Posted on 07/18/2023 4:22:56 PM PDT by bort
CNBC’s Jim Cramer told investors on Tuesday that he doesn’t think all the buzz about a recession being just around the corner holds much weight.
Looking at major earnings reports that have come out so far, Cramer said several players in key sectors — including homebuilding, banking, and travel and leisure — show that a recession might not be as inevitable as some may think.
“Those who cling to the notion that we’re about to enter recession must find all of these examples daunting, if not depressing,” Cramer said. “But earnings season has shown the recession thesis just doesn’t hold up under close scrutiny, even if so many so-called experts tell us otherwise.”
Cramer said homebuilders should have been hit hardest by the Federal Reserve’s tightening, but instead performed well due to the housing shortage. He then pointed to airlines, which he called part of a “roaring bull market,” as another indicator that the recession might not come. Cramer also noted that PepsiCo hasn’t seen a trade-down even as it has raised its prices.
“Suffice it to say, you’re not supposed to get this kind of action at this point in a rate hike cycle,” Cramer said. “When the Fed tightens, we expect it to crush the commerce and that just hasn’t really happened.”
(Excerpt) Read more at cnbc.com ...
Sell everything.
Buy FTX crypto from the next JP Morgan!
We are doomed!
Back in the 2010’s my Dad used to watch Cramer and make designs based on the opposite of what he said. He did well.
“Jim Cramer doesn’t see a recession on the horizon...”
Crap, we’re going down!
It's over.
That’s because we’re in one.
Whatever Cramer says, do the opposite. There is a website that tracks his buys and sells, if you do the opposite you win by a lot.
I operate a mid-sized law firm north of Baltimore with a working-class clientele. In the last 60 days, our firm has noticed that clients and potential clients have significantly less money to hire lawyers. Six months ago, clients didn’t blink at attorneys fees or even try to negotiate. We have far less business coming in and we are getting nickeled-and-dimed by everyone.
Our business is the canary in the coal mine, as we represent many working-class folks. Like clockwork, our business revenues decline a few months before the rest of the economy does the same, as eventually more affluent people get tapped out, as well. The COVID giveaways have largely ended, and downscale folks have maxed out their credit cards. And just wait for when the millenialls have to restart paying their student loans back in September.
That might be just what Jim Cramer is doing. This guy is either a circus clown or a pump-and-dump scammer. I can’t decide which.
Mr. Consistently Wrong giving more bad advice.
We're in more of a stagflation, Carter style. Our economy is barely growing but we have high inflation so our purchasing power have gone down the past three years.
Uh -oh.
Cramer bases this prediction on Housing, Airlines and Soda Pop!
Give him the Nobel in Economics! *SMIRK*
How about basing it on the price of FOOD and, oh, GASOLINE and, oh, RENT, and, oh, UTILITIES?
Buckle Up! It’s going to be a wild ride down into the abyss!
Well then, here it comes!
Dang...guaranteed Recession next week.
He’s The Mush
The Bear ain’t going anywhere
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