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 ...
Has Cramer EVER gotten ANYTHING right? Asking for a friend....
Never! Do the opposite and you will make money.
Thank you for that insight. We are in a smallish ($100K) lawsuit right now and we’re using our local Small Town Lawyer and he is doing a bang-up job. I do not begrudge him the $ we’ve already paid him.
I would REALLY like to see some results, though! This has been going on since this past winter.
The beotch we’re suing is an EX family member with MAJOR gambling, lying, cheating, stealing problems, so it’s going to take a while to sort out. We gave her an easy out, but that doesn’t seem to be her, ‘style.’ Gotta make life as difficult as possible for all involved parties for some reason unknown to us.
*SHRUG*
God Bless You & Yours and I hope you can weather this Socialist Democrat induced storm.
I am still waiting for that recession we were told would come this year. Or is it next year? If it doesn’t happen a lot of people will be disappointed
didnt he also say its time to buy disney and bud ?
Get your money before the IRS does. I have two cases in Federal Tax Court right now dor gamblers as the IRS is going after them.
They must claim the income on the return and claim the losses as itemized deductions unless they are professional gamblers which is hard to prove.
Not good he is wrong about everything
Plus, the IRS just increased their collection agents by 400%.
.
The defining feature of Cramer is his strikeouts.
This is some bad freaking news!
Oh crap, Katie bar the door, the economy is about to CRASH!
The younger ones. And Gen Z. Apparently, Biden Administration found a loophole where you don't have to pay back it you've had loans for over 20 years. The first Millenial was born in 1980. So he's around 42 years old.
Recession imminent! 😏
We are already in a recession.
I actually did a Costanza for a month.
Things worked out pretty good.
Whatever Cramer says, do the opposite!
How hard is it to call the market 2 hrs after it’s closed?
Thanks for that information. Very useful, with credible analysis.
Add insurance to your list. My annual premiums for auto and homeowner went up 16% combined in the last 2 months. With no claims on either.
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