Global Consumer debt (Credit cards, Car loans, Hire purchases etc) is at record levels…
…this in itself isn’t enough to collapse an economy, but when people lose their jobs, they stop making repayments…
…that’s when the house of cards collapses.
Amazon to axe 18,000 jobs as it cuts costs
Amazon plans to cut more than 18,000 jobs, the largest number in the firm’s history, as it battles to save costs.
The online giant, which employs 1.5 million people globally, did not say which countries the job cuts would hit, but said they would include Europe.
Most of the job losses will come from its consumer retail business and its human resources division.
Weekly mortgage applications fell to their lowest since 1996 … 🔥🔥🔥
Everything is fine … 😰 pic.twitter.com/9SSGDM0vZ3
— Wall Street Silver (@WallStreetSilv) January 5, 2023
NOW CAN WE CALL IT A RECESSION? U.S. trade deficit shrinks 21% to 26-month low as imports tumble.
AC