(The Economic Collapse Blog)—Warren Buffett did not become a billionaire by being stupid. According to Forbes, Buffett is worth more than 144 billion dollars, and that makes him one of the wealthiest men in the entire world. He made his money in the stock market, and so why is he now pulling money out of the stock market at a feverish pace? Does he anticipate that a crash is coming? Earlier this year, Buffett shocked the investing community when his company sold off half the Apple shares that it was holding…
Warren Buffett, the legendary investor known as the “Oracle of Omaha” (and “Fireball” by his father), is famous for his smart investment choices. So when it was revealed that his company, Berkshire Hathaway, sold half its Apple shares, many investors were puzzled, trying to understand what it meant.
The number of Apple shares that Berkshire Hathaway has dumped is absolutely astounding.
It is being reported that close to 500 million shares were sold during the first and second quarters combined…
In the first quarter of 2024, Berkshire Hathaway sold over 100 million Apple shares, and in the second quarter, they sold an additional 390 million shares.
More recently, Berkshire Hathaway has been selling off Bank of America shares…
Warren Buffett’s Berkshire Hathaway (BRKa.N), opens new tab has trimmed its stake in Bank of America (BAC.N), opens new tab once again, making the total sales since mid-July nearly $7 billion.
The conglomerate, run by one of the world’s most revered investors, disclosed late on Thursday it sold 18.7 million shares of the second-largest U.S. bank between Sept. 3 and Sept. 5 to rake in roughly $760 million.
Buffett’s moves look quite savvy based on what has been happening so far this month. In fact, we just witnessed the worst week for the S&P 500 since March 2023…
The S&P 500 dropped Friday, notching its worst week since March 2023, as investors assessed the fallout from a weak August jobs report and ditched leading technology stocks.
Will this week bring even more pain?
Right now, investors are concerned that the economy may be slowing, and those concerns were bolstered by Friday’s employment report.
As Zero Hedge has noted, that report told us that the U.S. lost a whopping 438,000 full-time jobs last month…
Starting at the top, while the number of employed workers did rise by 168K, looking closer at the composition of this increase is disastrous: that’s because it consisted of an increase of 527K part-time jobs, offset by a 438K plunge in full-time jobs.
This means that since last June, the US has added just over 2 million part-time jobs, and lost over 1.5 million full-time jobs.
If you want a low-paying part-time job, it is still fairly easy to find one. But good paying jobs have been rapidly disappearing. The president of a firm that finds positions for white-collar workers says that the market is in “bad shape” at this moment…
Economists largely agree that the labor market is “cooling,” but one recruiting industry veteran says that is a significant understatement.
Brian Howard is the founder and president of the Howard Group, a boutique search firm located in Overland Park, Kansas, that has been in business for more than 30 years, which companies hire to recruit candidates in an array of white-collar positions.
He said the job market is in “bad shape.”
I would say that “bad shape” is quite an understatement.
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Earlier today, I came across an article about a man with an MBA that has been unable to find work even though he has applied for more than 1,500 jobs…
Marcial Quinones, 48, used to have few problems getting jobs in the 1990s without a high school diploma. Now, after what he estimates is over 1,500 applications since the early 2010s, he can’t land any stable job in his field even with an MBA.
Quinones, a father of four who lives in rural eastern Pennsylvania, said he’s struggled to land a long-term job in tech or counseling. He has held part-time positions and built his own inventory software to sell to companies, though he rarely gets interviews, even after redoing his résumé two dozen times.
There are so many people that are looking for work right now. For many Americans, low-paying part-time jobs just won’t suffice because the cost of living just continues to go up.
Thanks to the rising cost of living, the percentage of U.S. households with children that are “food insecure” has risen to a very alarming level…
Now, the inflation crisis under the Biden-Harris administration has intensified this issue even more. It was especially families with children that suffered during Covid-19 as school lunches disappeared and they have been hardest hit again in 2022 and 2023.
As Statista’s Katharina Buchholz reports, the USDA just published its latest report on the issue, showing that last year, almost 18 percent of households where children lived were food insecure, up from 17.3 percent in 2022 and 12.5 percent in 2021.
In a lot of those households, at least one adult is actually working.
But in many cases there simply is not enough money coming in to even cover the basics.
At this point, working Americans have so little discretionary income to spare that even dollar stores are really struggling…
Dollar Tree stocks plunged to a 9-year low earlier this week, after the chain delivered a disappointing earnings report.
Earlier this year, the company announced it would close 600 Family Dollar stores in 2024, after it struggled to integrate the chain into its business.
Dollar General, which is the biggest dollar store in the US and is located mostly in low-income, rural areas, also reported dismal sales last month and saw its stock plummet.
This is where we are at now.
And since our leaders simply refuse to stop wildly spending money, it is inevitable that the cost of living will just continue to go up.
Our standard of living is being absolutely eviscerated, and it is because of decisions that have been made by those in positions of power.
If our leaders had made different decisions, we could have gotten different results. But now tens of millions of U.S. households are deeply hurting, and much more pain is on the horizon.
