Wall Street suffered its worst day of 2023 as Walmart and Home Depot sounded alarm bells over inflation’s effect on consumer spending in the recent quarter. CNBC’s Ron Insana has more on what this means for possible interest rate hikes and the broader economy.
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#NBCNews #StockMarket #HomeDepot
Covid killed more people than they are saying and corporate greed has caused inflation sickening no more Wall Street bailouts close the casino
SPXS
SPDN
let’s go
A huge problem is that corporations are gouging the consumers, we all know someone is lining their pockets off this hysteria.
💯
Why are they gouging? You think greed, you don’t understand. Same thing happened during Carter’s presidency. Biden’s economy is much worse.
Absolutely, they fed says inflation rose 8.5 %. After gas prices came down for awhile now and they will keep going down prices are not going down. the corporations are squeezing every cent they can get because they had to raise wages to employ and not enough BTW. Simple items like small can of vienna sausage which is pretty much little canned hot dogs was 2 for 1.00 3 years ago and they are .95 cents a can. that is not 8.5%. that is almost 100% and none of these corporations have raised wages even close to 95% in the last 3 years. Most have not even raised them 10%..
@monmixer Absolutely! Every time I hear the official “inflation rate” I laugh. Everything has gone up more than 7% And shrinkflation is real.
Straight facts I guarantee if we ever all stop buying everything they would drop prices immediately
It’s ridiculous how there claiming jobs, yes signs are up, but none of these places are hiring. And the jobs the government is talking about aren’t the kind of jobs to provide for a single, let alone a family.
Lol Home Depot has had “hiring” signs up at my local site for months . Yet when I applied they took a month to offer me a position after my interview saying “hey there are you still interested?” ….. Sorry no I have bills to pay I found a better job that same day they interviewed me ! Not to mention they only offer part time , nobody can live off of that on minimum wage . It wouldn’t even cover my rent .
Inflation and thieves, Biden did that.
You have no clue.
It means the stock market is on sale so its time to buy boat loads of stocks right now.
Nope… High yield savings and CD
Yeah, it was not the decade of low interest rates robbing social security and Medicare and hard working savers that was the problem, after the banks destroyed the economy with crap mortgage scams.
That cheap money inflated the value of stocks in companies that never even showed a year of profits. It is the “inflation” forcing you to actually pay interest on the common man money that is the problem – not!
. Absolute corporate GOP scam to take money from savers, and give it to spenders because that is a good thing and will reduce the deficit. OMG – like a Pootin’ speech – black is white, and up is down, and right is wrong, so long as we live high on the hog.
Honestly a lot of the employees are useless at home depot. Would explain why home depot has been pushing their app. Pretty much telling you go find it yourself. I mean I don’t even bother asking for help anymore. I research before i go in and find what I need with the app because nobody helps you.
Yeah Fed hike those rates! Great for those of us who are hoarding cash and not holding stock. My local bank just offered 5.25 for a 12 mo CD yippee
These declines come as no surprise whatsoever.
Let Jerome Powell run the money policy, Americans will be broke! The rich feels his negative, the poor runs to street corners. Meanwhile, China is damned mean and old joe has no clue but cries out his old threats. All his economy’s rosy reports are like fake news, as the W.Street shows the facts each day.
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Corporate Greed and Record profits during a pandemic and the PARASITES of PROFIT$ JACKING UP PRICES UNNECESSARILY ON TOP INFLATION. And that’s a crime that’s gone UNANSWERED. Shall we keep Pretending Wall Street won’t take the whole thing down??? Yet not ONE of them break a sweat. – Dump the Market It makes the few OBSCENELY richer, while endangering ALL of US. Keep Capitol Risk in the hands of the Actual companies. If a loan is made keep it Solely between the investor and THAT company alone.
Things are great – just ask the WH!
America will probably never recover from 4 years of Trump non-presidential stupidty and arrogance. The trickle down effects just aren’t going away soon. 😪🙄
@gail hasler Geriatric Joe and his woke administration is definitely finishing America off.
It doesn’t make sense with low unemployment numbers when the amount of Homelessness is Huge nationwide.
