09-03-2023, 01:10 AM
(09-02-2023, 12:09 PM)Luvnit2 Wrote: https://www.foxnews.com/media/kevin-oleary-warns-chaos-begin-us-economy-wake-smell-roses
Kevin Oleary of Shark Tank fame is predicting major chaos due to a number of factors. I am a former business owner and know a lot of current business owners. The spike in interest rates is a major concern for them to grow or borrow money for needed repairs or new equipment. Small business owners represent 60% of our economy providing jobs and stability to the workforce.
This is a very good read.
I keep hearing we are headed for a soft landing, but if small commercial lending banks go belly up, that is a sign of turbulence to come in the financial sector. I also noticed the price of diesel fuel has gone up almost .40 a gallon since last month. Gasoline prices are starting to rise
again.https://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_nus_m.htm
The spike in diesel is critical. Restaurants, grocery stores and every business that depends on trucking to get their product will be forced to pass on a portion of these costs to consumers fueling higher inflation.
You have to manually insert the link above, but based on it, I am very concerned for the middle class and the lower income citizens who get impacted by these inflationary increases. I am lucky and inflation while very high does not cause me hardship. I spent 50 years working to be ready for these spikes.
Do you think we are heading for a recession. What do you hear from relatives, friends, small business owners about their ability to absorb inflation?
Are we heading for a recession?
Any sources other than Fox News?
