Posted on 09/10/2022 11:50:50 AM PDT by ChicagoConservative27
Back in July, Bank of America hired Michael Gapen as its chief U.S. economist, and the former Barclays exec began his tenure with a gutsy call, arguing a “mild recession” would hit the U.S. by the end of the year.
Before Gapen’s hiring, Bank of America’s economists had refrained from using the R-word, even if many of their peers weren’t so shy. But Gapen highlighted weaker-than-expected services spending, fading fiscal support, persistent inflation, and rising interest rates as his evidence for a more bearish outlook.
On Friday, however, Gapen and his team of economists said the situation has changed over the past few months.
(Excerpt) Read more at fortune.com ...
Right before November elections. Things that make you go...hmmmm!
Oh. It’s the Biden economy now…and it’s strong too. Wow there’s a relief.
...kind of like the falling gas prices...people are easily manipulated.
Momentum?
My retirement funds would beg to differ.
the economy here is basically referring to the price of gas.
I knew this would happen once the politicians had everyone using “recreational” drugs. You can sell the idiots anything. That “momentum” is created by the far left “media” with their fake news.
Yes, forget about your real-life struggles. Our newly adjusted figures say everything is hunky-dory.
Oh okay then. I feel so much better with sunshine pumped up m..................
>>.kind of like the falling gas prices...people are easily manipulated.<<
Well in defense of people, folks just want to go to work, raise their kids, go on vacation every now and again and be left alone.
People never expected a deep state and a federal behemoth to begin pressing down on political opposition. This is crazy stuff. Like we’re cast members in a Tom Clancy flick.
Satan is working as usual. His hand supports the Left and its agents.
We were never promised an easy life. Our prayers and our active work against the evil around us are more needed than ever.
I can’t predict the severity or lack of same in the recession as we work through it, but the guy makes sense otherwise.
This is a very familiar reaction to this part of the economic cycle. People are over-pessimistic early on, they’ve done such a good job of telling themselves how horrible everything is going to be they want it to be horrible so they will be right and can wallow in it.
There are many possible degrees of outcome depending on things that can’t be predicted right now. But in the trenches everyone agrees it’s Doooom.
It’s not doom, it’s a normal garden variety part of the cycle with some wild cards due to Covid after-effects, stupid energy policy and a war.
My former 401K is now a 201K, gas prices are astronomically high, food prices higher if the food is on the shelf and this is a recovery????
It’s not Monday yet...
The Misery Index, the National Debt Clock and The Doomsday Clock all beg to differ...
https://inflationdata.com/articles/misery-index/#Misery
https://thebulletin.org/doomsday-clock/current-time/
bwahaha!!
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