The great economic pretending is predicated on denying that major western economies are shrinking because political leaders are collectively destroying cheap and reliable energy production (oil, coal, gas), while simultaneously chasing expensive and [un]sustainable energy development (wind, solar).
The Build Back Better / Green New Deal climate change agenda is destroying every economy based on ‘collectively agreed‘ energy policy. Energy driven supply side inflation is crushing consumers in every western economy. Sales and purchases of goods have stopped. Affording food, fuel and housing is the focus of billions. Yet, denial is everywhere.
It was not that long ago, June 23rd to be precise, when Fedex gave a forward-looking forecast based on existing operational results. In late June Fedex anticipated a generally stable continuation of business operations. Here we are, three months later and Fedex business collapsed in the last quarter. CEO Raj Subramaniam says shipping demand unexpectedly plummeted. The great economic pretending meets reality.
Keep in mind, about six weeks ago Maersk, the international shipping company that delivers millions of containers of goods all around the world, mostly by ship, said they saw demand and orders plummeting as shipping warehouses were full of unsold goods {link, Aug 3rd}.
[The Fedex Collapse] – […] The company scrapped its forecast for its earnings in its current fiscal year that it had issued less than three months ago. For the three months ended Aug. 31, FedEx now projects adjusted earnings per share of $3.44 and $23.2 billion in revenue. That’s below analysts’ consensus forecast of $5.14 adjusted earnings per share and $23.6 billion in revenue, according to FactSet. (more)
The company is also revising its 2023 financial outlook and said it expects conditions to worsen further in its second quarter. Economists have sparred for months over whether or not the US is heading into a recession. (more)
“Don’t piss down my back and tell me it’s raining” Josey Wales (Clint Eastwood)
oh they aren’t. they are saying “yep we’re peeing on you right now, tough ***”
Great movie. But John Vernon was the actor with that awesome line. you are also correct sir. They are pissing down our backs thinking that we are to obtuse to figure it out
Yep.
Oh, we have figured it out. We are just too Cowardly to defy them.
Civilized. And they are counting on that to conquer and rule us
The puppet masters controlling Biden are working furiously to conceal the truth about the true state of the U.S. economy. They keep bragging about how low unemployment is because high unemployment coupled with the paralyzed economy we are experiencing indicate we are sinking into a depression. All the gaslighting by the Biden administration regarding the recession is unmitigated deception to keep the populous from realizing we are racing into a major depression. While the politicians, fake news media, federal reserve, and academia argue about whether we are in recession, the U.S.A. moves deeper into a full blown depression. None of these people represent You or I and none of them are working in our best interest.
Of course not. The powers that be, want most of us dead and barring that, dependent on them for our daily cricket rations and hovels.
They aim to have the survivors groveling to them for their “liberal” (regressive) beneficence.
They are hoping we stay fat and happy until its too late to revolt. So far their plan is working perfectly.
I did a lot of ordering in July. I don’t anticipate doing more than one delivery order the rest of this year and I might do it as a local store pickup. I’m battening down the hatches and I’m not the only one.
Not only do we need to batten down the hatches but better build up the perimeter defense.
When the neighbors who have very little learn where those who live that have a lot are they will come for it.
Prepare for this also.
“…heading into a recession”. Talk about the great pretending.
Oh lookie at who is giving a speech!
https://t.me/linwoodspeakstruth/17843
What a rogue’s gallery of RINO”S!!!!
It could get a LOT worse in November if the ground carriers with whom FedEx has contracts decide they can no longer afford to deliver, just in time Christmas.
https://www.freightwaves.com/news/lead-fedex-ground-contractor-says-he-may-shut-his-business-by-nov-25
https://landline.media/fedex-ground-faces-off-with-its-contractors/
FedEx then terminated its contract with Patton and is suing him. It’s going to get ugly, methinks.
https://www.supplychaindive.com/news/ousted-fedex-ground-contractor-spencer-patton-vote-no-confidence-ceo-john-smith/631198/
I would imagine that there will not be a lot of Christmas presents being shipped around the country. It is cheaper to mail a gift card.
Who’s going to deliver the presents people buy with gift cards?
“Plausible deniability” in full force.
The only thing propping up this Marxist globalist administration is lies, propaganda and their media partners gaslighting the people. The FED kept interest rates low to keep Wall Street and pension funds happy along with keeping debt on T-bills low and other government obligations. This policy has now backfired. Woke corporate CEOs are looking at balance sheets with ginormous fixed costs including transportation, fuel energy. They can’t hide this with lies and propaganda. They have an obligation to to the BOD and stockholders. Now the stock market is set up to burst. All because of the government policies.
