(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 Harris Says the American Dream Is “Gone”
by Modernity News
During a pre recorded interview, Kamala Harris once again failed to deliver any substantive outline of her policies, primarily attacking Donald Trump’s outlook and his first term in office. At one point when speaking about the economy, Harris appeared to suggest, in stark contrast to Trump, that the American Dream…
Gold Price Forecasts Skyrocket Following Moves by China and the Fed
by Sponsored Post
With the Federal Reserve beginning what most expect to be a sustained easing cycle, momentum continues to rise for gold and silver. Values have been steadily rising and the newest forecasts point to even more gains down the road. At the end of September, BMO Capital Markets published updated commodity…
Taxes and Tariffs and Trade: Oh My! Trump’s Plan to Bolster the Economy
by Just The News
In a bid to build a broader coalition, former President Donald Trump has outlined a vision of tax cuts, import tariffs, and “reciprocal trade” to preserve and restore American industries. Since coming down the escalator of Trump Tower in 2015, the Republican standard bearer has espoused unconventional trade policies and…
Expert Testimony: Mass Immigration Under Biden-Harris Is Driving Up Rents for Americans
by Breitbart
The arrival of millions of foreign nationals, many of whom are illegal aliens, under President Joe Biden and Vice President Kamala Harris is helping to drive up rents for working- and middle-class Americans, an expert witness told Congress Wednesday. Center for Immigration Studies Director of Research Steven Camarota told the…
This Year Marks First Since 1958 That Us Held No Oil and Gas Lease Sales
by Just The News
This year will be the first year since 1958 that the Bureau of Ocean Energy Management held no offshore oil and gas lease sales. Energy expert Alex Epstein, author of “Fossil Future,” argued at a recent House Budget Committee hearing the United States’ record-high oil production is in spite of…
Kamala’s Devastating Middle Class Taxes
by Independent Sentinel
With the election coming up, the IRS plans to reduce our taxes for 2025. it’s a common tactic to make it seem like they won’t tax us into oblivion once they return to office. CBS News: Some Americans could see lower federal income taxes in 2025 due to an annual…
Congress Passes Stop-Gap Spending Bill After Failed Mike Johnson Gambit
by Breitbart
Congress on Wednesday passed legislation that would fund the government through nearly the end of December. The House and the Senate passed a stop-gap spending bill that would push the government spending deadline to December 20. The measure, otherwise known as a continuing resolution (CR), keeps federal spending the same….
A ‘Bipartisan’ Bar Tried to Open in DC, Then Libs Cried That an Elephant Image Was ‘Hurtful.’
by The National Pulse
A new bar in Washington, D.C., whose political theme focused on bipartisan agreement and debate, succumbed to partisan pressure before the establishment could even serve its first drink. Originally billed as Political Pattie’s, the bar was flooded with complaints by liberals who said the establishment’s logo—specifically the Republican Elephant—was offensive…
Newsom Signs Bill Requiring Janitors to Take $200 Sexual Harassment Training
by Just The News
California Gov. Gavin Newsom signed a bill requiring companies that hire janitors to make sure janitors take sexual assault training every other year, and pay $200 per participant for sessions with under 10 janitors present, and $8 for sessions with 10 or more janitors. The bill also requires the government…
Biden-Harris Regime Prepares Another $8 Billion in Military Aid for Ukraine During Zelensky’s Washington Visit
by The Gateway Pundit
The Biden-Harris regime is once again prioritizing foreign interests over the well-being of American citizens, with plans to announce an eye-watering $8 billion in military aid for Ukraine during Ukrainian President Volodymyr Zelensky’s visit to Washington. This massive giveaway comes as Americans continue to face economic hardships, skyrocketing inflation, and…
‘Economic Dystopia:’ Silicon Valley Tycoon Predicts AI Will Take Over 80% of All Work
by Breitbart
Vinod Khosla, legendary Silicon Valley investor and entrepreneur, has predicted that AI will replace the majority of work in most jobs, necessitating the implementation of universal basic income (UBI) to prevent economic instability and inequity. Fortune reports that in a recent blog post, Vinod Khosla, the billionaire co-founder of Sun…
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.