Roku cutting jobs to adjust to Economic Conditions

Roku Logo

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Roku to cut 200 jobs, citing Challenged Economy
  • Roku is the latest technology and media player to slash jobs, revealing in a securities filing Thursday that it plans to reduce its workforce by about 5 percent, or about 200 jobs.
  • The company said the plan, which was approved Thursday, was meant to “slow down the company’s 2023 operating expense growth rate due to current economic conditions.”

Read the original article by clicking here.

Investors moving to Cash Funds at the fastest pace since the Pandemic

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • B of A Says Rush to Cash Is Now at Fastest Pace Since Pandemic
  • Cash is king, with investors fleeing to the safety of cash funds at the fastest pace since the coronavirus pandemic as the Federal Reserve remains firmly hawkish, according to strategists at Bank of America Corp.
  • Fed Chair Jerome Powell indicated this week that he’s prepared to push interest rates as high as needed to stamp out inflation, even as the central bank eyes a downshift to a slower pace of increases.
  • Among other upcoming catalysts, Americans head to the polls on Tuesday for midterm elections to decide control of both chambers of Congress, the governorship in 36 states, and countless other local races and ballot initiatives.
  • A Republican win would mean tighter monetary policy and further yield curve inversion, Hartnett said. A Democrat win would translate into looser fiscal policy and a steeper yield curve, he said.

Read the original article by clicking here.

Secretary of the Treasury says no sign of Recession in US economy despite ridiculous inflation

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Really, Janet? Treasury secretary Yellen says she sees NO signs of a recession in US economy – despite two previous periods of negative growth, falling stock and housing markets and soaring inflation
  • Treasury Secretary Janet Yellen said she does not believe a recession is looming despite two first-quarter declines to open 2022
  • Gross domestic product (GDP) fell 1.6 percent in the first quarter before falling an additional 0.6 percent the following quarter
  • Yellen: ‘Inflation is very high – it’s unacceptably high and Americans feel that every day’
  • GDP rose by 2.6 percent in the third quarter – though economists say they ‘don’t expect this growth to continue this year or early next’

Read the original article by clicking here.

5 weeks from Mid-term election and the Economy is on everyone’s mind

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • ‘A $5,000 Pay cut for Families’: 82% Worry About Inflation Heading into Midterm Elections
  • New polling suggests the economy is still the dominating issue for the midterm elections with just five weeks to go before the big day. Now both parties are trying to tailor their messaging during the home stretch.
  • A new Monmouth poll shows 82% of Americans ranking inflation as an “extremely or very important issue.” Crime, jobs, and immigration follow, with abortion coming in seventh on the list. Still, 56% of Americans ranked the abortion issue as an “extremely or very important issue.”
  • “The economic situation continues to deteriorate. We’ve had 8 consecutive quarters of real incomes declining for families in this country and that amounts to nearly a $5,000 pay cut for families,” said Joel Griffith with the Heritage Foundation.
  • A separate August report from Lending Club points out 60% of Americans are living paycheck to paycheck.

Read the original article by clicking here.

A large portion of Americans are skeptical of the future with 75% thinking we’re going the wrong way

Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Nearly 75% of Americans think the US is headed in the WRONG direction under Joe Biden and more than half worry country’s best years are in the past, NBC poll shows
  • A whopping 74% of Americans say the United States is on the wrong track in a new NBC News poll conducted earlier this month
  • It also found that more than half of the 1,000 respondents feel ‘worried that America’s best years may already be behind us’
  • Among the respondents’ main concerns was the economy, with 68 percent saying they think the country is already in a recession despite Biden’s claims
  • In total, the poll found, 55 percent of Americans disapprove of the job the president is doing while just 42 percent approve

Read the original article by clicking here.

