**Summary:**
In this video, Task discusses the recent data coming out of the United States, highlighting various key economic indicators such as jobless claims, business conditions, employment, new orders, and prices. He emphasizes that while the numbers may not be horrific, they indicate a concerning trend of economic slowdown, particularly in sectors like manufacturing, banking, and retail. Task points out that despite discussions about financial manipulation or evolution, businesses are showing signs of being unable to escape the impact of the business cycle. He concludes by mentioning concerns in the real estate sector, citing examples like new construction in Boise, Idaho, where a significant portion of newly built houses need immediate discounts.

**Detailed Article:**
Task's discussion revolves around the recent economic data from the United States, centering on indicators that provide insights into the overall state of the economy. He starts by addressing jobless claims, highlighting figures related to initial claims, four-week averages, and continuing jobless claims. Despite not being deemed horrific, these numbers point towards a consistent downward trend in the job market.

Moving on, Task delves into the Philadelphia Fed survey, focusing on business conditions, CapEx, employment expectations, and new orders. The data indicates declines in various key metrics, raising concerns about the performance of businesses in the Mid-Atlantic region. Task also brings attention to the impact of industrial commodities on inflation, citing a drop in prices paid as reflective of the broader economic landscape.

Task then transitions to discussing the broader economic equity landscape, pointing out challenges faced by industries like manufacturing, banking, and retail. He mentions the disappointing Q2 numbers from banks and expresses anticipation for the retail sector's performance, particularly referencing reports from major retailers like Target and Walmart. Task underscores the importance of monitoring these entities, along with businesses like Home Depot, to gauge the overall health of the economy.

Furthermore, Task emphasizes the inability to evade the business cycle, despite assertions by some about financial manipulation or evolution shaping economic trends. He uses the example of the real estate sector, highlighting concerns in regions like Boise, Idaho, where a significant portion of newly constructed houses require immediate discounts. This serves as a warning sign for potential broader implications within the real estate market.

In conclusion, Task paints a picture of a US economy facing headwinds across various sectors, with indicators pointing towards a slowdown and challenges ahead. By dissecting key economic data and providing real-world examples, Task offers a sobering analysis of the current economic landscape, urging caution and vigilance in monitoring unfolding developments.

We are in for some pain that’s for sure. The numbers haven’t been good for a while but they keep trying to prop it up. The house of cards will crumble eventually, just how quickly is the question.  

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friend one question each state has its own federal reserve or is there a single one that manages all the states of the US

You have said well 8n this video and you were able to touch some key points there especially about the job aspect 

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I think the economy has not recovered from the prolonged lockdowns. The earning reports of the retail stores will probably tell us a lot and I wonder if there will be that many new orders when there is still inventory left.

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