Biden now Surpasses Jimmy Carter as worst President ever in terms of handling Economy

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BREAKING: The Dow Jones Industrial Average just fell 500+ points in under 2 hours. This came after the ISM Manufacturing Index fell to 46.8, its lowest level since August 2023.

Construction spending fell 0.3% vs expectations of 0.2% growth and the ISM index has now fallen for a 4th consecutive month. Employment in this sector fell by a disastrous 6% while inventories declined for an 18th straight month

These are all leading indicators that the US is heading into a recession

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Recession Triggered: Payrolls Miss Huge, Up Just 114K As Soaring Unemployment Rate Activates "Sahm Rule" Recession​


In our payrolls preview last night we asked "just how bad will it get", and we got the answer moments ago when the BLS reported that in July, the US added just 114K payrolls, a huge miss to expectations of 175K and also a huge drop from the downward revised June print of 206K, now magically slashed to just 179K. This was the lowest print since December 2020
 

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this is massive news. dudes like Buffett don't just pull all their money out of the market and sit on the sidelines unless they know something ugly's coming soon

Buffett Calls The Top: Berkshire Quietly Dumps Half Its Apple Shares Amid Unprecedented Selling Spree​


When yesterday we said, when discussing Buffett's ongoing liquidation of his Bank of America stake, that "Berkshire's rising cash stockpiles merely reflect the firm's inability to find deals in today's overvalued and weak economic environment", little did we know just how accurate that would be, because fast-forwarding just one day later we find that far from only dumping Bank of America, the 93-year-old Omaha billionaire had been busy quietly dumping his most iconic holding in an unprecedented selling spree that sent Berkshire's cash pile soaring by a record $88 billion to an all time high $277 billion at the end of Q2.

Berkshire sold a net $75.5 billion worth of stock, the bulk of which we now know, came from Buffett's liquidation of half his Apple shares.

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At least we'll forget about how Israel started WW3 because the financial markets imploded and US national debt exceed $35 Trillion that same week

Market volatility aka VIX has more than doubled this morning to 62, and the markets aren't even open yet

Warren Buffett ain't no dummy
 

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At least we'll forget about how Israel started WW3 because the financial markets imploded and US national debt exceed $35 Trillion that same week

Market volatility aka VIX has more than doubled this morning to 62, and the markets aren't even open yet

Warren Buffett ain't no dummy
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