So the Biden administration whistled by the graveyard Tuesday celebrating their totally bogus named “inflation reduction act”. It was the dumbest political move you could draw up. A split screen of democrats whooping and partying on the lawn pretending they had cured inflation in a split screen of market falling 1300 points and a Chiron running across screen announcing inflation was 8.3% up in August over last year.
So yesterday Biden had another bs fright night to scare people into voting democrat. This time he linked Republicans with “a thread” that runs through what was done to the native Americans, slavery, Jim Crow, xenophobia, (I thought it was Roosevelt that put the Japanese in prison camps), Jim Crow, Islamophobia and now Republicans in congress opposing his big spending bills.
Well people still go to the grocery store and think “wtf” at the cash register. They see interest rates now 6% if want to buy house. They see their 401 retirement savings tanking as Biden brags. They “settled” the railroad threatened strike by raising average wages from 130k to 160k adding to the wage price spiral and fueling inflation.
Last night FedEx chairman predicted a worldwide deep recession. It’s a great bell weather for the economy. His stock tanked 20% and the market is gonna be down 5% or better in just this week. The safe bet is that it’s going lower and will retest the June lows or drop through them.
www.cnbc.com
The Atlanta Fed has an estimate about weekly of the current quarter’s GDP.. They started out in July for this quarter at 2.3% increase in gdp this quarter . Last week they were down to 1.6. This week it’s fallen to 0.5%. It looks totally possible this will be a third quarter in a row of negative GDP.
So yesterday Biden had another bs fright night to scare people into voting democrat. This time he linked Republicans with “a thread” that runs through what was done to the native Americans, slavery, Jim Crow, xenophobia, (I thought it was Roosevelt that put the Japanese in prison camps), Jim Crow, Islamophobia and now Republicans in congress opposing his big spending bills.
Well people still go to the grocery store and think “wtf” at the cash register. They see interest rates now 6% if want to buy house. They see their 401 retirement savings tanking as Biden brags. They “settled” the railroad threatened strike by raising average wages from 130k to 160k adding to the wage price spiral and fueling inflation.
Last night FedEx chairman predicted a worldwide deep recession. It’s a great bell weather for the economy. His stock tanked 20% and the market is gonna be down 5% or better in just this week. The safe bet is that it’s going lower and will retest the June lows or drop through them.
FedEx CEO says he expects the economy to enter a ‘worldwide recession’
The CEO's pessimism came after FedEx missed estimates on revenue and earnings in its first quarter.
The Atlanta Fed has an estimate about weekly of the current quarter’s GDP.. They started out in July for this quarter at 2.3% increase in gdp this quarter . Last week they were down to 1.6. This week it’s fallen to 0.5%. It looks totally possible this will be a third quarter in a row of negative GDP.
