Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
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FDIC ASSETS SHRINKING AS RISK OF BANK FAILURES REMAINS HIGHER
The U.S. Federal Deposit Insurance Corp. (FDIC), which guarantees the safety of bank deposits up to $250,000, has seen its reserve shrink from $128 billion on 1 January to $116 billion now, according to the Financial Times.
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BANKS MAKING IT HARDER FOR SMALL BUSINESSES TO BORROW
Small businesses, especially startups, are finding it harder to get new loans, while some existing businesses are seeing their credit lines cut, The Wall Street Journal reported.
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EMPLOYERS ADDED 339,000 NEW WORKERS IN MAY
The U.S. jobs market refused to slow last month, with employers adding 339,000 non-farm workers across a range of economic sectors, according to the labor department’s initial estimate.
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CORPORATIONS FIND IT HARDER TO BORROW
The availability of loans to corporations, and the criteria to qualify for them, are at their most stringent since the depths of the COVID War, according to a Wall Street Journal investigation.
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INSIDERS SOLD BILLIONS IN SPAC STOCKS BEFORE COMPANIES CRASHED
The SPAC bust on Wall Street last year wiped billions of dollars from speculators’ accounts but made billions for SPACs’ executives and early investors, a Wall Street Journal investigation of more than 460 SPAC-related companies found.
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MILITARY INDUSTRIAL COMPLEX: THE KILLING FIELDS OF AMERICA
Beyond countless trillions of dollars America’s military-industrial complex has stolen from its plantation workers of Slavelandia since the end of World War II to mass murder some 12 million people in 19 wars (according to the WORLD FUTURE FUND), they have, and are killing its citizens in the United States.
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MIDDLE EAST MELTDOWN: ISRAEL BOMBS SECRET IRANIAN FACTORIES IN SYRIA: REPORT
The Israeli military bombed secret Iranian weapons facilities inside Syria earlier last month that were believed to be producing precision missiles for Iran’s Quds Force, according to reports.
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U.S. MOVES TO FORCE MEXICO TO BUY ITS ZOMBIE CORN
The U.S. upped the ante in its row with Mexico over genetically modified corn imports by requesting dispute-settlement consultations with Mexico City under a major trade agreement—and Mexico City said it is prepared to fight.
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THE DEBT DEAL: MORE SHOW THAN SUBSTANCE
As we had forecast for over a month, Congressional Republicans and President Joe Biden would reach a meaningless debt ceiling deal to avoid a national default. Also as we had forecast, the debt ceiling would be broken through once again with no end in sight... as the cover of this week’s Trends Journal illustrates.