Author Topic: Global Recession?  (Read 12666 times)

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Offline Liar Loan

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Re: Global Recession?
« Reply #90 on: June 10, 2022, 10:23:32 AM »
U.S. consumer sentiment plunges to RECORD LOW in June, UMich survey

The University of Michigan’s gauge of consumer sentiment fell sharply to a record low reading of 50.2, down from a May reading of 58.4. Economists polled by the Wall Street Journal had expected an June reading of 59.

The level is comparable to the low point reached in the middle of the 1980 recession, U Mich said.


https://www.msn.com/en-us/money/markets/us-consumer-sentiment-plunges-to-record-low-in-june-umich-survey/

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Offline Liar Loan

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Re: Global Recession?
« Reply #91 on: June 13, 2022, 11:45:56 AM »
Consumer Sentiment is at the lowest ever recorded since they started collecting data in 1952
The prior low was at the end of the Carter presidency.


Offline morekaos

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Re: Global Recession?
« Reply #92 on: June 21, 2022, 02:03:50 PM »
China is collapsing and you would never know it.....

There’s a run on Chinese banks and it’s being ignored by the world

In the anatomy of an economic crisis, a bank run is the point of no return.

Bank runs occur when people scramble to withdraw cash from banks in fear of collapse. In the worst cases, banks’ liquid cash reserves are exhausted, not everyone gets their money and the bank defaults.

It’s a grim scenario which, fortunately, has occurred rarely in history.

The most significant bank runs in the United States took place during the 1930’s Great Depression. More recently, there were runs on numerous U.S. banks during the Financial Crisis in 2008.

In Asia, bank runs have also been rare. A run on Japanese banks in 1927 led to the collapse of dozens of institutions across the country. There was a banking crisis in Myanmar in 2003 which the country has never really fully recovered from.

But perhaps since the Great Depression, none has been as significant compared to what is seemingly unfolding in China right now.

https://www.asiamarkets.com/chinese-banks-run/

Offline morekaos

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Re: Global Recession?
« Reply #93 on: June 21, 2022, 02:09:11 PM »
So thats why they did that.... ;D ;D >:D

China’s bank run victims planned to protest. Then their Covid health codes turned red

Liu, a 39-year-old tech worker in Beijing, arrived in the central city of Zhengzhou on Sunday with all the boxes ticked to travel under China’s stringent Covid restrictions.

He had tested negative for Covid-19 the day before; his hotel had confirmed he could be checked in; and the health code on his phone app was green — meaning he had not been exposed to people or places deemed risks and was therefore free to travel.


But when Liu scanned a local QR code to exit the Zhengzhou train station, his health code came back red — a nightmare for any traveler in China, where freedom of movement is strictly dictated by a color-code system imposed by the government to control the spread of the virus.

Anyone with a red code — usually assigned to people infected with Covid or deemed by authorities to be at high risk of infection — immediately becomes persona non grata. They are banned from all public venues and transport, and are often subject to weeks of government quarantine.

https://kvia.com/news/2022/06/15/chinas-bank-run-victims-planned-to-protest-then-their-health-covid-codes-turned-red/

Offline Liar Loan

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Re: Global Recession?
« Reply #94 on: June 23, 2022, 01:14:06 PM »
The Atlanta Fed is forecasting 0% GDP growth in Q2, down from a high of 2.5% forecast last month.


Offline Liar Loan

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Re: Global Recession?
« Reply #95 on: July 01, 2022, 04:40:37 PM »
Well, the new estimate is -2.1% GDP growth, down from 0% when I posted a week ago.  Yikes!


 

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