The unemployment rate in the USA was 3.5% in July. That’s the lowest number for the past 53 years.
That means the US economy is still strong and has the ability to grow in healthy forms. However, on the other side of the coin, the US economy is still in inflation mode.
Last month, the USA added 530,000 new non-farming jobs. That’s amazingly big numbers and it supports those FED officers who want to raise the rate more in September.
Another fear of a higher interest rate hit the market today. US stock markets retreated and the US Dollar index rallied.
China stopped all diplomatic talks with the USA today. Not a real surprise but who can be the winner of this game?
Well, eventually, both of them will be backed off anyway, Xi is a more clever man than Putin… At least, he can calculate what he can gain and lose…
The only victim in this geo-political game is the Taiwanese people, the businessman lost their trade with the China mainland and people were crying for fear…
Prada is having their luxury Trade show in Beijing. Yes, Beijing is in China, not Italy or France. China is in recession and many people are in pain with COVID lockdowns and bad economics. How much is that Prada bag anyway?
This is the biggest comedy event of the year 2022. Don’t forget, strangely enough, China’s still “ PEOPLE’S REPUBLIC OF CHINA” and the average salary is about US $25,000 a year.
A big question, who’s attending this Prada show anyway with all those LOCKDOWNS?
US Stock market was downed today. DJ Index ended at almost even. S&P 500 index was downed by 0.2% and the NASDAQ index was downed by 0.5%.