• Scoops
  • Posts
  • Daily Scoop 22-6-14

Daily Scoop 22-6-14

👋 Your Tuesday Scoops - Coinbase slashes staff & PG&E looks to go green

Today's Scoop:Gloom

Love your daily scoops? Support the mission by recruiting a friend and unlocking premium content!  

Big Picture

  1. Basically everything continues to get more expensive, quickly.

  2. Businesses are feeling significant pain from rising supply costs.

  3. Small businesses are struggling to fill available positions.

The Market: 

⬇️

-0.4%

S&P 500: 3,735.48

1Mo:

-7% 

| 1Yr:

-12%

 

| 5Yr: 

+54%

Markets oscillated around the year's lowest point today as investors continued to digest the inflation data.

Costs for consumers and businesses have continued to surge

, driving more pessimism about the economy.

The May Consumer Price Index report showed

prices for consumer goods have risen at the fastest rate in over forty years

. Inflation is

most serious across food and fuel

. Groceries are almost 12% more expensive than a year ago, the most significant one-year jump since 1979. Gas prices are at all-time highs, nearly 50% higher than a year ago.

Today, the Bureau of Labor Statistics released data for the May Producer Price Index, showing that the

costs of materials up the supply chain are rising at near-record rates

. Prices for things businesses spend money on are 10.8% higher than a year ago.

The National Federation of Independent Business reported that

small business optimism fell to a nearly 50-year low

as businesses battle higher costs and struggle to fill roles. More than 90% of businesses trying to fill positions reported few or no qualified applicants.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Coinbase

-

American Airlines

PG&E

Adobe's

Stitch Fix

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

For many of us, the word

recession

means economic crisis. The last two recessions were the most severe economic disasters of the last half-century. In 2008, the global financial system collapsed. In 2020, the global economy was completely shut down.

Not every recession is a financial crisis

. Recessions are a natural part of the economic cycle. The economy grows, slows, and contracts. We're in unprecedented times, so it's hard to say what comes next, but the financial commentators aren't necessarily talking about an impending collapse. A

recession

can be defined as two quarters of less economic production (

GDP

) than the previous. The first quarter was already a

contraction

. If this current quarter is also negative, we're already in a recession. Keep in mind that

unemployment

is about as low as economists think it can go, there are two available jobs for every unemployed worker, and corporate profits have never been stronger. No one knows exactly how

inflation

will affect growth, so uncertainty breeds

volatility

.

Make sure your inbox doesn't hide your Scoops

To prevent our emails from getting moved to your promotions or spam:

Gmail

: Move the Scoop to your "Primary" inbox:

  • On Mobile: Within this email, select the dots (...) in the top right of your screen. Select "Move to" & "Primary". If it's not there, then your mailbox isn't segmented.

  • On Desktop: Within your inbox, drag & drop this email into the "Primary" tab at the top left.

Apple

: Select the Scoops email at the top. Choose "Add to VIP"

You can find instructions here for all other email clients:

💙 Share the scoop!

1. Share your unique link with friends & coworkers (forward or copy)

2. When they sign up you unlock exclusive rewards

3. Keep on sharing to unlock more rewards

rewards

Forward your unique link:

You have made referrals

Reply

or to participate.