Americans feeling pessimistic heading into elections

Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Public perception of the economy is the lowest since 2008: More Americans say they trust the GOP to handle issues that hit their pocket, new poll shows
  • A new poll shows nearly 7 in 10 Americans feel the economy is ‘getting worse’
  • Only 12% saying it is ‘getting better’ under Joe Biden’s leadership
  • In 2008, the same polling found 83% thought the economy was getting worse
  • Biden has a 37% overall approval on his handling of the economy – the lowest point in the polling since he took office last year
  • The only issues where Biden’s approval rating has changed is on gas prices, rising to 34 percent from 27 percent in June. Prices per gallon have dropped by a dollar on average from where they were earlier this summer when the poll was taken.

Read the original article by clicking here.

Leading Economic Indicators expect Recession by year’s end

Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • U.S. Leading Economic Indicators Point to Recession Around Year’s End
  • “The US LEI declined for a fourth consecutive month suggesting economic growth is likely to slow further in the near-term as recession risks grow,” said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board.
  • “Consumer pessimism about future business conditions, moderating labor market conditions, falling stock prices, and weaker manufacturing new orders drove the LEI’s decline in June. The coincident economic index which rose in June suggests the economy grew through the second quarter. However, the forward-looking LEI points to a US economic downturn ahead.”
  • A US recession around the end of this year and early next is now likely. Accordingly, we’ve downgraded our forecast of 2022 annual Real GDP growth to 1.7 percent year-over-year

Read the original article by clicking here.

New Record for Inflation breaking a 40 year high of 9.1%

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • US Inflation Reached a New 40-year High in June of 9.1%
  • Consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981, and up from an 8.6% jump in May. On a monthly basis, prices rose 1.3% from May to June, another substantial increase, after prices had jumped 1% from April to May.
  • In addition, shipping costs and commodity prices have begun to fall. Pay increases have slowed.
  • For now, the relentless spike in inflation has caused a steep drop in consumers’ confidence in the economy, sent President Joe Biden’s approval ratings tumbling, and posed a major political threat to Democrats in the November congressional elections.
  • Housing, in particular, has been seized by some of the highest inflation rates in the economy, causing hardships for many.
  • The national median home price jumped 14.8% in May from a year earlier to $407,600.

Read the original article by clicking here.

Survey shows 41% of Americans are looking for more hours or side jobs to make ends meet

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • ‘Everyone Is Struggling:’ As Inflation Soars, 41 Percent Need Side Jobs to Help Pay for Monthly Expenses
  • Before prices at the pump and supermarkets started taking off, economists noticed a growing number of Americans putting money toward credit card debt or building their savings.
  • Now, according to a new survey by Bankrate, 41 percent of Americans need a side income just to help pay for monthly expenses from housing to utilities to food.
  • According to Bankrate, inflation is driving more than a third of Americans to increase working hours due to rising prices.
  • 23-year-old Shaina Bourne felt the need to drop out of college due to her tight budget.
  • After becoming a full-time nanny, Shaina soon realized she would need more money to make ends meet. That forced her to turn a hobby into a second job.
  • As the cost of living continued to go up, Shaina then picked up a third job. “The extra money is going towards my immediate bills,” she said. “I’ve gone through my finances over and over and over and it’s like there’s a little extra needed in each place. Whether it is gas or groceries, even rent has actually taken an uptick in the last few months.”

Read the original article by clicking here.

WEF: To save Democracy gas prices need to be higher. Compliance must be enforced

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • World Economic Forum: Gas Prices Must Go Even Higher — to Save Democracy
  • Russia’s invasion of Ukraine has brought renewed focus on this economic weakness, the WEF says.
  • What is the answer for the U.S. and Europe? Pricing the alternatives to green energy out of the market. It says:
    • First, leading democracies should agree to end the underpricing of fossil fuels, which is the principal factor preventing a clean energy transition. The underpricing associated with producing and burning coal, oil and gas amounted to $5.9 trillion in economic costs in 2020. Nearly a quarter of these losses – $1.45 trillion – occurred in 48 major and smaller democracies.
    • The leading democracies of the G20 should collectively commit to phasing out cost and tax breaks for the production and consumption of fossil fuels. They should also phase in more efficient pricing of fossil fuels through taxes or tradable permits to cover the costs of local air pollution, global warming, and other economic damages.
  • The paper goes on to argue that compliance can and must be enforced.

Read the original article by clicking here.