This Week Upcoming Trading ( May 15, 2023 )
I would look into what is coming this week and what we need to keep an eye on.
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California Defaults on $18.5 Billion Dollar Debt
Many Californians don't know they are now responsible for the state’s nearly $20 billion federal loan default, which was taken out to address California’s unemployment fund deficit during the COVID pandemic. The reality of this responsibility came to light when the state ceased making payments on the loan. According to federal law, when a state defaults on a federal unemployment insurance loan, its businesses must repay the debt. The default is further exacerbated by the outdated IT system of California’s Employment and Development Department (EDD), which enabled more than $30 billion in fraudulent unemployment claims during the pandemic.
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Banks Continue To Go Under Is This An Opportunity?
With all these banks going under could this be an opportunity to shorten the banking sector?
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PacWest Bank Shares Sank 85%
PacWest tumbled 44% in late New York trading. The shares had slumped 28% on Tuesday as investors retreated from regional bank stocks following JPMorgan Chase & Co.’s deal on Monday for the failed First Republic Bank. PacWest has lost about 85% of its value since the beginning of March.
Sincerely
J.J. Portillo
Sponsor Try2bFunded
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Nightmare scenario may be coming
Something scary is developing in our stock market and most people are not aware of this. And also combined this with the possibility of more bank failures and we may not have to worry about recession, we may be looking at something far worse, a depression.
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Should You Buy Paper Gold or Real Gold?
In this video I will be talking to you on the pros and cons of buying physical gold versus paper gold. With the uncertainty of global geopolitics or what the future could bring goal is become very attractive to people trying to keep in their possession something that could be of value in case of an all-out global meltdown with our economics, power grids, Internet, and/or other items we use daily. Some people may be confused when it comes to paper gold or physical gold. Physical gold may provide a stronger safety net in case something going wrong in your country or globally.
Sincerely
J.J. Portillo
Sponsor Try2bFunded
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Are we in a Recession?
I will be talking about, are we in a Recession?
Official Recession Definition
During a recession, the economy struggles, people lose work, companies make fewer sales and the country’s overall economic output declines. The point where the economy officially falls into a recession depends on a variety of factors.
In 1974, economist Julius Shiskin came up with a few rules of thumb to define a recession: The most popular was two consecutive quarters of declining GDP. A healthy economy expands over time, so two quarters in a row of contracting output suggests there are serious underlying problems, according to Shiskin. This definition of a recession became a common standard over the years.
The National Bureau of Economic Research (NBER) is generally recognized as the authority that defines the starting and ending dates of U.S. recessions. NBER has its own definition of what constitutes a recession, namely “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”
The NBER’s definition is more flexible than Shiskin’s rule for determining what is a recession. For example, the coronavirus could potentially create a W-shaped recession, where the economy falls one quarter, starts to grow, then drops again in the future. This would not be a recession by Shiskin’s rules but could be under the NBER’s definition.
Sincerely
J.J. Portillo
Sponsor Try2bFunded
https://try2bfunded.com/
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