In a couple of months, the stock market will crash and as a result the economy will crater and fall into severe recession, accompanied with massive layoffs. People will lose their homes and poverty will rise to levels last seen in the Great Depression.
— HOZ (@MFHoz) August 22, 2022
Record Number Of Americans Are "Suffering" Economically, Surpassing 2008 Crisis Levels; Gallup Poll Finds
— Don Johnson (@DonMiami3) August 23, 2022
The Fed trying to bring down inflation pic.twitter.com/wPe8YMzgnm
— Not Jerome Powell (@alifarhat79) August 22, 2022
Meanwhile everyone is focused on the pivot narrative, interest rates on credit cards/short term loans are climbing higher as the t-bill 3M yield reached the highest since 2008 pic.twitter.com/a1Mm1beyvO
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) August 22, 2022
The index of the US Top 10 Leading Indicators has a 100% success rate in anticipating every recession over the last 40+ years.
By the time you get 2-3 consecutive negative prints, it's a done deal.
Last release was at 0%.
So: 2016 growth scare only or proper recession? pic.twitter.com/FphdTNg3C2
— Alf (@MacroAlf) August 22, 2022
JPMorgan CEO Jamie Dimon says "something worse" than a recession could be coming.
— Watcher.Guru (@WatcherGuru) August 21, 2022
Bloomberg international treasury bond ETF
The dollar is sucking up all liquidity pic.twitter.com/ItR5ORSUKz
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) August 22, 2022
The recent melt up was a technical rally.
Elevator down incoming. $SPX pic.twitter.com/hLqivfKMxJ
— HOZ (@MFHoz) August 21, 2022
US Services Sector Collapses In August, US Composite Weaker Than Europe
After the ugliness in Euro area PMIs, August’s flash PMIs for the US were expected to be mixed with Services improving and Manufacturing slowing – they were half right! US Services PMI collapsed in early August from 47.3 to 44.1 (well below the expected jump to 49.8). US Manufacturing also slowed more than expected, from 52.2 to 51.3 (below the 51.8 expectations)…
US New Home Sales Crash And Burn In July, Down -32.26% YoY (-12.65% MoM) While Average Price Rises +19.57% From June
Well, new home sales aren’t coming to the rescue for affordable housing. July’s New Home Sales crashed and burned. At -32.26% YoY. This is happening as M2 Money growth has declined.
US 30yr Mortgage Rate Rises to Near 6% Housing Affordability WORST Since 2006 Housing Bubble
The National Association of Realtors’ Homebuyer Affordability Index for fixed-rate mortgages is now at the lowest reading since 2006 and the peak of the 2005-2007 housing bubble that burst catastrophically.
PBOC Sticks to Limited Stimulus Even as China’s Outlook Darkens
China’s property market crisis is testing whether central bank Governor Yi Gang can stick to his stimulus-lite strategy.