Exactly. They’re liars
It absolutely boils down to both corporate greed and the greed/spending practices of average Americans. They have no idea the difference between want and need.
This is still because of corporate greed and companies are lying about the jobs, at least in Canada..there are no jobs!
When we stop spending, they’ll drop prices….
I wish more of the brainwashed people would wake up from their deep programming and realise this.
Agreed
That’s exactly how it works.
But Americans are just as greedy as their corporations and want want want having no idea about the difference between want and need.
Just think of it as a consumer strike. They took total advantage of covid. When the government was giving money to the Americans suddenly our big corporate companies got greedy. So I don’t feel sorry for them at all.. t.
Here comes the Biden recession!
Congratz Democrats for ruining the country
And they told us it was Russia’s economy that was collapsing.
America deserves what’s coming. Time to eat the rich.
Lower unemployment doesn’t mean much if people aren’t being paid enough to live on.
Haven’t people been saying that for half a century now? And one party always fighting any minimum wage increases.
Both companies run by Rightwing conservative religious nut jobs.
Do tell.
Tell us who their political contributions gave gone to.
Trump? DeSantos?(I know;DeSantos)
Both liars
You have to be completely ignorant of economics on even the most basic level to shop at WalMart. Every $1000 you spend there results in a $0.45 decrease in your personal income. A 30% decline in competition. A 3% increase in Chinese wealth and an overall loss of US jobs.
Yep, only the truly dumb shop at WalMart, or any other similar company not using US goods.
Cuz in Bidenamerica you can get more from the government than working.
So many jobs that pay nothing…
Sounds like a campaign slogan; “I promise you two jobs for every unemployed person”.
Too expensive to do anything now. Doing without. Stay humble.
Walmart and Home Depot are owned by the same people.
The richest family in America, who own more than 40% of all the money in America.
Are they single? I’d like to marry in that family lol
If all these corporate cocksuckers would raise our wages at the same rate as inflation this wouldn’t be a problem
No $#!£ Sherlock! This is the result of increasing prices. Businesses acting surprised 🤣
Home Depot sux Deez nuts
BOTTOM LINE:
Greedy corporations are experiencing record profits because of overly unnecessary price hikes. Price hikes which are now going to force consumers to trim their budgets and cut spending. And furthermore cause an economic slow down.
ALL BECAUSE GREEDY CORPORATIONS DO ALL THEY CAN TO SQUEEZE EVERY PENNY FROM THE CONSUMER.
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When has the market ever been good under Biden he projects instability
Thats what greed will do for ya. Retailers gouging consumers during difficult times will result in consumers buckling down on spending to only basic needs and putting off spending on non-critical projects until rates are lower, fuel prices come down and wages reflect the current market rate. You don’t have to be a Walton to understand how supply and demand works. When a box of rubber gloves is $36 dollars, those that have ammo cans full of cash and no debt will just wait it out.
The jobs that are open aren’t jobs that you can support a family with. Part time hours with no benefits, something that would benefit a high school kid living with parents. You don’t need a PHD to figure that out.
Have they ever been? Jobs in most types of infrastructure will do that but Americans are lazy and want sit down jobs.😏
F these woket*rd companies
Amazing. Even the brain washed get fed up with corporate greed.
Europeans are protected from these volatilities, but they don’t have REPUBLICANISM. 🙄🙄
You mean the Mexican front companies known as…?
0:24 They are lying. The upturn in their costs are due to their disregard for people’s privacy when they sold information to 3-party marketers. These stores, #HomeDepot and #Walmart are just passing those fines levied, back to us, the consumer, and pretending it’s due to inflation.
And Rich get richer while the poor get poorer . What else is new
Home Depot and Walmart will be fine. No one should worry about them.
But I thought you Highly educated galaxy brain geniuses just told me that this Biden economy is the strongest economy of all time? What the economy is so good we’ve got a shrinking GDP, companies are laying off tens of thousands of people, all the companies are screaming that business is slowing down, the feds are raising interest rates and the housing market slowing down. I thought the adults were back in charge but this seems like a bunch of petulant children.
Ohhhh so YOUR “problem” is high interest rate, not the historic profits corporations been getting since the inflation started.
