Analyst Greg Mannarino says that the United States is in an epic 150-year job crisis. “They are admitting that we are losing jobs,” he said, quoting Reuters. We have all felt the sting of inflation lately, and Mannarino says this is only the beginning.
The Labor Department’s September jobs report, released on Thursday after being delayed by the government shutdown, is unlikely to tip the scales in one direction.
Small businesses are shedding jobs. “They are dying,” Mannarino said. The Federal Reserve is also likely to cut interest rates as the job market flails. The Fed is also said to be “divided” on the issue of rate cuts, according to a report by Fortune.
“That’s still only four ayes in favor of a cut and six nays against but, to the extent that Williams and Fed Chair Jerome Powell often hold the same view (and Governor Lisa Cook usually votes with Powell), we could have a six-six tie,” Capital Economics said.
“Then things would get really messy since it’s not clear that Powell has a casting vote, so the vote to change policy might simply fail to be carried.” –Fortune
Mannarino also claims that the Wall Street banks are “running out of cash” as the whole system is illiquid. This problem will be taken out of the backs of the American people, once again. What banks fear the most is you, he said. They fear the people figuring out the scam we’ve all been forced to live under, which is the monetary system set up by the establishment rulers.
Whether we see a rate cut or not, be prepared financially. The unemployment rate is the highest it’s been since 2021, and we all know how much more expensive utilities, groceries, and housing have gotten. It is out of the realm of possibility for most people to purchase a house right now, and rent costs are sky-high. The average cost to rent a two-bedroom apartment in the U.S. right now is $1800. The costs are still high, coupled with interest rates that are hovering around 6%, and the housing crisis is only getting worse.
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