Posted on 09/09/2022 11:47:36 PM PDT by knighthawk
The CEO of a luxury furniture retailer has claimed it is 'crazy' to think the US economy is not in recession, as household wealth fell by a record $6.1 trillion in the second quarter.
'I don't know, people keep saying, are we going to be in a recession? We're in a recession,' said Gary Friedman, the chief executive of RH, formerly known as Restoration Hardware, in an investor call on Thursday.
'Anybody who thinks we're not in a recession is crazy. The housing market is in a recession, and it's just getting started. So it's probably going to be a difficult 12 to 18 months in our industry,' he said.
(Excerpt) Read more at dailymail.co.uk ...
* Joe opened the borders and allowed 4.9 million illegals to flood the country in less than 2 years.
** Joe Biden has locked up hundreds of Trump supporters for walking inside the US Capitol on Jan. 6
** Joe Biden has created the highest inflation rate in 40 years.
** Joe Biden’s policies caused record gas prices, the highest in US history.
** Joe Biden sent the FBI to storm the home of his opposition candidate.
** Joe Biden surrendered Afghanistan to the Taliban and gave them $80 billion in US arms.
** Joe Biden abandoned THOUSANDS of Americans when he fled Afghanistan.
** Joe Biden has sunk the country into recession and is destroying the US dollar.
Joe Biden is destroying the country. It’s likely on purpose.
But millions of those good ol’ Americans are ready to vote Democrat again and again.
Stooooopid.
I wonder how many of them are just like the PA voters that continue to vote rino.. year after year. Well it’s better than a dem, right? Wrong.
Allowing the gop to continue moving left is dangerous. Forced travel restriction, masking, vaccinations… these are never conservative. Neither is mail in ballots.
The dems did not lead us into that.. a Republican prez did. He also started the ball rolling on prison reforms, now we have public beheadings starting.
I ate a fabulous RH lunch in Napa last week—maybe the RH exec is a conservative.
Perhaps the most critical factor affecting votes is not inflation but joblessness. We are heading for a real recession, perhaps as Jamie Diamond says, “something worse” but the unemployment feature of that recession typically comes with a lag after initial indications such as stock market losses and inflation.
In this case the lag is been extended no doubt by Covid giveaways and carrying on with plastic but soon, by my guess just after Christmas, the unemployment numbers will come in and look very grim.
At that point voter sentiment will really be affected but that no doubt will sadly be after the midterm elections.
Outfits like RH are a leading indicator of consumer attitudes.
If I am concerned about my future economic position, the LAST thing I’m going to do is buy expensive new furniture.
Which means the average household took a $48K hit in its net worth that quarter... Can’t keep that up very long!
I’d say the ‘rats are in trouble this midterm.
Recession has been redefined to mean two consecutive quarters of economic decline when the Republicans control the House and the White House.
Demoncrats HATE AMERIVA....all you have to do is LISTEN to what they SAY, and WATCH what they do!! They want America BROUGHT DOWN to THIRD WORLD status!!
Recession, stagflation, headed to depression.
I suppose that’s really all that Communism has ever been about - tearing everyone else down to your level.
They say misery loves company. The Democrats appeal to “Reality TV” show watchers.
IMHO, the Roe SCOTUS decision is the only reason the Democrats are coming out to vote in this midterm election.
Otherwise, they would just not vote in their typical passive-aggressive style.
Never underestimate the stupidity of the US electorate!
You forgot Joe Biden allowed Russia to invade their neighbor and put the planet at risk of WWIII.
Little things.
I’m getting a second job right now. Though I own my house outright and am debt free, I need the cash to save for retirement and health insurance.
In about 8 months I intend to sell everything and get a new job in a new location.
‘Likely’...????
Joe Biden is destroying the country.
Yes he is he and his party think that Stalin Lenin and Hitler didn’t get the one party system done the right way.
The reason communism failed is people didn’t embrace it.
Jane Fonda
All fools think alike
Remember who is ultimately to blame. It is all the democrat party voters.
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