by laflammaster
Are we in a recession but?
It ought to be fascinating to listen to what the US Gov has to say on Sept fifteenth. Maybe like that nasty inflation thingy, this too will probably be a “transitory” slip of the tongue based mostly on the brand new time period of “technical recession”.
Right here in Canada, we KNOW that we’re in a recession. Job numbers for August are a lack of 40,000 jobs whereas the rate of interest has gone up one other 75 BPS earlier this week. What we’re additionally now studying, in response to Credit score Card stats & Equifax, is that many individuals are actually utilizing their bank cards to purchase fundamental requirements to make it by means of one other month and that funds on these playing cards, for too many individuals, are 90 days overdue. Australia, NZ, the UK and far of Europe are additionally in the identical boat.
I’m fairly positive the US is about to affix our occasion. No nation is immuned to the upcoming world market turmoil pushed by low cost cash and the reckless stupity of successive Governments to rein within the felony monetary gamers who as soon as once more fucked us all down a path of no return.
