The election may cause a bit of a rally but at the end of the day if the Fed keeps hiking then it will likely be down in the 1st quarter. I think we are going to start seeing layoffs after the first of the year and the economy start to slow as well as earnings.
I'm of the opinion that the companies running rampant during the past few years will suffer.Originally Posted by NitroZ7
However, the fundamentally sound companies with better management will be just fine thru it.
US consumers do have funds. The question will become where they decided to spend it all.
And, yes, the idea is employment destruction ... they'll not be able to grip inflation otherwise.
There will be exception, like Florida. Our new influx of residents is mostly service consumers.
Odds are really high that we will see an outward migration of working poor, insufficient labor.
Florida is heavily tied to real estate. I can see some very bad things developing here. The multiplier effect in real estate is huge and when it works in reverse it is devastating. When new buyers see their payments when factoring in real estate taxes insurance and p&I in their interest payments they may think twice. I would be willing to bet I will be laying people off in the first quarter of next year.
We own our home debt-free & don't like the "payment" in respect to insurance and taxes.
Paired with the inability of insurance carriers to settle claims efficiently, or fairly, we're pissed.
Of course, it's what you get when business profitabilities overrule social responsibilities.
Between an impaired environment, traffic nightmares, rampant crime & prices ... untenable.
Yep. I watched a video the other night on Clevelands Millionaire Row. Lost in time. Same with Detroit. The only constant is change.
As a kid, Florida was an agriculture state. A few decades ago, it became a tourism state, agriculture followed.
Now it's construction, tourism and agriculture dragging in last ... and shrinking to clear room for subdivisions.
At this point, agriculture is a stepchild and won't enter the dog race again. Construction and tourism are drivers.
Given the economic driving forces, Florida will become exceeding expensive. Workers will become a big issue.
There's a silver lining ... even at 70, you're employable here, even in demand. Need cash, go work for awhile.
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