hanamlchl on Nostr: Wall Street Silver npub1dehav…sa7el 12:22 PM · Oct 9, 2023 State and local ...
Wall Street Silver npub1dehavkhxf5flp8wvqfxflc63q9kugt7x20ktk623grgex32fnrgshsa7el (npub1deh…a7el) 12:22 PM · Oct 9, 2023
State and local government current tax receipts are falling off a cliff. Back to 2019 levels and falling fast 🚨🚨🚨
Thus despite the “strong” non-farm payrolls report, the underlying well being of the American consumer and their ability to support over 70% of the economy has to be called into question.
The ultimate outcome will be a increase in defaults, be it on homes, auto loans, or credit cards unless inflation is tamed (unlikely) or economic growth surges with wages to offset the impact of stubbornly higher rates of inflation.
These are signs of an economy falling into recession, not recovering from a pandemic and continuing strong sustainable growth. The layoff data does not lie and it is beginning to indicate the same headwinds.
#memes #bidenadministration #recession #stoppayingtaxes
https://twitter.com/WallStreetSilv/status/1711462126995292394
https://cdn.minds.com/fs/v1/thumbnail/1558235809079889927/xlarge/
State and local government current tax receipts are falling off a cliff. Back to 2019 levels and falling fast 🚨🚨🚨
Thus despite the “strong” non-farm payrolls report, the underlying well being of the American consumer and their ability to support over 70% of the economy has to be called into question.
The ultimate outcome will be a increase in defaults, be it on homes, auto loans, or credit cards unless inflation is tamed (unlikely) or economic growth surges with wages to offset the impact of stubbornly higher rates of inflation.
These are signs of an economy falling into recession, not recovering from a pandemic and continuing strong sustainable growth. The layoff data does not lie and it is beginning to indicate the same headwinds.
#memes #bidenadministration #recession #stoppayingtaxes
https://twitter.com/WallStreetSilv/status/1711462126995292394
https://cdn.minds.com/fs/v1/thumbnail/1558235809079889927/xlarge/