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Click On Picture To See Larger PictureThe automobile manufactures are now giving up on all EV production, they realize that this will bankrupt them. No demand equals no sales. Unemployment numbers are on the rise, job openings are shrinking, we have been in a recession and it's getting worse. Trump says if [KH] gets elected we will be a depression. Trump is going reverse everything the [CB]/[DS] has done. The [DS] is now shutting down platforms, arresting those who own platforms, going after influencers that are on the platforms they control. Prepare for a communication blackout. The DOJ/FBI is now prepping the election narrative, when we cheat and decide not certify the election those who speak up will be thrown in prison. Trump warns the [DS], they are trying to throw him prison, he says that two can play the game.

 

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Economy

Volvo gives up plan to sell only EVs by 2030 

Car company Volvo has abandoned its target to produce only fully electric cars by 2030, saying it now expects to be selling some hybrid vehicles by that date.

The carmaker blamed changing market conditions for its decision to give up a target it had announced only three years ago.

It comes as the industry faces a slowdown in demand in some major markets for electric vehicles (EVs) and uncertainty due to the imposition of trade tariffs on EVs made in China.

Volvo, which has traditionally flaunted its environmental credentials, joins other major carmakers General Motors and Ford in rowing back on EV ambitions.

Volvo now expects at least 90% of its output to be made up of both electric cars and plug-in hybrids by 2030.

Source: bbc.com

ADP Employment Report Weakest Since Jan 2021

Ahead of tomorrow's "most important data point in history" payrolls print, this morning we get the ADP employment report and jobless claims (and ISM Services) as an aperitif to tease the day traders and test the reaction functions of the algos.

Against expectations of adding 145k jobs (a slight improvement over July's 122k), ADP's Employment report printed a dismal +99k for August - the weakest print since January 2021 (and July's +122k was revised down to +111k)...

Source: Bloomberg

That is also the fifth straight monthly decline in the ADP employment report's jobs additions.

 

Source: zerohedge.com

https://twitter.com/KobeissiLetter/status/1831668103018635284

https://twitter.com/WallStreetSilv/status/1831679612599898516

 

https://twitter.com/KobeissiLetter/status/1831419177317630026

  GDI has been a leading indicator of final GDP data revisions and the unemployment rate, primarily near the end of economic cycles. Currently, GDI suggests that the real GDP could be overstated by a whopping ~$600 billion or 3%. However, by the time revisions are made, attention from the current GDP numbers has shifted. Downward data revisions are the new normal

https://twitter.com/KobeissiLetter/status/1831395064125210972

 has pulled back due to a record high levels of debt and elevated prices. Meanwhile, visits to top Airlines, Cruise Lines, and Accommodation brands' websites is down ~5% YoY. Travel demand is slowing.

 

Trump Predicts ‘1929-Style Depression’ if Kamala Wins 

Wednesday, during a town hall event that aired on FNC’s “Hannity,” former President Donald Trump, the Republican nominee for president, warned viewers about a repeat of the 1929 Great Depression if Vice President Kamala Harris, his Democrat opponent, wins.

Partial transcript as follows: