

https://www.cnbc.com/2025/11/06/retail-holiday-hiring-to-hit-lowest-level-in-15-years-nrf.html
Retailers’ holiday hiring to hit lowest level since the Great Recession, says major industry trade group Published Thu, Nov 6 20252:48 PM EST
-Holiday hiring by retailers is expected to fall to its lowest level in at least 15 years, the National Retail Federation said Thursday. -The major industry group’s prediction offers the latest glimpse into the jobs market as the record government shutdown stretches on. -Even so, the NRF expects holiday spending to hit a record of between $1.1 trillion to $1.2 trillion from Nov. 1 through Dec. 31, the first time the total would top $1 trillion.
Somehow, I don’t think those expectations are going to be met.




https://www.cnbc.com/2025/11/07/affirm-government-shutdown-shopping.html
Affirm CEO says furloughed federal employees are starting to lose interest in shopping
-Affirm CEO Max Levchin told CNBC that some federal workers impacted by the government shutdown are losing interest in shopping. -The federal funding lapse, which began Oct. 1, is the longest in U.S. history and has halted work across agencies. -Levchin’s comments followed a fiscal first-quarter earnings report from the buy now, pay later firm that blew past Wall Street’s estimates.
I can’t possibly imagine why people who aren’t getting paid have decided to cut back on the shopping.
In other news, a few of you caught the ridiculous comments coming out of OpenAI about getting backstopped by the government. This is a good rundown of the latest financial AI news:
www.ianwelsh.net/ai-bubble-burry-altman-friar-huang-karp
Did Burry, Altman, Friar, Huang, Karp and Sacks Just Pop the AI Bubble?