Walmart has gotten too expensive. No savings there, anymore.
Price gouging = lower consumer spending. Everyone is tightening their belts, it’s a no brainer.
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I’m suprised we are barreling towards 70s levels of stagflation with such excitement. They are sending this message of “go back to the office and put more money into the local economy” while also saying “we hope you lose your jobs and stop putting money into the economy.” As usual, the employment numbers are a flat out lie with people considered employed when they have gone from 40 hours a week down to 10. If I could survive on being a waitress in a 80% empty restaurant 18 hours a week or handing out samples at Costco those job options would be great. Corporate jobs are laying people off in droves, offering salaries that are 30k less than people are qualified for when the cost of goods is barely manageable and some people are spending 50% of their income on rent. Sure, it’s trendy for everyone to hate on Corporate America (rightfully so, they are ruining American lives with greed and overworking people to death) but when they lose all their jobs, sell their homes, flood the housing market and drive prices way down, people go underwater on their mortgage, their corporations close or merge or move to new markets and lay off more workers…Then people see how much we need them to keep this whole rat race we call an economy going. The capitalist system in this country is totally screwed, but the reality is seeing Corporate level executives and experienced workers at a senior level leaving the workforce in droves should set off alarm bells because the companies they run employ everyone else. If feds keep hiking rates this fast without giving time in between to see the consequences we will end up in a hole so deep it will take a decade to get out of, and if we lapse on the budget and get a credit downgrade in June that will take it to a whole new level of disaster. Home Depot and Walmart are just the tip of the Titanic scraping across a coral reef. Brace yourself for the iceberg.
Get ready for a very bad next 7-10 years.
Unemployment numbers are deceptive. If you are not enrolled or have hit the end of your benefits, then you are not counted in the statistics. Correct me if I am wrong.
Stop buying their products and go elsewhere. These corporations don’t deserve our money when they want to sell a majority of products that are mainly from china.
Not wallstreet.. no one wants to shop Corporate Republicans Home Depot. It isn’t the economy, its the majority of citizens not wanting to shop republican corporations since they like to price gouge Americans..
Home Depot gave me a $0.24 cent raise after my annual evaluation and I said I better get my butt into college.
Hello,People Can’t afford the High prices!!!!!
Obidens bunch sits on trillions of Americas money as Joe gives hundreds of billions to foreign wars and coincidentally America goes bankrupt as NBC blames the Republicans and Trump. NBC loves JOBAMA!
Inflation cause prices to rise so fast that people can not afford to buy what they used to buy with the same amount of money. Today we grab three bags of groceries and your weekly pay check stay at the market.
Totally predictable.
People bought so much extra during housing “boom” and covid. Not sustainable levels. It’ll even out, that’s all. 🤷♀️
Big deal?
Buy low sell high. Lol.
Middle class is hibernating in self preservation. We’ve lost hope of things getting better!
F walmart
Prices are cheap. Building a cabin to live in for only $6k. It’s not small. Lumber went down. I petty those who spent $300k on a small home..
FED creates the inflation and makes people poorer and poorer. Market adjusts itself by supply and demand and does not need FED to manipulate it. FED just needs to stop printing and cut spending. Credit cards have limit!! Don’t give away free money you do not have!
I just watched an old movie, maybe a few decades old. Their standard fee of mowing lawn was $1.50. A small house for family of 3 was $795.00. How much is it now?!
Want prices to drop fast? Do not buy anything for awile, fast, We do not need all this stuff to be honest. DO NOT NEED ANY OF IT.
If they lowered their prices they wouldn’t need to be concerned about not having customers.
The reason they will lose customers is because they are charging too much.
Get real. What else can the reason be. If people can’t afford it, they won’t buy it.
I was meeting a friend in Bed Bath N Beyond on Feb 23 2023 around 4:15pm. The parking lot was empty save… say …6 cars… guessing it can hold 100. (thanks Google satellite Map)
Michaels is across the same parking lot. Never seen that before.
BBnB had about 3 shoppers ( that I saw). It was the most eerie feeling to see that. I guess that could be a confirmation of this NBC story.