Tag: The Greater Recession

Elon Musk has a super bad feeling on the economy

Despite a relatively surprisingly nice jobs report Friday..

Tesla CEO Elon Musk recently told executives that his electric carmaker needs to cut staff by 10% because he has a “super bad feeling” about where the economy was heading.

MORE..

The email, titled “pause all hiring worldwide,” was sent to executives on Thursday and is the latest sign of mounting macroeconomic headwinds as lower-than-expected US new car sales in May could be a harbinger of a recession.

In another email Tuesday, Musk told employees:

“Everyone at Tesla is required to spend a minimum of 40 hours in the office per week …“If you don’t show up, we will assume you have resigned.”

June 4, 2022
Summer shortage: The supply chain nightmare is going to get worse.. imminent warnings of diesel shortages on the East coast

Major trucking fleets across the eastern half of the US are preparing for an “imminent” diesel shortage, according to logistics firm FreightWaves.

Founder and CEO of FreightWaves Craig Fuller said “3 very large fleets” are preparing for diesel pumps at fuel stations to run dry. Drivers of these fleets received notifications about fuel shortages that could materialize in the coming weeks across the Mid-Atlantic and Northeast regions.

Developing..

May 11, 2022
Baby formula shortage nightmare: “This is a crisis. We can’t flip a switch and make a lot more formula”

Modi is CEO and cofounder of Bobbie, a San Francisco-based direct-to-consumer seller and subscription service for organic milk-based baby formula that is produced in a Vermont facility and backed by $72 million in venture capital funding.

She’s acutely aware of the desperation in those outreaches, which have intensified in recent weeks amid an ongoing nationwide shortage of infant formula. A message at the top of the company’s website says, “We’re temporarily at capacity for new customers.” Other manufacturers say they’re producing at full capacity and making as much formula as they can. But demand is heavily outstripping supply.

— Read on www.cnn.com/2022/05/10/business/baby-formula-production-bobbie/index.html

This is an absolute nightmare scenario for parents who rely on baby formula to feed their infants. Store shelves are bare, and there are reports nationwide of issues.

May 10, 2022
“RECESSION SHOCK” COMING.. coining the term now: The #GreaterRecession

The macro-economic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, BofA strategists warned in a weekly research note.

“‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming”, BofA chief investment strategist Michael Hartnett wrote in a note to clients, adding that in this context, cash, volatility, commodities and crypto currencies could outperform bonds and stocks.

The Federal Reserve on Wednesday signaled it will likely start culling assets from its $9 trillion balance sheet at its meeting in early May and will do so at nearly twice the pace it did in its previous “quantitative tightening” exercise as it confronts inflation running at a four-decade high.

April 8, 2022