FedEx CEO: Get Prepared for ‘Worldwide Recession’
The Trends Journal has reported that the world economy was decimated by needless COVID lockdowns and stupid sanctions against Russia
The mainstream Presstitutes only ring the alarm when their government whore masters give them the approval. Anyone outside of the mainstream media who warns about a looming financial crisis is written off as a nut until approved voices eventually start saying the same thing.
Raj Subramaniam, the head of FedEx, told CNBC on Friday that the world is facing a global recession as his company’s stock was falling by 22 percent as of 1 p.m. ET.
“I’m very disappointed in the results that we just announced here, and you know, the headline really is the macro situation that we’re facing,” Subramaniam said, referring to missed revenue estimates for the year.
FedEx Ground service missed its sales target by $300 million.
“Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the U.S.,”Subramaniam said in a press release. “While this performance is disappointing, we are aggressively accelerating cost reduction efforts.”
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WHY IT MATTERS TO YOU: Gerald Celente has said the stock-market game is rigged. Having nothing to do with reality, it is nothing more than a corrupt Wall Street gambling casino. We have clearly stated with facts and data, the COVID War’s financial, mental and spiritual damage inflicted upon We the People by draconian political dictates is incalculable. It has destroyed the lives and livelihoods of billions.
We noted earlier this week that Ray Dalio, the billionaire founder of Bridgewater Associates, said what we have been warning about for months: the higher and faster interest rates rise, the deeper the equity markets and economies—that were artificially boosted with cheap money, artificial money—will decline.
WHAT DALIO POSTED ON LINKEDIN: What do you think? I think it looks like interest rates will have to rise a lot (toward the higher end of the 4.5 to 6 percent range) and a significant fall in private credit that will curtail spending. This will bring private sector credit growth down, which will bring private sector spending and, hence, the economy down with it.
The rise in interest rates will have two types of negative effects on asset prices: 1) the present value discount rate and 2) the decline in incomes produced by assets because of the weaker economy. We have to look at both. What are your estimates for these? I estimate that a rise in rates from where they are to about 4.5 percent will produce about a 20 percent negative impact on equity prices (on average, though greater for longer duration assets and less for shorter duration ones) based on the present value discount effect and about a 10 percent negative impact from declining incomes.
TREND FORECAST: Two consecutive quarters of shrinking economic output and ever-rising inflation means the U.S. has entered a period of Dragflation , our Top 2022 Trend in which as the economy contracts, prices will continue to expand. Yet, our definition is blackballed by the mainstream media who instead promote that recession is not real and at worst Europe and the U.S. will enter a period of “stagflation”: stagnant economy and rising inflation.
Inflation has risen faster than incomes. With supply chains disrupted during the COVID War, there have been shortages of raw materials, finished goods and components which have driven, and keep driving, prices higher.
GREAT video Gerald. And for what it's worth, I find your honest reactions to the BS refreshing. I feel exactly the same way. It's infuriating. It's really good for us to express this instead of internalizing it.