• From: anonymous

You are 100% wrong about the economy! I see it doing very well. I am making good money, just bought a house, and contribute every payday to my 401k. Why do you spread disinformation?

Wow! You are very fortunate indeed. You are an anomaly in this economy. The label of your experience is commonly referred to as a positive micro-economy. The wider economy (i.e. the national US economy) is refereed to as the “macro-economy” and is doing very, very badly…and virtually every signal shows that to be true.

The difference between macro and micro is significant, but you have probably already been exposed to those terms prior to this response. For commonality, macro refers to a large sampling, micro to a very small sampling of whatever is being discussed.

Example #1: The global economy (macro-economy) might be doing poorly, but Vietnam’s economy (micro-economy) might be doing very well.

Example #2: The US economy (macro-economy) might be in very rough shape, but the Texas economy (micro-economy) may be booming.

Example #3 – a more extreme example: The US economy (macro-economy) might be tanking, but your personal/family economic situation (micro-economy) might be very stable and doing quite well.

Look at it this way…macro is the whole pie, micro is one bite of one piece of that pie. The pie could be a raspberry and blackberry pie with equal amounts of both kinds of berries. But, if your one bite has only 1 raspberry in it, then you could argue that it is only a raspberry pie when in-fact the whole pie is an equal combination of both.

Now, it doesn’t matter what is driving a micro-economy to be doing better than a macro-economy…there could be endless numbers of reasons. For example; 1) a job promotion with bonus and raise, 2) a very large commission check from a sale, 3) a high-demand job that pays extremely well, etc.

But let there be no doubt sir…the US economy is on life-support and will fail (or already has). Let me give you an example of ‘experts’ recently since you evidently don’t believe me:

• 6/2/2024 – Key Engines of US Consumer Spending Are Losing Steam All at Once (Bloomberg)
• 6/2/2024 – U.S. Money Supply Is Doing Something So Scarce That It Hasn’t Happened Since the Great Depression (Motely Fool) – [WARNING: the Money Supply is officially contracting. This has only happened 4 previous times in last 150 years. Each time a Depression with double-digit unemployment rates followed.]
• 6/2/2024 – Americans are worn down by high inflation and interest rates. (CNN)
• 6/3/2024 – Stock market today: Wall Street drifts to mixed finish after the latest signal of a slowing economy (AP)
• 6/4/2024 – Bond Market Rallies As Recession Worries Mount (Benzinga)
• 6/4/2024 – Stock market today: Stocks slip as US economy starts to show cracks (Yahoo!Finance)
• 6/4/2024 – The great American boom is finally running out of steam, leaving mountains of debt (The Telegraph)
• 6/4/2024 – Wall Street is having trouble getting ‘too excited’ about the US economy (Yahoo!Finance)
• 6/5/2024 – One of Wall Street’s top strategists sees stocks dropping 10% due to a ‘moderate form of stagflation’ (Fortune)
• 6/5/2024 – There are 8 warning signs of a stock market bubble and 6 of them have already flashed (Business Insider – USB)
• 6/5/2024 – Rising US Debt Load Poses a Growing Risk for Treasury Market (Bloomberg)
• 6/6/2024 – US economy ‘ready to crack’: Former Home Depot CEO blasts (MoneyWise)
• 6/6/2024 – Want to Pay Cash? That’ll Cost You Extra (WSJ)
• 6/7/2024 – Unemployment Rose, first time in 2 years (CNN)
• 6/11/2024 – Pimco Warns of More US Regional Bank Failures (Bloomberg)

The above are news stories from last week when I was originally responding to your question raised. Let me add the below, a partial list of layoff issues for 2024:

Remember that this disastrous economy is being felt by everyone, even the big boys…UPS expects to layoff 12,000 people this year. And don’t forget that tech companies have laid off 100,000 people so far in 2024 with huge numbers still expected. For a name-brand sampling…Tesla is expected to layoff 14000 people, Google 12000, Microsoft & Meta 10000 each, Amazon 17000, etc, etc, etc.

So believe what you will, your choice. And I am certainly glad and grateful that you are doing so well. I hope you are spreading some of that financial love around to those in need such as your church.

But let me leave this with you from 2 days ago…

“There’s a stock market crash coming in 2025 as the ‘bubble of all bubbles’ bursts,” says Harvard Business School economist Harry Dent. Dent estimated that the bubble has been forming for the past 14 years, far longer than most bubbles in history, which typically last for five or six years before bursting, he said.

“That’s partly because markets have been flooded with stimulus since the 2008 downturn, Dent said. Markets have benefited from around $27 trillion in stimulus since the financial crisis, he estimated, based on accumulated budget deficits and the amount of cash printed since then.”

“Bubbles are not followed by recessions. They’re followed by depressions,” Dent said. “I can tell you there has not been one bubble — and this is far larger and longer — on major bubble in history that has not ended badly, period.”

Find the nuggets in there and see what you think.

You know…I am no expert and probably wrong about the economy…don’t you think? Well, at least I hope and pray I’m completely wrong.

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