Bezos warned the US economy is likely to slump in a painful recession.
He advises consumers and businesses to delay purchases and stockpile cash.
Jeff Bezos has warned a US recession is looming, and advised consumers and businesses to stockpile cash in case there’s a devastating downturn.
“The economy does not look great right now,” Amazon‘s billionaire founder and executive chairman told CNN on Saturday.
“Things are slowing down, you’re seeing layoffs in many, many sectors of the economy,” he continued. “The probabilities say if we’re not in a recession right now, we’re likely to be in one very soon.”
Bezos recommended American households delay big-ticket purchases such as new TVs, refrigerators, and cars, given the risk that economic conditions worsen. Similarly, he suggested small-business owners consider holding off on investments in new equipment, and build their cash reserves instead.
The e-commerce pioneer declined to estimate how long the recession could last, but he urged people to be ready for an economic disaster.
“Take as much risk off the table as you can,” he said. “Hope for the best, but prepare for the worst.”
It’s not like we aren’t in one already, it’s more like it’s going to be longer, deeper and more painful than most people have been predicting.
As in Depression.
Even if it never reaches that status officially, millions of people in this country are going to get wiped out completely.
It’s already horrible for some.
65% of Americans live Paycheck to Paycheck by official estimates.
That number is low, trust me.
Credit card debt is already Sky High and lot’s of people have already maxxed out their credit limits before this part of the show even gets started.
Personal Debt overall is already at record Highs.
The Fed keeps dumping money into the system and whining about inflation out the other side of their mouth, while knocking interest rates up incrementally, trying to make someone believe they are doing something about the inflation they are causing.
All these interest rate increases are doing is reducing demand, which retailers have been screaming about for three months now.
Christmas is going to be a bloodbath this year for them and sparse for the rest of us.
This trend is going to last at least into Spring and more than likely into Summer.
Those of us who have been watching what’s been going on aren’t the least bit surprised and now we get to watch everyone else get up to speed with economic reality.
Buy food.
Buy ammo.
Buy needed meds. …today.
THIS minute..
Buy lots of the above.
Pray? No, unfortunately those days are over. Just like the Republic. It’s creepy strange. It’s creepy weird to lose a Country.. It’s beyond anything.
It isn’t a movie, it isn’t fiction. Let alone any episode of the Twilight Zone..
But damn it would be great if it was. It all flows from allowing a foreign born, Mooselimb Traitor.. To take the oath of Office. And then rapidly proceed to f*ck us all in the arse..
Courage? There’s nothing left to save.
Save yourselves.
If inflation was actually reported, along with unemployment and business closings and financial failures, then, yes, we’re already in a depression. We’ve been in a recession since, oh, Jan 21, 2020.
just remember one small thing. THEY planned for this to happen. nothing else explains what they have being doing to date. sad part of all of this is, the virus has showed them they can get away with almost anything now. people are just that fucking stupid. we need to know all of the assholes who are hiding behind the curtain and do this. but in the mean time, stock food, ammo. seeds and canning jars and lids. any meds you may need/want. plan on 2/3 of the locals coming for anything you have that they don’t. the clowns want us to die off, they don’t care how we die. just that we do. and whatever you do, do not plan on the cops or troops or the fairly godmother to save you. only you can do that.
think, plan. think some more and then act on it.
Please keep your hands and feet inside the ride at all times.
I didn’t follow the fake ass wet back while he was running for governor.
But I’ll bet that wasn’t part of his fake ass platform.
Phil, you are a cockeyed optimist, we won’t even see the bottom of this hole until after 2024. The last bone had 3 bottoms, 1929,1932 and 1937, and it took WWII to end that one. One reason for that one lasting as long as it did was who was running things cough Democrat cough. Here we are again. If things are ever better here, I don’t expect to live to see it.
Archer has the most accurate comment here, unfortunately. I think Archer is also an optimist. I don’t think there will be a recovery in my life time, if I live another 10 years. Good chance I’ll die of disease, starvation or violence in the next FEW years.
Have a great day y’all, it’s another beautiful day in paradise, despite the drizzle and cold.
James, it’s not just the Democrats. The two party system was created to prevent us from hanging them all.
It’s a distraction.
Like I read on a t-shirt recently, “I don’t need sex, the government fucks me everyday.” And they are fucking us really good with inflation.
And despite all of this, president Dipshit just promised 20 billion dollars to Indonesia to transition from coal. Another day, another scam. That imbecile needs to be dragged out of the Whitehouse, tried and executed. This bullshit needs to be stopped before we’re in too deep to ever recover. FJB!
More money laundering, that’s all. Anything labeled as “foreign aid” has a percentage that makes it back to the Big Guys in DC.
This money doesn’t actually exist, except in the ether. It just provides credit that can be drawn against.
FedEx Freight to furlough “unknown” number of drivers next month. (zerohedge)
Lots of signs appearing. I believe we’re in for a total depression of a scale not seen before in this country.
By next year, we could also lose our status as the worlds reserve currency. Dozens of countries have moved already to ditch the dollar. They’ve been planning this.
Remember, we’re only 4.2% of the worlds population, 10% if you include Western Europe, Canada, New Zealand and Australia.
China, India, Russia, and others have established non-dollar trade agreements with each other already.
Grab your ankles, this one’s going to hurt.
Beezose, what a freakin fortune teller. This one is gonna be the mother of all. The amount of global debt, the unfunded pension liability and money printing.
Not a Debbie downer just a realist as I have been watching closely this shit show for years now. I will pray and do the best I can as we all will.
Hope to see you on the other side.