It's The Economy Stupid!

By Robin Itzler

Editor's Note:  This is one of the commentaries selected from Robin's weekly newsletter Patriot Neighbors. Any cartoons appearing will have been added by me.  If you wish to get the full edition,   E-mail her at PatriotNeighbors@yahoo.com to get on her list, it's free.  RK 

 

Thank you, Democrats.  JPMorgan boosts chances of a recession in the United States by the end of the year to 35 percent. Just last month, JPMorgan had the number at 25 percent. That’s a big jump for a 30-day period. Below is a sampling of recent layoff or closure announcements. Notice the wide variety of industries that are doing so well under the Harris/Biden administration (NOT!).

Axios (media) – The left-left-left media site announced on August 6 that 50 staff members would be laid off. CEO Jim VandeHei belched, “We’re making some difficult changes to adapt fast to a rapidly changing media landscape.”
Broadcasting & Cable (TV trade publication) – shutting down.
Big Lots (retail) – In June, Big Lots announced it would be closing 150 stores; however that number has since grown to 315. In California, 75 stores will be closing (30 in southern California). When all the closures are completed, there will only be 34 Big Lots stores in California.
Cisco (technology) – In February, the company laid off an estimated 4,000 employees. Last week, Reuters reported that thousands more (possibly another 4,000) might be let go soon.
Dell (technology) – In 2023, Dell cut 13,000 jobs. Due to a drop in personal computer sales, Dell just announced there will be another 12,500 in layoffs that started last week.
Geodis (global freight transport and logistics operator) – Recently announced facilities closing in Texas, Georgia and New York; along with job reductions at an Illinois operation, the company will be laying off 384 workers.
Intel (technology) – CEO Pat Gelsinger announced in early August that it would be reducing its workforce by 15 percent (15,000 employee positions). Layoffs are starting now and will be completed by the end of the year.
Multichannel News (TV trade publication) – Shutting down.
Optum (healthcare) – The United HealthGroup company is closing clinics in multiple states and laying off 524 employees across California.
Paramount Global (media entertainment) – Will cut its workforce by 15 percent in another round of layoffs focusing on communications, legal and technology.
Stellantis (automotive) – Is laying off 2,450 plant workers at its Warren, Michigan plant as it discontinues the popular Ram pickup truck (more economical version). The announcement came one day AFTER radicals Kamala Harris and Tim Walz spoke to United Auto Workers members. (Polls show that while the auto leadership is endorsing the Marxist duo, the rank-and-file membership will be voting for Trump.)
Stop & Shop (food retail) – This regional chain (mostly in the northeast) that started in 1892 will close 32 of its 400+ outlets by early November.
Texas Children’s Hospital (healthcare) – Reduced its staff by 5 percent, roughly 1,000 employees.
Willamette Falls Paper Company (paper) – announced on August 6 that it would be laying 158 out of the company's 223 total employees. The West Linn, Oregon company is one of the city’s largest employers.

Remember: the Consumer Price Index (CPI) excludes FOOD AND ENERGY! The FOOD INDEX rose 0.2 percent in July, the second straight month of rising prices.