75% of Middle Class Americans Say Their Income Is Falling Behind Cost of Living 

  • Seventy-five percent of Americans with incomes between $30,000 and $100,000 say their income is falling behind inflation, according to a survey by Georgia-based financial services company Primerica. That’s up from 67 percent as recently as March, indicating a dramatic surge in the number of middle-class Americans feeling burdened by inflation.
  • An even larger share—77 percent—say they expect the economy to enter into a recession by the end of this year. Sixty-one percent of these middle-income Americans say they expect the economy to be worse off a year from now. Just 14 percent say they expect it to be better.

Source: breitbart.com

Ford Plans To Cut 8,000 Jobs To Help Fund EV Endeavors 

  • Ford is planning to cut up to 8,000 jobs over the next few weeks in order to boost profits ahead of their foray into the electric-vehicle market, according to Bloomberg, which cited people familiar with the plan.
  • The job cuts will be concentrated within Ford’s relatively Blue unit, which produces internal combustion engine vehicles, and will affect salaried operations throughout the company.

Source: zerohedge.com

BlackRock Is Breaking the Wrong Kind of Records

  • BlackRock Inc. is used to breaking records. The world’s largest asset manager was the first firm to break through $10 trillion of assets under management. But the bigger they are the harder they fall. And this year BlackRock chalked up another record: the largest amount of money lost by a single firm over a six-month period. In the first half of this year, it lost $1.7 trillion of clients’ money.

Source: bloomberg.com