Olde Business:
Employment numbers in the USA stay strong,
January 2023: the American economy added 517,000 jobs in the month of January, and the unemployment rate fell to 3.4%
February 2023:the American economy added 311,000 jobs in the month of February, and the unemployment rate rose to 3.6%
March 2023: the American economy added 235,000 jobs in the month of March, and the unemployment rate fell to 3.5%
CPI Inflation 2022/2023
October: 7.7 percent
November: 7.1 percent
December 2022: 6.5 percent
January 2023: 6.4 percent
February 2023: 6.0 percent
March 2023: coming April 14
Wall Street Casino Markets 2022/2023
1st 2nd 3rd 4th 2023 1st
Nasdaq 100 -9.6 -22.7 -3.9 -1.8 +16.8
S&P 500 -5.2 -16.6 -5.2 +6.4 +7
DJIA -4.5 -11.4 -6.5 +14.9 +0.4
New Business:
Elites in the Tower of Federal Reserve Drug Dealing were using the same Drugs fed to their Customers:
San Francisco Fed President Mary Daly’s district oversaw the second-largest bank failure in U.S. history.
In a 2021 review, the Fed identified significant vulnerabilities in the bank’s containment of risk.
In July 2022, Silicon Valley Bank received a closer look known as a full
supervisory review, which rated the bank deficient for governance and
controls.
The Federal Reserve of San Francisco met with top officials at the bank to address the lack of accessible cash and the potential risks posed by
rising interest rates. Former Silicon Valley Bank CEO Greg Becker sat on
the board of directors at the Federal Reserve Bank of San Francisco
from January 2019 until the day of the bank’s collapse
The failure of Silicon Valley Bank raised significant questions about
the Fed’s bank supervision and its failure to act more forcefully on
problems it had previously identified.
The Federal Reserve of San Francisco, a regional entity that supervised
Silicon Valley Bank, slapped the bank with six citations, including a
note on the bank's failure to retain enough accessible cash for a
potential downturn.
Back in JP Morgan CEO Jamie Dimon speaking
at a conference sponsored by AllianceBernstein Holdings, said
that the U.S. economy is facing a "hurricane" as the Federal Reserve
continues its process of normalizing interest rates. "Right now, it's kind of sunny, things are doing fine,"
Dimon told the
conference. "Everyone thinks the Fed can handle this. That hurricane is
right out there down the road, coming our way. We just don't know if
it's a minor one or Superstorm Sandy... or Andrew or something like
that. And you got to brace yourself."
reported by Steve Liesman, via CNBC and Brian Sozzi , via yahoo!Finance
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Forthcoming after all carnage and loss of capital in the crypto
space, the collapsing housing market, home valuation normalizing, and a
wealth of Wall Street ''companies'' trading at nose bleed levels, there
is the coming crisis of commercial real estate.
Corporate tenants are scaling back, higher interest rates
are hurting valuations and many property owners face looming debt
maturities that they struggle to refinance, all amid an unprecedentedly fast jump in the Federal Reserve’s key interest
rate and now a potential bank credit crunch.
Already, Brookfield Corp.
and Pacific Investment Management Co. have defaulted on office mortgages
in recent months, and there’s a looming wall of around $180 billion
of office mortgages coming due in 2023.
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California signals the hyper-inflation train may be ready to leave the station:
While the state grows about half of all the fruit and vegetables for the country, there are concerns that higher prices could hit next month and continue through the summer.
"For the farms that were flooded, this catastrophe hit at the worst possible time," said California’s Strawberry Commission President Rick Tomlinson in a statement. "Farmers had borrowed money to prepare the fields and were weeks away from beginning to harvest."
Even fields not underwater are a challenge to get to, Groot said.
Floodwater wiped out roads and bridges making acres and acres
unreachable by farm machinery. And farmworkers have been dispersed
because so many lost their homes to flooding.
reported by Hillary Andrews , yahoo!News via FOX News Weather
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While food and energy prices have declined from their sharply elevated levels following Russia’s invasion of Ukraine in early 2022, they remain higher than before the war, eroding people’s income and demand for imported goods.”
“Yet, while prices have fallen in international markets, they have frequently remained high at local level,
particularly in net food importing developing countries reflecting the
weakening of their currencies against the US dollar. As a result, food price inflation is still a serious concern in many countries, also because post-farm gate costs for shipping and processing remain subject to inflationary pressures.”
reported by By Keith Good, FarmDoc via AMIS , AgFax.com
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Layoffs in the Tech sector are over and the fallout boosted the stock price levels of all who announced their cost cutting strategies. The economy did not suffer from these calls, as demand for workers remain high and the balance sheets of workers continue to stay strong. As college grads and summer worker come online expect hiring to increase, with retirements draining the SSI trust funds.
REITs and commercial entities continue to pressure bank earnings and real estate pricing.
SHORTS: All REITs with East Coast & West Coast exposure; Regional Banks with East Coast & West Coast exposure; Energy gasoline service stocks Mobil/Exxon and others until August 2023.
LONGS:
