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“Blind Faith” – These Economic Numbers Are Staggering

"Blind Faith" – These Economic Numbers Are Staggering

Authored by Michael Snyder via The Economic Collapse blog,

If you are struggling to…



"Blind Faith" - These Economic Numbers Are Staggering

Authored by Michael Snyder via The Economic Collapse blog,

If you are struggling to make it in this economy, you are not alone, because there are millions of other Americans in the exact same boat. 

Needless to say, the cost of living has become extremely oppressive, and that has put a tremendous amount of financial stress on U.S. families.

Unfortunately, the Federal Reserve has chosen to fight inflation by aggressively hiking interest rates, and that is starting to cause massive problems.  The money supply is actually shrinking, the banking system has been thrown into a state of chaos, and we are witnessing a tsunami of layoffs that is unlike anything that we have seen since the Great Recession.

For most Americans, employment is the only thing standing between them and poverty.  In fact, one recent survey discovered that 44 percent of Americans actually work more than one job…

Forty-four percent of Americans work a second job, a 13 percent increase relative to the Trump administration, a LendingClub report revealed Tuesday.

The recent increase under President Joe Biden is highlighted by a survey from FlexJobs, which found 69 percent of employed professionals either have a side job or want one.

This is our economy now.

Tens of millions of Americans have to work multiple jobs just to survive.

And at this point more than 60 percent of the population is living paycheck to paycheck

The LendingClub report also revealed 62 percent of Americans, including 48 percent of high-income consumers, were living paycheck to paycheck in February, up two percentage points from the month prior.

But if you are able to find a way to scrape by from month to month, you should be quite happy, because according to author Matthew Desmond approximately 18 million Americans have been living in a state of “deep poverty”…

In his book, Desmond, analyzing data from the U.S. Census Bureau and other sources, reports that 1 in 18 people in the U.S. live in what’s considered “deep poverty,” or what he calls “a subterranean level of scarcity.”

In 2020, this category included people who make less than $6,380 a year, or families of four living on less than $13,100. In 2020, almost 18 million people in America lived in these conditions, including some 5 million children.

As I sit here, I am having a difficult time comprehending these numbers.

They are just so bad.

Unfortunately, economic conditions are rapidly getting worse.  On Thursday, we learned that Roku will be conducting a second round of layoffs

Streaming device company Roku is planning to lay off another 200 workers, just months after it cut the same number of positions in 2022.

In a U.S. Securities and Exchange Commission filing this week, Roku, Inc. wrote that it has “approved a restructuring plan to lower the Company’s year-over-year operating expense growth and prioritize projects that the Company believes will have a higher return on investment, which is expected to impact approximately 200 employees, approximately 6% of the Company’s workforce, and result in the exit and sublease, or cease use, of certain office facilities that the Company does not currently occupy.”

And EA has just announced that it wil“lay off about 6% of its workforce”

Videogame publisher Electronic Arts said on Wednesday it will lay off about 6% of its workforce and reduce office space in an attempt to cut costs.

EA had about 12,900 staff as of March-end last year.

The Madden NFL publisher also said it will move away from projects that do not contribute to its strategy.

I was quite alarmed when I heard that.

I thought EA was doing well.

Burger King will also be giving the axe to large numbers of workers as it closes 26 locations

Burger King has announced it will lay off 424 members of staff as it gears up to close 26 restaurants through April.

Store closures began on 17 March and will continue through next month as the chain shuts doors due to ‘unforeseen business circumstance’.

And if Bed Bath & Beyond is unable to raise hundreds of millions of dollars, the entire company may soon go belly up…

Bed Bath & Beyond will sell up to $300 million of its stock to repay creditors and fund its business as it struggles to avoid bankruptcy.

If it’s not able to raise sufficient money from the offering, the home furnishings giant said Thursday it expects to “likely file for bankruptcy.”

There are going to be so many stories like this in the months ahead.

After years of super low interest rates and easy money, our leaders have thrown things into reverse.

At this point, our money supply is actually “falling at its fastest rate since the 1930s”

U.S. money supply is falling at its fastest rate since the 1930s, a red flag for the economy and financial markets. Money supply has now been shrinking year-on-year since December, an unprecedented development in modern times that should make investors sit up and take notice – growth, asset prices and inflation could all weaken.

According to Reuters, It is largely a consequence of the reversal of the liquidity generated by massive post-pandemic fiscal and monetary stimulus, the Federal Reserve shrinking its balance sheet via quantitative tightening, falling bank deposits, and weak demand for and provision of credit.

Needless to say, the 1930s were not a good time for our economy.

And as our historic banking crisis rolls on, small and mid-size banks all over the nation are going to get really tight with their money.

