig it, and the longer they play ...

Copper-gold price ratio indicates unhealthy economy, raising possibility of RECESSION

https://www.naturalnews.com/2023-05-25-copper-gold-ratio-indicates-unhealthy-economy-recession.html

May 25, 2023 -

The copper-gold ratio is regularly used as a financial indicator by institutional asset managers to gauge the overall health of the economy, investor sentiment regarding the market and future inflation expectations. (Related: Central banks continue their streak of accumulating more gold in 2023.)

Copper and gold are two key commodities regularly traded in the American financial world due to their distinct properties and uses. Copper is an industrial metal widely used in ...

Slowing fuel demand stokes fears of impending RECESSION in the US

https://www.naturalnews.com/2023-05-09-slowing-fuel-demand-stokes-fears-impending-recession.html

May 09, 2023 -

The demand for diesel – the fuel of the industrial economy – has dropped abruptly as freight markets settle down. Fuels for vehicles have also seen a drop in demand as motorists are tightening their belts and cutting on spending. According to analysts, these signs indicate a slowdown in the world's leading economy that could soon go down to recession.

The demand for distillates including diesel, which is used to power the trucks and trains that deliver goods around the country, ...

Manufacturing giant 3M announces mass layoffs in preparation for a recession

https://www.naturalnews.com/2023-04-26-3m-mass-layoffs-in-preparation-recession.html

April 26, 2023 -

According to 3M, this round of layoffs will help streamline corporate operations, simplify the company's supply chain and reduce management layers. A spokesperson for 3M claimed this is supposed to make the company "stronger, leaner and more focused."

This also comes on top of the 2,500 manufacturing jobs 3M laid off in January, and the several mass layoffs the conglomerate announced in 2019 and 2020. (Related: Recession fears surge as new job creation slows down, jobless ...

Mannarino chides Federal Reserve for DOWNPLAYING financial collapse as “mild recession”

https://www.naturalnews.com/2023-04-25-mannarino-chides-fed-downplaying-collapse-mild-recession.html

April 25, 2023 -

"A mild recession? Meanwhile, we just got news … that the economy is actually slowing down faster than they believed it would; with employment growth slowing faster than they thought it would really do," he said.

Mannarino referenced the April 2023 edition of the Fed's Beige Book, which contained the "mild recession" remarks. The report, which is published eight times a year, has anecdotal information on current economic conditions. He also cited the minutes of the Fed's ...

Recession fears surge as new job creation slows down, jobless claims rise

https://www.naturalnews.com/2023-04-07-recession-fears-surge-as-jobless-claims-rise.html

April 07, 2023 -

According to the Department of Labor's report, job openings slipped to 9.9 million in February, the lowest since May 2021. This is also down from a revised 10.6 million new jobs created in the prior month.

Economic analysts note that they expected job creation to slow down drastically this year after 2021 became the best year for job creation on record and 2022 saw the Federal Reserve continuously raise its benchmark interest rate in a bid to corral inflation. This has ...

Australia’s Big 4 consulting firms laying off HUNDREDS of workers amid recession forecasts

https://www.naturalnews.com/2023-12-04-big-4-australia-laying-off-workers-recession.html

December 04, 2023 -

Professional services firm EY made 232 employees redundant early in November; PwC laid off 338 workers, a decision that was the result of longtime client Westpac's announcement that it would not renew its auditing contract with the firm; in October, KPMG let go of 100 employees; and KPMG shed 200 jobs following a slowdown early in February.

EY Australia CEO and Regional Managing Partner David Larocca discussed several challenges his firm is currently facing, many of ...

Bond investors warn: Brace for INEVITABLE RECESSION caused by Fed’s continued RATE HIKES

https://www.naturalnews.com/2023-06-16-bond-managers-prepare-recession-continued-rate-hikes.html

June 16, 2023 -

The investors' warnings contrasted with the Biden administration's narrative of U.S. stocks returning to a bull market, the economy outperforming expectations and the threat of an economic collapse being mitigated. Sticking to their pessimistic forecasts, they advised against hedging any bets on risk assets.

Steve Ellis, global fixed-income chief investment officer at Fidelity International, remarked he is most concerned about "something akin to a credit crunch." A report ...

