1. Massive Job Revisions: U.S. job additions were revised lower by 818,000, the largest revision since 2009. ๐
2. Rising Unemployment: The unemployment rate is now at 4.3%, the highest since 2021. ๐
3. Consistent Downward Revisions: 5 out of the last 6 jobs reports have been revised lower. ๐
4. Multiple Jobs: A record number of Americans are now working multiple jobs to make ends meet. ๐ผ
5. Dollar Decline: The U.S. Dollar has lost 25% of its purchasing power in just 4 years. ๐ธ
6. Credit Card Delinquencies: 11% of U.S. credit card balances are now delinquent, the highest in over a decade. ๐
๐ฉ Is This a "Soft Landing?"
- Deficit Spending: U.S. deficit spending as a percentage of GDP is at World War 2 levels. ๐
- Government Spending: Current government spending mirrors that of a major crisis situation.
โ The Real Question:
Is this what the Fed meant by a "soft landing," or are we navigating through deeper economic troubles than expected?