That means that they will be issuing fewer mortgages, fewer commercial real estate loans, fewer auto loans and fewer credit cards.

In other words, economic activity is really going to slow down.

The good news is that we can see what is happening in advance, and so those that are wise will be able to make preparations to weather the coming storm.

Unfortunately, most of the population still trusts our leaders when they say that everything is going to work out just fine somehow.

So many people have blind faith in the system, even though the system is now starting to crumble all around us.

*  *  *

Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on, and you can check out his new Substack newsletter right here.

Tyler Durden Sat, 04/01/2023 - 10:30

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British pound eyes UK employment release

UK releases employment data on Tuesday BoE’s Bailey says rate decisions will be tight The British pound has started the week in positive territory. In…



  • UK releases employment data on Tuesday
  • BoE’s Bailey says rate decisions will be tight

The British pound has started the week in positive territory. In the European session, GBP/USD is trading at 1.2166, up 0.17%. The pound had a rough week, falling by 0.74% after a hotter-than-expected US inflation report saw the US dollar climb sharply.

It’s a busy week in the UK, with employment data on Tuesday, followed by inflation on Wednesday and retail sales on Friday. The Bank of England will be watching closely, with the inflation report being the key release of the three. The BoE meets next on November 2nd after pausing at the September meeting. The decision marked the first time after 14 consecutive rate increases that the BoE held rates. The move was a close call, with a 5-4 vote in the Monetary Committee Policy.

UK job growth, wages expected to ease

The BoE’s rate hikes have cooled the economy and job growth has dropped off sharply. Job creation fell by 207,000 in the three months to July, the sharpest job decline since September 2020. This sharp downtrend is expected to continue, with an estimate of a loss of 195,000 for the three months to August.

At the same time that job growth is falling, wage growth remains very strong. Average earnings including bonuses rose 8.5% y/y in the three months to July, and the market estimate for the three months to August stands at 8.3%. High wage growth is contributing to inflation, which currently stands at 6.7%. That figure is the lowest since February 2022 but is the highest in the G-7 and nowhere near the BoE’s 2% target.

Bank of England Governor Bailey said on Friday that future rate decisions would continue to be tight. The central bank is keeping its options open, and Deputy Governor Broadbent said last week that it was an “open question” whether the Bank would raise rates again. Broadbent noted that energy prices were dropping, which would likely inflation back to the 2% target by 2025. The issue facing Broadbent and his colleagues at the BoE is whether inflation will fall fast enough without any further hikes or will the BoE have to tighten further.


GBP/USD Technical

  • GBP/USD is testing resistance at 1.2164. Above, there is resistance at 1.2202
  • 1.2066 and 1.1973 are providing support

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Why Tesla shares are faltering heading into Q3 earnings

Elon Musk’s Tesla is set to report earnings Wednesday.



After a strong first half of the year, shares of Tesla  (TSLA) - Get Free Report have dipped recently, previously closing down 3% at $251.12, a trend that continued in pre-market trading. Still up slightly more than 100% for the year, investors are anxiously looking ahead to the earnings Tesla will report Wednesday. 

As the report edges closer, many investors, according to Morgan Stanley's Adam Jonas, are not feeling very positive about the quarter. 

Related: Here's why the Tesla bears are very wrong, according to Wedbush analyst Dan Ives

After hosting a lunch with several prominent Tesla investors last week, Jonas wrote in a note that investor sentiment leading into earnings "skews cautious." Investors remain disinterested in Dojo and Tesla's self-driving efforts due to their unpredictability and Musk's consistently fruitless promises relevant to the topic.

Investors are additionally nervous about the coming Cybertruck; a further delay in the full production and mass delivery of the new Tesla model, Jonas said, could cause another round of price cuts, something that is feeding the negative sentiment around the stock.

Last year, a Tesla Model 3 started at $48,000. Now, the same vehicle is available for less than $40,000. 

Allison Dinner/Getty Images

"The price war in China is a high stakes poker game for Tesla as so far the 'volumes over margin' thesis has worked well to gain market share," Wedbush analyst Dan Ives said, adding that "this trend cannot continue at this pace into 2024." 

Ives noted that the price war, alongside gross margins, will be a "major focus" for Tesla's outlook post-earnings. 

Jonas forecasted that Tesla's gross margin, due to said price cuts, will fall to 17.5% for the quarter, down from 19% in the first quarter and 24.3% in December 2022. Wells Fargo analyst Colin Langan predicted that, assuming price cuts will continue into the fourth quarter, the company's margin could dip below 15%. 

These falling margins, Gene Munster, managing partner at Deepwater Management said last week, will help pull Tesla closer to the margins of its fellow automakers, and further from the margins of the Big Tech companies Tesla would like to join. 

