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 ...
We are screwed....we are so screwed!
Whatever Cramer says, doing the opposite will probably continue to be the better choice.
Cue theme music from “the Waltons.”
We are so screwed.
L
Based on Kramer’s record, I’d agree.
Doc Ricketts paid five cents per frog in Cannery Row...
Jim Cramer could not find his own junk if he had a map to it.
“I am still waiting for that recession we were told would come this year.”
Just deflate the numbers to get “real” numbers and you will see the recession is right under your nose.
We are so screwed.
Cramer reminds me of the old trial attorney joke:
“If you have the law on your side, use the law.
If you have the facts on your side, use the facts.
If you have neither the law nor the facts on your side, pound the table.”
Cramer is a table pounder and arm waver—laughable clown.
Call it the Costanza Trade, because George did well in life whenever he did the opposite.
How this guy still has a job is beyond me..
Darn, here comrs a really bad recession.
https://www.crameretfs.com/sjim
reverse cramer etf
If I was standing outside,under a dark-cloudy sky with frog-choking rain pouring down and Jim Cramer said, “It’s raining,” I would put away my raincoat and umbrella!!
Disney saw the recession coming months ago, and stared laying of thousands of workers in preparation. I think they know a little about economic forecasting.
The boy just doesn’t know what the word embarrassment means.
I am seeing that complaint more and more these days.
But insurance companies seem to have plenty of cash to build sports venues! Maddening!
If it happens it will be the most anticipated recession in history.
Meanwhile, the NAZ is up over 30% from its Oct 22 low.
Yeah, many will be disappointed.
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