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Click On Picture To See Larger PictureThe economy is looking very similar to 2008, but there is one major difference, it is a lot worse.Construction is laying off, housing is declining. Layoffs are about to pickup. Bezos is dumping Amazon stock. Does he know something. Powell shoots for Sept rate cut. Patriots ready to take control of the economy. The [DS] is slowly building the narrative to remove Biden. [BO] is now positioning himself for the election. The process is slow, you must show the people and the people must demand a change of batter. The [DS] is now placing all the pieces together for WWIII. Trump has countermeasures standing by.

 

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Economy

https://twitter.com/KobeissiLetter/status/1810751968870019094

 Meanwhile, new home sales have officially dropped below pre-pandemic levels for the first time. It would take ~9 months current new inventory to sell if it sold at the current pace without new inventory coming to the market, 2nd longest duration since 2009. Is the housing run coming to an end?

https://twitter.com/KobeissiLetter/status/1811013184402108877

month, the largest increase since September 2023. Meanwhile, 1.858 million Americans are now receiving jobless benefits, the most since 2021. The US labor market is weaker than it seems.

Illinois Is A Drag On US Economy, Continues To Be A 'Taker' From Federal Govt; New Report Shows

 

A new report says Illinois, with the fifth largest state economy in the nation, is helping pull the country down.

It should come as no surprise, therefore, that other new reports continue to show that Illinois is a “net taker” in terms of its balance of payments with the federal government. Five years ago, Illinois gave up its long-held claim that it sends the federal government more than it gets in return, and that “net taker” status continues today.

The results are damning for Illinois by all four measures, with the state ranking from 45th to 47th on each among the states:

Real GDP: Since the fourth quarter of 2019, the United States has grown 8.6% post-COVID-19, but Illinois’ economy has grown only 2.8%, ranking 46th among the states.

Total nonfarm payroll: The U.S. and Illinois both lost jobs during the first two months of the pandemic. But since then, U.S. payrolls grew by 4.1%. Illinois, however, has barely surpassed its pre-COVID-19 level, with only 0.2% growth. That ranks Illinois 45th in the nation.

Unemployment rate: From March 2020 through May 2024, the U.S average unemployment rate was 5.1% but Illinois was 6.0%, ranking Illinois 45th in the nation. Illinois has consistently been about 0.8% to 0.9% above the U.S. average for the last decade. Currently, Illinois’ unemployment rate was 4.9% in May, which is 0.9% higher than the U.S. average of 4.0

 Personal Income: Illinois was one of the slowest-growing states regarding total income growth since the outbreak of COVID-19. Since the fourth quarter of 2019, Illinois’ total income grew by 22.0%, significantly below the U.S. increase of 27.2%, ranking 46th over this period.

Notably, Illinois did much worse than all of its neighboring states by each of those measures for those periods.

The only exception is that Wisconsin was 47th worst on GDP growth while Illinois was 46th. Full state-by-state comparisons are in the charts in the COGFA report.

source: zerohedge.com

https://twitter.com/Barchart/status/1810777940642185351

https://twitter.com/GRDecter/status/1811029498806120920

This could push stocks to new highs. Hold on to your hats, kids!