But Gary Black, managing partner of The Future Fund, which remains "hugely bullish" on the Cybertruck, noted a forecast of 40% volume growth and 39% earnings-per-share growth for the coming year. 

Related: Elon Musk makes a big move to compete with Jeff Bezos' Amazon

"Low expectations and negative sentiment going into Wednesday’s Tesla earnings probably a good thing," he added. 

Against this backdrop of cautious investor sentiment, Tesla delivered 435,000 vehicles for the quarter, below Street estimates of 455,000. The company said that it is still on track to reach a volume of 1.8 million units for the year. 

"We agree with the consensus that the performance of Tesla stock following the print will likely be driven by comments on the forward outlook," Jonas wrote. 

Opening at $250.05, shares of Tesla rose slightly Monday morning. 

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Cell-friendly bioprinting at high fidelity enhances its medical applicability

Osaka, Japan – What if organ damage could be repaired by simply growing a new organ in the lab? Improving researchers’ ability to print live cells…



Osaka, Japan – What if organ damage could be repaired by simply growing a new organ in the lab? Improving researchers’ ability to print live cells on demand into geometrically well-defined, soft complex 3D architectures is essential to such work, as well as for animal-free toxicological testing.

Credit: Shinji Sakai

Osaka, Japan – What if organ damage could be repaired by simply growing a new organ in the lab? Improving researchers’ ability to print live cells on demand into geometrically well-defined, soft complex 3D architectures is essential to such work, as well as for animal-free toxicological testing.

In a study recently published in ACS Biomaterials Science and Engineering, researchers from Osaka University have overcome prior limitations that have hindered cell growth and the geometrical fidelity of bioprinted architectures. This work might help bring 3D-printed cell constructs closer to mimicking biological tissue and organs.

Ever since bioprinting was first reported in 1988 by using a standard inkjet printer, researchers have explored the potential of this layer-by-layer tissue assembly procedure to regrow damaged body parts and test medical hypotheses. Bioprinting is to eject a cell-containing “ink” from a printing nozzle to form 3D structures. It is usually easier to print hard rather than soft structures. However, soft structures are preferable in terms of cell growth in the printed structures. When printing soft structures, doing so in a printing support is effective; however, solidification of ink in the support filled in a vessel can result in its contamination with unwanted substances from the support. Ink solidification into a soft matrix using a printing support without contamination, while retaining cell viability, was the goal of this work.

“In our approach, a 3D printer alternately dispenses the cell-containing ink and a printing support,” explains Takashi Kotani, lead author of the study. “The interesting point is that the support also plays a role in facilitating the solidification of the ink. All that’s necessary for ink solidification is in the support, and after removing the support, the geometry of the soft printed cell structures remains intact.”

Hydrogen peroxide from the support enabled an enzyme in the ink to initiate gelation of the ink, resulting in a gel-enclosed cell assembly within a few seconds. This rapid gelation prevented contamination of the assembly during formation. After removing the support, straightforward 3D constructs such as inverted trapezium geometries as well as human nose shapes—including bridges, holes, and overhangs—were readily obtained.

“We largely retain mouse fibroblast cell geometry and growth, and the cells remain viable for at least two weeks,” says Shinji Sakai, senior author. “These cells also adhere to and proliferate on our constructs, which highlights our work’s potential in tissue engineering.”

This new technique is an important step forward to engineering human cell assemblies and tissues. Further work might involve further optimizing the ink and support, as well as incorporating blood vessels into the artificial tissue to improve its resemblance to physiological architectures. Regenerative medicine, pharmaceutical toxicology, and other fields will all benefit from this work and further improvements in the precise fidelity of bioprinting.

The article, “Horseradish Peroxidase-Mediated Bioprinting via Bioink Gelation by Alternately Extruded Support Material,” was published in ACS Biomaterials Science and Engineering at DOI:


About Osaka University 
Osaka University was founded in 1931 as one of the seven imperial universities of Japan and is now one of Japan’s leading comprehensive universities with a broad disciplinary spectrum. This strength is coupled with a singular drive for innovation that extends throughout the scientific process, from fundamental research to the creation of applied technology with positive economic impacts. Its commitment to innovation has been recognized in Japan and around the world, being named Japan’s most innovative university in 2015 (Reuters 2015 Top 100) and one of the most innovative institutions in the world in 2017 (Innovative Universities and the Nature Index Innovation 2017). Now, Osaka University is leveraging its role as a Designated National University Corporation selected by the Ministry of Education, Culture, Sports, Science and Technology to contribute to innovation for human welfare, sustainable development of society, and social transformation. 

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