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August 17, 2022

Recessions and depressions

The world’s largest sovereign wealth fund loses $174 billion in the first half, cites inflation and war in Europe

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CNBC – For more and to sign up click here Norway’s central bank, also known as Norges Bank, in Oslo, Norway. Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s sovereign wealth fund, the largest in the world, had a loss of 1.68 trillion Norwegian kroner ($174 billion) in the first......

‘Dangerous territory’: Investor Peter Boockvar warns recession is spreading to other parts of economy

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CNBC – For more and to sign up click here There may be no escape from recession. The latest reports on housing and manufacturing, according to investor Peter Boockvar, suggest it’s rapidly spreading to other parts of the economy. “People are not being sensitive enough to this economic slowdown and......

Everything from wages to used car prices could jump higher, market researcher Jim Bianco warns

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CNBC – For more and to sign up click here Washington’s efforts to curb inflation will fall short particularly this year, according to market forecaster Jim Bianco. And, he believes this week’s key inflation data will help prove it. “I don’t see anything that will reduce the inflation rate. There......

Americans are anxious about a recession as inflation cuts into their spending power

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CNBC – For more and to sign up click here A customer shops in a Kroger grocery store on July 15, 2022 in Houston. Brandon Bell | Getty Images As experts debate whether the U.S. is on the brink of an economic downturn, many Americans are already bracing themselves for......

The economy may look like it’s in recession, but we still don’t know for sure

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CNBC – For more and to sign up click here In an aerial view, shipping containers sit idle at the Port of Oakland on July 21, 2022 in Oakland, California. Truckers protesting California labor law Assembly Bill 5 (AB5) have shut down operations at the Port of Oakland after blocking......

When a recession hits, how Main Street businesses can conserve cash, cut spending

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CNBC – For more and to sign up click here Damircudic | E+ | Getty Images With recessionary winds whirling, many small business owners have already cut back, but more trimming may be needed to weather the economic storm that’s brewing. U.S. economic growth fell 0.9% in the second quarter,......

GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal

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CNBC – For more and to sign up click here The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday. Pressured by surging inflation, rising interest rates and intensifying supply......

Market jump after Fed rate hike is a ‘trap,’ Morgan Stanley’s Mike Wilson warns investors

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CNBC – For more and to sign up click here Morgan Stanley is urging investors to resist putting their money to work in stocks despite the market’s post-Fed-decision jump. Mike Wilson, the firm’s chief U.S. equity strategist and chief investment officer, said he believes Wall Street’s excitement over the idea......

Top Federal Reserve officials say they misread inflation and now plan to correct the course

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Top officials at the Federal Reserve were seeing inflation data come in very hot for months before policymakers moved to wind down monetary policies that were stimulating the economy. A chorus of analysts, economists and former policymakers have chimed in, saying that was a mistake. “The forward guidance, overall, slowed......

Here’s how to prepare for and thrive in a recession

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CNBC – For more and to sign up click here A recession is defined as a significant economic decline that lasts more than a few months. While experts are debating whether we’re in a recession now, or if one is coming and when it will arrive, the question is: Are you prepared......

Here’s how you can recession-proof your career, according to one CEO

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CNBC – For more and to sign up click here 1. Diversify revenue streams Don’t rely on just one way of making money — that’s the “best anti-crisis strategy,” according to Volodarsky. “Ideally, look for gigs in different verticals, geographies, and skill sets to diversify your income portfolio and minimize......

75% of middle-class households say their income is falling behind the cost of living

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CNBC – For more and to sign up click here Images By Tang Ming Tung | Stone | Getty Images The reality of inflation and the specter of a recession appear to be weighing heavily on middle-class households. Among those whose income falls in the $30,000-to-$100,000 range, 75% say their......

Stock futures slip after Wednesday’s session as Wall Street awaits bank earnings

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CNBC – For more and to sign up click here A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, July 13, 2022. Brendan McDermid | Reuters Stock futures slipped Wednesday night as traders look ahead to earnings from major U.S. banks. Dow......

65% of Americans earning $100,000 or more are ‘very concerned’ about inflation, new CNBC poll finds

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CNBC – For more and to sign up click here A customer shops for meat at a Target store on June 08, 2022 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Inflation is a real worry for many Americans — even those who earn six......

This type of ETF is seeing near-record inflows — but will it keep paying dividends?

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CNBC – For more and to sign up click here It’s a type of ETF seeing near-record inflows. New data shows dividend exchange-traded funds totaled almost $50 billion in fresh money in the first half of 2022, according to Todd Rosenbluth of VettaF, a financial services company. “We recently did......

Big payroll gains push recession fears into the corner — for now

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CNBC – For more and to sign up click here A worker wearing a protective mask slices beef in the butcher section of a Stew Leonard’s supermarket in Paramus, New Jersey, on Tuesday, May 12, 2020. Angus Mordant | Bloomberg | Getty Images June’s big payroll jump helped clear away......

Goldman slashes GDP forecast for the second quarter to just barely above water

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CNBC – For more and to sign up click here A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010. Daniel Acker | Bloomberg | Getty Images Amid heightened concerns that a recession is looming,......

Wrong time to get bullish: Top investor warns deflating tech ‘bubble’ far from over

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CNBC – For more and to sign up click here The recent tech rally may be doomed. Money manager Dan Suzuki of Richard Bernstein Advisors warns the market is far from bottoming — and it’s a concept investors fail to grasp, particularly when it comes to growth, technology and innovation......

74% of consumers are concerned about a recession: 5 steps you can take now to prepare

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CNBC – For more and to sign up click here Jamie Grill | Getty Images All the talk about a looming recession may have you worried about your finances. You aren’t alone: Some 74% of U.S. consumers are concerned about a recession, according to a new survey from Empower Retirement......

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