Wednesday, July 3, 2024

Small businesses ain't hiring

Why higher rates don't work for America
 
   
     
Wednesday, July 3rd
 
"I hate all politics. I don't like either political party. One should not belong to them - one should be an individual, standing in the middle. Anyone that belongs to a party stops thinking."

— Ray Bradbury
---------- Markets Today ----------
 
🌏 Asia-Pacific: Down
🇪🇺 Europe: Up
🇺🇸 United States: Up
🛢️ Oil: Up
⚡ Crypto: Down

 
------- Major Market Events -------
 
Small businesses not hiring: This is usually a leading indicator of recession (link)
 
ISM numbers disappoint: The lowest non-manufacturing ecnomic numbers since the pandemic (link)
 
Jobless claims rise: Worrying numbers emerge (link)​​
🤔 My Thoughts 

Higher rates seem to be finally showing up in the economy. Higher unemployment, lower jobs, lower economic activity. In a normal world, these rates wouldn't actually be high. However, America is not a normal place. We have no "real" economy, or at least, very littel fo one. 

Our dollar is our biggest export. Our economy is less about making things, than about pringting things and speculating with those printed things. So, while higher rates might help right a normal economy, for the U.S., it seems to just be hollowing out whatever was left of our core. 
To Better Trading,

Alex Reid
Wealthpin
 
WealthPin
   
     
   
 

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