Germany falls into RECESSION amid high energy prices and drop in consumer spending

https://www.naturalnews.com/2023-06-02-germany-recession-high-energy-prices-reduced-spending.html

June 02, 2023 -

During the first quarter of the year, the company’s GDP dropped by 0.3 percent, following a contraction of 0.5 percent during the last quarter of 2022. This meant Germany met the definition of a recession, which is two successive quarters of economic contraction.

The economic downturn in Germany saw household final consumption expenditure drop 1.2 percent during the first quarter of the year, and higher energy prices are one of the main driving factors. Although energy ...

Trifecta of inflation, recession, and banking insolvency leading to a ‘doom loop’: Economist

https://www.naturalnews.com/2023-04-06-trifecta-of-inflation-recession-banking-insolvency.html

April 06, 2023 -

(Article by Naveen Athrappully republished from TheEpochTimes.com)

“Unable to fight inflation and provide liquidity support simultaneously, the only solution is a severe recession—and thus a broader debt crisis,” said Roubini in his March 30 commentary, “The Coming Doom Loop.” The impending banking crisis can be attributed to the “current regulatory regime” that allows “banks to value securities and loans at their face value rather than their true market value.

"In ...

RBNZ’s rate hikes destroying New Zealand’s economy – supposed solution to INFLATION leads to RECESSION

https://www.naturalnews.com/2023-06-20-rbnz-rate-hikes-destroying-nz-economy-recession.html

June 20, 2023 -

The country's gross domestic product contracted by 0.1 percent in the first quarter, according to data from Statistics New Zealand, as rising interest rates continued to weigh on the economy.

It was the second-consecutive quarterly contraction, placing the country in a technical recession.

Weakness in the economy was "broad-based" with output from half of the country’s industries contracting, according to the Statistics New Zealand data. Growth was hurt by the impact ...

Calm before the storm: Financial experts warn current market calm is a sign of impending recession

https://www.naturalnews.com/2023-06-13-financial-experts-market-calm-impending-recession.html

June 13, 2023 -

JPMorgan Asset Management Global Head of Fixed Income Bob Michele said that today’s economic climate calls to mind the lull seen in the 2008 financial crisis. Michele, who manages more than $700 billion worth of assets for JPMorgan, thinks the current climate is deceptive.

In an interview, he said: “This does remind me an awful lot of that March-to-June period in 2008.”

In other words, the coming months could well prove to be the calm before the storm.

In ...

Top economist warns the next recession will be as if “the whole country takes a pay cut”

https://www.naturalnews.com/2023-05-04-next-recession-whole-country-takes-pay-cut.html

May 04, 2023 -

(Article by Mac Slavo republished from SHTFPlan.com)

“The leading indicators are telling me that the recession is actually starting this quarter,” he said in a recent YouTube interview with Blockworks Macro. “If it’s not this quarter I think it’s next quarter. It’s certainly not a 2024 story.”

With rampant inflation, most Americans are struggling with wages that are not keeping up with the rising cost of living. Should a recession materialize, it could result in greater ...

Corporate America reports biggest slump in profits in years, a sign that recession may just be months away

https://www.naturalnews.com/2023-05-16-corporate-america-biggest-slump-profits-recession-coming.html

May 16, 2023 -

Most, if not all, major companies on Wall Street have already released their first-quarter earnings reports, with the profits of S&P 500 companies estimated to have dropped by 3.7 percent on average. (Related: Survey: 75% of people in Joe Biden's America believe the country's economy is GETTING WORSE.)

Based on data collected by Bloomberg Intelligence, 78 percent of American firms that released first-quarter earnings reports surpassed their forecasts. While this initially ...

Renowned economist Nouriel Roubini: Trifecta of inflation, recession and banking system collapse driving America into a DOOM LOOP

https://www.naturalnews.com/2023-04-07-trifecta-inflation-recession-banking-collapse-doom-loop.html

April 07, 2023 -

Nouriel Roubini, an erstwhile economic advisor to the Clinton administration, outlined his findings in a March 30 commentary titled "The Coming Doom Loop." His piece published on Project Syndicate noted that to solve the decade-high inflation and provide liquidity support, "the only solution is a severe recession – and thus a broader debt crisis."

"A severe recession is the only thing that can temper price and wage inflation, but it will make the debt crisis more severe, ...


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