Biden BOOMM Baby
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Unemployment Rate Spikes in New Jobs Report, Defying Economist's Expectations
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Re: Biden BOOMM Baby
Kevin O'Leary warns chaos is about to begin for US economy: 'Wake up and smell the roses'
O'Leary Ventures chairman Kevin O'Leary is warning that the economic policies of the Biden administration are about to put a significant squeeze on small businesses.
The "Shark Tank" star joined "Fox & Friends" to warn that the month of September will usher in a chaotic time for the economy due to high interest rates.
"We've got the CHIPS and Science Act. Where's that money going? Behemoth giant companies in the S&P 500. The Inflation Reduction Act, another trillion not even printed yet. All going to big guys. Now, that's great. They represent 40% of the jobs in America, the S&P 500. Everybody knows the S&P 500 is the biggest index in the world. But 60% of America is small business. That's where 60% of the jobs come from. We've given nothing to them. And so they're struggling because the Fed is raising rates up to 5.5% in a matter of months."
Although the U.S. economy has seen some respite from record inflation, O'Leary has been warning in recent weeks that there is a "crisis emerging" for U.S. small businesses. O'Leary recently traveled to Capitol Hill to talk to "everybody" he could, cautioning about a liquidity crisis.
"If you're in the S&P 500, you have no trouble financing your business. You can't say that about small business anymore. The cost of capital has gone through the roof."
He said small business owners will be "cut off at the regional bank level."
"They're not lending. The loan books closed down. The rates that he pays for money have gone from 4-5% to 11-17%, and we're not talking about them. But you're going to hear a lot of people crying about this in the next few months."
Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: Biden BOOMM Baby
Kevin O'Leary warns chaos is about to begin for US economy: 'Wake up and smell the roses'
O'Leary Ventures chairman Kevin O'Leary is warning that the economic policies of the Biden administration are about to put a significant squeeze on small businesses.
The "Shark Tank" star joined "Fox & Friends" to warn that the month of September will usher in a chaotic time for the economy due to high interest rates.
"We've got the CHIPS and Science Act. Where's that money going? Behemoth giant companies in the S&P 500. The Inflation Reduction Act, another trillion not even printed yet. All going to big guys. Now, that's great. They represent 40% of the jobs in America, the S&P 500. Everybody knows the S&P 500 is the biggest index in the world. But 60% of America is small business. That's where 60% of the jobs come from. We've given nothing to them. And so they're struggling because the Fed is raising rates up to 5.5% in a matter of months."
Although the U.S. economy has seen some respite from record inflation, O'Leary has been warning in recent weeks that there is a "crisis emerging" for U.S. small businesses. O'Leary recently traveled to Capitol Hill to talk to "everybody" he could, cautioning about a liquidity crisis.
"We have a crisis emerging. … I'm talking about companies with five to 500 employees, which represent over 60% of our economy," O'Leary said.
"If you're in the S&P 500, you have no trouble financing your business. You can't say that about small business anymore. The cost of capital has gone through the roof."
US MORTGAGE RATES WILL CREATE ‘DIRE’ SITUATION FOR REAL ESTATE MARKET, EXPERT WARNS
He said small business owners will be "cut off at the regional bank level."
"They're not lending. The loan books closed down. The rates that he pays for money have gone from 4-5% to 11-17%, and we're not talking about them. But you're going to hear a lot of people crying about this in the next few months."
Poor poor Billy apparently life sucks in Mississippi
BIDEN BOOM babyComment
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Re: Biden BOOMM Baby
Kevin O'Leary warns chaos is about to begin for US economy: 'Wake up and smell the roses'
O'Leary Ventures chairman Kevin O'Leary is warning that the economic policies of the Biden administration are about to put a significant squeeze on small businesses.
The "Shark Tank" star joined "Fox & Friends" to warn that the month of September will usher in a chaotic time for the economy due to high interest rates.
"We've got the CHIPS and Science Act. Where's that money going? Behemoth giant companies in the S&P 500. The Inflation Reduction Act, another trillion not even printed yet. All going to big guys. Now, that's great. They represent 40% of the jobs in America, the S&P 500. Everybody knows the S&P 500 is the biggest index in the world. But 60% of America is small business. That's where 60% of the jobs come from. We've given nothing to them. And so they're struggling because the Fed is raising rates up to 5.5% in a matter of months."
Although the U.S. economy has seen some respite from record inflation, O'Leary has been warning in recent weeks that there is a "crisis emerging" for U.S. small businesses. O'Leary recently traveled to Capitol Hill to talk to "everybody" he could, cautioning about a liquidity crisis.
"We have a crisis emerging. … I'm talking about companies with five to 500 employees, which represent over 60% of our economy," O'Leary said.
"If you're in the S&P 500, you have no trouble financing your business. You can't say that about small business anymore. The cost of capital has gone through the roof."
US MORTGAGE RATES WILL CREATE ‘DIRE’ SITUATION FOR REAL ESTATE MARKET, EXPERT WARNS
He said small business owners will be "cut off at the regional bank level."
"They're not lending. The loan books closed down. The rates that he pays for money have gone from 4-5% to 11-17%, and we're not talking about them. But you're going to hear a lot of people crying about this in the next few months."
Is this the same guy who lost a fortune in crypto? Yes indeedy, it is.
His predictions are just about as good as yours, Billy.
O'Leary is a schmuck.Comment
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Re: Biden BOOMM Baby
You try so hard to avoid any substantive conversation. But you never get it right.
Kevin O'Leary net worth is estimated at about $400 million.
O'Leary, a writer, entrepreneur, and TV personality from Montreal, Canada, is now among the world's wealthiest people because of his involvement in the formation of SoftKey and the O'Leary Fund.
His appearances on business reality programs like "Shark Tank" have also contributed to his success.
We take a detailed look at Kevin O'Leary net worth and various business ventures.
Kevin O'''Leary Net Worth: Business Ventures, Income, and CareerAdversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: Biden BOOMM Baby
Here's the point that O'Leiry was making.
- 60% of all businesses are small businesses.
- Interest rates are so high that it's hurting small businesses
- Banks are now forced to be more "liquid" and as a result, they can't loan money to small businesses.
It doesn't take a genius to figure it out.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: Biden BOOMM Baby
You try so hard to avoid any substantive conversation. But you never get it right.
Kevin O'Leary net worth is estimated at about $400 million.
O'Leary, a writer, entrepreneur, and TV personality from Montreal, Canada, is now among the world's wealthiest people because of his involvement in the formation of SoftKey and the O'Leary Fund.
His appearances on business reality programs like "Shark Tank" have also contributed to his success.
We take a detailed look at Kevin O'Leary net worth and various business ventures.
Kevin O'''Leary Net Worth: Business Ventures, Income, and Career
Exactly which part did I get wrong? He lost 15 million dollars. That is true.
He's a schmuck. That is true.Comment
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Re: Biden BOOMM Baby
a.) You don't really believe in them
or
b.) You can't afford them.
We all know that you'd be shouting from the rooftop if you owned either.
Do you at least recycle? lolAdversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: Biden BOOMM Baby
I see. I asked in another thread but I'll ask again here. Why don't you own an EV or solar panels? I suspect that it's because:
a.) You don't really believe in them
or
b.) You can't afford them.
We all know that you'd be shouting from the rooftop if you owned either.
Do you at least recycle? lolComment
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Re: Biden BOOMM Baby
I think we have a revelation by Mr. Copier Addict? Does this mean that you're against battery powered cars and that's why you drive a combustible engine vehicle? That's breaking news.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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