Warren Buffett is clearly concerned about the short-term future. He has been dumping hundreds of millions of shares, and it appears that this could end up being one of the best moves of his entire career.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
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Failed Trump Assassin’s 19 Political Donations Revealed
by RVM News
The suspect arrested for allegedly attempting to assassinate former President Donald Trump on Sunday has a documented history of supporting Democratic political candidates and causes, according to reports. Ryan Wesley Routh, 58, from Kaaawa, Hawaii, has been identified as the individual behind the assassination attempt, and his political donations and…
CNN Analyst Says the Quiet Part Out Loud About the Second Trump Assassination Attempt
by Townhall
Donald J. Trump survived another assassination attempt. Luckily, he was unharmed, and no shots were directed at him. He also wasn’t injured, but Ryan Wesley Routh, the man identified as the former president’s would-be assassin, was waiting for him at Trump International Golf Club in West Palm Beach, Florida. The…
Did Big Tobacco Create the Processed Food Industry?
by Dr. Joseph Mercola
Big Tobacco companies like Philip Morris and R.J. Reynolds strategically acquired major food companies in the 1980s, dominating the U.S. food system for over 20 years and shaping processed food formulations Tobacco-owned foods were more likely to be “hyper-palatable,” engineered with specific combinations of fat, sugar, salt and carbohydrates that…
Another Attack on President Trump Prompted Prepper Surge
by Sponsored Post
The 2nd attempted assassination of Donald Trump has prompted renewed concerns over the nation’s future. Website traffic on Sunday was higher than it’s been in our history. One does not have to be a Republican to realize that chaos may be in store for us soon. At Prepper All-Naturals, we’re…
Banks Urged to Defund Farming Industry to Limit Meat and Dairy Consumption
by Slay News
Major banks are being urged to stop financing the global farming industry as part of an effort to force limits on the general public’s meat and dairy consumption. A collective of over 100 climate groups, led by Friends of the Earth, is pressuring JPMorgan Chase, Citigroup, and other private banks…
EV Dealers Are So Desperate to Offload Stock That They’re Offering Lease Deals for $20 a Month
by PJ Media
How soft is the new EV car market? Some EV vehicles have been on their lots for so long that they’re offering lease terms so generous, they may as well be giving them away. A Kia dealer in Virginia only gets a couple of inquiries a month for EVs. The…
Report: Twice the Number of ICE Detainers Issued Under Trump Than Biden
by Bethany Blankley, The Center Square
(The Center Square)–Twice the number of detainers were issued for criminal illegal aliens under the Trump administration than the Biden administration, according to a new analysis of federal data published by the Transactional Records Access Clearinghouse. The nonprofit data research center is affiliated with the Newhouse School of Public Communications…
Trump Announces Major New Working-Class Tax Cut During Arizona Rally
by Conservative Brief
Former President Donald Trump has announced a plan that could win him a higher percentage of middle-class workers’ votes. Speaking at a rally in Arizona on Thursday, he said that if he became president again, he would spearhead an effort to end taxes on overtime pay, The Daily Wire reported….
Trump’s Latest Tax Cut Proves to Be Popular Among Voters
by Townhall
Less than two months before the 2024 election, the race is close, with voters split between former President Donald Trump and Vice President Kamala Harris. However, there seems to be a consensus that the economy is among voters’ top issues, and according to polls, the majority trust Trump more to…
Saudi Central Bank Caught Secretly Buying 160 Tonnes of Gold in Switzerland
by Zero Hedge
The Saudis have joined other Asian countries in ditching their long-term sensitivity to the gold price. Evidence suggests the Saudi central bank has been covertly buying 160 tonnes of gold in Switzerland since early 2022, contributing to the current gold bull market. Until recently, Saudi Arabia’s gold demand would decline…
First They Came for Guns, Then Oil and Now Meat
by Frontpage Mag
The rise of lawless, baseless lawsuits, began with firearms companies. Then organized debanking campaigns were launched to pressure banks to stop lending money to companies that manufacture firearms. Those same tactics were then used to go after oil, gas, and cheap energy providers. Now the next wave of lawfare and…
‘Mind-Boggling’: Billions Gone and Little to Show for It Years After Rampant COVID Fraud
by Just The News
Years after the passage of federal COVID-era relief and the subsequent loss of likely hundreds of billions of those taxpayer dollars, lawmakers are still unsure where that money went, how to get it back, and seemingly have done little to prevent it from happening again. Federal watchdog and other reports…
Florida Will Conduct Investigation Into Trump Assassination Attempt: DeSantis
by Jack Phillips
Florida Gov. Ron DeSantis on Sunday announced the state will launch its own investigation into the apparent assassination attempt targeting former President Donald Trump earlier in the day. The FBI has said in a statement it is investigating the matter as an assassination attempt, while law enforcement officials said on…
WARREN BUFFETT THE DUMBEST RICH MAN IN THE WORLD
https://open.substack.com/pub/marcelcousineau/p/warren-buffett-the-dumbest-rich-man?r=3cw21d&utm_campaign=post&utm_medium=web
Yes, Buffet is sitting on over a billion in cash. Apparently no insider trades to get him out of this one.