Economic Collapse News – Foxconn No Plan To Restart Operations! CAT Sales Crash 11%, Fed Repo Shock (Video)
Economic Collapse News – Foxconn No Plan To Restart Operations! CAT Sales Crash 11%, Fed Repo Shock Video by Silver Report
We have a lot for you today the big new’s is Foxconn came out and confronted a report that they were planning to restart operation’s or already had. They only have 10% of staff doing core operations and planning. They stated they have no plan to restart operations and didn’t give much else. We covered previously the supply chain problems due to the shutdown.
CAT reported their sales declined across all regions. The largest decline was sales for North America which declined 11% This was before and supply chain disruptions. The auto loans are turning sour as well, in particular, the subprime auto loans. Serious Auto loan delinquency jumps to an all-time record high along with the stock market. And the repo market may be in for some trouble as the Fed announced they are going to be reducing their liquidity provision to the banking system. The stock market might throw a tantrum as even Powell acknowledges QE is going to be the new normal.