patrick.net

S&P 500 at 3853 and back below 20% of all time high of 4818

it bottomed around 25% below 4818 last October

I'm pissed but what can you do?
They gave trillions to the 57% who pay no income tax and they spent it.
The 43% who pay income tax sent it back with the 1040.
Inflation results from free money.

clambo says

I'm pissed but what can you do?

There is some good news Mister Clambo. The weekly jobs report today was better than expected. That means more people going back to work, hence to increase supply and productivity per worker.
.



.

https://www.cbs19news.com/story/42501205/barack-obama-reportedly-said-dont-underestimate-joes-ability-to-expletive-things-up

"Don't underestimate Joe's ability to fuck things up."

Besides the positive news from the weekly job report shown in the previous post, the Baltic Dry Index appears to have reached bottom and is recovering

The Baltic Dry Index is an indicator of the health of the economy
.



,

That’s good because shipping traffic has been catastrophically low.

Shaman says

That’s good because shipping traffic has been catastrophically low.

You mean less shit from China...

Pandemic created a lot for shortages, we know.
People were sitting home, produce nothing (or pretend they are doing) and get paid. Plus, negative fuel politics.
Result: inflation and high interest rate.
And now go back to work to restock shortages, delayed services.
Refiling jobs lost in pandemic. E.g., airlines have problem with employee shortage, lay off employee already changed profession. Unemployment is somehow misleading, because many workers left labor force for good during pandemic.
New salary is not high enough to overcome inflation and bring housing market to balance.

tracking household financial health like credit card delinquency
.



.

Shaman says

That’s good because shipping traffic has been catastrophically low.

Oddly, my one shipping stock, FRO, has been doing well lately:

Credit ratings have been savaged due to economic factors having nothing to do with individual creditors' payments. I've had one card that I don't use cancelled in the past 2 moths. The CC companies and the banks are scared of an economic collapse,

stereotomy says

Credit ratings have been savaged due to economic factors having nothing to do with individual creditors' payments. I've had one card that I don't use cancelled in the past 2 moths. The CC companies and the banks are scared of an economic collapse,

I have had cards I didn't use cancelled on me many times over the last 20 years. I don't see any correleation with the state of the economy whatsoever. You get a card for bonus miles or 0% or any other reason and once that reason is not there anymore and you don't use the card it will get cancelled in 2-3-4 years.

Peak employment was 64% in 2000 and 61% in February 2020.

It is now 60% and recovering from the crash in 2020.

.



.

The unemployment numbers are misleading today because there are huge numbers of guys no longer in the workforce.

True.

When people stop looking, they no longer count as unemployed, and the unemployment rate deceptively goes down.

clambo says

The unemployment numbers are misleading today because there are huge numbers of guys no longer in the workforce.

I agree that is why I track percentage of population that is employed and posted the graph above.

It provides a general trend as far as if the percentage if at least holding steady or if many working age people are dropping out of the labor force.

.

.

The CNN fear and greed index is at 24. It usually bottoms at 20 and tops at 75.

https://www.cnn.com/markets/fear-and-greed

.

clambo says

The unemployment numbers are misleading today because there are huge numbers of guys no longer in the workforce.

Mostly due to jab mandates.