(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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Kamala Endorses Dockworkers Strike That Union Boss Boasted Would ‘Cripple’ the Economy
by Daily Wire
Vice President Kamala Harris sided Wednesday with dockworkers who launched a massive strike this week that threatens to cripple the economy. “This strike is about fairness,” Harris said. “Foreign-owned shipping companies have made record profits and executive compensation has grown. The Longshoremen, who play a vital role transporting essential goods…
‘Drill, Baby, Drill’: Energy Costs To Drop ‘50%,’ Trump Tells Dave Ramsey
by Headline USA
Former President Donald Trump pledged, if re-elected, to cut energy costs “50%” during a recent interview with financial expert Dave Ramsey that was released on Wednesday. Ramsey, one of the most popular radio hosts in the country, said he had offered to talk with Vice President Kamala Harris, as well,…
Do You Want Your Prepper Bar Shipped to Your Home or Added to Your IRA?
by Sponsored Post
The massive shift of money being exchanged for physical precious metals started in 2022 with Central Banks across the globe breaking records. The frenzy caught on with large investment firms and financial institutions like BlackRock and JPMorgan in 2023. 2024 has been the year of regular citizens making the same…
Byron Donalds Brings Receipts, Shocks “The Breakfast Club” That Kamala Cause the Inflation Crisis
by Louder With Crowder
The Dems would be nothing without this country’s most ignorant voting base. And as you likely know, had it not been for Kamala’s two tie-breaking votes, you would have more cash in your wallet. But because she believed the government could somehow spend its way out of inflation, she is…
Biden to Stay Out of Port Strike as Trade Flows Halt, Union Boss Threatens to ‘Cripple’ Economy
by Just The News
The White House has remained firm in its position that it will not intervene in negotiations between port workers and dock employers as trade flows screech to a halt and the lead union boss threatens to “cripple” the economy less than 35 days before the presidential election. A general strike…
Celebrity Jeweler Goes Viral Tossing Cash After Selling Anti-Trump Chain
by Headline USA
A popular celebrity jeweler went viral for endorsing President Donald Trump in an unconventional way: selling his anti-Trump gold pendant and dramatically tossing the cash into the air in Times Square. Maksud Agadjani, owner of TraxNYC, had previously collaborated with actor George Lopez on the creation of the pendant, which…
Launching the RIGHT REPORT to Fight the Real Enemies
by Publius
According to Ecclesiastes 10:2, A wise man’s heart inclines him to the right, but a fool’s heart to the left. The implications are stunning when we consider society today. That may not be the original intent of the verse but it clearly applies to the modern world. But what is…
The New Data on Illegal Alien Crime Is Shocking
by John R Lott Jr
(RealClearWire)—The new data on all the criminal noncitizens coming into the U.S. is shocking. The U.S. Immigration and Customs Enforcement (ICE) checks the background of illegal aliens they have in custody. But, the administration’s letter to Rep. Tony Gonzales (R-TX) shows that as of July 21, 2024, ICE let 435,719…
Exposing the Multi-Front Warfare Against American Freedom Through the United Nations
by Liberty Sentinel
In this episode of The Sentinel Report, host Alex Newman covers the latest news, including outrage as the U.S. Department of Justice defends the United Nations’ staffers who collaborated in Hamas’ terror. Next up, Alex invites Ken Abramowitz, the author of “The Multifront War: Defending America From Political Islam, China,…
Months After Becoming a Major Abortion Provider, Struggling CVS May Have to Dismantle Company
by Western Journal
There is absolutely no joy to be had when news breaks that more people could be facing joblessness under the Biden/Harris administration. But there is absolute joy to be had when news breaks that it could become that much harder to murder unborn children. Many Christians and pro-lifers are caught…
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.