China’s Financial Woes and America’s Financial successes.
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Sound of Freedom is getting bashed by many left-wing outlets and this comedian knows why!
Stories of the Week
Americans have more cash now then they did pre-pandemic.
A lot of people in the US are seeing healthier bank accounts then they did before the pandemic crushed us all. This is thanks to many different factors. Inflation is
cooling and wages are rising. Last month the inflation rate was below the wage increase rate for the first time in a while. Teh pandemic had us stop our spending on experiences and we are now getting back to that, but our accounts had time to grow because of the halt. However, with student loans coming due and auto-debtors looking to collect on everything from car loans to credit cards, that influx in cash may be short lived for the American people.
Side note: Our European brothers and sisters are supposedly getting poorer since the pre-pandemic levels.
China has a stagnating GDP, which is good news for the US.
The US economy has been doing well overall. The Fed’s soft landing where they cool inflation but do not push us into a recession seems to be a real possibility.
Employers are still looking to hire, and inflation rate last month was under the wage increase rate. Yet, China is fumbling their position as the worlds #2 economy. unemployment rates are high among youth, and growth in China has not really budged between the first and second quarter of this year. These economic woes hitting China should lead CCP President Xi Jinping to make some serious moves in the near future.
Q2 Earnings Results have sent US stocks to new highs. Tesla and Netflix are both expected to beat expectations this week.
EV’s are getting price cuts across the board as
even Ford slashes the price of its EV pickup. EV inventory is outpacing demand and Econ 101 tells us that prices will fall.
Gaming is the next frontier for Media Conglomerates and Amazon and Google have failed but Netflix is taking a slow and steady approach to gaming that may pay off. Whoever can break through the $200B/year gaming world will leave the competition in the dust.
Student Loan payments will resume in the fall and the
the market is worried that borrowers will curb their spending even more.
No summer blockbusters have been able to compete with Sound Of Freedom. At least not in ratio. The $300m Mission Impossible movie only earned $56 million in its opening weekend. but SoF only had a $14 million budget and has raked in $85 million so far and is still going strong.
Russia is not allowing Grain to leave the bread basket of Ukraine. This could
cause Global Food prices to go a little wacky. Poor countries are now going to struggle mightily to get the food they need.
Eli Lilly has a new drug that can slow the progression of Alzheimer’s. Expect Eli Lilly to get a major boost, but the new drug donanemab will be $$$!
There are more NBA players making $30M/year then S&P 500 CEO’s with $30M guaranteed in their salaries. People complain about Pro-athletes making too much
money, but they only get that money if we pay to watch them play.
Rejection rates for Americans applying for loans are at their highest since 2018.
President Hopeful DeSantis has spent more money then anyone else in the race so far for 2024. Trump has money to blow but is waiting to spend and Pres. Biden has not been able to raise as much as democrats would have hoped.
United Airlines is increasing
pay to its pilots by 40% over four years.
Twitter has negative cash flows and ad revenue has dropped by 50% according to Elon Musk.