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Posted on 9/27/23 at 7:20 pm to Big_Sur
Do they know what a recession is?
Posted on 9/27/23 at 7:36 pm to Big_Sur
Lololololololol
Hope they're right.
They won't be. But here's hoping.
Hope they're right.
They won't be. But here's hoping.
Posted on 9/27/23 at 7:37 pm to Big_Sur
quote:
Bank of America: “We won’t have a recession"
They don't want you holding all of your money in cash so of course "everything is going to be just fine".
Posted on 9/27/23 at 7:42 pm to BuckyCheese
Posted on 9/27/23 at 7:44 pm to Big_Sur
quote:
Bank of America: “””””“We””””” won’t have a recession"
Posted on 9/27/23 at 7:57 pm to Big_Sur
Must have got his marching orders from the liberals to release this statement.
Let's be real. Nobody knows what the frick the economy is going to do. The country is in shambles
Let's be real. Nobody knows what the frick the economy is going to do. The country is in shambles
Posted on 9/27/23 at 8:03 pm to Bob Sacamano
quote:
He’s a democrat. All you need to know
Correct he is fowllowing his DNC handlers direction. BofA escaped the CFPB’s wrath but they hammer Wells Fargo because they are Republican leaning.
This post was edited on 9/27/23 at 8:04 pm
Posted on 9/27/23 at 8:09 pm to Big_Sur
We have fully embraced a "nobody fails" culture.
Posted on 9/27/23 at 8:11 pm to WestCoastAg
quote:
also known as decreasing
Cool we went from insane to slightly less insane. fricking win bro.
Posted on 9/27/23 at 8:15 pm to Burt Orangello
quote:
And all that consumer spending is being funded by what?
Debt.
People's behavior has remained largely unchanged and they're bridging the gap with consumer debt.
Reports are that people under 30 are living at home with their parents in much greater multitudes now. That gives them more disposable income and they are fueling the economy.
Debt is increasing, but I think that’s more a product of inflation hitting people living in the margins and everyone using credit cards now for rewards instead of cash, checks, etc.
I’ve heard that we are going into a recession for two years now. Will be interesting to see what happens.
Posted on 9/27/23 at 8:19 pm to Big_Sur
Our land development group disagrees…..
Posted on 9/27/23 at 8:31 pm to Big_Sur
We won’t have a “recession,” because we’ll keep changing the definition.
Posted on 9/27/23 at 8:53 pm to Big_Sur
quote:
Bank of America: “We won’t have a recession"
What he meant was "we, the executives at Bank of America, make enough money that we won't feel the recession therefore we won't have one."
Posted on 9/27/23 at 9:18 pm to McLemore
quote:
We won’t have a “recession,” because we’ll keep changing the definition.
Let’s stick with the two quarters of negative real GDP. I’ll give you that one.
In that case, and by that definition, the economy is doing pretty well. Real GDP has grown between 2-3.2% annualized in each quarter since that recession in 2022, and its likely going to be north of 3% for the 3rd quarter of 2023 that ends this month.
Posted on 9/27/23 at 9:58 pm to slackster
Overlay govt spending on those GDP numbers. GDP is up 5% over pre-COVID govt spend is 20% higher, private sector is struggling but govt money pumping into selected industries is a good way to prop the number up significantly.
The “recession” last year trailed a big falloff in govt spending by exactly 1 quarter, then govt spending shot back up and the recession suddenly vanished.
Essentially, just as with the employment numbers that are constantly being revised after painting an overly optimistic picture…They cook the books. Industries that rely on consumers lending(autos, houses, boats, RV, equipment) all getting hammered plus the section 179 phase out combined with high interest rates will hurt those sectors even more. Meanwhile govt is bankrolling EV plants, infrastructure projects etc and enacting policies that push up energy prices causing boom in many industries.
The “recession” last year trailed a big falloff in govt spending by exactly 1 quarter, then govt spending shot back up and the recession suddenly vanished.
Essentially, just as with the employment numbers that are constantly being revised after painting an overly optimistic picture…They cook the books. Industries that rely on consumers lending(autos, houses, boats, RV, equipment) all getting hammered plus the section 179 phase out combined with high interest rates will hurt those sectors even more. Meanwhile govt is bankrolling EV plants, infrastructure projects etc and enacting policies that push up energy prices causing boom in many industries.
This post was edited on 9/27/23 at 9:59 pm
Posted on 9/27/23 at 11:22 pm to Bunk Moreland
Charles Payne talked a bit about this earlier today.
So much money got pumped into the system nothing makes sense.
I'm shorting the market currently while only holding shares of OXY.
This post was edited on 9/27/23 at 11:23 pm
Posted on 9/27/23 at 11:27 pm to RandoBigot
quote:
Jim Kramer agrees.
Welp. We're fricked
Posted on 9/27/23 at 11:41 pm to Jcorye1
quote:
Cool we went from insane to slightly less insane
quote:
also known as decreasing
Posted on 9/28/23 at 12:13 am to Big_Sur
The country/economy has been on the downhill side of something bad since before Covid became a thing here. Before Covid, even with little Hitler, who was reborn and placed in office, it was pretty good. Now it’s billions for war, but not much about the thousands illegally crossing the border on a daily basis. This country is broken and there ain’t no fixing it.
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