FED stated that it would follow the Gross Domestic Product (GDP) & PCE Index data for a rate hike. These data show a minimum of 75bps interest rate increase is needed. Also, GDP data is not looking good for September 29 release. Here is all you need for MACRO analysis: $SPY #GDP pic.twitter.com/z2YnDTcE5C
— Userofintellect 🇺🇦 (@userofintellect) September 21, 2022
via thegatewaypundit:
THE BIDEN DEPRESSION-
The Atlanta Fed predicted the GDP will have NEGATIVE growth for the third straight quarter this year.
The recession is real. Depression is increasingly likely.
How will the fake news spin this?
Atlanta Fed just predicted that the GDP will have negative growth for the 3rd Quarter. That's 3 Quarters in a row that our GDP has shrunk.
— Charles Sutton (@CharlesMSutton) September 21, 2022
The air is coming out of the bubble.
Atlanta Fed predicts another quarter of negative growth. pic.twitter.com/g7hzJPsHxd
— Pat Knight (@Tacflame1) September 21, 2022
JEFFREY CARTER: The Joe Biden Economy Is Like Groupon: Half off. “If you held the S+P 500 ($SPY) on January 1st of this year and haven’t sold, your return is -17.25% including dividends that were reinvested. That’s an annualized gain of -24.12%. For what it’s worth the 2008 crash was 50%. Hey, we are halfway there! That’s something isn’t it? It ain’t the Republicans or Trump’s fault. It’s right in the lap of Joe Biden and the Democrats. The buck stops with them. They instituted the green energy policies and all the stupid spending. . . . Meanwhile, all Democrats can talk about is abortion no matter what state you are in. No one cares when you can’t feed yourself, walk down the street without the threat of getting assaulted, or afford to heat your home.”
EVERYTHING IS GOING SWIMMINGLY: Existing home sales fall in August, and prices soften significantly.
Related: Goldman Sachs says brace for an even bigger housing downturn.
This isn’t all bad, as prices were too high, really. But it’s further evidence that we’re slipping into a recession, if we’re not already there.
h/t The MAGA Patriot