Are we headed for a world wide meltdown?

[Tiny]

We’re now officially in a recession. GDP growth in the second quarter was -0.9%. So we’ve had two consecutive quarters of negative GDP growth. The Fed, thanks to being slow to the game, is faced with raising rates into a recession.

[WTF]

Originally Posted by Tiny

We’re now officially in a recession. GDP growth in the second quarter was -0.9%. So we’ve had two consecutive quarters of negative GDP growth. The Fed, thanks to being slow to the game, is faced with raising rates into a recession.

Well at least our middle class and above are better off than all others!

[Texas Contrarian]

This is the first time in memory that the Fed has undertaken a substantial pivot toward tightening just as an incipient recession is getting warmed up! Not sure I'd be expecting the next 6-12 months to go especially well.

The first to take a hit will likely be the homebuilding industry. Knock-on effects will thereafter hit appliances (refrigerators, dishwashers, air conditioning systems, etc.). Then flooring and roofing materials, lumber, drywall, glass, and cement -- as well as accessories and various homefurnishings. And second derivative effects in a few sectors. Where are various elements on the curve at any given point, where are they going, and at what velocity? (The rate at which the rate of change is itself changing, and all that.)

Of course, clouds often have a silver lining. Some attractive investment opportunities for contrarian investors should arise!

[lustylad]

Originally Posted by Texas Contrarian

Tightening into the Emerging Teeth of a Recession Never Goes Well

And GUESS WHO wants to worsen the contractionary forces by raising taxes too?

Originally Posted by WTF

The Fed is raising rates to slow inflation. Raising taxes will do the same thing! I do not know why congress hasn't done so sooner.

[WTF]

Originally Posted by lustylad

And GUESS WHO wants to worsen the contractionary forces by raising taxes too?

You were the one saying inflation wasn't transitory!

Plus I'm trying to pay for Tiny and DeSantis money give away to fight inflation!

[WTF]

Originally Posted by Texas Contrarian

Of course, clouds often have a silver lining. Some attractive investment opportunities for contrarian investors should arise!

Damn straight!!!

[lustylad]

Originally Posted by WTF

You were the one saying inflation wasn't transitory!

Your highly elastic definition of "transitory" is as worthless as your lame, pathetic attempt to redefine the definition of "recession".

Originally Posted by WTF

Plus I'm trying to pay for Tiny and DeSantis money give away to fight inflation!

I'll tell you what - henceforth, each time you troll-talk about DeSantis spending a puny, insignificant $35 million of "use it or lose it" fed dollars, I'll repost the following FACTS:

Originally Posted by lustylad

You look incredibly stupid when you try to depict Ron DeSantis as a big spender.

He just closed the books on the state fiscal year ending June 30th with a surplus of almost $22 billion. Rather than bribing voters (like Gov. Gruesome did in California), DeSantis is prudently using much of this money to add to Florida's rainy day reserve fund.

Florida has roughly the same population as New York State, yet it spends 1/2 as much as the Empire state while delivering a much higher level of services to its residents. Hmm... is Florida an efficient provider of taxpayer services or is New York just hopelessly wasteful & inefficient? Must be a combination of BOTH!

And when did DeSantis "hike taxes"? Oh wait, he didn't!

Lookee here, folks! Read this if you want to become familiar with the FACTS instead of WTF's completely false narratives!

https://www.flgov.com/2022/05/06/gov...ridas-history/