XPost: alt.politics.democrats.d, alt.fan.rush-limbaugh, talk.politics.guns   
   XPost: soc.retirement   
   From: invest.woke.go.broke@disney.com   
      
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   > Very happy to see Swallwell fail after his immature ignorant behavior with a   
   Chink whore spy.   
   >   
   > Monkey Pox, right on time to give Democrats an excuse to cheat in the next   
   election.   
      
   Consumers' wallets are in for a world of hurt in the latter half   
   of 2022.   
      
   That's the takeaway from some of America's top corporate leaders.   
      
   It hints at significant pain ahead for the US economy, as costs   
   continue to rise and consumers feel pinched.   
      
   At Walmart, grocery shoppers are cutting back. AT&T customers   
   are paying their bills later than usual. Best Buy has seen a   
   dramatic slowdown in demand for electronics.   
      
   While unemployment remains at historic lows, and consumer   
   spending continues to grow, albeit at a slower pace, there are   
   troubling signs for the US economy in second quarter earnings   
   commentary.   
      
   In many cases, major corporations are painting a grim picture of   
   the economy's future.   
      
   Walmart sounded the alarm on Monday about its consumers no   
   longer being able to afford anything other than basic groceries.   
   "The increasing levels of food and fuel inflation are affecting   
   how customers spend," Walmart CEO Doug McMillon said in a   
   statement.   
      
   On Tuesday, Unilever, the parent company of Dove soap and Ben &   
   Jerry's, added to the picture. CEO Alan Jope said on a call with   
   analysts that "peak cost inflation" for the company will not   
   come till later this year, signaling that consumers will   
   continue to be faced with elevated pricing.   
      
   "The threat of recession is starting to impact consumer   
   confidence and change spending patterns and behaviors," Jope said   
      
   Then, on Wednesday, Best Buy jumped in, flagging a slowdown in   
   customers' interest in electronics.   
      
   "As high inflation has continued and consumer sentiment has   
   deteriorated, customer demand within the consumer electronics   
   industry has softened even further, leading to Q2 financial   
   results below the expectations we shared in May," said CEO Corie   
   Barry in the release.   
      
   Even companies like McDonald's and Costco — two places consumers   
   can typically count on for low prices — have started to hike   
   prices. Recently, a large number of McDonald's franchisees nixed   
   $1 drinks. The fact that Costco has hiked prices on chicken   
   bakes and sodas is a sign it isn't immune to inflation either.   
      
   Some consumers meanwhile are beginning to struggle to pay their   
   phone bills — AT&T said it's seeing an uptick in later payments   
   from customers.   
      
   It's not just retailers sounding the alarm. Social-media   
   companies and tech giants have been also impacted by the   
   expectation consumer spending could stall in the months ahead.   
   When businesses cut costs in anticipation of slower growth,   
   advertising spending — a major source of revenue for companies   
   like Snap and Meta — often gets scaled back.   
      
   Last week, Snap warned investors that it expects slower growth   
   in the months ahead for this very reason.   
      
   "The combination of macroeconomic headwinds, platform policy   
   changes and increased competition have limited the growth of   
   campaign budgets," Snap said in an investor letter.   
      
   Similarly, Meta, the parent company of Facebook, highlighted   
   rising inflation and a possible recession on the horizon as   
   challenges for its business.   
      
   Headline inflation hit an 8.6% year-over-year pace in July,   
   which is the fastest rate since 1981. And experts say that while   
   inflation may show some signs of having peaked, it's likely that   
   price increases are here to stay for the next few months.   
      
   And there's increasing evidence than pandemic savings are   
   beginning to run low for many. Credit card balances have risen   
   $71 billion over the past year and in April, the personal   
   savings rate fell to its lowest level since 2008. Corporate   
   commentary paired with a gloomier picture of Americans' finances   
   hints at a tough second half of the year for businesses and   
   consumers.   
      
   One piece of good news: Due to global supply chains finally   
      
   [continued in next message]   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)