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- Costco Just Got More Expensive...
Costco Just Got More Expensive...
Real Estate Cycles, Costco Is Raising Pricing, The Fed Is Manipulating Real Estate Data, And Troubling Sign For The Stock Market...
The Daily Ninja 7/11/24
Updates From The Economic Ninja
(7/10/2024)
๐ธ Costco's decision to hike membership fees for the first time since 2017 is a significant change that will impact every shopper.
๐ธ Costco is increasing its membership fee by $5 in the US and Canada, affecting about 52 million memberships.
๐ The timing of Costco's membership rate increase challenges the narrative of decreasing inflation, suggesting that the reality may be different from what the government claims.
๐ฐ Costco relies on membership fees to keep merchandise prices low, but its rival Sam's Club hiked its membership fee for the first time in nine years.
๐ฐ The cost of paying employees more at Costco will ultimately be passed down to the customers in the form of higher prices.
๐ฐ Costco is increasing the starting wage for service clerks and meat cutters to $19.50 per hour, a gain of 5.4% for the lowest earners.
๐ Inflation leads to companies raising prices, impacting consumers in the long run.
(7/10/2024)
๐ The Federal Reserve is manipulating real estate data to deceive people into thinking that home prices are at all-time highs, creating a fakeout in the market.
๐ฐ Despite the similarities in the number of homes sold in 2023 and 2008, the current situation is eerily reminiscent of the housing market collapse in 2008.
๐ The US housing market is a leading indicator for the broader economy, unlike the stock market which is the playground of the top 1%.
๐๏ธ Unlock a part of your mind by understanding why the next step is coming.
๐ The reported median sale price of homes hitting an all-time high at $397,954 is "100% an absolute lie" according to the speaker, who claims that the actual median and average home sales were much higher.
๐ People with low Financial IQ are reactionary and make investment decisions based on hot tips, leading to emotional and risky investments.
๐ฐ The median asking price for homes is falsely reported to have hit 409, showing a misleading increase in the real estate market.
๐ Most people are not going to be ready and won't qualify for loans, making the real estate crash in 2025 even worse than what's happening now.
(7/11/2024)
๐ The story from investorplace.com warns to mark your calendars for July 11th for potential stock market crash.
๐ The long-awaited inflation readings should offer some clarity into the Federal Reserve's path forward, with many on Wall Street dismissing any rate cuts possibly for the rest of the year.
๐ The Federal Reserve will lower rates before the election to create the illusion of economic improvement, causing short-lived rises in stock and housing prices.
๐ This week's CPI report may prove crucial to the central bank's monetary objectives heading into its next two policy.
๐ The meetings set for July 1st and September 18 are very important, as the Ninja does not believe a cut will be coming in July.
๐ "I believe you're going to see two rate cuts in August and September going into November."
๐ฐ "Bad news is good news in this market."
๐ "Remember nothing has changed, countries are walking away from the dollar, actively joining a campaign called The Bricks Nations building a new joint currency, buying gold hand over fist, and making new trade agreements."
Keep Crushing It!
-Ninja Out