U.S. Economy and its Mess

[rareboy]

And calls for Germany to move its gold out of the US.

Also likely a smart move. Because at some point, if there was a NATO response...the US would freeze the European assets.

‘Repatriate the gold’: German economists advise withdrawal from US vaults

Shift in relations and unpredictability of Donald Trump make it ‘risky to store so much gold in the US’, say experts

www.theguardian.com

 

[KaraBulut]

Amazon has $45 million to blow on a suckup documentary on the Slovakian immigrant first lady but they don't have money to keep their employees.

This cut is in addition to the cuts announced in 2025.

Amazon is getting rid of people and replacing them with AI. It's already difficult to interact with a human when dealing with Amazon.

Amazon cuts about 16,000 corporate jobs in the latest round of layoffs

Amazon is cutting about 16,000 jobs in the latest round of tech industry layoffs. Beth Galetti, a senior vice president, announced this Wednesday in a blog post.

apnews.com

Amazon cuts about 16,000 corporate jobs in the latest round of layoffs

Amazon is slashing about 16,000 corporate jobs in the second round of mass layoffs for the ecommerce company in three months.

The tech giant has said it plans to use generative artificial intelligence to replace corporate workers. It has also been reducing a workforce that swelled during the pandemic.

Beth Galetti, a senior vice president at Amazon, said in a blog post Wednesday that the company has been “reducing layers, increasing ownership, and removing bureaucracy.”

The company did not say what business units would be impacted, or where the job cuts would occur.

 

[rareboy]

 

[rareboy]

 

[KaraBulut]

Trump's record economy:

https://www.washingtonpost.com/business/2025/12/27/corporate-bankruptcies-economy/

Corporate bankruptcies surged in 2025, rivaling levels not seen since the immediate aftermath of the Great Recession, as import-dependent businesses absorbed the highest tariffs in decades.

At least 717 companies filed for bankruptcy through November, according to data from S&P Global Market Intelligence. That’s roughly 14 percent more than the same 11 months of 2024, and the highest tally since 2010.
Most Read

More than 700 US companies went bankrupt in 2025 — a 14% jump from last year

The surge in bankruptcies is being driven by a toxic mix of stubborn cost pressures, tight credit and President Trump’s aggressive trade policies.

nypost.com

More than 700 US companies went bankrupt in 2025 — a 14% jump from last year

Corporate bankruptcies are reaching levels not seen since the Great Recession — with inflation, high interest rates and punishing tariffs pushing hundreds of companies over the edge in 2025, according to a new report.

At least 717 US companies filed for bankruptcy through November, according to S&P Global Market Intelligence, a 14% jump from the same period last year and the highest total since 2010.

Among large-scale companies that went belly-up this past year were pharmacy chain Rite Aid, the genetics testing firm 23andMe, fast-casual dining spot Hooters and no-frills carrier Spirit Airlines.

 

[rareboy]

Isn't that Trumpenomics?

Go bankrupt. Screw your creditors and shareholders?

 

[rareboy]

 

[Kulindahr]

 

[Kulindahr]

 

[KaraBulut]

The Trump economic team was out today talking about the strong economy and blaming Joe Biden.



Oil futures shot up 35%.

Oil surges 35% this week for biggest gain in futures trading history dating back to 1983

The oil market is worried that Gulf countries will have to shut production if tankers are unable to pass through the Strait of Hormuz.

www.cnbc.com

Oil surges 35% this week for biggest gain in futures trading history dating back to 1983

• Oil prices surged after President Donald Trump demanded unconditional surrender from Iran.
• Qatar’s energy minister, Saad al-Kaabi, told The Financial Times that Gulf exporters would halt production in days if tankers cannot pass the Strait of Hormuz.
• This could spike oil prices to $150 a barrel in the coming weeks and “bring down the economies of the world,” Kaabi said.

The jobs report showed a loss of 92,000 jobs in February. Don't be surprised if they revise this number to show a bigger loss.

Analysis: Tough jobs report puts Trump's Iran war plans to the test

The economy is showing signs of slowing as the Iran war quickly pushes up gas prices.

www.cnbc.com

Analysis: Tough jobs report puts Trump’s Iran war plans to the test

• The jobs report released Friday showed a loss of 92,000 jobs in February. Unemployment rose to 4.4%.
• Those tough figures come as Americans are digesting gas prices that have jumped nearly 23 cents in a week because of the war in Iran.
• President Donald Trump will be under pressure to pivot on the war and other policies that may be weakening the economy, but he has shown little sign of bending so far.

One winner this week was Palantir, as rumors spread that the military is using Palantir AI technology for weapon targeting in South America, Central America and now in Iran.

Palantir rallies 15% for the week as Iran war boosts prospects, muting Anthropic concern

Palantir's stock had its best week since August and outperformed all of its large-cap tech peers after the U.S. attacked Iran.

www.cnbc.com

• Palantir’s stock had its best week since August, outperforming all of its large-cap tech peers, after the U.S. attacked Iran.
• Analysts view Palantir as a beneficiary of the war due to the amount of business the software and services vendor has with the U.S. military and intelligence agencies.
• Investors largely brushed off concerns that Palantir may have to rely on a different artificial intelligence company after Anthropic was blacklisted by the government.

 

[rareboy]

And as usual, the oil companies immediately started gouging, because that is all part of the game.

Eventually the job losses are going to seriously start shoowing up in consumption of goods. And then the recession on Main Street will start to trigger the crash on Wall Street.

 

[rareboy]

It is all intersectional now.

 

[KaraBulut]

More winning.

https://www.cnn.com/2026/03/12/economy/us-mortgage-rates

Mortgage rates climb to 6.11% as Iran war roils markets

US mortgage rates climbed this week as investors fret the economic impact of President Donald Trump’s war on Iran, undoing some of the welcomed progress in housing affordability.

The average rate of a standard, 30-year fixed mortgage was 6.11% in the week ending March 12, according to a survey of lenders by Freddie Mac released Thursday. That was biggest weekly increase since April, when Trump’s “Liberation Day” tariffs caused bond yields to spike.

Just two weeks ago, the average rate slipped below 6% for the first time since 2022, crossing a key psychological threshold that generally makes people feel more confident about buying a home.

The yield on the 10-year US Treasury note, which mortgage rates follow, has risen sharply since Trump and Israel launched attacks on Iran earlier this month, sending global energy prices skyrocketing and making it difficult for the Federal Reserve to deliver rate cuts anytime soon. On Thursday, the 10-year yield rose to 4.25%, its highest level since early February.

 

[KaraBulut]

Just a reminder: two weeks ago, during the State of the Union address one of the few economic improvements that Trump could find to brag about was the price of gas.

Two weeks later...




And remember that just 3 weeks ago, Blondi was talking about "The Dow! The Dow! Is over 50 thou!".

Today: