Posted on 06/25/2022 9:54:46 AM PDT by Browns Ultra Fan
What’s the Wall Street Consensus on when the Fed has to CUT rates?
Used to be stores were very busy at around 10AM where I live on a Saturday.. They are not anymore.
First things first: Always remember that Fed guidance is almost always misdirection.
As expected they will rigg the hell out the data to keep it from being declared a recession.
Recession is two negative GDP quarters in a row.
1Q2022 was negative
2Q2022 per GDPNow (the Fed) is zero
and recession fears are “overblown”? LOL
Job offers being withdrawn before respondents even report for work. Nope, no recession here.
Between the detour being closed, school being out and fuel prices the activity barometer that runs in front of the farm has just about slowed to a trickle. Even the speeds have slowed way down. Way down.
People around here started out poor as church mice. Now they are even more poor than that.
I’d say we are well within a recession already. Thing is, the labor force is relatively small and so it may not last long unless productivity just hits the dirt.
even the damn Ruffles potato chips at Costco are up significantly....
the govt workers may be doing just dandy.....and their retirees...
Think about this. During the last recession under Carter people used far less credit. In fact, there were not a ton of us using credit cards. The spending now is money that people don’t reall have so these numbers are far inflated. Given the same circumstances we would see the current spending at far less than it is.
That hourly average earnings figure is based on faux inflation statistics. We shouldn’t even look at GDP figures because they include government expenditures. It’s uncontrolled government spending that is digging the inflation hole bigger. The government does not make a product. Keynesian economists can go eff themselves. They never were right and never will be right.
Folks too busy counting all that money we allegedly have now.
It’s been stated to me that Silicon Valley hiring is completely frozen.
Once you’ve been through a few of these cycles, you learn to ignore what these clowns say.
this will be, IMO, the worst one in my lifetime. I’m 68. And it’s international.
And intentional.
Many items missing in that store today. I was at a Meijer. Plenty of ugly clothes made of that cheesy cheap stretchy crap that fuzzes up but low on many grocery items.
Prices on everything were so high that you could see people buying a few needs, bypassing wants, and heading for the exits.
There is going to be a lot of leftover stuff that nobody will buy in those stores.
These liars should be thrown in jail. False hope to millions once they get ravaged by recession without a safety net of easy credit to bail them out… lol
Hope soap ain’t one of the luxury items they’re skipping. 😂 We seemed to have a pretty good stock of items at our Smiths(kroger) store yesterday. Amazingly either myself or Mrs rktman can now carry a hundred dollars worth of groceries in the house one handed where, in the not to distant past, neither of us could even pick up a hundred dollars worth of groceries with a hand truck. 😬
A few weeks ago there was a meeting between Biden and Powell. It got very little press. After that meeting Biden, at his smarmy best, went out if his way to say that he would never interfere with the independence of the Fed. Immediately after that meeting, the price of oil started to drop. They made some kind of deal. Powell will pull the rug out from under the bears and pivot on rates sometime this summer.
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