Correct your last sentence.. All because its part of our fraud installed communist governments Plan.
In addition to the media partners, you forgot to mention the corrupt intelligence community, most of the education community, the celebrities (supposed role models), most of the people that run the internet, and half of the country that is too stupid to figure out what’s going on.
A Nation Too spirituality weak to do anything about it.
More fun complaining online or going to football games where they can channel their inner macho.
Has been in the works for decades and those we entrusted to protect the Constitution and our Nation failed.
And the people just keep taking it up the a** rather than doing anything to fight back.
https://theamericanreport.org/2020/06/16/sacred-communist-ground-baby-barack-obama-lived-at-the-gateway-to-seattles-chaz-with-mother-stanley-ann-dunham-on-avenue-now-patrolled-by-armed-marxist-revolutionary-guards/
The creepy Indian born CEO is becoming de rigeur in corporate America. Do we not produce enough capable candidates?
Of course we do! Its just not hip to hire a more than capable white person. Optics.
Recession, depression… I don’t know, we can throw the terms around and argue what we are in or headed for but to me it seems whatever we are in our entering is something “different”, and not good.
Isn’t it interesting, that the socialist in Europe are frightened of blow back from the masses, while in the US, the current regime Laffs about the misery.
The knee jerk reactions in Berlin are in response to the smoldering fires underneath the straw. There is a storm brewing.
Unless the storm includes removing and jailing those in power it’s just a hiccup.
“CEO Raj Subramaniam says shipping demand unexpectedly plummeted.”
Clearly the Ukrainians and Russians are just too preoccupied to Fedex more packages.
“Energy driven supply side inflation is crushing consumers in every western economy. Sales and purchases of goods have stopped. Affording food, fuel and housing is the focus of billions.”
Yet the devastating fact of US culture remains : in a Presidential election held tomorrow Biden/Kamala get 45% of the vote…minimum.
Control of the media and propaganda are powerful tools to control peoples’ minds.
I am generally good at reading the tea leaves for early signs of things changing.
several months ago I ordered a mini-split Heat pump AC to install at my house. Upon ordering the message said would be shipped in 3-4 days and FEDX delivery expected 3-4 days after that . Coming freight ground.
–> Rules of the game. No merchant can charge you for an item UNTIL it SHIPS. So the faster they ship the sooner they get paid. Same for Fedex. They do not get paid until delivered.
Mini-split example. I order Wed night from Atlanta Georgia. I live in Milwaukee, WI. It was shipped early Thursday (sales get paid). Fedex ground ship delivered to my door freight by Noon Saturday. Fedx Paid. Cash Quickly needed and sales and shipping volumes are down from a year ago. So my item was processed very quickly.
So Sat afternoon I started installing my mini-split heat pump and by Monday noon I was all done and tested. So I was relaxing and all done before I expected the item to ship.
This has been happening a lot to me on a number of ordered items in the last 3 months. My orders have been shipped from the sales point faster than usual and delivered quicker than usual.
So if you carefully monitor things and trends you can tell reality before the Fedex CEO announces to the whole world – economies are slowing.
PS. With natgas prices up a lot. The Heat pumps will be more cost effective at heating my house in the range of 20deg-60 deg (Sep-early Dec here and early March to early June). About 50% less costly than my radiant heat natgas boiler which is not very efficient in mildly cool temps as they cool down too much between cycles. I have installed three 12K BTU very effecient Heat Pumps – (1) living room, (2) dining, kitchen, TV room, (3) Bedrooms.
Smart stuff here. Well done.
Aren’t you missing the fact that the Banks are bankrupt? The fiat money system is broke so the economy needs to be slowed down. They can’t get a war started. The vaccine didn’t work there are still too many people. They have to have a crypto currency so they can control everything. Please look into the banking situation. Especially Europe and the 5 big banks in the US. Look into some Catherine Austin Fitts interviews. Oh, and please do not tell me the $ is strong. It is compared to weak currencies. We can and do print all the money we want.
They only missed the revenue target by less than 2% which is not a big miss at all. Money flowing in was almost on target. The big news was the company’s forecast for earnings which will miss the target by over 30% which explains a 20% hit to share price. Bloated operating expenses were blamed. As such, it says more about internal management of expenses than the impact felt by a slowing economy although their future forecast had much to do with the drop in share price also.
Economists have sparred for months over whether or not the US is heading into a recession.
Really? These are the same economists that were surprised by last week’s inflation data. Those of us in the real world were not at all surprised. And to you economists out there, get your heads out of your asses and realize we’ve BEEN IN A RECESSION for quite some time.
Sorry but the “people” have done nothing to fix their demise.
I’ve stopped caring about a Nation of people who are too ….fill in the blank.